nasty shock

lynzpower

I think this is a good idea. take it from me, its nice for people to understand what you are doing so they dont lead you astray, and it makes it easier for you to say no.

Do you need this "nice car" could you sell it and get a little runaround instead and pay off the debts with the proceeds. I have been selling anything thats not nailed down and have made hundreds of pounds in a few months. I wonder can you do the same, ebay, amazon, greenmetropolis for books, car boot sale, loot etc. This will help you have money to throw at your debts, and it helps as you really feel like you are getting somewhere

Floss

I agree with Lynzpower, come clean & you'll feel a bit better.

If you stick at your college work, pass the exams & get your payrise, you can put the extra monthly income towards your debts to reduce them a bit quicker. Then you will feel as though you have achieved something in both your career & your finances.

moneycrisis

i'm definately going to try and sell some stuff. Got loads of stuff in my room which i know i can flog on ebay. Every little helps i think.
As regards to the car its a scheme/company thing. I pay £200 a month but that gets me the car tax insurance services etc.
This wasnt the cheapest car i could get but i wasnt thinking MSE when i chose it. I get to change at the end of the year so am going to make a wiser decision on the next one. Smaller engine so less petrol spent and lower monthly payments.
I think i need to unload but just dont want to admit to screwing up yet again

Emmzi

mc,

I think there is a problem with people 'expecting' you to have certain things/live a certain way (you mentioned that above.)

If friendships depend on possessions, you need different mates!

Or is the expectation with you? Ionly mentionthisbecause I am still paying off a handbag and shoes collection that as a 21 year old I felt 'entitled' to have if working! (I am now 35 and the shoes have long since worn out.)

moneycrisis

you make a good point and i think it is/was a pressure that i was placing on my self. I didn't go to uni so i dunno subconciously i think i feel i should have money and be able to enjoy myself other ways which i did but not with my own money.
I've been lurking just reading posts for a long time esp the debt diarys and it has helped to inspire me to sort myself out.
I realise now its time to sort things out otherwise in the future it will be very difficult.
Im going to drive home tonight and tell all. I'm away at the moment and stuck in a hotel which just leaves you with far to much time to think. I feel i need to involve my gf as well we've been together 3 years and i see my future with her so i guess its only fair she knows what shes really involved in

Emmzi

£15k is manageable, especially if you are staying at home. You WILL be able to do this, with enough determination.

Good luck with the g/f.

moneycrisis

Well i'll let you know later this evening how i get on. Thanks for all you help.

moneycrisis

Okay i've told my parents and gf about what i have done. How i have gambled myself into large amounts of debt.
My Mum and Dad were positive and want to help. My gf a bit peed off but i feel this is due to lying and secrecy that was involved she said she just needs a bit of time. I feel better that its off my chest but upset that i've messed things up a bit with my gf. I just feel better getting it down in writing as well

Emmzi

Well done mc. If you don't have an honest relationship, you don't really have one. She'll be in a little shock, probably, and need some time to think about it. Hopefully she will see that you are tackling this now so you can both have a stronger future.

Now be careful you don't let helpful parents pay everything off and not change your spending habits..or you'll be back here again in 6 months!

Get a good night's sleep...and we can work on the plan tomorrow!

Bloke_with_a_simple_life

Hello Crisis - brave actions getting all out into the open after a couple of days!

You've taken a huge leap, and hopefully the great people on here can help you take a few more steps along the way.

Take a deep breath, let your heart beat normalise itself - and jump back on here shortly for more help.

Great start - keep it going!