Asking for a friend...

K11m

Hey 👋

So, here goes, my friend is in a situation.

Previously, through bad choices and lifestyle racked up 30+k debt, aged 24.
As a home owner, remortgaged, used equity and cleared some hefty loans, of which were costing 700 a month in repayments.
Fast forward two years it appears they still have £8,200 of debt as follows -
1,500 cc1
3,000 cc2
1600 overdraft acc1
2000 overdraft acc2

There is talk of a third card but they ‘can’t remember’ how many cards they have.

Income - 2000k per month, total minimum repayments on both cc are £100 per month (40/60) Both cards are interest free and account over draft changes are about £5 a day (so I’m told)

Totally outgoing bills are £1,600 a month leaving £400 for cc repayments, food and car and living.

Two things -

1 - I just cannot see how this stacks up?!? Given charges are minimal accounts cost around 120/150 a month so stick to 400 expenses and you are out of at least one OD after a few months surely?!?! They are adiment not an extra penny is spent - I have not seen accounts, this is what I am told. I don’t want to make judgements but outwardly expensive things do seem to still happen.

2 - what advice based on situation would you offer? I’ve tried for roughly 7 months now to help but really getting nowhere other than treading water.

Depression and debt are huge factors. I am very concerned about mental health given the persons history. They have seen a gp and been recommended medication and counselling together BUT they have listened and chosen not to go down either route 😕