Where should I start?

debt_girl

Hi, I'm new to this forum, so please go easy on me.:)

Ive decided I want to try and get myself out of debt, but where should I start?

I have credit card with £3000
My overdraft is £1500-which I always use to the limit.:(

I have a loan ending in July which I pay £205 per month on, so can not wait till this ends!

But where should I start? Any advice most welcome, thank you!!!

yorkshire-lad

hi and welcome to MSE:)

the best place to start would be to post up a SOA, http://www.makesenseofcards.com/soacalc.html

this way people can see where you can cut back and spend the extra on your debts.
do you know what your apr's are on your loan,od and cc?

debt_girl

Thanks!

I will fill in an SOA then, no to the other question but I can easily find out the aprs, its just a mine field and I dont know where to start:(

yorkshire-lad

if you can find you aprs, then you know which debts to tackle first.
its more than likely going to be your cc and od that you need to tackle.

grab a cuppa and work your way through the SOA, this way you can get a full picture of your income and your outgoings.

i was in your position but once i sat down and worked out the total debt, it was alot less than i first thought, and it was a massive weight off my shoulders even though i hadnt done anything lol.

missmental

Hi,

I'm new to this site as well. My debts are quite a lot bigger than yours. I found the snowball calculator really helpful because it sset out what to pay first & how long it'll take to pay off.

It's called what's the cost .com. There are some links to it on this forum .

Good luck to you & me!

yorkshire-lad

heres the link for the snowball calc;)
http://www.whatsthecost.com/snowball.aspx?country=uk

debt_girl

Thanks guys, kettles on and I'm fishing through my finances now, fingers crossed!!!