Debt free in 2016?

R0bynn3

HI all,

Merry Christmas & Happy New Year.

I've been lurking on this forum a lot recently and have now plucked up the courage to post (hopefully on the right area)

I won't bore you with my son story but I basically have about £3,500 worth of debt. Mainly to those lovely (lol) payday loan companies. I'm currently in talk with stepchange charity discussing possible DMP. I've told my creditors this but I'm still getting calls/emails/letters/texts daily asking for repayment, one even rang my work - I was so embarrassed!

I don't earn a great deal £1,300 after tax and that's 30 hours per week, I also have a 2 year old child.

Just wondering if anyone else been stuck in the payday loan cycle?

Any saving tips for a newbie?

Thanks

vlad

Are you receiving all the benefits you are entitled to? e.g tax credits etc

R0bynn3

Yes I have all benefits I can claim ie tax credits not entitled to anything else as I'm working. I pay for child care too

Dobbibill

The first thing you need to do is a SOA. You haven't got to post it on here if you don't want to but seeing all your incomings/outgoings written down is very often one of the biggest of your first steps you will take. If you do want to post it, some of the more experience DFW's will come along with some practical, tailored support to help you cut down overall, if possible.

Your priorities are rent, council tax, food, utility bills, childcare and way, way down the list is creditors.

SC will help you to set up a DMP, it will get easy once it is all set up and you have a structure/routine to work with.

I wish you all the best.