any advice welcome

rachel88_2

hi this is the first time i have used this site, but i am really wanting to get a grip on our money problems befor they get any further out of hand :eek:
any advice welcome:)

so me and my husband both work, he works full time (14000 pa) and i work part time (5000 pa)

we also have a daughter aged 3, and a son due in 6 weeks ( hence wanting to sort our money out!!)

now we have had a mortgage for 4 years now and currently pay £350 per month - however this could be changing very soon if the interst rate goes up :eek:

now are debts are:
1. loan barclays £4500
2. credit card m&s £4200
3. loan barclays £429
4 credit card £490
5 overdftft £1200
6 overdraft £700
7 studio £130
8 next £60


i am worried how we will manage if the mortgage goes up - we have been trying to pay these off - and have cleared nearly 1000 in the last 6 months - but that was mainly due to a nice extra payment from tax credits .

we are also a month behind in car insurance payments and owe the gas and electricity ppl £300

we did have a wacking great car bill of nealy £900 over new year which helped get us behind in the first place , and we still owe the garage nearly £300 for that too.

its just all getting on top of us now . :-(

BILLIE

You need to complete an SOA if you want advice. Sorry I am not clever enough to give you the link but know that someone will be along who can, but would like to wish you all the best to clear your debts and with the imminent new arrival. Billie xx

Just_Plain_Jane

Go here:

http://www.makesenseofcards.com/soacalc.html

Fill out the SOA and post it here. We will be able to advise you on any areas where you could make savings.

You will need the APRs for all your debts.

Superbiatch

And your only bills are priority ones such as mortgage, utilities and insurances - so these arrears need catching up on most urgently. Also, try to worrying as you are in no fit state! If you weren't able to pay all the bills, a debt management plan can be arranged but your first port of call is to show what you spend monthly (SOA) on literally everything to see if there is anything which can be saved