I wanna be freeeeeeeeeeeeeee!

Risinfromthegutter

Hi,

I have been contemplating posting for a while. But after reading many of peoples problems, mine seem quite insignificant, to be honest but I thought what the hell!

My debts amount to around 6800.00.

I think, the main problem is I can only afford to pay the minimum payments on my credit cards because my income is less than my expenditure already, and my outgoings are only necessities (e.g mortgage, light & heat, TV license etc).

The breakdown of my debt is:

MBNA CC - 2800 (approx) 6.9% until January '07
NatWest CC - 3300 (approx) 16.9%
HSBC OD - 750 interest-free.

I am about to pay of the majority of my NatWest card off with my savings, with the remainder been transferred to my MINT card, so long as I get the credit limit increase I am hoping for.

I am just looking for reassurance in regards to my problem, and some viable Money Saving tips if possible. And ways to rid myself of my credit card debt more quickly.

I my monthly wages to last longer than the 5 - 7 days they are lasting at the moment so that I can stop relying on my partner to pay for the weekly grocery shopping.

Any help would be appreciated

Thanks

Mark

Risinfromthegutter

That post may be rather incoherent and disjointed, but it was rather spur of the moment. I hope you get the gist?

bargainbetty

Mark,

Welcome to the boards! If you use the links at the top of the page to help you do a staement of affairs, then lots of lovelies will be along to give you advice presently....

It's not insignificant - it's you. Just because yours is different to someone else's debt, doesn't make it less important!

x

Toomuchdebt

Can you provide a full SOA plus what the minimums are on the cards?

MrsTinks

Well done for come on here and posting and remember no mater how small the debt - if it's worrying you then you have every right to feel you need help from us

Why don't you post a full SOA so we can see what we're working with and see if we can help you speed up that DF date for you

MrsTinks

oooo 3 at once lol we're all racing to be first now

moozie_2

Risinfromthegutter wrote:

I have been contemplating posting for a while. But after reading many of peoples problems, mine seem quite insignificant, to be honest but I thought what the hell!
My debts amount to around 6800.00.

Hi there and welcome!

I hope to see your SOA soon (seems to be in high demand :rotfl: ) so I can add my 2p worth of advice to it. I would like to say that no problem/debt is insignificant when it is making you concerned enough to ask for advice.

We're here to help so hope you get some useful tips soon

Risinfromthegutter

Thanks people. I feel like im in demand! So here is my much anticipated SOA:

Monthly Incomings:

My salary - £857.00 (approx) after ded'ns
Partners salary - £240.00
Benefits - WTC - £25.00
CTC - £212.00
CB - £70.00

Total - £1404.00

Monthly Outgoings:

Mortgage - £330
Council Tax - £94
Gas/Electric (dual) - £80
TV License - £11 (I pay 33 a qtr)
Phone - £PAYG (as and when we can afford to!) rarely!
Food - £160 (if we can afford to!)
Car Insurance - £60
Petrol - £80
Life Insurance - £30
MBNA CC - £21.00 (Minimum) (2800 balance)
NatWest CC - £78.00 (Minimum) 3300 balance
Travel - £80
Partner's mum - £70 (loan for car)
Buildings/Contents - £25
Water - £33 (in arrears til Oct then £21)

Total: £1152.00

Thats all i can think of off the top of my head. But im sure there's more expenditure than that.

I pay for most things from the expenditure list. My partner pays car insurance, petrol and buildings/contents. She also buys stuff for our 10 month old son and clothes herself! Me on the other hand, the last time I had new clothes was... er ... er... xmas? We occasionally will go for a night out and will spend about £30 between us... when's the next blue moon?

Hope this helps people

Mark

Toomuchdebt

The real experts will be along in a minute but car insurance seems to be very high.

Risinfromthegutter

My partner has only been passed a year n was on her mum's insurance last year.
It was about 620.00 for the year as opposed to 844.00 last year.

i cant drive, guna learn when i can afford it!!!

Toomuchdebt

Ouch that's still pretty high-I had quotes this year ranging from £800 to £300 so worth shopping around.