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I'm back!!! After clearing my debts i'm in a bit of a mess!
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jak
Posts: 2,027 Forumite


I managed t clear my debts a few years ago much to my joy! Sadly my marriage has broken up and i'm now a single parent living on benefits and i've got myself into a bit of a mess again.
I'm so annoyed with myself. It's been a hard year but i've taken my eye off the ball and now i'm in a bit of a mess.
I owe:
£1000 over draft
£386 credit card
£500 laptop - due 5 october (0% untill then)
£617 washing machine (0% until Feb 2011)
I have got £750 coming out of a regular saver in a few days BUTi'm not sure what's best to pay off. I wanted to clear my overdraft but now i'm scared i'll run it up again. Any thoughts?
A friend also owes me £250 but she's about to get married and I don't really want to ask for the money back until shes back from honeymoon as she's had a really hard time with her husband to be being made redundant etc.
I just feel like it's got a bit out of control recently so I really need to sort myself out. I will be going back to work in Sept. childminding for a friend a few days a week but I really want to sort things out ASAP before then if I can.
Anyway, rant over. Any advise would be apprecieted. I have found this forum invaluable in the past and hope to have some words of wisdom!!!! Please!!!
J
X
I'm so annoyed with myself. It's been a hard year but i've taken my eye off the ball and now i'm in a bit of a mess.
I owe:
£1000 over draft
£386 credit card
£500 laptop - due 5 october (0% untill then)
£617 washing machine (0% until Feb 2011)
I have got £750 coming out of a regular saver in a few days BUTi'm not sure what's best to pay off. I wanted to clear my overdraft but now i'm scared i'll run it up again. Any thoughts?
A friend also owes me £250 but she's about to get married and I don't really want to ask for the money back until shes back from honeymoon as she's had a really hard time with her husband to be being made redundant etc.
I just feel like it's got a bit out of control recently so I really need to sort myself out. I will be going back to work in Sept. childminding for a friend a few days a week but I really want to sort things out ASAP before then if I can.
Anyway, rant over. Any advise would be apprecieted. I have found this forum invaluable in the past and hope to have some words of wisdom!!!! Please!!!
J
X
2022 Comp total (prizes + free spins): £494.81 #20 £12 a day Jan: £382.95/£372 #57 360 1p challenge: £17.70 £10 a day Feb: £571.09/£280 March: £311.96/£310
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Comments
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Hi Jak,
Unfortunately it's sometimes just too tempting to fall back on credit (and think most of us have done it!!) but it is done now so need to think positive and get it cleared again
You don't say what the interest is on the cc and overdraft or if you are getting charges on the o/d. Unless you are on a very low or 0% balance on the cc I would suggest paying that off first (and then cancelling the account to take away the temptation to spend on it again). After that either the o/d if it has a highish interest and/or charges or if it's free then the laptop so that it will def be paid off by the time your interest free period ends (am assuming it is on hp or catalogue and their interest rates tend to be horrendous when the 0% offers end).
Best way I find to get organised is to make a budget with what I have coming in and out and therefore what (if anything) I have spare to throw at the debts.
Good luck with it0 -
i would reccomend at least mentioning the cash to the friend - yuo don't want it to come as too much of a shock to her, after hse may have maxed her cards on honeymoon....
good luck sweetie.
Stashbuster - 2014 98/100 - 2015 175/200 - 2016 501 / 500 2017 - 200 / 500 2018 3 / 500
:T:T0 -
mention to your friend that you have to pay off your credit cards soon. Just drop it into conversation, and you never know she may be able to give you £50 towards it then and there! I would look at cancelling your credit card. use the money you can get hold of to clear it and then get rid of it before you start relying on it. Then focus on reducing your overdraft, you could get that down a fair wack before october, when obviously the finance becomes an issue. How much is the apr on the laptop?Today's Debt:
B/Card = £6,410 F/D = £3,190
Loan = £0 Woohoo!
Total Debt = £9500
Debt as of 26-1-11:
Total Debt = £14,3250 -
Pay off the credit card and cancel it - less of a temptation then. Then put money towards either your overdraft or finance on the laptop, am guessing it might be anything as high as 29.9% (but correct me if I'm wrong)** Total debt: £6950.82 ± May NSDs 1/10 **** Fat Bum Shrinking: -7/56lbs **
**SPC 2012 #1498 -£152 and 1499 ***
I do it all because I'm scared.
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Def agree re the credit card route, also mention it to your friend, as the others have say she may well max out her card on honeymoon, or spent out with the wedding, and maybe forget that she owes you the money.
Try and have a word and come to some arrangement about paying it back.
xxxx rip dad... we had our ups and downs but we’re always be family xx0 -
Thanks everyone. I have bitten the bullet and text my friend to ask about repaying te money after the wedding and she said she's going to ring me tonight to discuss it so that's good. The apr on the laptop is 29.9% from Oct. 5th. I think i'm going to pay off my credit card and freeze it (literally!!!) then pay off some of my overdraft, cancelling a bit more every month hopefully. (Lloyds hate that bt I don't care!) Then i'm going to 1. sell everything not nailed down, 2. Try and get some jewellry made to take to car boot sales etc. 3. start working asap!
I just hope I sort myself out sooner rather than later. I'm really hoping to pay off the laptop by Oct. so if I start to pay a bit off each month, hopefully that'll help. I just feel really helpless at the moment, everything has just gt too much.
J
X2022 Comp total (prizes + free spins): £494.81 #20 £12 a day Jan: £382.95/£372 #57 360 1p challenge: £17.70 £10 a day Feb: £571.09/£280 March: £311.96/£3100 -
If the APR on the card is less than 29.9, it might make more sense to pay off the laptop...
... Anyway, you should know the drill and post a SoA if you need advice that specific.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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