up to my neck in debt

emlou1978_2

Hi im struggling in a cycle of charges and repayments at the moment. ive been asked to submit a statement of affairs so here it is... as accurate as i can get it. any advice on how to deal with this would be appreciated. Im currently £216 over my overdraft of 1500 and have a credit card that is maxed out at 4500. i have another week to go till pay day and im extremely stressed about money

Wages = £1365
Rent = £400
Car Payment = £257
Barclaycard = £130
Car insurance £44
Overdraft Charges (changes monthly) £130
Mobile Phone = £45
Petrol Expenses coming in = £200 on average
Petrol Cost £150
Other debt £100
shopping/going out/other expenses £200

hope this is ok

Emma

heartbreak_star

Can you do a proper SOA (sticky on the front page) so we can have a look at your income/outgoings?

HBS x

emlou1978_2

i honestly dont know how to get to that
sorry for being a bit slow lol

Happytogetdebtfree

Its on the first page of this board if you fill it out we can offer better advice

Happytogetdebtfree

http://www.stoozing.com/msoc/soacalc.php

brokemedic

Hello,

Post your SOA asap... the link has already been posted..

Can you increase your hours at work? Any overtime available??

E-bay/Amazon to sell some stuff you don't use.. Only use the money to pay off debts/credit card bills..

Try and reduce ur food bill as well.. if you haven't already done so..

Good luck.

midnight_express

Your car seems to be a major problem.

Atidi

Completing and posting the SoA seems to be the major problem for this brand new user ... :cool:

I would suggest the OP makes an appointment with their local CAB office who should be able to help further.

mistersmurf

IF you can tighten your belt for 1 month, not go into an unauthorised overdraft (currently costing you around £130/month in charges) then you'll be £130/month better off.

The only options that it looks like you have are to cut down your shopping bill (is that £200/month just for you?), switch your mobile to PAYG (or drop your tariff to the lowest available.) and consider downgrading your car (what car do you have? what's its value? how long left to pay? what interest rate did you borrow at to buy the car?

Really it's crucial that you chop £130 off your outgoings by staying within your overdraft for 1 month. If you can do that, you've just got yourself a £1560/year pay rise without even speaking to your boss.