i don't understand how to get out of debt?

chazsucks

thank you so much everyone! this website is so helpful, i will do the soa and post it and see what everyone says thank you again xx

prophecy_grrl

Also Chaz, well done on quitting smoking, bet that will save you a small fortune :-)

katenut

prophecy_grrl wrote: »

Also Chaz, well done on quitting smoking, bet that will save you a small fortune :-)

Well done!!

Also wanted to mention if you are in an unauthorised overdraft, you could open another basic bank account (make sure you apply for a BASIC one - I'm not sure which banks do this but someone else will come along who knows i'm sure!). You should be able to get one no matter what your credit rating is like. Just make sure it is a bank you don't have any debts with.

If you then use this account to get any money paid into, it won't be swallowed up by your overdraft. You can then start paying off your overdraft along with your other debts.

Hope this makes sense, i'm not very good at explaining things without waffling! xx

hamsterfan1

katenut wrote: »

Well done!!

Also wanted to mention if you are in an unauthorised overdraft, you could open another basic bank account (make sure you apply for a BASIC one - I'm not sure which banks do this but someone else will come along who knows i'm sure!). You should be able to get one no matter what your credit rating is like. Just make sure it is a bank you don't have any debts with.

If you then use this account to get any money paid into, it won't be swallowed up by your overdraft. You can then start paying off your overdraft along with your other debts.

Hope this makes sense, i'm not very good at explaining things without waffling! xx

If you ring either moneymade clear on 0300 500 5000 or the FSA on 0845 606 1234 they will be able to give you a list of all banks offering this type of account

josie836

Try Co op or Barclays for basic accounts. Both allow dd's and have internet banking

tealady

Hi
If you have a little one then how about selling things they have outgrown?
I would also keep a spending diary (piece of scrap paper will do) as it is suprising how much can get swallowed up in the little bits and pieces.
Try the downsize challenge as well.
Whatever you decide good luck with it.