Can I sort it now???

woodfairy

Move as much of your high interest debt to lower interest cards as you can - eg LX direct/ Virgin onto Egg/ RBS. You may not reduce your minimum monthly payments, but you'll pay off your debt a whole lot quicker.

Find out when your Egg birthday is and if you're still eligible for their 0% birthday deal. Then transfer as much as you can off your egg card to another card, and then back onto your egg card so you get an interest free period (can't remember how long it is, but should be worth having.).

When you finish paying off a credit card, cancel it. This should help your credit rating a little - they can look at the amount of credit available to you already, even if you're not using it. You may be able to get some cheaper credit more quickly.

HTH - and good luck!

Kazonline

Well done on posting your SOA Webbo. Being in a pickle myself I'm not the best person to advise on what to do, but I'm guessing it would also help if you listed what the current min. payments are on each of your credit cards.
Mainly I just wanted to say well done for coming back - I know how hard it can be as I find that my lightbulb tends to flicker as opposed to shine bright & stay on. Debt & depression is quite a challenging combination.
Best wishes,
Kaz x

woodfairy

webbo1981 wrote:

Yes I do have a car, a costly one at that. sierra Cosworth. However it is off the road due to needed work on it. So I am not using it. The only place to keep it is in the council garage. I live on a bus route road with no drive.

As for Sky, I guess I could get rid of it it's just it's my only entertainment at the minute. I don't go out or anywhere because I can't afford it. Just watch Sky.

Regards

How long have you been without a working car? Can you sell it on, even if it needs work doing to it? (sorry, know nothing about cars!). If you're making do without it at the moment, maybe it's not an essential? And that way you can save the garage money and have a bit to pay off debt.

Tough call I know! I'd find it difficult without my car!

webbo1981

whatatwit wrote:

Hi Webbo, well done for posting.

Ignoring your gym membership, but leaving in the Sky, I get your main outgoings as:

Rent 217
3 30
Garage 27
sky 26
NTL 45

This totals £345 per month, which leaves you with a balance of £705 to go towards debts.

As no doubt the £705 never seems available, then start to keep a spending diary and you will soon see where the money is going.

If you want to keep the Sky, then cancel the Gym. How often do you go and how much else do you spend whilst you are there.

very good point about the gym. I don't really attend at all. However my aim was to start too go just to get me out the house etc.

webbo1981

sured wrote:

have you read martins article on the cheap gym loophole, its on the home page, this could save you some money.
i'm also quite sure you could reduce the cost of ntl, i'll have a look to see if i can find a cheaper deal for you,
by the way well done for posting your soa, facing up to it is hard
good luck

thankyou, look forward to your help

webbo1981

woodfairy wrote:

Move as much of your high interest debt to lower interest cards as you can - eg LX direct/ Virgin onto Egg/ RBS. You may not reduce your minimum monthly payments, but you'll pay off your debt a whole lot quicker.

Find out when your Egg birthday is and if you're still eligible for their 0% birthday deal. Then transfer as much as you can off your egg card to another card, and then back onto your egg card so you get an interest free period (can't remember how long it is, but should be worth having.).

When you finish paying off a credit card, cancel it. This should help your credit rating a little - they can look at the amount of credit available to you already, even if you're not using it. You may be able to get some cheaper credit more quickly.

HTH - and good luck!

unfortunately I am unable to shift any of my debts, e.g lx direct to egg or rbs as the limits on egg and rbs are fully used up.

My egg birthday is now jan, however there is not much I can do about it as I have no where to shift the £900 balance, to enable me to shift it back and get the birthday offer.

Thanks anyway

sanfrancisco

Can you sell your car?

Can you sell anything else?

Where has all the debt gone, eg gadgets?

Could you get a second job?

Could you retrain?

Overtime?

webbo1981

sanfrancisco wrote:

Can you sell your car?

Can you sell anything else?

Where has all the debt gone, eg gadgets?

Could you get a second job?

Could you retrain?

Overtime?

I could sell the car, I am trying to put money aside to get it sorted so that it will be running and I can get more money for it

Got things like dvds to sell, however am sure they wont fetch much

could get a second job. However I have my full time job and a degree which im doing which both are adding to my depression. Im currently in the first week of a two week sick note from the doctor

Retrain? May I ask what you mean?

Overtime, none available

whatatwit

Hi Webbo, as you are off sick, getting a second job will have to wait.

As I see this,
1) Cancel the gym, not only will it save you money, but as each week passes without you going, you won't get that guilty feeling.

2) Whilst you are off work, sort out a proper 12 monthly budget for your expenses, the one you have posted does not allow anything for your car expenditure or things like lunches at work, travel, clothes. Have a look at the thread by Southern Scouser it is a stickie at the top, that will give you all the categories. This will give a fuller picture as to how much it actually costs you each month.

3) Keep on posting on here.

webbo1981

whatatwit wrote:

Hi Webbo, as you are off sick, getting a second job will have to wait.

As I see this,
1) Cancel the gym, not only will it save you money, but as each week passes without you going, you won't get that guilty feeling.

2) Whilst you are off work, sort out a proper 12 monthly budget for your expenses, the one you have posted does not allow anything for your car expenditure or things like lunches at work, travel, clothes. Have a look at the thread by Southern Scouser it is a stickie at the top, that will give you all the categories. This will give a fuller picture as to how much it actually costs you each month.

3) Keep on posting on here.

Sorry where is the southern scouser thread?

Regards