Drowning in debt - please help!

slowlyfading

If you can get rid of the car, it'd be a great start! keep your chin up x

normdeplume

People here are very helpful, Orton7 and it's a friendly forum. You're in the right place and I hope rays of hope soon appear through the clouds.

ndp

orton7

Our only real get out of jail card is to sell the house, currently worth about £995,000. But I really want to avoid that if possible, as firstly, the sheer cost of moving house what with stamp duty and legal fees etc would come in at a whacking £50,000. As it's such a lot of money to fork out, we want to make sure that when we do move, it's to the absolutely right area as we don't want to have to do it again in a hurry. Various factors are making this a complicated decision; my other half may not be in the same job for much longer, which would affect where we would move to. Secondly, we need to move to somewhere within the catchment area of a good secondary school, as there are no decent state schools where we live at the moment, and given our financial situation, private education out of the question. So I know that if the worst comes to the worst we can sell up and move to the HIghlands, but it's not very realistic at the moment. We still have to live somewhere, and that somewhere will, in all probability, given our respective jobs, be in the south east where house prices, as you know, are sky high.

orton7

Thanks Normdeplume, for your kind words! I feel more optimistic already since posting on this forum. It's really helpful to hear from people who've been in similar situations, and feel that there is some kind of light at the end of the tunnel. Iaml slightly ashamed and embarassed about it all as I feel it is a problem of our own making - especially as our income is so much more than many people. This is just the kind of wake up call that we need.

ltm07

No need to feel embarassed in our company orton7, you have found this forum in the nick of time. Don't know if you have been on the whatsthecost website yet,but do so,as this is the best thing we have done in our quest to bust our debts. By snowballing your debts you will see the light at the end of the tunnel & pay them off much faster than anticipated.Good luck.

orton7

Thanks, I'll have a look at the site you recommended and see if it can help. Am actually beginning to look forward to the challenge of losing our debt now that I can see a way forward!

ltm07

Also is mobile phone at £45 for the 2 of you? I switched from Vodafone to T-Mobile & have knocked £10-£15 a month off my monthly bill,without cutting down on how much i use it.

Burlesque_Babe

Don't be embarrassed or ashamed. We've all been in your situation to some degree or another, which is why we're all here to help.

ltm07

All the best to you & you won't have to cut down as much as you thinki.e. go for picnics instead of going out for meals(mind you we haven't had much chance to do that this summer)! Keep in touch with the good people on here & you will soon be on your way to clearing your debts,good luck.

orton7

ltm07 wrote: »

Also is mobile phone at £45 for the 2 of you? I switched from Vodafone to T-Mobile & have knocked £10-£15 a month off my monthly bill,without cutting down on how much i use it.

no, the mobile bill is just mine - OH gets his paid for by work. Was with T Mobile but a fasle economy as there is no signal anywhere near my house! Will look into better deals though.