please help ...SOA

stopthespends

cap 1 and lloyds card are 0% until dec and hsbc is 16%

next is 22%

will find the balances....

everything looks so dreadful and doomed......total panic setting in....

Tixy

louley wrote: »

everything looks so dreadful and doomed......total panic setting in....

You will be all right louley. Try not to panic. You need to look through any unopened post etc for the balances on those debts. But now we have a better picture we can try to advise you. From your Jesthar SOA it looks like you can just manage you minimum payments. If you can free up some cash by cutting some expenses as mentioned before then you will be able to make bigger inroads.

You need to make the additional payments off the debts with the highest APRs

I would recommend you start keeping a spending diary where you write down every single thing you buy (50p on sweets or £50 on new clothes). This will help you see where your money is going and make you realise what isn't necessary. Mine keeps me very motivated.

Do you belong to a cashback site? I use quidco. Always look for any new insurances and similar through these as you can get cashback on your purchase.

Do you have anything you could sell on ebay or at a carboot (daughters clothes or toys she has outgrown?) These can be sold to pay off your debts.

Once you have all the information and found out if you can cut down virgin, sky and mobile try the snowball calculator (also on the makesenseofcards site) - this will help motivate you to pay every spare penny of yoour debts and should give you a timescale for becoming debt free.

Good Luck
(are you using a different browser to internet explorer - this may be the reason you were having a problem with the SOA template)

Jesthar

louley wrote: »

everything looks so dreadful and doomed......total panic setting in....

Relax, honey - tis not that bad, honest! On paper you have a surplus at the end of the month, and there are ways to negotiate down some of your outgoings a little, so as long as you are disciplined with your spending and start throwing all the spare money you can at overpaying your debts, you should be OK. Things will also get easier as the balances (and therefore the monthly payments) start to come down.

I'm not saying it's going to be a cakewalk, and you're going to bein this for th elong haul, not a sprint fix, but you are by no means in as deep a hole as you could have been in a few months time.

The first thing to do is start keeping a spending diary, so you can account for every single pound of your outgoings at the end of a month, and catch any areas where the pennies have slipped away.

*hugs*

~Jes

moneybuster

in post 18 i think there is a nationwide loan for £15000 thats been missed off

regards moneybuster

RAS

louley wrote: »

cap 1 and lloyds card are 0% until dec and hsbc is 16%

next is 22%

will find the balances....

everything looks so dreadful and doomed......total panic setting in....

Ok

So Next is the most expensive debt, so that is the one to pay off.

What is the limit on the HSBC card?

Jesthar

moneybuster wrote: »

in post 18 i think there is a nationwide loan for £15000 thats been missed off

regards moneybuster

It's there, I just didn't spot the amount owed, so only the monthly payment amount (£261) is listed. Knew I'd miss something!

~Jes

stopthespends

have found themissing balances of cards...


lloyds tsb £ 3187 0% until march 2010

capital 1 £2000 0% until dec 09


i have got approval for m and s card at 0 % ...should i get it and move my hsbc debt to them!!!

stopthespends

Holy mother of pearl....

I am having a freak out at how much debt i have.........

What am i going to do!

I am also concerned about the face it have to remortage this winter and what if i cant get a mortage as my total debt is around 24000.......................f***.

stopthespends

thanks all for letting me be a luny

stopthespends

hi all

right steps in the right direction i thinhk!!!


i have used my saving of 200quid and paid off the next account yippee!!! (so that 20quid better off a month)

got my sky reduced from 19.50 to £5 for the next 4 months

reduced mobile from 35 to 30 (they wouldnt let me do any more!!)

going to look at life insurence tonight....any other ideas???

ive joined 3x myserty shopper things and asked for an extra shift each week at work....going to look for stuff i can sell aroubnd the house!!!

thanks again for your support yesterday...youve inspired me and shown me the way xxxxxxxxxxxxxxxx