Debt Help.

FrankieUK

Hi all.

So i am in debt with natwest bank £2653 from when i was 18, im now 23, i've not heard ANYTHING from then since 2009 and now im getting worried about it, obviously that sounds stupid but a lot of stuff happened from 18 upwards and i just didn't give a damn about it but now i know i need to get it sorted.

I'm financially unstable and i can't even have my own debit card with me I'M 23!! i feel like i've lost my independence because of it, in one way i understand it and it will probably help in the long run.

I'm also around £700 in debt with these pathetic payday loans, they shouldn't be so easy to get!.

I'm asking what do i do? where do i start? i was thinking of writing all my debts down but after that i don't know!, i was told to ring the national debt line and have a chat with them

Thank you for your help, i hope someday i will get independence back and to be debt free.

no_choice_now

FrankieUK wrote: »

Hi all.

So i am in debt with natwest bank £2653 from when i was 18, im now 23, i've not heard ANYTHING from then since 2009 and now im getting worried about it, obviously that sounds stupid but a lot of stuff happened from 18 upwards and i just didn't give a damn about it but now i know i need to get it sorted.

I'm financially unstable and i can't even have my own debit card with me I'M 23!! i feel like i've lost my independence because of it, in one way i understand it and it will probably help in the long run.

I'm also around £700 in debt with these pathetic payday loans, they shouldn't be so easy to get!.

I'm asking what do i do? where do i start? i was thinking of writing all my debts down but after that i don't know!, i was told to ring the national debt line and have a chat with them

Thank you for your help, i hope someday i will get independence back and to be debt free.

Hi FrankieUK,

Well many people would agree the first thing you need to do is to make a list as best you can of all the debts you have. I know it's scary and lots of people on the forum have had to face up to this fact, but when you've made a list of everything you owe it's somewhat relieving to know the size of the beast you have to fight.

If you've been burying your head in the sand you've probably got a pile of unopened mail from various people. Get started, with the top letter, just open it, write down what the debt is, how much it is, and who is trying to collect it.

When you've done that come and share the list here and the fantastic people here will help you work on an SoA to get a bigger picture of what your situation is.

Sizing up the issue is the first stage in making plans to sort it out so take the plunge and start making a list. What else have you got to do at nearly 5am if you're up worrying?

Tixy

Hi frankie and welcome.

Well done for deciding to tackle things and making a start with your debts.

From the sounds of it your level of debts is not too bad, but when a lot are payday loans it can feel a lot worse I know. Are you currently rolling over/extending the payday loans each month?

First as you say make a list of the debts you have.
Then write out a detailed income & expenditure to work out what you have coming in and what you need to pay out each month (before debt repayments). That should then give you a starting point to work out how much you should be able to afford to your debts each month.

We use this form - and if you post the results on here people should be able to advise you with a way forward - http://www.makesenseofcards.com/soacalc.html