Advice/Help

Robicles2

Hi Guys,

Im not sure if I have picked the right forum for that so let me know if I need to ask for this to be removed.

Currently I am not in any immediate financial problems. I am getting by ok and do not have anything to bad overhanging, however, I am coming slowly closer and closer to the point where I will be in serious problems with debt If I am not careful.

I'm sure most of you have seen this a million times before, but I've slowly fallen into the payday loan trap! whilst I am paying these off every month I am having to take another one (often a little larger) to cover the following month, eventually this obviously leads to me being in danger of not being able to pay back!

I have looked into credit cards to try and consolidate my deficit that way, rather than pay Wonga £200-300 a month in interest I'd prefer to pay a credit card a little less! this way the other money could go to reducing the gap - unfortunatly due to having an outstanding £1500 overdraft, a court order dating back 4 months and not being on the electorial register yet at my new property I am unable to get credit.

Is there anything you guys would recommend? my income is steady and I have only mild expenditure montly its just the size of the interest thats making it so hard to get past this!

Thank you sosos much in advance!!!!,

Rob

Tixy

Hi

Doesn't sound like you will get any further credit with such a recent court order (aside from more payday loans which is obviously a route to avoid if you can). Have you worked out a detailed income & expenditure to see what you should have left each month after essential expenditure? I would do this to start and if you can post on here along with details of your outstanding debts and pdls we can take a look and see what else we can suggest.
Do you have more than 1 pdl each month? if you do then can you cut back to essentials only or try selling things to try to get one repaid in full without having to roll it over or having to take it out again?