My spiralling debt

tlc678910

Hi,
I don't know which is the guarantor loan but I'll assume it is the higher one ( secured ) at £369.

You could try to find a debt solution using the help of a debt charity but to protect your guarantor loan you could choose to pay your parents a higher rent and a third of all their bills. If you also look into what allowances are reasonably allowed for food, holiday, entertainment etc and up these figures in your statement of affairs you may find that by taking all these into account your mum could take on the loan as guarantor but you could provide the extra money for her to do so - or at least the vast bulk of it.

I have to be honest that I don't know what a debt solution would mean for your car on finance or expensive mobile contract - perhaps others could advise.

When people have suggested action in the car expenses they don't necessarily mean you need to earn more. If you can get a job where you can walk or cycle to work and get rid of the car you could be better off earning £1200 than you are now where you earn £1600 but have £622 of car expenses.

Good luck
Tlc