New life - Starting Again

AllAloneInTheWorld

Hi there ,
this started when i was 18 , i had a few cc's and was working part time while at college and then uni .

i had part time jobs .. but also had a nasty addiction to new things . I loved new computers , Tv's .. i had to have the best !....

all started off well .. then things started to Pile up , the ability to use 0% and pay off later was so appealing .

i finished Uni last July and have a reasonable paid job a few months later .

I have managed to keep things under control with my spending , with doing matched betting for a few years i fed my addiction of ebay with free money obtained through casino blagging and matched betting !

i have a reasonably nice sport car and a nice load of possesions .

I managed between the years of 18-20 to get £3000 in debt and have been juggling credit cards around since then . luckly i have kept a good decent credit rating having never missed a payment .

I had a light bulb moment a week ago and now starting to tackle it , i managed to pay off £250 last week from my wages .. and also managed to sell my lot of boxed star wars figures for £800+ which should pay off a nice chunk of another one, once this debt is out of the way i will be a lot happier ! as its something that has kept me back from happiness for a while.

everything is on 0% cc's for 15 months ...

my aim is to get rid of the debt by MAY .

thanks for reading

gettingbetter

hi
allalone

keep positive

kas xx

Robflh

Hi there

Can you post a Schedule of Affairs (SOA).

Once we can see what you have coming in, going out and what assets you have, like the car. We can make suggestions on how you can pay out less and pay more off your debt.

AllAloneInTheWorld

ok here it goes,

My assets i dont wanna get rid of as theres no need , cars probally worth around 5k in this climate , i have the flat screen Tv's , gym etc etc ... my pc is probally in its self worth around 1000 in parts.

my debt now atm is around 2750 after i paid some money off this month , after selling my starwars stuff i can take off a further £800

so that now takes it down to 1950

my monthly income is between 1200-1300 ( no chance for over time)

expenses
rent is 120 pm
petrol is 200 pm
phone is 30pm

car and insurance is all paid off

Robflh

According to those figures you have £850 that you can pay off your debts. If only the rest of us on here were so lucky.

It would take you less then four months to pay off the £3,000 debt.

However, as you have been having difficulty in clearing this debt, you must be spending money on other things.

Anything you spend money on each month must be included. Like how much you spend on going out, snacks at work, cosmetics, the hairdresser, food and so on. Put costs that are a bit on the small side in to groups.

Every business has a budget and we are a very small business but we do not think of ourselves as a business. However, we have income, expenditures and people buy our goods or services.

Therefore we need to know how much money we have coming in and how much we have going out. With any luck we will have a surplus and that surplus is what we should put away for a rainy day.

My phone, gas and electric are all paid monthly but for a number of years they where paid quarterly. When you buy or start to rent a home, they all start on the same day. That means they all have to be paid in the same week.

That meant putting an amount away each week so that I would have enough money to pay for all three of them at the end of each quarter.

People did the same for there holiday each year but today we whip out the plastic and worry about paying for it later.

Until recently I never knew what it was but I have budgeted all my adult life. When I decide to take out an endowment policy, I looked at my budget to see how much I had left each month and whether I could afford to make the payments each month for the endowment. Once I had confirmed that I could afford them I then took out the policy.

Before I had my credit cards, I would consult my budget to see if I could get a new fridge freezer by paying twelve interest free payments or if I would need to take out a loan and pay a bit of interest.

Anyhow, if you do not actual end up with £850 at the end of each month, re post your SOA detailing where or how you are spending this money.

Merlinexcalibur

Getting an awful feeling of 'de ja vu'. Anyway.

my pc is probally in its self worth around 1000 in parts.

Erm, well, er okay. Sure it is. I mean only the other day I was looking at a top PC from end of last year being sold in a shop for £50. Maybe you are fooling yourself with how much your PC is actually worth. Because I think you will find it's not. Speaking in reality for example.

According to those figures you have £850 that you can pay off your debts. If only the rest of us on here were so lucky.

Agreed.

Seems a few are reluctant to post their SOAs today. Hmmm.

ok here it goes,

My assets i dont wanna get rid of as theres no need , cars probally worth around 5k in this climate , i have the flat screen Tv's , gym etc etc ... my pc is probally in its self worth around 1000 in parts.

my debt now atm is around 2750 after i paid some money off this month , after selling my starwars stuff i can take off a further £800

so that now takes it down to 1950

my monthly income is between 1200-1300 ( no chance for over time)

expenses
rent is 120 pm
petrol is 200 pm
phone is 30pm

car and insurance is all paid off

Not an SOA but I think you probably knew that before posting it TBH.

my monthly income is between 1200-1300 ( no chance for over time)

Sorry, I am going to say this but maybe a dash of reality might help your situation. There is no such thing as 'live fast die young'.