Help !!

saxysarah

you'll also need to dig out your paperwork to find out the APR's for your loans - the general advice is to pay off the highest interest loan/card first with as much overpayments as poss while making minimum payments on the others ;-)

wally38

Thanks, I live with my boyfriend (who isn't aware of my situation) and pay him £200 per month, this covers some of the bills etc as the mortgage is in his name only.
I'll have a look at the snowball tool, but my "normal" debt isn't the problem, its the not being able to pay the payday loans first !!!

WASHER

Ok, You have a good surplus each month, you shouldn't be needing to use Payday loans etc if you budget well. Start a spending diary, keep track of all outgoings.

Do you not spend money on travel to work, or clothing, the SOA you posted isn't an accurate picture, it would help us to help you if we could see why you are having to take payday loans out, look over your SOA again and press EDIT (right hand corner of the post).

saxysarah

are your 'payday' loans included in the unsecured debt above or are they extra?

wally38

They are extra, I haven't included them in the SOA. At the minute, I'm extending them to pay interest inly, but its just drowning me.....

RAS

wally

We need to know about ALL the debts, even overdrafts etc.

saxysarah

ok it would probably be better if you put them in so u can see the whole picture - i'm not entirely sure how payday loans work - ie: if they are like loans/CCs but with ridiculous interest or if you are expected to pay the whole thing off by the next payday? there will be far more experienced people around here to advise you - don't lose heart you've come to the right place ;-)

wally38

I'll do another SOA, I didn't realise the payday loans go on that too.Thanks x

never-in-doubt

so the £1350 is your income then and not total household income, otherwise I was about to shout 'Tax Credits'......

Also tell your b/f about the debt, if he doesn't like it or gets snotty then you know how your future lies - pointless hiding it from him, can he help by paying it off?

If my wife posted similar to this i'd pay it off right now for her - no questions asked. Can your bf do this for you?