Please help me sort my finances.

Flowers

Hello,

Really want to get out of debt. I have lost my job, but been going for interviews and hope to start one in the next week. I will earn about £900 before tax

I have nothing coming in and owe money on 3 overdrafts and 3 credit cards. I have been juggling for about 3 years since I was a student, but now cant keep up with the different payments and dates.

I have a bad credit rating, is there anyway I can combine these debts and only make a monthly payment of about £200? Is a loan a good idea?


interest
Acc 1 1,500 19% od limit 1,000
Acc 2 1,320 18% od limit 1,300
Acc 3 500 0% od limit 500

CC1 2,000 1.9% (int rate exp Aug 09) card limit 3,300
CC2 1,100 22% of which £350 cash is at 30% card limit 1,000
CC3 200 18% card limit 2,200

As you can see am over my limit on 2 acc and one card.

I live at home with parents, I have worked that my monthly outgoings are £450 a month.

Any advice pls?

Thanks

Lula-Hula

Hi,

I would recommend that you visit the consumer credit counselling service website www.cccs.co.uk & fill in one of the online budgets which will then help you to work out how much money you have available to pay off your debts.

By using the snowball calcualtor at www.whatsthecost.co.uk you can work out in which order to pay the debts.

I hope this info is helpful, please post again for any more help or advice

best wishes

lula

Flowers

Thanks, but I have done the above already. Just dont know best way to go about paying?

joeblack066

If you use the snowball calculator it should tell you. Joe.