In a pickle and not sure where to go.

Newstart0205

Well I've got myself into a pickle financially and I just don't know where to turn.

I starting to struggle since a relationship breakdown earlier this year.

Things are getting on top of me and affecting my health and my relationship with family and friends.

I've attached a list of my finances and hoping someone can advise. Please don't judge me I'm already in a bad place.

Newstart0205

Correct not attached as cant work out how to do it

motivated

Hi Newstart and welcome.

I certainly won’t be judging anyone as I too am in huge debt.

What’s your level of debt Newstart if you don’t mind me asking. Are you working and have any spare cash to throw at debts?

Newstart0205

I dont really know

motivated

Have you checked credit files. Noddle is free and will tell you your credits cards loans etc

Dobbibill

Hi Newstart - welcome to the forum.

Well done on taking your first step and coming here for support.

We are not here to judge but to provide the best suggestions as we see it.

To understand how much debt you have gather all your information - check your credit files too (MSE Credit club for Experian report, Clearscore for Equifax and Noddle for your call credit report)

Then create a SOA - be honest with it. There's sometimes a temptation to create a wishlist of how you would like your finances to look.

Newstart0205

Right ive been on noodle.

Currently feel even worse for doing so.

Credit score 472
Debt £ 26972

anniecave

As Dobbibill says, can you create a SOA? There are templates available, or if you look at other people's threads you will get the idea.


You need to know what interest rates you are paying on your debts and also understand what you are currently spending your money on in order to underderstand your finances better.


The figures for what you are spending your money on may only be estimates, and may change sigificantly if you have a change in circumstances, but your current best estimate is a good start.

sourcrates

I second/third the SOA.

Only after seeing that can we advise correctly on your options.

On this forum, we don’t judge anyone’s reasons for posting, all kinds of people from all walks of life have posted here, there is always a solution to a debt problem..........always.

Vegainer

Hey Newstart,

I know you might be feeling really crap about this right now - but the second you start to do something about it rather than hide from it, you feel better. Everyone here will second that I'm sure!

You've taken the first few steps already, by noticing the problem and seeing the cold, hard number. The next is to be honest with yourself about where it came from, and what your money looks like right now (which is why the SOA is such a good idea - it will show exactly how you can get this sorted).

I know £26K seems a huge amount right now, but soon enough it will be £25K. Then £0. These boards are chock full of people from every town and city in the UK who have been in your situation (and much, much worse) and they've cleared it all. Single parents with the lowest of all incomes, people made homeless by they're debts - and they found a way to sort it all out. You can too, and it's easier than it feels right now - I promise.

What's coming in minus what's going out (and where it's going) gives you what's left to throw at those debts. Then you can focus on how to get a bit extra to sort it quicker. It might sound crazy but it even becomes fun at some point!

The more you do to help yourself, the better you will feel. And the better you feel, the more you'll do to help yourself.

Looking forward to seeing your SOA and getting things straight

Dobbibill

Newstart0205 wrote: »

Right ive been on noodle.

Currently feel even worse for doing so.

Credit score 472
Debt £ 26972

Don't worry too much about your credit score - it isn't that important, merely a guideline on how Noddle perceive you.
Did you manage to look at the other credit files too - not all companies report to all and sometimes report to one but not the other and so on.

Are any of the debts defaulted, marked late, missed payments etc on your credit file?

Have a look around this site - there are plenty of diaries to read with lots of different situations/reasons for getting into debt but as Sourcrates says, there is always a solution.