I want to be debt free sooner!

Dazmk7

Hi, first post here, basically i have a fair bit of debt and im currently working towards paying it off. however i feels like its taking me forever!, i currently owe;

£4400 - Current Account Overdraft, £110 charges a month
£900 - Barclaycard
£1300 - Hire Purchase, this is taking care of itself to be honest.
£2000 - Family member @ £200 a month repayment.

Basically im getting by paying these among my other bills etc. however i don't have much left to even touch my overdraft and the charges are horrific.

Barclaycard has stayed static for a few months now due to other commitments.

My income per month is £1200 after tax

Does anyone have any advice for me on how i could shed my debt faster as i wish to be debt free by next summer if possible.

AlexLK

Have you done a SOA (Statement of Affairs)? In regard of the overdraft, why don't you speak to the bank explaining you are in financial difficulty and need to have (at least some of) the charges stopped?

PRINCESSX87

Most common advice on here is

Have you got extra bits & bobs lying around that you could sell. Ie ebay?

Could you get more hours at work, Second job?

Have you double checked to see if your entitled to any benefits?

Sometimes, Becoming debt free means it takes time and if you can say you have done most things then maybe you need to just wait.

Dazmk7

Statement of Affairs? I cant imagine my bank letting me away with any charges if im honest, might give it a shot tho!, not much things laying about to sell either, havent really bought myself anything this year trying to pay things off etc, as for benefits, very much doubt it, full time work no kids etc.

AlexLK

Well, you need to speak to them (your bank), go in and ask to speak to somebody (not just whoever is at the counter as they don't do a lot). Otherwise, could you swap banks to somewhere that does an interest free over draft?

Dazmk7

Ok, ill see how that pans out. just a bit impatient i guess !

dinky201

are you getting charged £110 each month just to be overdrawn?