Serious problems !!!

curly_2

Hi, can anyone please help ?? I have several credit cards all maxed out to the value of approx £12,000 and a loan with approx £9,000 left to pay. I am struggling to pay the minimum amount on the cards but can cover the loan. I constant run out of money at the end of each month. I have tried to get zero interest cards to transfer the old debts too or a bank loan so that I only have one affordable amount to pay each month but am constantly refused.

crawley_girl

Hiya

How about giving us your SOA - basically all of your incomings and your outgoings. This often helps to see where money is going and to identify any areas of savings to be made.

With reagrds to the 0% cards, the more you apply for and get rejected for, the more this will continue. Especially if you are missing payments or making them late. My advice would be to stop applying for these cards right now...

So let's see a list of your income and outgoings... check out SS's sticky at top of board about SOA

:heartpuls CG :heartpuls

art_student

:wave: Welcome to DFW
I agree, post a full SOA so that you can get the best advice you can.

plumduff-2

If you do not own property, research the bankruptcy option...

See the insolvency Service website and National debtline.. Why skint yourself for X amount of years when you could be debt free in a maximum of 3 years if BR is a good option...?

art_student

I think it is probably worth doing a SOA as a first step though. Then you can enter your debts and APRs in the snowball calculator and see how many years it would take to pay them off. That will probably give you a good idea whether repayment or bankrupcy is best.

curly_2

Hi, thanks for all the advise. I have read some of the other posts and decided to contact the CCCS.co.uk and I am pleased to say that I have sorted out a debt repayment programme with them. It's going to take a while to sort things but hopefully I will be like you guys and be able to say I'm debtfree in a few years !!!