What are my chances?

stacey2193

I have to agree with other posters, consolidation loans and balance transfers are not the way to go, the only purpose it serves is to make the situation worse. I am speaking from experience having spent 14 years living in debt before I had my LBM last year.

Keep all your receipts and document every penny spent. I just use a notebook.

Check your bank balance daily, use cash wherever possible.

I have spent the weekend clearing out every single cupboard and listing stuff on ebay. 28 items listed so far and lots more to do. You have to look at ways to increase your income and decrease your expenditure.

Please do an SOA, its scary stuff but it works. You wil be surprised at where you can save money and increase income.

Best wished

S x

Shovel_Lad

Please ignore post by Peterpan1 and report as spam, thank you.

Thrifty_Pixie

so am i right in thinking that you have around £9500/£10k in debt/credit available (£6850+£2000+£800)? if this is the case, and depending on what you earn, you might not be accepted for a 0% balance transfer or consolidation loan anyway at this point. how do they know you will actually consolidate all your other credit and not just spend it? could your income support the £20k of credit that you would then have at your fingertips?

in my opinion consolidation is for fools anyway, but don't just trust me - do an MSE survey of all those it's bitten and you'll get a rounder picture

i think you NEED to fill out an SOA and keep a spending diary. you say you're cutting back as much as you can, but i bet you'll be shocked when you see it all in writing. it is what is taught on the first day of Debt-Busting 101

Thrifty_Pixie

inbetweener wrote: »

Reading through the forum maybe my only relief may come from a balance transfer.
Question is can you still spend on the new card?

this is EXACTLY the attitude you don't need if you're thinking of consolidation.:o

NinjaSavingKat

Trust me - post an SOA. There might me more that we can help with that you think is reasonable. Otherwise, gear up, get it together and sell everything that isn't nailed down on eBay. You need to be bringing in more - simple as that. Sell baby clothes ( heartbreaking I know ) but they will sell better than most things.. you are building a future for them and they need happy parents to thrive!!!

You will dig your way out, mark my words you are in the right place. Just trust the other posting here and post an SOA as soon as you can!

Good Luck with everything!!