Help needed

Pollycat

Jellybean
just seen your new SOA, it looks a lot healthier! :T

One point I've made before - you have no petrol in your SOA but have 2 cars, shouldn't there be something in for that?

And maybe something for car maintenance/MOT?

Apologies if you've explained this before (maybe it's in your business costs?).

RAS

jellybean39 wrote: »

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 250000...(1805).....4.29
Hire Purchase (HP) debt ...... 6700.....(325)......9.1
Total secured & HP debts...... 256700....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................8100......425.......17
barclaycard....................10400.....105.......11.9 - limit on this card? Was it a balance transfer.
nationwide.....................600.......50........17.9 - limit?
egg2...........................1900......100.......17.9 - limit?
egg1...........................3200......150.......17.9 - limit?
santander......................399.......50........0
next...........................300.......50........29.9
Total unsecured debts..........24899.....930.......-

What are the limits on these cards?

jellybean39

RAS wrote: »

What are the limits on these cards?

the limits are frozen as i have cancelled them.
barclaycard was transfer some of the balance is lower interest but finishes soon 11,9 is my standard interest. low for nowadays.

jellybean39

Pollycat wrote: »

Jellybean
just seen your new SOA, it looks a lot healthier! :T

One point I've made before - you have no petrol in your SOA but have 2 cars, shouldn't there be something in for that?

And maybe something for car maintenance/MOT?

Apologies if you've explained this before (maybe it's in your business costs?).

yes hun put it in as business costs.

millionaire_in_training

Hi Jellybean. Just read through and looks like you are on the right path now. It's terrfiying when you realise how bad things are but everyone always feels better once the whole position is known and there is a plan of action in place. I agree that next has got to go ASAP as that interest rate is mad. I would then use than £50 to overpay on next highest one and so on and so on. That's what I am trying to do. Good luck I'm in this until at least 29 months so I'll keep you company .

jellybean39

millionaire_in_training wrote: »

Hi Jellybean. Just read through and looks like you are on the right path now. It's terrfiying when you realise how bad things are but everyone always feels better once the whole position is known and there is a plan of action in place. I agree that next has got to go ASAP as that interest rate is mad. I would then use than £50 to overpay on next highest one and so on and so on. That's what I am trying to do. Good luck I'm in this until at least 29 months so I'll keep you company .

mines 33 so we keep going together !!!!!!

maggie_12

Hi Jellybean!!

It sounds like you're at the start of a long road ahead of you, but one that had to start at some point and better now than later!!

Someone above mentioned starting with paying off the next card. I'd agree!! I know it's small beer compared to all the other debt but it will be relatively easy and quick for you to pay that one off compared to the others and then you will have a major boost of confidence as you've paid one full debt off!! Then you can take the next small thing and get rid of that and so on.

I have no great solutions for the large debt, it will take time so you have to try and stay strong. If you have any credit cards that you are still using, cut them up right away!!! I mean like NOW!! It has taken me a long time to pay off my credit cards and I haven't spent on them in many years! So, if you keep spending on them, you'll be fighting a losing battle, cut them up and then all you can physically do is make payments!

My other suggestion would have been to sell your house but I see you've tried that and it's not budging. I hear ya! My flat has only just sold after a year and 3 months. If you've still got it on the market it might still sell. Do everything you can to maximise your chances of viewings/sales and make sure your estate agent is being reasonably aggressive. To be honest, with the amount of debt you're in I can only see selling your house and downsizing as the answer to your problems! You might not get much profit from the sale but a smaller mortgage will help give you more money to put towards your debt.

Wishing you bucket loads of luck!! Stay strong and positive and just think to yourself "From this moment on, there's only one way my debt is going and that's down the way not up!"

Cx

jellybean39

maggie_12 wrote: »

Hi Jellybean!!

It sounds like you're at the start of a long road ahead of you, but one that had to start at some point and better now than later!!

Someone above mentioned starting with paying off the next card. I'd agree!! I know it's small beer compared to all the other debt but it will be relatively easy and quick for you to pay that one off compared to the others and then you will have a major boost of confidence as you've paid one full debt off!! Then you can take the next small thing and get rid of that and so on.

I have no great solutions for the large debt, it will take time so you have to try and stay strong. If you have any credit cards that you are still using, cut them up right away!!! I mean like NOW!! It has taken me a long time to pay off my credit cards and I haven't spent on them in many years! So, if you keep spending on them, you'll be fighting a losing battle, cut them up and then all you can physically do is make payments!

My other suggestion would have been to sell your house but I see you've tried that and it's not budging. I hear ya! My flat has only just sold after a year and 3 months. If you've still got it on the market it might still sell. Do everything you can to maximise your chances of viewings/sales and make sure your estate agent is being reasonably aggressive. To be honest, with the amount of debt you're in I can only see selling your house and downsizing as the answer to your problems! You might not get much profit from the sale but a smaller mortgage will help give you more money to put towards your debt.

Wishing you bucket loads of luck!! Stay strong and positive and just think to yourself "From this moment on, there's only one way my debt is going and that's down the way not up!"

Cx

hey thank you for encouragemnt.
Have just realised where most of money went i have sorted out and been very ruthless and have enough stuff to do about 3 car boot sales and i have only done my wardrode! 33 pairs of shoes later tut! and around 30 handbags. £2 coin pot saved since march 800 quid!!!
penny jar 59.01!!!!! netx now paid yeah!!!!!! and nationwide on its way down!!!!!!!!!!!!!!!!!:T

millionaire_in_training

There you go. How good does that feel? It just takes facing this and concentrating on it to enable you to get rid of it. It seems to me that you have capacity to make more money than your salary i.e. tips and if I was you I'd throw everything at this until the squeeze is much better on your purse strings. Good on you :beer:

maggie_12

Well done you!!! It's all fun and games when you're spending the money on stuff, which lets face it, none of us actually need but then reality hits hard. Don't forget to try ebay too, car boot sales are a good idea but you might make more money selling your stuff on ebay (I'll watch out for the handbags being listed haha!).

Cx