Help. Credit and debit card debts

mikewrfc

Hi everyone

I have recently just joined but have been a reading for ages. My dilema is as follows. I recently bought a brand new ford fiesta using the ford 2 years options plan. I am paying about £230 a month and will have to pay £6000 after 2 years to keep the car. At the time i was living with my parents but unfortunatley i have now recently moved out and i am living on my own and payed alot of money to get all the furniture, equipment etc. I owe £1600 on my credit card and I am £1600 overdrawn on my debit card. When i did my budgeting i realised i only have about £100 to pay off the debts after making all the essential payments. What would be the best plan to get debt free? would i need to consolodate my debts, take out a loan? hand the car in after the 2 years? Any help will be much appreciated.

jennihen

Hi Mike - the first piece of advice is to post your SOA then all the nice people here can throw ideas at you. I'm cooking dinner at the mo so can't post a link for you but someone else will be along.
Taking out a loan to consolidate is hard at the mo - whats your credit file like - any adverse history yet?
Could you up your income with a second job for now to bite this debt on the a*** ?!!
The more info you post the more suggestions you'll get.
Best of luck - I'll look out for your posts
JH