Can somebody point me in the right direction please.

ARTBG

Long story short, in massive debt, used all credit up, need to cut my outgoings particularly on credit cards

Bank loan

£105
Credit card

£120
Credit card

£90
Lottery
£18
Eon
£80
Mortgage
£686
Mortgage Ins
£100
Bank loan
£235
Car Ins
£19.00
Credit card

£200
O2
£24
O2
£25
Credit card

£185
House Ins
£24
Water
£24
Sky inc home phone + BB

£45
Tv Licence
£12
Council tax

£110




Total
£2,102

Food + petrol+ cigarettes ( I know, got to give up!!) = £500 ish

Income = My salary = £1400 ( sometimes bonus upto + £600)
tax credits + child benefit = £400
Wifes salary = £380

Used to be worse but have managed to cut some out already.

I want to pay all my debt off but need help with how to get my payments lowered with debtors and how to get interest lowered/frozen.

Thanks
:beer:

Tixy

Hi

It would really help if you could post this is this format http://www.makesenseofcards.com/soacalc.html
It will show us all the information on your debts etc, we need to see the balances, the minimum payments and the APRs of all your credit cards so we can see where you are at and advise you best.
Are you spending £18 a month on the lottery? If so thats a £18 saving you can make as from today.

bargainbetty

ARTBG wrote: »

Bank loan £105 - APR? How long do you have left to pay?
Credit card £120 - APR again, balance? Call and ask if they will transfer you to a low life of balance card, but cut up your old cards.
Credit card £90 - Same
Lottery £18 - Throw this at your highest APR card. You won't win enough to make this worthwhile.
Eon £80
Mortgage £686
Mortgage Ins £100 - Shop around, that is very very expensive. You can halve that.
Bank loan £235 - APR and term length as above.
Car Ins £19.00
Credit card £200 - Same as above - you need to see which card is costing you the most, rather than just the highest payment.
O2 £24 - Can you take lower tariffs?
O2 £25
Credit card £185
House Ins £24
Water £24
Sky inc home phone + BB £45 Cut this down to the minimum, throw the extra at your cards.
Tv Licence £12
Council tax £110

Total
£2,102

Food + petrol+ cigarettes ( I know, got to give up!!) = £500 ish You need to break this down. How many are in your house? How much do you drive? In which case, why do you not show any costs for repairs or tax on the car etc.

If you call all your credit card companies and ask for the details of the APRs, ask them to reduce them at the same time. Tell them you are looking to switch to a low life of balance card, and that you would like to stay loyal to them....

Worth a try, before you get into the big letters!

Good luck x

Former_E.ON_Company_Representative:_Malc

ARTBG wrote: »

Long story short, in massive debt, used all credit up, need to cut my outgoings particularly on credit cards

Eon
£80

I want to pay all my debt off but need help with how to get my payments lowered with debtors and how to get interest lowered/frozen.

Thanks
:beer:

Hi ARTBG

Just a few pointers that might help with your E.ON bills.

Make sure you are being billed accurately to actual meter readings rather than estimates. Give us a call if you are being billed to estimates. Tell us a reading and ask for an accurate bill. This will help you see exactly where you are.

Does the £80 you are currently paying include any arrears? If it does, ask if the arrears can be spread over a longer period. This will reduce your monthly payments.

Check you are on the best tariff for your needs. There are discounts available for paying with a Monthly Direct Debit and managing your account on line.

Pop your annual usage on to one of the comparison sites. This will show you how competitive we are. Give us a call if you are unsure of your usage, we will be happy to let you know.

Please note, if you decide to change supplier, we don't give discount on the final bill. Therefore, it will be better to time a move away to lessen the impact of this.

Another way of reducing bills is by cutting back on your usage. We can help with this, too.

Have a chat with our energy efficiency team. Give them a list of your appliances and they will be happy to help. Ask for a copy of a booklet called '100 ways to save money by saving energy.' It's free and contains lots of useful advice to help you cut back.

Check out our website (there's a link in my Personal Profile); particularly the interactive house, Winter Advice Bureau and energy menu. More good energy saving tips, here. :cool:

You might also be interested in the 10:10 campaign. This is a climate change campaign aimed at helping people reduce their consumption by 10 per cent by the end of 2010. Again, details are on the website.

Hope this helps ARTBG. Give me a shout if you need more details as will be glad to help. Good luck.

Malc