New And Need Advice

bosco_tommy

Hi people! We hope you can help!

Right... we are currently in a bit of 'strife'! Basically we have lots of debt in lots of places - are breaking even for the moment - but looking for one debt to cover everything and reduce the monthly payments (will end the bread and water days)!!! :j

We have contacted our mortgage company - cant help

Contacted lenders we are currently with - cant help

We have also gone to an IFA he has approached lenders but due to the amount of credit/debt we have - noone will touch us!


Breakdown:

Creditor - Amount owing

Abbey Credit Card 3215
Capital One Credit Card 1093.82
LPF Credit Card 5241.27
Aqua Credit Card 394.79
Next Catalogue 958.89
LX Direct Catalogue 1080.96
HFC 921.8
RFS 4907.55
Northern Rock Loan 12018.19
MBNA 3951.72
Nemo 10655.25
If Credit Card 7200
MBNA Credit Card 4163.64
Car 18000

Our total household income is £3000 per month.


If anyone can offer us advice it would be gratefully received.

Thanks guys

B & T

twinklie

The usual procedure is to give a statement of affairs detailing a breakdown of your total income, and then a breakdown of your total outgoings (inc, food, mortgage, phone, internet, etc). See first time poster for more info.

From there someone will identify if you can make any changes to save more money. As for what you have already posted, they will help there too. There are some very clever people on this site!!

Sorry I can't be of more help.

twinklie

OOh, also try and include the APR's of the cc, loans etc. That helps people with the advice giving....

bosco_tommy

Thanks - I will get the paperwork out and go through - food (bread and water) is the easy part!

Thanks again!

B & T x

BWZN93

Just wanted to say welcome!

Jo x

southernscouser

Hi B&T and welcome to the site.

Now I don't want to put you on a downer but in total your debts are nearly £74,000. Realistically you aren't going to get one lender to consolidate all that other than a secured loan which, to be honest, work out very very expensive in the long run.

The main downside with consolidation anyway is that people don't treat the cause of why they got into debt in the first place. I'm testimony to that as I consolidated 5 or 6 times! :doh:

You say you are breaking even at the moment which is good. But if you're serious about getting rid of this debt as quick as possible, you need to reduce outgoings more and/or increase incomings.

Personally I would give the CCCS a ring just for some free impartial advice. They are a registered charity and have put your interests first.

You have different options available to you but you are best talking to the professionals about which is most suitable for you.

As others have said, if you provide a SOA then we can help you reducde your outgoings, but none of us are qualified really to tell you what direction to take debt wise. However, when you have decided (the CCCS will only advise you, ultimately you make the decision) what route to take we are here for help and support.

Good luck :beer: