Need help debt's getting out of control!!!!!

Lee_Singleton

I have £3000 on a credit card and am not able to switch to a 0% balance transfer my credit rating is too low and getting worse.
I am currently paying about £50 a month on interest & not reducing the balance.
To make matters worse i am now falling into arrears on my mortgage and my ex will not let me sell up as my 2 kids live with her.
I am currently organising a lower interest on the mortgage but this will not shift the arrears....what can i do ???
To top it all off i have a £7000 loan witch i pay £150 a month & car finance of £8500 at £200 a month
Where can i get help????

Fran

Hi,

I'm going to move this thread to the "Debt-Free Wannabe" board, where you can get advice and support.

Firstly though, have you read all Martin's articles & info about debt? If you want help he gives contact info for Citizens Advice Bureau, Consumer Credit Counselling Service (CCCS) etc. if you scroll to bottom of the above link.

Regarding your mortgage arrears, does your ex not pay towards this as she is living there - presumably you are paying on two places? Do you give her maintenance as well? Do you have contact with your children?

I would suggest a CABvisit, as they can help with your overall situation and negotiate re debts if necessary and advise re relationship breakdown options, children and mortgage. It sounds like you need an experienced advisor to look at this.

Debt_Free_Chick

Lee

There is no easy answer, I'm afraid. You will have to lower your spending or increase your income or both.

You need a robust budget first - one that deals with your priority expenses such as rent, mortgage on your ex's home, council tax & bills. If you can do a budget and post it here, we can suggest how you might lower your expenses.

Start with this Self Help Pack - it also includes details of how to negotiate with your creditors, if you can't manage the minimum repayments - but let's have a look at your budget first.

http://www.nationaldebtline.co.uk/england_factsheets/debt_advice_england_wales.php3#3