Help - desperate and don't know where to start!

MrsTurnip

I'm in teh never ending debt spiral and I cannot seem to get out - I seem to have managed to get loans to pay credit cards and overdrafts off and yet I then just re-use the credit cards and overdraft and am in a worse position than when I started so dont want to go there. I am useless. The debt is so bad I cannot see a way to start reducing it so I give up.... Has anyone else that was as useless as me got any good tips for starting out?!

Total debt: £62,800

Mortgage: £31,000 (approx)
Other: £31,800 (approx)


Credit card 1: £5,800 (approx) interest free for the moment
Credit card 2: £3,000 (approx)
Overdraft: £2,000 (approx)
Student loan: £3,000 (approx) low interest rate
Partner: £6,000 (approx) interest free at the moment
Loan: £12,000 (approx) low interest fixed

I don't even know what the exact amounts are - head in sand philosophy and life to busy to sit and work it out type attitude!

ricksExpensive

Morning MrsTurnip

Chill out, and dont worry your head is the first thing then

Could you please post up your monthly income and outgoings, this is first thing people tend to ask for to help you out.

Keep a smile on your face

lynzpower

hiya Mrs Turnip :wave:

dont stress overly right now.

the best thing you can do now is read Southern Scousers sticky and do for us a statement of affiars or SOA. thats all your incomes & outgoings & debts & APRs.

Read the sticky and use martins budget planner to help you ( at top of page)

Have a nice :coffee: sort through your papers. Once youve done that, post the SOA up here, and we can have a good luck and see what savings there are, and what advice we can give you

hang in there you are among freinds

Lynz
x

dancingfairy

Just wanted to say hi and welcome :hello: Don't panic we can help you sort it out. You need to do your SOA first as Lynz says then we can see where to go from there. Don't worry if it takes you a while. We'll still be here when you get back.

MrsTurnip

OK - thats a mammoth task (thats how bad I am) so I will start by dedicatingthis weekend to turf out all my nasty horrid statements and credit card bills (I normally leave them unopened!) and will do a full summary of the awful picture.... and then come back to you guys for some great help later on after the weekend....! THANK YOU!

lynzpower

No problem sugar

and also, as a rule here, we dont include mortgages in debt ( but arrears are counted as a rule) but many of us will be heading to mortgage free wannabee when the other debts have gone!

Dont panic

anniestar

Hi just wanted to say welcome to the board. Dont worry you will get loads of help here.

Verbatim

Hi there Mrs turnip,

Welcome to DFW. Might be interesting to look at the start of Moozie's thread on this board, "Too scared to work out what I owe". And obviously what lynz and the others say, have a cuppa and start opening the envelopes and putting them into piles/date order.

Don't worry and come back soon.

Morglin

Post your SOA and then you'll get help from this board.

If you need to actually see someone and talk to them, then try this, as they will refer you to someone local:

http://www.cccs.co.uk/

Good luck

Lin