Need to focus ........DEBT........Any help welcome?

gemmylouise

Hi all

I posted on here a year ago because I had debts, I tried to pay them off but then personal things happened and now they are higher! I have no idea how much money is in my bank or how much I owe!

My boyfriend dumped me two weeks ago, I have been very low and unhappy. I've decided I need a challenge and something to keep me busy. I have plenty of things to sell on ebay. (Made a start on this)

I suppose the first thing I need to do is calculate the debt and all my bills, income etc.....argh....the thought of this is scary! I don't know where to start.

I am willing to make big lifestyle changes for my future!

Any help welcome!!!
Thanks
Gemmy

Hannah_10

It's Ok Gemmy, I've been where you are now. The first thing you do is get your credit files from each of the 3 CRA's (credit reference agencies). They are: https://www.experian.co.uk https://www.equifax.co.uk and https://www.callcredit.co.uk

On those websites you might see things like Sign Up to our CreditGuardDog service for just £10 a month with the first month free and see your file online instantly. Ignore that. People find it really hard to cancel, there are frequent posts here asking how to cancel those services. Also ignore anything about your credit "score", lenders don't even see that, it's a bit imaginary to be honest! What you're after is your £2 "statutory report" and you want it posted to you, rather than online, because it is a bit of a mission to fully comprehend the first time you try to. Even if you have to send it off by post, with £2 postal orders and so on, it's still better to wait than to see it online IMO. So yeah, get credit files and get them sent to you.

When you've got all 3 of your credit files back and you've got your head around what they mean you'll be in a position to list your debts. Or to list which of your debts have hit one or more of your files anyway (your 3 files probably wont match, sometimes only 1 or 2 of the CRA's know something about you, sometimes all 3 do).

gemmylouise

Yay I got a reply. Thank youuuuu

That sounds interesting, I would like to know what my reports show. I will look into this in the week. I am going through all my bills and bank statements right now, I plan to do my SOA in a minute to know exactly what is going on!

Thank you for the info
Gemmy

Hannah_10

Your SOA wont be complete without your list of debts, so don't worry about it yet.

If you're desperately keen to crack on then there is something you can do right now which is mega useful- a spending diary. Heard of this before? It basically means get a notebook and write down every single penny that leaves your possession as it happens. It means checking your bank account regularly to write down any DD's, jotting in every packet of chewing gum you pick up all the way up to the new tyres for the car and so on. By the time you've seen your credit files your spending diary should be a couple of weeks old and you should be able to make an SOA so accurate you'd make your old maths teacher cry with pride.

gemmylouise

Hiya a spending diary sounds a good idea for me, especially as I had a luxury £3.50 lunch on Friday instead of a 50p greggs sausage roll hahaha!

I can list my debts myself, I just need to finish sorting through this paperwork.

Nearly there now!

Thanks

Footiemad_2

gemmylouise wrote: »

Yay I got a reply. Thank youuuuu

That sounds interesting, I would like to know what my reports show. I will look into this in the week. I am going through all my bills and bank statements right now, I plan to do my SOA in a minute to know exactly what is going on!

Thank you for the info
Gemmy

Well done Gemmy for facing up everthing and asking for help and advice. You knew where to come.
I am sure you will get it sorted. You need to face your bank account too so that you know where you are financially till pay day at least.

You had no control over your relationship chick but your debt is something you can control and make head way into making you feel better.
Take back the control and everything will fall into place.

I am sure there will be some great people popping along to give advice on your SOA.

Good luck and look forward to seeing your progress.:A

Hannah_10

It's good that you can make your own list, that saves loads of time. If you can get an SOA together tonight then go for it, you can always do a more accurate one later down the line too if your files or diary change things. Do get those files, I can't imagine why I didn't start regularly getting mine years before I did. It reduces the fear-factor loads when you know exactly what they're all about too.

Footiemad_2

Gemmy

You may be doing it already, but its a good idea to plan your meals and take packed lunches to work. Its so much better. I do this all the time and it makes such a difference because the pennies can be saved or go towards clearing your debt.

There are a number of challenges to help you save, but I am sure you have seen them. Good luck.

gemmylouise

Footiemad wrote: »

Gemmy

You may be doing it already, but its a good idea to plan your meals and take packed lunches to work. Its so much better. I do this all the time and it makes such a difference because the pennies can be saved or go towards clearing your debt.
QUOTE]

Hiya, thanks for chatting! I am really bad at making packed lunches for work! I have settled for a 50p sausage roll as by the time I buy bread, fillings etc it is more expensive! This is all soooo positive now I've started. Thanks

Footiemad_2

gemmylouise wrote: »

Footiemad wrote: »

Gemmy

You may be doing it already, but its a good idea to plan your meals and take packed lunches to work. Its so much better. I do this all the time and it makes such a difference because the pennies can be saved or go towards clearing your debt.
QUOTE]

Hiya, thanks for chatting! I am really bad at making packed lunches for work! I have settled for a 50p sausage roll as by the time I buy bread, fillings etc it is more expensive! This is all soooo positive now I've started. Thanks

Your welcome chick, I have been there, not posted for help but have read a lot on here. Its funny but when you realise what debts you have and how restrictive they are to being happy then, you start to make things better by facing up to it.

Its a great feeling. Give yourself a pat on the back for what you have done so far.;)

Dont do sandwiches myself tend to make batch lots of food that I can have at home and then take to work saves loads of time and with all the things I do its a god send.

Look out for bargain soups etc...you will get your 5 a day without even trying and still save money. Cheats way.:rotfl::rotfl::rotfl:

I cant remember the name of the thread that gives out advice on cooking etc. Will have a look see and pop it on here for you.;)

Footiemad_2

:wave: Hi Gemmy

I am back again ...have a look at the Frugal Living Challenge 2011 - part 1. Also have a look at some of the Debt free diaries there are some inspirational stories there that will spur you on and also there is a full list of challenges. Take your pick. x