Help!!! I want to be debt free!!

Chez2k

Hi everyone,

I have been floating around the forum and reading up on bits for a while, but thought it was about time to get on and post.
I'm hoping that I can get a bit of advice and support.

I suppose I should start by explaining my situation and how I got into the mess that i'm in.

I graduated as a midwife in September 2003 after 3 years at university. During my time at university I had to struggle through and finance myself with a little bit of part-time work and also with the use of credit cards and my student loan.

At the moment I work full time (not as a midwife as there are no jobs because of the NHS cutting jobs), and have managed to pay off a couple of bits of my debts. I have still got quite a consirable amount of debt though which is really getting me down.

Due to my credit score/credit file I am unable to do much to improve my situation. I am not abe to transfer balances to any new cards to take advantage of 0% offers, I tried 6 months ago to get a graduate loan from Barclays to try and consolidate but they declined me.

At the moment I am speaking with natwest to open a new graduate account without an overdraft. I am going to then every month start to clear the overdraft that I have on my current graduate account with Barclays. I am hoping that Natwest will let me open the graduate account without the overdraft (which they have told me is a possibility) and then after 6 or so of being with them with good banking that I will be able to get a graduate loan from them to try and clear all the other debt.
I have been advised by somebody who did this themselves and this improved their situation a massively.

Can anyone give me any tips/advice/support?

Do you think I am doing the right thing?

Below I have listed my current debts and then my past credit scores from experian (Both of which I am embarrased about).


Current debt:eek:
Debenhams cc £1867
Barclaycard £1577
HFC Flexi Loan/Mastercard £1608
Ikea £7.00 (soon to be cleared)
Egg card £507
Mint Visa £1762
Virgin £3774
HFC HP (Dixons) £162
Student Loan - Will need to check amount of this so will add soon
Barclays Graduate O/D £1850 (when full - currently £1789)

Most recent credit scores (experian):eek:

26/1/07 368
19/3/07 858
31/3/07 798
18/4/07 798
12/5/07 732
5/6/07 649

Thanks. Look forward to hearing to from you.

Cheryl

Tashja

Hi hun

I cannot believe you cannopt get a job as a midwofe !!! There are articles in the paper all the time bout the shortage of midwifes and the danger this is putting babies and pregnant women in !!!

I am guessing that you will also be asked to post an SOA so everyone can see all your incomings and outgoings so that we can see if there are any areas you can cut back on. Also the APR's and minimum payments on your debts would be a great help.

Good luck

T xx

Snaggles

Hiya, welcome to DFW!

Can I ask what apr the graduate loan would be? Can you make overpayments or is it fixed? And do you know the aprs of your existing debts?

Have a look at the sticky thread for first time posters, and if you fancy putting your soa together, we can have a look and see if we can make any suggestions.

Edit - cross posted with Tashja......(re the soa - we must be sooo predictable lol)!

Chez2k

I know it is mad. They do keep posting articles and bringing it up in the news. There is a shortage, but it is also down to the NHS cutting back because the trusts are so badly in debt!!

I have just managed to get myself a job, but won't be starting until mid july - august. (can't wait as well to be honest!!).

I will try and find the SOA forum and I will post the same message on there.
What I will do is post all of my aprs, min payments and the incomings and outgoings when I get home. Will need to pull out all the info ready.

Thank you

Chez2k

Thanks both

I will post all the aprs, etc later this evening. Will need to get all the details together.

Thanks very much x

Tashja

Hi again

An SOA isn't a seperate thread it is a list of allyour incomings and outgoings

The thread is here http://forums.moneysavingexpert.com/showthread.html?t=107280

Glad to hear you have a job now - could you not become a priivate midwife ??? Seems they are in short supply too !!!

T xx

Snaggles

Oh sorry, I might have made that a bit unclear - this is the right forum for posting your SOA - I just meant there was a thread telling you how to do it (if you don't already know).

Good luck with putting it all together, it takes a bit of work, but once it's done, it's so much easier to see where all your money goes.

I'm a big fan of midwives at the moment having just had a very lovely birth experience with a fab midwife, so I'll help in any way I can!

Snaggles

Really sorry to go off topic a bit but how are you doing Tashja, and how's that bump of yours?

Chez2k

Ok, nice one. thank you. I wil have look and sort that out. Then will come back and post it on here.

Thank you very much ladies. Very much appreciated.

How long ago did you have your baby snagggles?
Congrats on the pregnancy tashja. Now you know who to ask if you have any question about it all

On my way home now, but will post later.

Thank you x

Snaggles

She's a month old chez.

Sorry, I'll stop taking your thread off topic now!

Tashja

Bump is fine - need to update my signature though - I am 23 weeks now !!

Time is really flying by.

I keep buying pink things too so the sonographer better be right with her prediction of a girl !!! lol

Sorry Cheryl

T xx