Im in over £12,000 debt and i dont kno what to do.

siddawkins21

Hi,

My names dave and im 21 and ive got my self into a bit of trouble with credit cards and store cards. i have run up a debt of over £12,000 and it is really getting to me. To help pay off a credit card i took a lone which i thought would help but it didnt it made things worse. I have a flat which i have rented out but im still stuggling with it all.
Can anyone offer some advice please?

Dave

skintchick

Hi Dave! and welcome. You've come to the right place, so don't panic.
In order to help you, we need to know the state of your finances, so please can you tell us:

your incomings

your bills, what they're for, how much
what you spend on food, going out, etc
Total outgoings

Your debts, how much total, the APR, the minimum payments required
Total debt payments and total debt

Then we can help you. If you have trouble, use the budget planner at the top of the page - don;t forget stuff that isn;t monthly, like haircuts, birthdays, car stuff, etc.

(((hugs)))

THE_LONE_RANGER_4

yes do your soa im sure theres plenty on here who will help you out

Tabs_2

Hi Dave,

Welcome to MSE :wave:

You have taken a step in the right direction and we are all here to help you. Fill in the budget planner on here http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1089226742,17582, and people will be along soon to offer you advice on where you can save some £'s and put it towards paying off your debts.

Queen.Bess

First of all, Well Done - you've come to the right place for assistance! I'm afraid I haven't got the finanical knowhow, but what you'll need to provide is a statement of affairs, which is basically all your income and outgoings. It can then be looked at to help see where savings can be made.

But Good Luck! We're all here for you! :beer:

miseter

u have come to the right place queen bess as the last post said put in all ur incomes and out comes and we will help

Little_Miss_Winner

Hi Dave,

Welcome to mse, some good advice given above, let us know what your soa looks like, then we can tackle it together.

Love
pot

forsya

Hi Dave

I did exactly the same thing, got a loan to cover my credit cards, but then would just spend again on my credit card and it alll built up.

It is great that you want to sort the mess out now rather than leave it get worse and worry you more. Your still young, with not too much committment, so a great time to pay it off and get yourself in a better place with money.

So do you own a flat, but rent it out? Where do you live at the mo?

Like the others have said post us your SOA so we can help further and you can start getting rid of your debt.

Loads of advice and support on here to help you through.

xxx

mrcow

Hi Dave and Welcome


If you're worried about debt, you really couldn't have found a better place to have come. In terms of high levels of debt, many of us here have seen it, bought the T-shirt and then paid for it time after time in credit card interest.

You're in the right place!

Take care

mboro

Hi Dave its a very friendly place here full of good advice, these guys and girls are helping me out at the moment, I got myself into a bit of a pickle but there is light at the end of the tunnel.

Stick with it and good luck.

D&DD

Hi Dave welcome to MSE I'm another who's been down the consolidation route and it didn't work..Once you've posted your SOA we'll get cracking and see what we can do to help