Really need some help!

moredebt

Our debt has gone out of control and we owe approx £35k on loans and credit cards. We are behind with our mortgage. I have just gone back to work so we can start clearing debts. I was a full time mum for the last 7yrs so that hasn't helped our situation. We just don't know where to start! We thought about an IVA but heard too much negative things about them. We thought about consolidating all our debts into one bug loan but that just seems so scary we worry about committing to something for 25yrs when we don't know what the future will hold on the job side of things.

I just don't know where to turn to for advice!

3Dogs

First of all well done for facing up to your debts and secondly well done for posting on here - you have come to the right place

The best thing to do is to complete a Statement of Affairs (SOA) and post it on here - it will be hard as it may be the first time that you have actually seen your income and expenditure together with your debts in print in one place - don't worry, every problem can be solved - you can do this using this link http://www.makesenseofcards.com/soacalc.html

People on here can then look at this, assess the situation and offer guidance on how to deal with your situation

Good luck and ((hugs))

Stuckinarut

Most people will advise you to do a SOA (statement of affairs) this way it will allow the more experienced people to be able to help you reduce some outgoings and suggest options for the debt

NorthernLas

Have a read of Martin's article http://www.moneysavingexpert.com/loans/debt-help-plan.

There are several organisations that can help you, they are mentioned in the article, but they are National Debtline, CAB, CCCS. Please don't go to any company who charges an up front or monthly managemennt fee. You can also sort out a plan to pay off your debts yourself.

The national debtline website has a self help pack that guides you through what to do. From what you have said, your priority should be to get your mortgage back on track (arrears on council tax, utilities also).

The people on this forum can also help.