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debt help!
xfactor1974
Posts: 3 Newbie
we are £101.000 in debt including our mortage but the biggest is a secured loan that we took out to pay of debts..daft move as the interest is ridiculous..help...
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Comments
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Hi and welcome!
I am a newbie on this board myself and trying to make sense of it all but the first thing anyone here will suggest is to fill out a SOA with all your income and outgoings, then share it on here where those who have more knowledge than me will be able to advise you further on areas where you could cut back, get advice etc.
http://www.makesenseofcards.com/soacalc.html0 -
Full SOA please, including income and any CTCs CB etc
Then list out all the debts, amounts, and APR's. Loan and mortgage as separate figures. Then any other smaller debts, CC's etc. Most importantly detail what you are currently paying to each one.
Hopefully lots of replies will appear as to whether a DMP would help or an IVA etc lots of options.
congratulations on your LBM (lightbulb moment)Mummy to two girls, 4 & 1, been at home for four years, struggling to contend with the terrifying thought of returning to work.0 -
The first step is the hardest. Well done on coming this far.Trying to shift that debt!0
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progress report..thanks to missold ppi..live is about to get just a tiny bit easier0
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welcome and good luck on your df journey
x Debt free once - Back again | Current debt: £2479.50 - January 2025 | Make £2025 in 2025 #11 - £41/£20250 -
well not quite debt free but at least the smaller debts can be paid off and life will just be a bit easier financially:j:):):):):):):)0
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