Help I want to be debt free.

glemmon

Help I need some advise

I have just split up with my partner and am living with a friend and i have around 18K worth of debt in my name. Now I can just about afford to pay the minimum of these debts.

HSBC Loan £145 per month 4 years left
MBNA Loan £135 per month 18 months left
VIrgin Card £55 per month 2K OUTSTANDING
Barclaycard £80 per month £1750 outstanding
American Express £260 per month 10K outstanding.

I pay my friend £300 per month rent and I take home around £900 per month. i have tried to swop the debt around but no one with touch me with a barge pole. My credit rating is fine but my ex partners has a few defaults and this does not help me very much as we are financially
link becuase of the mortage. Now when we sell the house I will have around 10K to pay off some of the debts but until we do I am stuck with all this debt and I can't seem to swop it around to a cheaper rate. Can someone please advise me as I can not see no way around it.

Thanks gareth

Shineyhappy

Have you done a credit check on yourself? I think that the best thing you can do is obtain a free copy (I think you can get cash back through Quidco) and try and push the sale of the house through as quickly as possible.

Make sure you are down for council tax and registered to vote in the correct place as that affects your credit score too. You will probably find in a bout 6 months your credit rating will improve with the house sold and some of your debts paid off.

never_too_late_2

hi gareth,

what are the various APRs on your cc's/loans? and maybe just so the cleverer people on here can help, complete a statement of affairs (see the sticky for guidance on 1st page) and we'll be able to help more.

cheers,
ntl
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glemmon

Yeah they are as follows

HSBC Loan £145 per month 4 years left 15.4 APR
MNBA Loan £145 per month 4 years left 12.9 APR
VIrgin Card £55 per month 2K OUTSTANDING 22.9APR
Barclaycard £80 per month £1750 outstanding 30.9 APR
American Express £260 per month 10K outstanding. 13.9APR

I hope this helps/

Thanks

Shineyhappy

Have you tried ringing the companies and asking if they would reduce your interest rate? I know some people on here that have been successful at this but some arent but it might be worth a try untill you can get much better deals

midebt

hi there

a staement of affairs............means things like..all your bills and all your spendings what do u spend ur money on ...right down to the packet of gum !!!!

food
petrol
shoes
hair gel
toothpaste
on and on xxxxxxxxxxxx