I need help

Tortured_Soul

Stupidly, over the years, I have allowed Barclaycard to keep upping my credit limit and then keep spending up to that amount. I now find myself struggling to keep up to the payments and I don't know what to do! I am also overdrawn beyond my overdraft limit and charges are taking their effect. This is obviously having an effect on my life, most noticeably my health and sleep.

Please! I need advice on what to do next.

I apologise if this is on the wrong forum, but I am at my wits end.

Ebe_Scrooge

Your best bet is to head on over to the Debt-Free Wannabe board on this site, and post up an SOA ( Statement Of Affairs ). This will allow the good folk there to make suggestions as to how you can reduce your outgoings.


Basically you need to increase your income ( take on an additional job at evenings/weekends, for instance ) and/or reduce your outgoings ( no spending on unnecessary luxuries for a while ). It's short-term pain for long-term gain - the sooner you can pay off the debt, the quicker you can get on with things.


But like I say, posting up an SOA is a very good first step - quite apart from anything else, it forces you to take a good hard look at where your money is going.


Hope this helps.

MEM62

You need to put up an SOA which will allow the good people on here to give you more detailed advice. However, the upshot will be that you will have to stop living beyond your means. There is no 'quick fix'. The process will involve spending less and focusing on clearing the debt.