Debt advice please....

BellaMay10

Hello, just hoping for some advice from some people more in the know than me...

I am in bad debt totalling about £22,000. This is as a result of some bad decisions in the past and generally not being great with my money. I know I'm stupid but there's nothing I can do to chnage it now so I've got to deal with the consequences. My husband has also had debt problems in the past and has been on a DMP, although has now finished that and just has agreements with his final creditors.

My debt is spread over a loan, 2 credit cards and an overdraft. I currently pay about £600 a month (paying just the minimum amounts on everything). I also have a joint mortgage (with my husband) of £130k but don't have much equity in the house thanks to buying it just before the crash! The mortgage is interest only.

Because of my husbands past problems we keep our finances very separate (apart from the mortgage) and I'm really struggling to meet my payments now. I take home around £1350 a month and after the mortgage, bills, diesel and my debts there is literally nothing left - every month end I'm scrabbling round trying to find money to put in my bank to avoid going over my overdraft limit or paying for food shopping, diesel etc on my credit card which I know is silly.

I'm just really wondering if anyone can offer some advice on what I should do - Ideally I would avoid anything that would have an impact on my credit score as I've managed to keep that ok at the moment. I'm thinking a debt consolidation loan to try to make the amount I pay out a month a bit more affordable, even if it would mean I was paying it off over a longer period - but don't know whether thats the right thing to do?! If it is the right thing, which banks/loan companies would be best to approach?

Any help would be greatly recieved. Thanks

johnloch2008

Hi there
Is the debt personal or business? Personal debt can be dealt with by most of the FREE debt agencies like CAB, CCCS, Christians Against Poverty, etc. Business debt is a wee bit more of a challenge (Google the Natinal Business Debtline).

Also It depends upon which city you are in to get an office-based advisor. Which one are you and I can search for some addresses for you?
Whatever you do, don't just head for the TV ad companies.

John

katsu

BellaMay10,

If you look at the sticky threads there is one for an SOA. Fill it in and post it and we will see if we can help you free up some cash to help pay your debts.