Best way to clear my debt?

Ireallywanttobedebtfree

Hello everyone
I've got myself stuck in a muddle. I need some advice on the best way to get me all sorted ASAP. I really need to get myself sorted ASAP.

My debts are: £8000 loan - 17 months left at £427 per month
1 x credit card: £3500.00, interest free until December 2013
Overdraft: £5000.00

I can afford £600 per month, maybe £650 MAX.

Any help would be much appreciated. I have excellent credit report and never miss payments but I want this all tidied up ASAP!

Many thanks to anyone who has any ideas for me.

Thanks,

OneLife_OneShot

Post up a Statement of Affairs

http://www.stoozing.com/msoc/soacalc.php

People can help you out with advising on ways to cut back.

I'd pay off the O/D and the loan first as you have another 6 months 0% on the card.

Ireallywanttobedebtfree

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1950
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1950

Monthly Expense Details
Mortgage................................ 238
Secured/HP loan repayments.............. 0
Rent.................................... 150
Management charge (leasehold property).. 15
Council tax............................. 75
Electricity............................. 19
Gas..................................... 0
Oil..................................... 0
Water rates............................. 7.5
Telephone (land line)................... 0
Mobile phone............................ 8
TV Licence.............................. 6
Satellite/Cable TV...................... 0
Internet Services....................... 5
Groceries etc. ......................... 120
Clothing................................ 0
Petrol/diesel........................... 80
Road tax................................ 20
Car Insurance........................... 25
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 5
Life assurance ......................... 5
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 310
Total monthly expenses.................. 1108.5


Assets
Cash.................................... 0
House value (Gross)..................... 115000
Shares and bonds........................ 0
Car(s).................................. 7000
Other assets............................ 0
Total Assets............................ 122000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 78000....(238)......2.5
Total secured & HP debts...... 78000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................7600......457.......5.9
Virgin CC......................3500......25........0
Overdraft......................5000......0.........16.9
Total unsecured debts..........16100.....482.......-


Monthly Budget Summary
Total monthly income.................... 1,950
Expenses (including HP & secured debts). 1,108.5
Available for debt repayments........... 841.5
Monthly UNsecured debt repayments....... 482
Amount left after debt repayments....... 359.5

Personal Balance Sheet Summary
Total assets (things you own)........... 122,000
Total HP & Secured debt................. -78,000
Total Unsecured debt.................... -16,100
Net Assets.............................. 27,900

Created using the SOA calculator at .
Reproduced on Moneysavingexpert with permission, using other browser.