Newbie in need of HHEEEELLLLLLP!!!

sparkyt2

Hi there everyone!

I've been reading some of the inspirational stories on here! And they have inspired me to take some action and try to do something about my debt!!
(very worried and overwhelmed??? Not sure how i start???)

I want to do it but just not sure how to tackle??

Any help greatly appreciated!

Mike_St_Helens

sparkyt2 wrote:

Hi there everyone!

I've been reading some of the inspirational stories on here! And they have inspired me to take some action and try to do something about my debt!!
(very worried and overwhelmed??? Not sure how i start???)

I want to do it but just not sure how to tackle??

Any help greatly appreciated!

Hiya... Welcome....

I think your first bet would be an SOA, Statement of affairs.. Put down your income and expenditure and balances.. See Southern Scousers thread at the top for a notelet !

Then pop next door, Ive always got a bottl e of wine on the go, meet the gang....

Mike

Maz6

Hi Sparky

First of all well done on wanting to sort things out. It can be scary but is also empowering to thing you're moving forward.

Post a statemnet of affairs (see the sticky thread at the top of the board) and all the dfw peeps will do our best to advise ways you can cut back.

Good luck
Maz

bananakinz

First thing is to make a list of your debts, and your Statement of Affairs (SOA) theres a sticky thread at the top which you can base it on.

You can then post it for all to analyse as see where you can save money and/or move it to a better place

Good Luck

sparkyt2

Thanks guys!! Will go and do that now!!!

Please check back to give me some help!!!
Sure it's going to be very very scary!!!! x

chevalier

we'll be hear. we don't have (much of ) a life!

Brassic

I'm sure you'll get loads of help here, it's a great place full of lovely supportive folks. Just make sure you include Everything in your SOA - we're not being nosy - it's just that way we can help you best!

Well done on taking the first step :T

sparkyt2

Hi guys!!

not very good at this getting round the boards thing?? finally found the 'sticky' thing you were talking about and here is how bad it looks??

Monthly Incomings:

My salary - £1,586.66

Total - £1,586.66 (no other income??)

Monthly Outgoings:Ahhhh!!! lots of them??

Mortgage/Rent - £160 (still live with parents)
Phone/ Broadband- £45.00
Food - £50
Petrol - £60
Mobile Phone - £32

Total: £347

AMEX CC – Balance £3,709 (limit £3,900) APR 12.9% £95

BOS Loan – £13,294 APR 6.9% Length of term 62 months, 53 months to go @ £246pm

BOS Loan - £3,027 APR 6.9% Length of term 62 months, 22 months to go @ £144

Next CC - £1,171 29.9% APR (limit £3,600) £105pm

Pref CC - £459 29.9% (limit £500) £10pm

Addition Acc - £685 29.9% (limit £1,300) £75pm

LLYODS Visa - £3,465.98 (limit £5000) £80pm

Mastercard £0

Barclaycard £0

TOTAL £25,820 (oh my god!!!!!)

Overdraft £300

Think i might have to cry???? Feel terrible as i don't even have all the commitments all you guys do! but feel like all my money is leaving my bank account on payday!! and i have nothing left!

Advice please guys x

sparkyt2

Oh forgot about student loans?

Loan1 - £104 pm
Loan2 - £54pm

Aparently have to pay both back at once as they were taken out under different schemes or something like that???

lyric_grace

Your in the right place! You haven't said what the minimum payment is on your credit cards so it's hard to see what your out goings are. Just a few quick pointers though, can you downgrade the phone and internet? Perhaps to somthing cheaper? Maybe combine mobile and broadband or somthing like that? £50 a month on food seems cheap do you buy everything or is this just on lunches at work? Mayeb you could make sarnies thus cutting some costs down to throw at your debts? Hopefully someone with way more knowledge and ideas will be along shortly but for now keep your chin up, you've got friends here!

sparkyt2

thanks lyric!

Still stay with parents so that's why food is cheap i'll add monthly payments now!! x