Help, drowning in Debt!

Sea78

Hey! Looks like you've done load s- well done! Keep us all updated on how you go and make sure you look over on the freebies board - it's great for those who love getting things in the post, but can't afford to be buying all the time

Sea xx

grimelda

I'm impressed by the changes you have made and your willingness to accept advice. Well done!

VikJ

That Egg Loan monthly repayment is a bit high for that amount isn't it? Can you do anything with that?

Arch-Angel

VikJ wrote:

That Egg Loan monthly repayment is a bit high for that amount isn't it? Can you do anything with that?

Better than that...Egg Loans (or the one that I've got) allows for a payment holiday for up to 3 months. If yours has this facility (and you haven't used it in the previous 12 months), use it now. Then using the "saved" payments, clear the HSBC card (which, if I recall has £370 outstanding) and, with what's left, deal with your overdraft.

Granted this will delay the clearance date of your Egg loan by 3 months - but may well be worth it.

HTH

Batgirl

Ihave to say I know exactly where you are. 3 years ago we bought our first house and had our 2nd son and things were very grim. I remember many many a night of laying in bed trying to work out how we could possibly get enough money together for my OHs brothers wedding, and this was 6mths before the event. We had not a penny to spare and if anything from 1p that was not in the budget had to go on the CC cos there was no spare, but we also knew we had no way to pay off the CC. I was at home with 2 small boys and trying not to do anything or go anywhere because everything cost in some way. (petrol, food, toddlers etc etc etc). We really felt like we had no hope and that there really was no light at the end of the tunnel, and things would never change.

Then when my youngest was about 9mths old I got a job at Next working 12 hrs a week ( 2 evening shifts and Sat morn), and I loved it. i love clothes so being with them was great, I got a £240 uniform allowance every 6 mths where I had to pay 25%, so I got loads of nearly free clothes. Anything else I got 25% off, and at xmas we got first dibs at the sale on xmas eve. I was earning £250ish a month, was having adult company for free and spending a few hours a week being me and not wife or mum. My OH also got some quality time with the boys without my sticky beak telling him how to do things.

This is just an idea and it worked for us, and even if you decide not to do it I promise there is light at the end of the tunnel even when we overspend every month circumstances do change and things will get better.

Good luck

Batgirl

Ps I agree that your food bill is very high, so well done on addressing this so soon.

Batgirl

Arch-Angel wrote:

Better than that...Egg Loans (or the one that I've got) allows for a payment holiday for up to 3 months. If yours has this facility (and you haven't used it in the previous 12 months), use it now. Then using the "saved" payments, clear the HSBC card (which, if I recall has £370 outstanding) and, with what's left, deal with your overdraft.

Granted this will delay the clearance date of your Egg loan by 3 months - but may well be worth it.

HTH

I agree wholeheartedly it sounds like a good plan.

Floss

Try your local NEXT store for part-time work - mine are ALWAYS advertising for the big one just out of town, and I have a friend who works full-time in the week, and then does Sunday afternoons for NEXT, she started when her hubbie was off work sick & they needed the extra dosh.