Trying to Recover from Debt

marnwmn

Apologies but ive just joined the site and am after some advice with regards to improvig my credit rating and prioratising debt.

In 2008 I was made redundant from where id worked most of my life (I was only 26 at the time!!)

I had one loan for 9k at the time. I went uneployed for 6 months and having a mortgage I used my credit cards to pay debts, etc and ended up in trouble. (id had loans / credit cards etc in the past and never missed a payment until this point)

To sum a long storey by middle of 2009 I ended up owing the following:
£8.5k loan to TSB
£6.5k Credit Card to Virgin
£2.7k Credit Card to Cap 1
£2k overdraft to Braclays
£9k car loan
£1.5k Very Account

I couldnt afford to pay my contracted amount at the time so I missed payments and like most people shyed away from the problem when debters rang!!:mad:

Where I am now:
TSB decided to default me to Wescot after no warning (I was paying over the phone montly but out of the blue I got a letter off Wescott demanding the money) I currently owe 4.4k on this and havnt missed a payment since setting it up 2 years ago @ now at £150 month
Virgin credit card put me on an arangemtn to pay at £110 a month I currently owe £3.6k and again havnt missed a payment since it was set up 2 years ago
My capital one credit card is down to 2k and havnt missed a payment for 2 years
My 2k overdraft to Barclays is on a resolver loan at £60 month and I havnt missed a payment since starting this 2 years ago. balance at around £800.
My 9k car loan at £190 month I have never missed a payment on and is currently going down. I owe 3.9k
My 1.5k very account is down to £200 and again I havnt missed a payment.

All my bills, mobile, mortgage, gas / electric / sky I have never missed a payment on since setting up over 5 years ago when I bought my house - I always prioratised to pay this first.

I earn over 2k per month now im back in full time employment and have been for 2 years now and im keen to get my credit score and rating back up.

Any advice how I could do this with the above would be apriciated. I now have around 600 pound after bills and the above and would like to prioratise payments to pay more.

Would prioratising my default make the bigest difference or would paying higer interest items like my credit card first help best?

Any advice you can offer would be apriciated Thank you

slowlyfading

First off, hello and welcome to MSE!

The first thing to do, so that we can help you out, is to post a Statement of Affairs (SOA) found at the top of the Debt Free Wannabe board in a link. Then, we can see how you can make the most of your income and what outgoings can be cut down or out

missrlr

Generally the highest interest wins when paying back debt but use the tool in the sticky at the top to work out the accumulative effect when you know what the interest rates are. SOA would help us too .....