Need to get out of debt urgently - HELP PLEASE

gfplux

hello ebonydelux,
With your amount of debt you must cut other expenses NOW.
You can not afford Sky and you should cancel this in the next few hours.
You have been spending more than you earn AND you are still spending more than you earn (with debt repayments)
You must sort it now, this is very urgent
Good Luck

RAS

Hi

Please check your enttlement to WTC, CTC, Council Tax rebate and Housing benefit. Does not seem you are getting enough support if your child care costs are barely covered.

Then come back here.

I think you are going to need the help of a debt charity, even if you cut your expenses, some of which are very high.

Join www.fregle.co.uk qand get stuff for the kids and the house for free.

debtdesperado

I had a similar issue with not being able to stop spending...I would spend money every single day, often on rubbish, but which I thought I 'needed'. I ended up with about £40k of debt, and so much clutter! What helped me to stop was to focus on having one 'no spend' day a week. It sounds like nothing at all, but at first it was impossible for me not to spend money for just one day - I would make an excuse that something was necessary etc etc, but eventually, I did it. Once I was fine with one day a week, then I did two days etc. Realistically it took about 3 months to get to two days a week.

What I realised though was that I was buying things all the time to cheer myself up - but I was caught in a bit of a spiral, with feeling terrible and scared about the debt, then needing more and more stuff to make me feel better. Once I stopped the spiral, it gradually became easier to not shop all the time, and then I started decluttering - since then I have sold/given away/donated nearly everything I bought.

It's going to take me over two years (am 12 months in!) to pay off the money I wasted. I definitely think I have learned my lesson, but it's been a tough one!

**Upsy_Daisy**

I would second the freegle suggestion - I use it a lot - picked up 4 vests ths morning for my twins - cost nowt. :j They would have cost around £5 in the shops.
You get the same buzz as shopping but don't spend anything
I also get rid of stuff on freegle because I can't be bothered with the hassle of E Bay etc.
I assume some of the people I give stuff to via freegle E Bay it but that's OK with me - as long as they don't tell me when they pick it up

JonnyBravo

Ebonydeluxe wrote: »

I will cut up the HOF cards and monsoon. I have some vouchers on the monsoon one. So will delay until I have spent them - no I'm not going to add to the balance.

Why take the risk?

E-bay the vouchers. Every small amount is going to help as you've large debts to tackle.
I agree the sky needs to be cancelled, freeview is plenty good enough.

JonnyBravo

debtdesperado wrote: »

What I realised though was that I was buying things all the time to cheer myself up - but I was caught in a bit of a spiral, with feeling terrible and scared about the debt, then needing more and more stuff to make me feel better. Once I stopped the spiral, it gradually became easier to not shop all the time, and then I started decluttering - since then I have sold/given away/donated nearly everything I bought.

It's going to take me over two years (am 12 months in!) to pay off the money I wasted. I definitely think I have learned my lesson, but it's been a tough one!

:T

Ebony... Identifying the root cause of the needless spending is essential. Got to balance that income/expenditure as fast as possible and that can't happen if you're still in old habits.

Good luck in your last 12 months debtdesperado.

wilsongaz

Hi, I got myself in a similar pickle, with more going out than was coming. I decided that it had to stop and took alot of drastic steps.

My biggest problem was appearance, and keeping up with the neighbours. I was driving an Audi A6 at that point doing 1000miles a week of a commute. Luckly I changed location and am reduced to 100miles a week. I sold the car, and got a Y reg peugeot 206, and a cheque for £11000. With a push I paid off a loan which was £357 a month, then sold everything else which i didn't need and made cutbacks on everything.

I even reduced my council tax band with the help of a forum on here. My car insurance is now around £200 per year from £600, took out sky and got a freeview box, which has 3 childrens channels ( more than enough).

I now have a disposible income of £400+ a month, which I am attacking my last credit card with.

It is possible, but you will have to take a huge bumb to your pride, dont go for drinks after work or every weekend, just now and again, sell the car if its a petrol guzzling money eater.

I wish you the best of luck and dont let it continue, even my marriage suffered in the depths of it.