Loans to pay off Debts

piratess

Yeah my adams card which was a staff card .... and we were encouraged to take it .. (could have said no i know) but the 75% off everything at mega days .. was to good to resist at the time (stupid) i know ! .. its now been cut up and sent back to the company ..


think im going to give the loan idea a miss and will tell my partner so when he gets in ! thankyou for your advice! .. xx

CLAPTON

why dont you post an Statement of affairs (SoA) here of your income and spending and maybe people will have some suggestion of how you can reduce your spending which will make the debt repayment easier.

for more detail see

http://forums.moneysavingexpert.com/showthread.html?t=107280

piratess

Hi Clapton i have posted a SOA i think its on page 7 .. have just started sorting letters etc to send to doorknockers ... and am trying to cut down my shopping bill ... Also need to pursuade partner that DD is a good thing

Jessiepig

It all depends on how strong you are. Some of these loans have high percentage rates and if your husband can get a loan to clear them all and it will leave you better off, thats a good thing BUT its no good if you continue to rung up further debts on top of the loan.

skylight

OH and I (as well as many on this board!) fell into the big loan trap - and succumbed to spending (just a little - honest - I can pay it in full when I get paid) on the credit cards again. Now we are truely up the brown creek without the paddles.

Personally, I would look at chucking all spare cash to the rent arrears first. You need a room over your head first and foremost.

piratess

Thanks for your comments chorlotte .. The rent arrears are with the housing authorities in Cornwall before i moved to the new forest .. so it wont mean if i dont pay quick i lose the roof over my head its a debt that i got when i started work part time ..... etc

Broken_hearted

Found the soa

My partner is sole earner and we get TC and WTC :-

Monthly Incomings

His Salary £900.00
C/T Credit £440.00
W/T Credit £300.00
Housing Ben £200.00
Child Ben £160.00

Total :- £2,000.00

Monthly Outgoings:

Rent £700.00
C/T £133.00
Gas £46.50
Electric £21.00
Water £15.00
Waste £36.00
Food £360.00
Car Ins £34.00
Petrol £40.00
House ins £18.00
Phone £20.00
Mobile £50.00
Internet £15.00
SW £17.00
Driving lessons £144.00
Gym £37.60

Total Outgoings= £1,652.00

Debts ....

SWW £540.00
Housing Arrears £1,300.00
Social Fund Old Loan £400.0
Catalogue £52.00
Adamscard £98.00
Provident £130.00

Total £2,520.00

bikerqueen

Give up driving for one month, Provident will be gone. Two months, catalogue and adams card cleared. another 3 months and the social old fund loan will be settles. you'll be driving again by October. looks obvious to me?

lynzpower

Bikerqueen

I suggested the same thing in the previous thread but OP said that due to her isolation she remained committed to the driving lessons

Hang on ill find it so we are not saying things already been said here tis http://forums.moneysavingexpert.com/showthread.html?t=209361

bikerqueen

but she could keep practising with a friend/partner, and October is very close! ah well, just a suggestion.