I feel like such an idiot

MarieGxx

Hi everyone i'm hoping this is the right place.

I have a barclaycard, and my credit limit is £1000 which i have already reached. I'm doing my best to pay off what i can, and have a direct debit set up for £15 each month.

It feels like it will never end, i have severe depression and it just makes me feel like i'll but stuck with this till the day that i die. I honestly wish i hadn't been so stupid in the first place :mad:

I don't know what else i can do,because it could take me up to 6 years or more to pay my debt off and that seems like a lifetime.

fermi

£1000 isn't huge is relative terms, but it is if you can't pay it.

Maybe you could get some help and inspiration by posting/reading the Debt-Free Wannabe board.

Perhaps you can find ways to increase that £15 and get this paid off in a realistic timespan?

Also see: http://www.moneysavingexpert.com/loans/debt-help-plan

You don't need to be in "debt crisis" for the info in that link to be useful.

HeadAboveWater

Hi Marie

First of all, no you're not an idiot!! £1000 may seem like a lot but it is manageable.

I'd recommend posting a Statement of Affairs from here. We can have a look at this and maybe see how you can cut back your spending in other areas which will in turn allow you to put more towards paying off your card.

What you could also do is a spending diary. This will let you see exactly where your money is going. I find that seeing things in black and white makes all the difference!!

Good luck and keep your chin up! I'm going to subscribe and hopefully be able to help and encourage you along the way

HAW

forgotmyname

Isnt the minimum amount and interest more than £15 a month?

Or £15 a month over the minimum amount?

I thought on £1000 it would be close to £20 minimum payment and interest?

Fae

You are not an idiot, its so easy to get into debt, and not so easy to get out of it. As others have already suggested, take a look at the Debt free wannabe board, there is lots of support and help on there.

Fae

gglaze

Hi Marie,
Just so we can have a better idea of what you're dealing with - can you tell us the current interest rate you are paying on that debt? Or how much interest they are charging each month?

There are plenty of helpful people around on these forums, so keep your spirits up!

happycamel_2

Do you have anything you can sell to make a dent in it. Even old clothes sell for a few quid on eBay, old CDs/DVDs etc. if you could sell a few things and make a dent in it you'd probably feel better. Have a look at the 1% at a time thread on the DFW board.

Every £10 you save or earn which you can overpay on your minimum balance will reduce the interest charged and mean you pay back less overall.