URGENT Help Needed-26yo disabled guy with £16.000 Debt,Monthly;£860in out:£760

disabledindebt

hello Everyone im new here, where i should have been 5 years ago...Im 26 years old, ive got nerve disorder use wheelchair full time, like other unfourtunate people like me, i've got myself into £16.000 Debt without realising it!:eek: very very Scared and very afraid what it might happen...and whats already happening..

ive got £860 monthly into barclays account and £760 out..all thanks to a £10.000 barclays secured loan in 2001 (now is £6.800) with a £260 Monthly repayment...Capital one debt of £2.750 with £92 monthly repayment (i have applied for a credit card balance tranfer with HALIFAX one card with 0%interest for 12 months they could only take 90% of the capital one debt.this was TWO WEEKS AGO (april 14th 2007) but i keep checking and it hasnt been tranfered yet so im being charged still).BUT my Biggest Headache is my barclaycard debt... £7.400!!!:eek::mad: monthly repayment is £185...ive tried to transfer for a 0% credit card with virgin money for 13 months i GOT REJECTED lady said she would like the debt to be decreased... i wasnt surprised ...but i still need URGENTLY a 0% balance transfer for minimun of 6 months credit card ABLE to Take on the Barclaycard DEbt of £7.OOO please please if anyone could help me find out!!!... my only other expenses is british gas £45 ... EDF energy £25 Monthly BUT( IVE changed the gas and energy suppliers TOGETHER for POWERGEN just 3 weeks ago (still hasnt been full changed apparently n dont know how much will cost it said approximatly 65£ together..i find it unrealistic but it should be cheaper coz im single i live alone...then theres the 80£ BT...and the water £15...broadband from aol-£12..im sure im being riped off somewhere...(arebnt we all) But reality is I NEED HELPPP!!! specially finding a credit card with 0% interest transfer that can take £7.000 debt:eek: i cant ask enough i need every kind of help! im sure someone can give information or advise, even if seems little, trust me it will Help!:o

tesuhoha

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1107182516,76509,

Have a look at this for advice on credit cards.

Fran

Hi d-i-d,

Presumably you are getting any benefits you might be entitled to..... have a look at the Benefits Board if you are not sure. Possibly DLA/Incapacity Benefit or Income Support/Housing Benefit/Working Tax Credits/Council Tax Benefit?

itsarichmansworld

Can you do a full soa see southern scousers sticky on top on the forum and we can also see if there is anything else we can hammer down for you.

hypno06

Ok, so don't panic, I am sure things will get sorted.

Grab a coffee and a pad of paper and a pen and have a brainstorming session. List absolutely everything you spend money on - right down to the last packet of polos etc.

Then, with all the figures in front of you, you will be able to do a full statement of affairs as above, plus you can see yourself if there is anything you are spending on unnecessarily. Sometimes it can be a real eye opener once you start writing it down.

Keep a spending diary for the next few weeks. As well as sorting out the existing credit, you need to make sure those spending habits do not continue otherwise you really will get yourself in a pickle.

Also, how about speaking to CCCS or payplan (numbers at the top of the page) they will be able to give you some other alternatives to consider.

Finally, try putting your figures into the snowball calculator https://www.whatsthecost.com and have a play around and see if that helps in the motivation stakes.

Good luck, and get started on that brainstorming!

Toto

I really think speaking to payplan/CCCS would be a great place to start for you. The payplan people are really nice and super helpful, they can sort you out with a comfortable repayment plan.

Do post your SOA and let us see if we can find any savings.

lynzpower

the numbers for CCCS and payplan are at the top of the page too, so do do give them a call.

IF you post your SOA then theres every chance we can find you some savings to help you eke out your money a bit more, but do take frans advice and take a look at the benefits board, make sure you are getting all you are entitled to

Good luck & welcome x

postingalwaysposting

reading your first post is a little confussing for all of us so i have structured it a little better, hope you dont mind.. your soa is in there its just a little lost

income ~ £860

bills
£45 British gas
£25 EDF energy
* this has been changed though so together will cost approx £65
£80 BT
£12 AOL
£15 Water

debt repayments
£260 barclays secured loan
£92 Capital one ~ being transfered partially to a 0% card
£185 barclaycard debt

Toto

Ok, so I make debt repayments £537 per month
Bills £172
Total £709

Do you pay a mortgage too? I'm assuming as you have a secured loan you own a house. look on the benefits board but also check https://www.entitledto.com to give you an idea of what benefits you should be claiming.

woohoo_postingid

£80 Bt ??? :eek:

disabledindebt

omg! i honestly wasnt expecting so many responses in such a time..THANK U SO MUCH! ;o)....

Im sorry the way i wrote ight not be clear as it should be but it kind represent how i see things ...not very clear when i should have..the small prints...etc

...i guess im sure The debt i got in was because i was using the credit cards to pay for my groceries everything i need to buy i bought with the credit cards assuming it was the cheapest and affordable way to pay monthly...Not exacly also i didnt read clear that i could pay more tahn just the minimun per month!!...i wish id know then what i know now (dont we all?)...

I work as assistant administrator only part time due to my severe disability..i share work time with three different hospitals appointments clinics and everything a person has to do in Life.... im doing on my own, i dont ask help from family,ive never wanted to depend on anyone and i strongly believe still that it wont help me mentally...

Because i work i dont have every benefits id be entitled to nor i would like as im not the kind of person to sit home n wait for the benefits to come in...ive been told i should get least two more ..have help with transport costs at the moment -DLA, No one knows about my debts im so ashamed and embarrassed what they ask (friends family) is what do i do with my money ?... if only they knew!..i actually get people telling me bcoz im disable i must get thousands of pounds in benefits which i find very rude and offensive somewhow,id never would wanted it i dont agree with it if it would be true...it is not.

I have gone down my statments see where i can save... the only saving im doing is on food..i only eat once a day or have snacks, but im fine honestly... i dont spend on clothes nor do i go out at all, i am a non smoker non drinker...(that sounds worst maybe) i use whats left from the monthly savings around £100 but only use £80 to pay barclaycard together with the minimun repayment.... im feeling if i keep like this i will be repaying my debts for the rest of my life..ive noticed i havent been as happy as before or enjoying my young time as im sure everyone else with debts...

im reading this FANTASTIC website and i consider everything u all recommended am doing it all ASAP...

ps; please keep giving any tip or any other help...