Struggling with debt :-(

Steve6778

Well here goes

Got into debt by spending more than I could afford.... Obvious I know but didn't realise until too late

Overdraft, credit card and loans.

Used credit card to pay off overdraft then one thing after another went wrong with car so kept using credit card then decided to get loan to pay off overdraft and credit card so only had one payment. Then once again car kept going wrong then I started spending to feel better which worked for a while then realised in more debt and started spiralling out of control. Didn't help car breaking down and borrowing off my dad to buy new car but he ok with pay when I can

Now have,

£6000 loan
£5000 loan
£3000 credit card
£2300 borrowed off dad

Just can't seem to see a light at the end of the tunnel, payments for loans going out ok but struggle to meet card payments just keeps getting me down and sure I'm making myself ill with worry.

I seem to work to survive not live, I'm not asking for pity just advice, I'm married and wife knows about loans but not the credit card I dare not tell her incase it ends us I just don't know what to do

mum2one

Hey you've taken the first step, there is light at the end of the tunnel, it may feel like a long tunnel, but I promise things do get better.
The loan etc and the credit card - how much is the minimum payment and are you meeting the minimum payment ok?

The c/c was that because of the car etc, and it was rob peter to pay paul. What I think is you need to sit down and work out the incomings and outgoings .

i dont what the arrangements is but if you do a statement of affairs - shows your incoming v outgoings then if you do it a a 50/50 or y pay x, i pay y, this can be shown on that - that be an easier way ro work forward.

(theres a sticky on the top for an SOA (statement of affairs)

AlexLK

Steve: Get a SOA up and you'll be surprised what magic some people on here can work, giving you advice for over spends that you never considered as so.

wegle

Here's the link to the SOA. http://www.stoozing.com/calculator/soa.php

You've taken the first step which is admitting the problem, everything from now on is taking steps to resolve the problem. You've made the hardest step.

I think you need to be honest with your wife. Remember you are a partnership, through thick and thin. I know I would be more upset if I found out my husband had hidden something like this from me, especially if I could have helped to resolve the situation.