More of a lightning strike!!!

scootertam

Ive sat awake every night so far this year as I have now hit the very bottom of a hole I have no idea how to get myself out of!!!

Im using one CC to pay another, and have nearly always only paid the minimum payment - as this is all I could afford. My logic has been - 'by the time I need to pay for this I will be in a better position'. But that has never happened.

I have CCs, store cards, overdraft, and a loan - and now cannot go on another month. Oh yeah - plues theres the fortune I owe my mom for bailing me out.

I have now found out my OH is also struggling and at the end of overdraft every month - alhtough this mast month we have both been charged for going over our overdraft.

I dont even know exactly how much I pay or how much I owe - Im really scared to see the figure in front of me - although I know that is what I have to do this evening to get some advice.

I just needed to admit that Im in a mess - and I want to get it sorted out.

Vickicb

Hi Scootertam

Firstly calm down and take a deep breath, there is nothing that cannot be solved and you've admitted that you have a problem, which is the first step. :grouphug:

Next you need to sit down with a :coffee: and work out what you owe. This will be quite scarey as it will probably be more than you think it will be. But you need to know before you can go onto the next step.

Oh, and welcome!

LJD1_2

If you're like most of us, once you know the true extent of what you owe, however bad, it's usually a weight of your shoulders. At least then you'll know what you're dealing with and can take positive action to stop it getting any bigger. If you post what you owe on here there are lots of people who are really good and sorting stuff out and helping you save money. Welcome to the board and well done for making that first admission.

Reformed

Welcome.
Don't be afraid of the total, once you confront the numbers you can concentrate on knocking the total down. You learn quite alot along the way as well. Everyone here is around to help and show you how to be good with money. It's a skill that you CAN learn, we are all learning together. Just do the math and the 'experts' here will find solutions for you.

moonlightpjs

Hi and well done for posting - thats the hardest part over!!!!

Know exactly how you feel but coming on here has helped us a great deal - even its just reading other threads and realising that we are not the only ones in this mess. Try and stay calm (easier said than done I know) and when you feel up to it make a list of all your debts, once its all written down in front of you, you'll be able to see just where you stand (even though its scary)and then you can post a SOA and let the wonderful people on here help you.

You've made the right step, the biggest step, now just take small ones when you are ready. You will, I promise, start to see a light at the end of the tunnel and feel proud of yourself as you take positive actions.

Keep posting and wecome, someone will be along soon with better advice than I can give xx

angelavdavis

I sympathise with your sleepless nights....

You have done well so far and everyone is offering good advice here.:T

All you have to remember is dredging up the detail is the last of the pain, because actually, once you know what you are up against and list it out, everyone here offers solutions - be it tightening belts, increasing income or organisations that can assist you more formatively.

Good luck with your DFW venture!

whatatwit

Hi Scootertam, well done for making that post.

The next step is to write down all of your income and your outgoings, SOA, statement of affairs.
If you feel up to it, post it on this board, if necessary, start a new thread.
At the top of the board is Southern Scousers thread, it is a stickie and that will help you with your SOA.

If you seek advice from PayPlan or CCCS, then they will need to see an SOA.

Be strong and keep posting.

scootertam

OK I am now sitting with all my statements in front of me - only got mine though and not my partners right now.

I thankyou all for your positivity and advice. - I will post once I have the figures sorted.

lightatendoftunnel?

Welcome and good luck sorting things out. You have done the hardest part facing up to things. You have come the right place for good support and advise.

scootertam

OK I know that you guys want me to work out my SOA - which I am working on (and will post as soon as I have) - but have figured out (pretty much)
what I owe, and what I am paying (or trying to pay but now can't). Ive not added it up yet - but figured here was the best place to be to do it.

Littlewoods Credit Card - £963.90 (Minimum payment £48) 19.9%
Lloyds TSB Credit Card - £3937.31 (Minimum payment £79)18%
Argos Card - £515.85 (Minimum payment £40) @ 25.9%
Mint Credit Card - £730.81 (Minimum payment £16) 0% 2 months
Cahoot Loan - £2824.24 (Payment £65.68 over 60 months) 17 payments made
Littlewoods Catalogue - £452 (Minimum payment £52)
Studio Cards - £41.34 (Minimum payment £10)
Great Universal - £214.45 (Minimum payment £33)

Then not being dealt with are:
Overdraft - £1473 on Student Account (0% until September)
Bank of Mom Loan - £6000 (Nothing paid back yet)


TOTAL DEBT LEFT IN MY NAME ALONE = £17152.9 (also got to add my student loan onto that at some point in my life - luckily not yet - although interest is being added every month!!!)

TOTAL PER MONTH = 343.68 (Ive been guestimating it to be around £200!!!!!

I have to admit to being shocked at the total but I guess thats nothing new if the boards here are indicative of anything.

Thing is - I aint got an income right now - lost my job 12 months ago and had nothing permanent since then. I have just today received news of a full-time permanent position - and will then be picking up approx £800 month. But until then - I have nothing left.

whatatwit

Well done on posting the above, when does the job start?

Whilst it is often a shock to see it all there in black and white, you are now on the road to becoming debt free. :T