Help :-(

zippygeorgeandben

Gym memberships are expensive even when you aren't in debt!

worried_witless

Thanks everyone, hugely appreciated, will reply later once I am home xxxx

Willing2Learn

Why does Sunny x4 loans have a zero balance @ 49.9APR on your soa? If you do have existing debt with Sunny then you should know their rate is 1291% APR representative (I just checked). Though, maybe you negotiated a lower APR?

Smellyonion

On a lot of the SOAs, people forget to tackle the root cause.


Without your debts and even with your somewhat lavish spending, you would have 1.3k left each month. Yet you have managed to accumulate 22k in debt,


Questions;


Why did you require loans if your spare cash each month is high?


Where did this money from the debt go? Which assets (value of materialistic processions) do you have?


If not many assets, what services are you wasting the money on? Where did you spend that 22k?


You need an inventory of all assets of any value you own and their value. I would make informed decisions to downgrade where can and put any spare cash into the high interest loans. Your situation is purely behavioural and you have more than enough income to ensure a comfortable lifestyle.

National_Debtline

Hi OP


I agree with the above poster that the most important thing here is arguably assessing how/why the debts - and in particular the short-term loans and Amigo - came about. Was there some kind of temporary situation or something out of the blue which led to you turning their way? Are you confident now that whatever issue it was is unlikely to reoccur?


If you can answer those questions you'll be much better placed to act on the rest of the advice you get.


Dennis
@natdebtline