Urgent help needed please

ineedcash

Well here goes, I have owed money on credit cards and loans for years and never seem to be able to reduce them. It has now this month got to the point where I have not got enough money to make all the dd payments and I have a letter today from one credit card company saying I have incured a charge for going over my limit. I dont know what to to next, I will have no cash to buy food for my family this month. I need help to get my finances back in order. i have debts of around £30,000 and dont see any way out, any help would be most welcome

Marco_Panettone

There's ALWAYS a way out. It might not be quick, or easy, but you can get there. The best thing to do is to fill in and post your SOA (Statement of Affairs) so you (and we) can see where your money's going at the moment, and help you find the best way to cut expenditure and priorities the repayments.

http://www.makesenseofcards.com/soacalc.html

Pinkpenguin

Hi ineedcash,

I'm reletively new round here but I just wanted to say that you are not alone and I know exactly how you feel.

Its easy to panic when youre feeling like this but you have to take a step back and start thinking logically. I posted a thread earlier this week saying that I couldnt afford to eat this month either and another kind poster very sensibly asked me "what do you exactly need to spend?". When you think about what you NEED to spend, it becomes a little less frightening. In your case its food for your family, do you have a spare £10 to buy some really basic foods to last you?

With your finances is it also possible to contact your bank and ask for them to send you an income/expenditure form to fill out? I have done this with my bank (Natwest) and they are in the process of considering my completed form to see if I can reduce my monthly payments.

Write down a list of the direct debits that are due to come out of your account so you know what payments you might miss. The credit card missed payment fee is a blow to your finances but its not the end of the world, phone them and explain - there may be ways they can set up some sort of payment plan.

Finally, take a breath - we are all in the same boat. You have done absolutely the right thing posting on here, no-one can perform any miracles but we can all certainly give you the support that you need.

All the best, PP xx