New Start...Where to Start?!!

lauras1712

Hi Guys,

I am new to this but have been reading through posts for aggggges and thought i would give it a go myself!! I really want a new start but have no idea where to start.

I got myself into some debt when i was young and naive and i have been trying to pay it off for what seems like forever and not making a dent in it whatsoever. i was stupid and missed payments and ignored it (worst thing to do!!) but i would really like to get back on track. i currently have £8000 worth of credit card and overdraft debt.

Februrary 2011 was when i realized i needed to get this sorted once and for all!!

i wrote to all my main creditors (1 x barclaycard,1 x halifax one card, 2 x halifax overdrafts) i also had a few little debts that i paid off at the time and i currently pay all these a reduced figure per month yet i am still finding it difficult. i dont drink i dont smoke and dont spend money unnecessary i have learnt to be careful. but my wages just seem to go into my bank account and disappear on essentials! rent, household bills, car insurance and car payments and PETROL!!!!

i currently pay £195 per month on my car and want to reduce this but i cant get the credit to get a cheaper car and i cant give this car back as i need it to get to work. any advice on how i can get a cheaper car???

the only luxury i have had in the last year is that i am going on holiday in 2 weeks, as i need to get away and i had the money gifted for this - but under unfortunate circumstances which have also made this year hell!!!

i am being so careful but just don't seem to be getting anywhere!!!!!

does anyone have any advice/suggestions on what i could do??

p.s - i am saving £10 p/w currently ready to pay more stuff off once i get a lump sum yaaaaaay

theoretica

You worry me a bit when you say 'my wages just seem to go into my bank account and disappear on essentials'. The place to start is knowing exactly where your money is going.

Tixy

Hi and welcome

First steps are to start a spending diary and write down every single thing you spend money on in a month (including all bills, spends on the debit card, right down to the odd £1 on a drink or lottery ticket). Then try to put together a statement of affairs showing your income & outgoings for the month. Once you've done that you can see how much you should have left to pay towards your debts.

In terms of the car - is it a HP agreement? or a personal loan? how long have you had the car? and much longer left on the finance?