Need help with my debts

Mark80

I used the link from you to calculate soa.

http://www.stoozing.com/calculator/soa.php

Is there any other link?

sourcrates

Mark80 wrote: »

I used the link from you to calculate soa.

http://www.stoozing.com/calculator/soa.php

Is there any other link?

That’s the correct link, when you have finished

Where it says :

“Format results for discussion boards (optional)“

Stoozing. Motley fool. MSE

Click MSE.

System

You need to add the APR of the loans and credit cards. It makes a bit of a difference to the advice given.

enthusiasticsaver

I think you need to ring stepchange and see what they suggest.

Does going bankrupt affect your job? There is a fee so you will need to keep some money back to pay this

How did the debts arise in the first place? Is it general overspending (your groceries and rent is very high as a proportion of your income) or do you have a gambling or other issue which you need help with?

You need to post the interest rates but I would think that you have defaulted on most of these and if they are payday loans the interest rate will be very high.

Mark80

All loans are defaulted, so I am not sure if interest is important.

I started with gambling, than continued with payday loans. Payday loans rolling and rolling and now in this situation.

Why do you say grocery and rent are high? Is £12 per day too much? And housekeeping or lunch included. And the rent is normal for London. I can't move outside and pay for travel.

Silver_Queen

Your grocery spend is huge. £350 for one person is enormous. I feed two of us in London for £130 per month and we eat very well. Do you eat out every day?

Your mobile phone bill is massive as well. £70 for one mobile phone is crazy. I pay £35/month for mine and I think that's bad enough, there are others on here who would suggest getting a £10/month contract.

You can't afford a TV package. I would suggest that you go freeview.

Assuming you switch to a £35/month mobile, get rid of the TV package and feed yourself for £150 a month (already generous) that's already a saving of about £300 a month.

Pixie5740

I agree that your grocery bill for one person is huge, London or not. You can also get much better deals on mobile phones and if you are serious about clearing your debts you will get rid of any TV packages that you have as well.

Have you looked into getting some/all of your pay day loans refunded if the loans were unaffordable to you at the time of borrowing?

https://debtcamel.co.uk/payday-loan-refunds/