Been a bit silly! Any help please?

anniek42

Hello

Am new to these forums and am feeling a bit down as I have let things get on top of me and let my finances get out of control.

I am a single mother and have run up 4 credit cards as well as still got a student loan of £9k from doing degree that finished in 2010.

I think my spending is down to just thinking credit cards were there to just use and I have been frivolous and now they have got out of hand. I also think I have been trying to overcompensate for my child and trying to give him what he wants! No excuse I know, but I am at least beginning to see why this has happened.

Worse still, I had an excellent credit history, but have now missed some payments and had default fees several times resulting in me now being turned down for credit when trying to get a 0% card! So that was stupid again!

After sitting down all morning this is how things stand...

Virgin card - £10297
Tesco £331
Mint £4825
Barclaycard £3401

Interest rates vary between 18 - 22%

I am in arrears with council tax of £224
N I arrears of £130

I am self employed and recently started a small rental of room at £312 a month and this has been slow to get of the ground and rent is due friday!

My incoming monthly is approx .. £1946
My direct debits are approx £951
My min repayment on cards are £435

My petrol, food and other essentials are approx..£320

So looking at all other things like car mot, servicing hair cuts etc it doesnt leave me much.

Any help please....:o

YoYoY

anniek42 wrote: »

Hello

Am new to these forums and am feeling a bit down as I have let things get on top of me and let my finances get out of control.

I am a single mother and have run up 4 credit cards as well as still got a student loan of £9k from doing degree that finished in 2010.

I think my spending is down to just thinking credit cards were there to just use and I have been frivolous and now they have got out of hand. I also think I have been trying to overcompensate for my child and trying to give him what he wants! No excuse I know, but I am at least beginning to see why this has happened.

Worse still, I had an excellent credit history, but have now missed some payments and had default fees several times resulting in me now being turned down for credit when trying to get a 0% card! So that was stupid again!

After sitting down all morning this is how things stand...

Virgin card - £10297
Tesco £331
Mint £4825
Barclaycard £3401

Interest rates vary between 18 - 22%

I am in arrears with council tax of £224
N I arrears of £130

I am self employed and recently started a small rental of room at £312 a month and this has been slow to get of the ground and rent is due friday!

My incoming monthly is approx .. £1946
My direct debits are approx £951
My min repayment on cards are £435

My petrol, food and other essentials are approx..£320

So looking at all other things like car mot, servicing hair cuts etc it doesnt leave me much.

Any help please....:o

Please complete a more detailed SoA,
http://www.makesenseofcards.com/soacalc.html
and post the details below.

With this greater detail, appropriate advice can be better given

HeadAboveWater

Hi and welcome to the board!

As YoYoY states above, post your SOA and it'll give us a better idea of where your money is going, and make suggestions as to how to reduce your spending.