Really want to make things right, things are such a mess!!

Jayllie

Hi there

Ok I have been a total idiot over the past few years withregards to my debt, burying my head in the sand hoping it will just go away. Asyou probably all know this is not the case and they have not gone away L

Basically I am 30 years old and when I was in my late teens/ early 20’s I racked up a heap of debt (oh why was it so easy and tempting toget ‘free’ money?) Anyway I joined a debt management company about 8 years agoand was replaying my debts off but I was still constantly getting threateningletters from my creditors and my payments really weren’t making a dent in thedebts at all. So stupidly when I moved house 2 years ago I cut off all contactwith my debt management company and have just basically been on the run since.

Like I say I am 30 years old now, I have two children and Ipay an absolute fortune in rent every month as I have never been able to get amortgage. My husband doesn’t have the best credit score either but has notoutstanding debts (other than to his mum) so he can’t really help me.

Basically I want to know what is the best thing to do now, Iam tired running, I want to pay off my debts but I already struggle monthly topay the bills I currently have (rent, utilities, food, clothes, etc) so I don’tknow what to do.

I don’t actually know who I am now due money to or how muchbut I think it is 3 creditors in the region of about £12000 - £15000. I know Ican find out who I am due money to from my credit report but I am scared tolook at this as my creditors may then find me.

I also have a £550 overdraft with my bank that is overdrawnover the overdraft!! (my husband does not know about this one !) I have beenwith my bank for over 15 years so they are fairly good to me but I think eventhey are starting to get p’d off with me constantly being over drawn and I amgetting charges left right and centre when I do. I am not sure if I will beable to afford my bills this month as I have £150 to clear before I am back inmy agreed overdraft limit!! Its all such a mess and its really getting me down.

Please can anyone give me advice and help? I want to make thingsrights but don’t know how and don’t think I can afford to L

Jayllie

Anyone :-(

kerri_gt

The first thing you need to do is sort out a budget . Use the Statement of Affairs (SOA) on the makesenseofcards.co.uk website and paste it into your thread.Annual items you need to work out the monthly amount, ie divide the annual amount by 12; weekly amounts you need to work out monthly (I do this by multiplying by 52 and then divide by 12 but I think you can do it by just multiplying the weekly amount by 4.13).

Once you've posted up your SOA people will be able to help you with areas where you can save money in order to increase the amounts to can pay to your debts.

I would also suggest that you start keeping a spending diary to see exactly what you are spending where - the chances are those odd £1 / £2 most of us spend here and there without thinking will add up to a more significant amount than you realise. Once you have a proper handle on your SOA and where you are spending, you'll be able to work out the best route to addressing your debt.