would really appreciate 2 minutes of your time folks....

antpugh

thanks for the suggestion but as I said before, I am living in Malaysia at the mo and therefore I can't do that!!

My phone charges are for both landline which I need and also my mobile which I don't use too much and therefore isn't costing me too much!

Am just in the middle of giving this snowball calculator a go - it doesn't seem to have any features available for my one credit card on which I am paying 2 different interest rates on!

Any more suggestions anyone?

needaspirin

I'm a volunteer with Citizens Advice Bureau and deal with debt every day. Looking at your details you seem to have ample surplus income each month.

Income: £1883.33
Outgoings: £ 908.68 (You got your sums wrong )
Debt repayment: £ 500.00 (your assessment)
Surplus income: £ 474.65

After using the tips posted by other readers to cut back on outgoings, use as much as possible of your surplus income to pay off the highest rate creditors (Sony MBNA @22.9%). You MUST pay more than min payments or you will never be clear. Make sacrifices now and your money will be your own in the future. ...Jim

Also:-

There are currently 3 Credit Reference Agencies in UK your records could be held by any/all of them:

Experian Limited
Consumer Help Service
PO Box 9000
Nottingham
NG80 7WF

Tel: 0870 241 6212
Website: https://www.experian.co.uk

Equifax plc
Credit File Advice Centre
PO Box 1140
Bradford
BD1 5US

Tel: 0870 010 0583
Website: https://www.equifax.co.uk

Callcredit plc
PO Box 491
Leeds
LS3 1WZ

Tel: 0870 060 1414
Website: https://www.callcredit.co.uk

needaspirin

PS. Cut up ALL of your credit cards. Pay by cash & you'll know where your money's going

antpugh

Thanks very much for the response Jim - I really appreciate you taking the time to go through my figures. I have just had a go with that snowball calculator which has given me extremely positive results, reckons I could be debt clear (except for student loan) in 24 months!! That would be amazing, and if I could stick to it I am confident my salary will only increase within the next few years so that can only help the issue. I think my main problem is that I have money coming out from so many different places that I have no idea what is going on. Do you have any advice as to how I keep all my accounts in order so i know what I am spending and on what? One of the things that gets me is that I pay different bills on different dates each month, it gets really confusing. I recently set up a spreadsheet to calulate how much money I need in which bank at what time but I'm not sure it is too helpful!

Thanks again for your guidance it is extremely helpful. I am feeling much better about all this than I was 24 hours ago when i was at the end of my tether.

Imelda

hi antpugh,

Well done on joining us and posting your SOA!

As regards to keeping track of your accounts, most of us here use spreadsheets too, have you tried Martin's one? Take a look at the link in yellow at the top of the board. Do you have just one bank account? I find it easier to have all my essential bills leaving one account, I pay a fixed amount into this account so I know there is always money there to pay for things. Then I have another account for things such as socialising, travel, clothes, holidays, birthday presents, haircuts, stamps, work lunch etc and when it's gone, it's gone but at least I know my bills are paid. It has also become a bit of a challenge to have money left over in my "spending" account which also gets knocked off my debt. Organisation really is key to getting your debts sorted out.
Also, a cleaner? This is a luxury you really can't afford, is it a shared flat? Maybe you could offer to clean for your flat mates and earn an extra bit of cash!

antpugh

it is impossible not to use credit cards for some things though isn't it?!

antpugh

yeah I have a cleaner - sounds a bit luxury I know but its only £6 a week and it would take me hours when I could be working instead which in the long run is worth a lot more money if I do well with the business - I think anyway! (or is this just me being lazy?!)

Really great idea about using one bank for one thing and the other for other things - I have enough accounts so I should probably start using them all!!!!! LOL!!!

sarahs999

I stopped using CCs a long time ago and have found nothing so far that NEEDS a credit card. DEbit cards are usually accepted at the same places. Might be different in Malaysia though. I lived in Cambodia for four years and nowhere there accepts a credit card - it was bliss!

antpugh

wow you'll have to tell me some nice places to visit (although not on here or I'll get lynched for wasting money on travel!!!)

I understand what you are saying though!

Having looked at the snowball calculator and comparing it to the money I would spend on a personal loan, it is saying that I would spend nearly twice as much on interest over the 24 months than I would be paying if I took out a loan.

So my point is - surely it is still a better idea to try and consolidate into a loan??

Mrs_Optimist

Just a thought, but do you think you may have been refused the loan because you are not resident in the UK???