Help need

syedlfc

Hi people,

Im new i was just searching in google on how to clear your debt , and i came accross this site.

At the moment i am in dire straits, In total i have a debt of £2000 and a further student loan debt of 13,500k , i am a graduate with degree in business management.

I am unemployed at the moment but im doing voluntary work to get some real life work experience.

I need tips on how to clear the debt, i don't mind keeping the student loan debt at the moment but the main issue is clear my overdraft and credit card debt first.

I just need help at the moment and i need help to get out of this mess.

Syed

P.S. Im 23

RAS

Hi

Can we have a bit of information, please. Do you rent, live at home etc?

Are you claiming benefits at the moment?

syedlfc

RAS wrote: »

Hi

Can we have a bit of information, please. Do you rent, live at home etc?

Are you claiming benefits at the moment?

Im living at home at the moment paying no rent , and yes im claiming job seekers allowance im getting £202 a month in jsa.

RAS

OK. It will help if you can provide an SOA here http://www.makesenseofcards.com/soacalc.html

I will also try to add a link to Eagerlearner's thread which includes information on how to get small amounts without falling foul of the benefits people http://forums.moneysavingexpert.com/showthread.html?t=2132075.

Two things we always suggest is that you sign up for www.freegle.co.uk so you can get stuff you need at no cost and that you go round and take a look at what you now longer use and sell them on e-bay, amazon or at a car boot sale.

if you do the SOA we can provide better advice.

syedlfc

RAS wrote: »

OK. It will help if you can provide an SOA here http://www.makesenseofcards.com/soacalc.html

I will also try to add a link to Eagerlearner's thread which includes information on how to get small amounts without falling foul of the benefits people http://forums.moneysavingexpert.com/showthread.html?t=2132075.

Two things we always suggest is that you sign up for www.freegle.co.uk so you can get stuff you need at no cost and that you go round and take a look at what you now longer use and sell them on e-bay, amazon or at a car boot sale.

if you do the SOA we can provide better advice.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 200
Other income............................ 0
Total monthly income.................... 200
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 0
Petrol/diesel........................... 30
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
gym..................................... 15
Total monthly expenses.................. 80

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Overdraft......................1550......0.........6
Credit card....................551.......27........7
Total unsecured debts..........2101......27........-

Monthly Budget Summary
Total monthly income.................... 200
Expenses (including HP & secured debts). 80
Available for debt repayments........... 120
Monthly UNsecured debt repayments....... 27
Amount left after debt repayments....... 93
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,101
Net Assets.............................. -2,101
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

immoral_angeluk

What's your household circumstances? Do you rent? There's no household bills or money for food etc on there. also no car insurance/tax/maintenance?

lisawood78

I believe op is living with parents and paying no rent as above.

RAS

Post three - living at home with folks.

RAS

Hi

You would be best advised to pay all that extra and anything you can get from sales off the credit card.

But do make sure the OD is kept within limits.

syedlfc

immoral_angeluk wrote: »

What's your household circumstances? Do you rent? There's no household bills or money for food etc on there. also no car insurance/tax/maintenance?

Im living with my parents .. my parents take care of the tax , cable , groceries , insurance , council tax ,

I pay my bills such as mobile phone , gym , credit card , eating out , petrol

I use to buy ps3 games like every week but i now rarely buy games anymore like once in every 4-5 months.

I buy the groceries once in a while

syedlfc

RAS wrote: »

Hi

You would be best advised to pay all that extra and anything you can get from sales off the credit card.

But do make sure the OD is kept within limits.

My OD has a 1,500 limit and im over it by £50 , i have another debit card which is kept out of the overdraft.

And the thing is my only income is job seekers allowance got no job ..