£38300 reasons why i need help

stevo1578

Hi

I have just taken the finances away from the wife and relised i have £38300 in dept on 8 credit cards what an earth is the best option........

Please help

Steve

Tixy

Hi Steve

You need to work out a monthly budget and see if you can afford all the minimum repayments. This is a good form to use - http://www.makesenseofcards.com/soacalc.html
and this thread explains it well - http://forums.moneysavingexpert.com/showthread.html?t=107280

If you post the results on here people will be able to advise on a way forward

Welcome to the forum.

stevo1578

Ihave done the budget and have 300 pounds left a month, so not bankrupt yet but the charges are horrifc.

Can i attach the spreadsheet on the forum?

Mags_cat

stevo1578 wrote: »

Ihave done the budget and have 300 pounds left a month, so not bankrupt yet but the charges are horrifc.

Can i attach the spreadsheet on the forum?

Yes - if you've used the link that was posted above there should be a "Format for MSE" button at the bottom. That'll open another window with your SOA in it - you can add any comments you want to and then cut and paste.

Trinny

Welcome Steve

The DFW members are a fabulous bunch - non judgemental and very supportive. Many of us have been in similar situations. I would post your SOA on here - let the DFW experts take a look at things and help you out.

There is light at the end of the tunnel

Best Wishes

Trin