Hello, good evening and welcome

smellysnelly2003

My salary - £1,200 (variable plus or minus £50)

Total - £1200

Monthly Outgoings:

Mortgage/Rent - £325
Council Tax - £50
Gas - £
Electric - £25
TV License - £5
Sky £40
Phone - £20
Food - £40
Car Insurance - £0
Petrol - £0
Life Insurance £0
Egg Loan - £183
First Direct Loan - £276
Barclaycard - £60
Personal - £150

Total: £1,174


Egg Loan – Balance £11,200 APR 7.7% Length of term 84 months, about 75 to go
First Direct Loan – Balance £4000 APR 11.9% Length of term 24 months, 16 months to go
Barclaycard - Balance £3350 (Limit 3400)
Cap One - Balance £190 (Limit 200)
Overdraft - £950 (limit £1,000) APR ?
Personal Debt - £1000 - currently paying back at £150 a month

With that over and done with a big hello to everyone.

I'm brand new to this place and wish to heaven that I'd found it a year ago and maybe I wouldn't be in such a mess!!! I have made every single classic mistake that you can with credit!!

I suppose I may be a little different from a lot of people on here in that most of my debt came from gambling and my epiphany came from the realisation that I was going to lose everyone I cared about unless I stopped - the £25000 debt was also becoming a problem!

My last bet was placed on Feb 22nd and since then I've been trying to get back on top with reasonable success. Got out of the late payment cycle and now my only problem is not being able to get anywhere with the Barclaycard (min payment of 60, interest 55). I have 2 failed credit applications recently so don't really want to try any more unless I'm confident I'll succeed, however I need a 0% transfer to start making headway into the B-card.

Cheers all

Ryan

CLAPTON

there is very little spare in your SoA, indeed it is unrealistically tight...do you spend anything on travelling, going out, clothes etc....

is there any way of increasing your income...overtime or a part time job?

Floss

Hello, don't worry, everybody on here will try to help you.

Others will be along soon to help with the credit cards & loans (i don't understand them!), but at first glance:

no car??
TV licence - how come only £5 - is this a shared cost?
food - only £40 per month! how come its so low?
no gas??


One suggestion that will help you - start a spending diary & write down EVERYTHING that you spend EVERY DAY! Then you can see exactly where your cash goes.

Good luck & well done for posting - the first time is always the hardest!;)

crawley_girl

My immediate thoughts:

*Get rid of sky or reduce down to basic package

*The personal debt - is that owed to family/ friend? Any chance you could reduce the payments until the money situation is a little more fruitful?

:heartpuls CG :heartpuls

Triker

Just wanted to say hello, good afternoon and welcome. First step is the hardest as they say and I haven't even done that yet so your ahead of me!Good luck.

moneycrisis

Hi there just thought i'd say hey. My debt was gambling related and my epiphany (i like that) was at the end of April and i havent since. I have found it hard to come to terms with what i did and the mess i got myself into its my first day on here aswell. but good luck and i'm sure these guys will help.

southernscouser

God whats that smell! :eek: _pale_

Sorry snelly, only kidding! Welcome to MSE! :beer:

OK, what does "Personal - £150" cover? Is this basically going out money?

If you don't want to get rid of Sky can you reduce the package you are on?

Also your cards are quite near their limits. Does this mean you are still using them? If so you are still living beyond your means.

Start a spending diary. Every day note down every singlew penny you spend and on what. At the end of the month when you go through it you;ll be amazed at how much that odd pound here and there add up to!

lynzpower

Hi there adn welcome to DFW!

I would cull sky. At the end of the day its a waste of money you can ill afford. Saying that there really isnt much other leverage in your payments, as you seem to break even. Although what does come into that personal money of 150?

I wonder, do you have anything you can sell. I do say this to everyone who comes here new, but it is one way of getting some quick cash together. Ive sold cds, dvds, clothes, literally anything thats not nailed down, and ive been ruthless. Could you do the same. Ive made a few hundred since Ive started here and its pretty much cleared one of my smaller but expensive CCs.

How is your credit rating can you shift these loans or CCs to a lower llife of balance card?? So that the payments you are making have come off the total, and not just the interest?

welcome!

Emmzi

'personal' looks like a peronsl debt to a mate. the one I'd be paying off first if I wanted to keep the mate!!

smellysnelly2003

Ok, a few replies and explanations. I work in a restuarant so get fed there, we have no gas, all costs are shared with my wife, 150 personal is a debt to my wife and she needs the money, the sky is staying - only thing i spend money on, credit rating getting better but still needs a bit more repair before any transferring.
I work 3 jobs so can't do any more hours - my SoA does look tight but looking back on it I was a little conservative with the total I earn. £1200 probably is the lowest,.

smellysnelly2003

Moneycrisis - Good to hear from someone in a similar state. Do you feel like PM'ing me and we can swap some shame stories??