What do I do first?

luna1

Hi,
I am very glad that I have found this site. I am a 44 years old desperate woman and there is my situation:
I have some credit cards debts , they add about £10000 and a business loan £12000, I have my own little business and it is going ok, the problem is I have to paid a month between loan and credit cards about £500, and I am really strugling. I have not missed payments yet, but it is getting very close to it. I am living with my partner, the relationship is not working at all but I feel that I need to sort out my finances before i take a big decision. I am just trying :obut the stress of keeping my finances out of trouble is so draining and I am working sooooo hard to keep myself going. I just need help to know how i could consolidate my debts before I ge in trouble? Is it any way?
Please, reply I will really appreciate your advice.

Buffythedebtslayer

Hello

Hope you haven't disappeared, it is so easy for a thread to get lost on the boards.

You have to work out exactly what you owe, which is in itself a depressing thing to do but it is the first part of the way out of this I promise.

Next thing is to check your credit rating, if you are ok have a look round for a 0% balance transfer for some of the CC debt at least.

You should pay the highest interest debts first to save yourself money on the interest.

You could also post an SOA for people to advise re monthly expenses. I am sorry your relationship isn't going well- are all the debts down to you? are they the issue?

There are links for the SOA and the Snowball your debts (to see how best to pay them off) but I am so sleepy I will be back tomorrow to see how you are

Take care and please remember you aren't the only one

Buffy xx

beanielou

Good advice there from Buffy.