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Starting on the road to Recovery
wizzykid123
Posts: 4 Newbie
Hi, guys, looking for a bit of advice really on where I should start and how I should go about clearing off my Debts. My debts are below:
PaydayUk: £402.18
Very £797.97
Wonga (portfolio recovery) 1318.29
I only earn £800-£850 4 weekly and I need to still pay Board to my mum of £150 a month plus a bit of living costs so what should I do first?. Would I be best targeting the biggest first or all three at the same time?.
Thanks in advance for any advice you guys can give me
PaydayUk: £402.18
Very £797.97
Wonga (portfolio recovery) 1318.29
I only earn £800-£850 4 weekly and I need to still pay Board to my mum of £150 a month plus a bit of living costs so what should I do first?. Would I be best targeting the biggest first or all three at the same time?.
Thanks in advance for any advice you guys can give me
0
Comments
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Make sure all your continuous payment authorities are cancelled, or start a new bank account for your income and essential direct debits.
Probably best to use someone like StepChange to run through your budget, set up a payment plan and pay them off at an affordable rate.0 -
Cheers bud, didn't know weather stepchange would be ideal for me as I have got huge loans to pay off but will definately look into them now. Thanks once again 0
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Hi whizzy :wave: Yes try and speak to someone, Stepchange or another debt charity seems best. The main thing is you know you have a problem..and need to deal with it. Wonga and payday are nightmares if they get out of hand. Well done on posting, it takes courage. You will get a lot of help on here if you continue to post
Keep us updated on what you plan to do next.MFiT-T4 Member No. 96 - 2022 is my MF goal
Winter 17/18 Savings Rate Goal: 25% [October 30%] :T
Declutter 60 items before 31.03.18 9/60 ** LSDs Target 10 for March 03/10 **AFDs 10/15 ** Sales/TCB Target 2018 £25/£500 NSDs Target 10 for March 02/10 Trying to be a Frugalista:rotfl::T0 -
wizzykid123 wrote: »Cheers bud, didn't know weather stepchange would be ideal for me as I have got huge loans to pay off but will definately look into them now. Thanks once again
I almost didn't recommend Stepchange as if you had only had these debts and a lot of surplus you could clear them without the help of a debt management company.
But if this is just part of a bigger debt picture then you definitely need help from them or someone similar
https://forums.moneysavingexpert.com/discussion/42280110 -
Thanks guys once again for the advice, just recently started going to GA meetings to help me sort out my gambling problems and now that I feel i am gaining control of my life I dont want to run away from my debts anymore. Advice so far has been sound from you guys but I still wonder weather I would be best focusing on one at a time or tackling them all together.
Once again Thanks for all the help0
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