Advice needed for a friend

Hobsch

I am already in debt as can been seen from signature but am on the way up thanks to you all.

Basically a colleague has just been telling some other colleagues about her debts and they were giving advice. I wondered if you fantatic people could give some:

Debts:
Lloyds Loan £15353
Virgin CC £7068 Limit £7200
AMEX CC £2980 Limit £3100
Eggn CC £4458 Limit £4500
Overdraft £2000

Basically her own SOA which I have not fully seen so cannot post leaves her with £200 (think £202) but this does not cover the 3 card repayments. Her loan repayment is £322 and mortgage is £455.
She has been late with some payments on the cards but not missed any, loan and mortgage up to date. The mortgage has £58,000 left on it and house is worth £225,000.

Said she has got into debt as ex husband not been paying child support which is an ongoing arguement/battle but should get that back sometime. Some overspending and living beyond means.

Anyway - I can advise on cutbacks for the outgoings when I see them for shopping etc.

Her friends have advise a consolidation loan (:mad: ) and asking the CC companies for reduced payments. What advice can any give? Is using the mortgage in some way an option? Sorry I know nothing about mortgages.
She will read this thread - and sign up later on so you may hear more from her.

Many thanks. Sorry for the shambled post!

CLAPTON

as usual, she needs to post a full SOA and outline of her general situation (OH / kids etc)

Hobsch

She will be doing so. I have said to her she has made the first step and everyone on here is very helpful. Helped me a lot and I am making some headway now.

raq

post soa but don't even think about consolidation.

joeblack066

And don't turm unsecured debt into secured, as she will risk her house. Once she posts an SOA she will be on the road to sorting it out!