Please Help! I Just Dont Know What To Do!

Freeland

Hi, i am new to the forum and was hoping that someone might be able to help me with my debt problems.

First of all it's taken me a while to face up to the fact of my debt but the older i get the worse an affect it is going to have on my later life.

When i was at Uni i applied for Credit cards and another Student overdraft, to help me stay at Uni with the costs of fees etc. I ran up rougly about £3,000 worth on various cards etc. I am paying one of with a Debt Recovery Agency at the moment (thats not included in the £3000).

I no longer recieve anything from any of the companies requesting the money back as i did the stupid thing and buried my head in the sand and what with me moving each year due to other commitments i think they just gave up looking for me.

However, my credit is terrible. This has not really affected me at the moment because i have got a bank account, but when i want to apply for loans etc in later life ill have no chance! And i realise that it does affect what jobs you can apply for.

I am now working and feel that i could start to pay off any debt, but when i got my Credit score from Experian and Equifax a couple of years ago i found it very confusing as there was only one credit card showing up and a lot of info on other people on there.

To add to the debt with the banks i believe that now there may be other things on my credit history such as bills (the problems of living in shared houses!).

Is there a way for me to find out exactly what is affecting my Credit and a way of consolidating the debt and getting rid of it as soon as possible?

I really want to get my credit score back up so i can begin to plan for my future and stop running away from this debt that is around my neck!

Hope someone can help!

Thank you

Bestthingsinlifearefree

Hi !

Welcome to MSE.

Why not post an SOA?

click on this link

http://forums.moneysavingexpert.com/showthread.html?t=107280

There are lots of ways to build a good credit track record.

I guess first you need to find out what you owe and to who and then work out a realistic repayment plan.

Borrowing more money i.e consolidation is definitely not the way forward.

Good Luck !

Freeland

Hi, thanx for replying! whats SOA?

art_student

A SOA is a statement of affairs detailing your income, outgoing and debt. Click on the link in Bestthingsinlifearefree's post which will explain it further.
Welcome to DFW!

Bestthingsinlifearefree

Freeland wrote: »

Hi, thanx for replying! whats SOA?

click on the link in my first post and read that thread, it is a great starting point and all will be revealed.;) including the mysteries of doing a SOA:D

Freeland

Thanx for the advice folks! Gonna have a look into it now! I saw an advert for https://www.debtfreedirect.tv today, does anyone know if companies like this are good for help?

rsykes2000

No they aren't. Use CCCS or Payplan. Both non-charging. See links as above or stickies at top of forum.

Freeland

Thank you for the advice! I am going to make a start on getting this sorted!