DEBT/DONT KNOW WHAT TO DO 6 April 2020 at 5:55PM in Debt-Free Wannabe 73 replies 9.1K views

ronnies6

Hi I am embarrassed writing this but need advice please. Basically I am useless with money, too generous helping everyone out, giving it away (even though it was cards). I have suffered depression still am, gambled and basically in a mess. I work and  earn around 2,400 a month and am now in a vicous circle. I am left with around 150 a month. Credits cards are near 600 a month and loans 450. I cant remortgage as have utilised all that. I rang the credit cards for help, not very helpful. I Dont want work to know im in debt or anyone, too ashamed. I dont know what to do. Can anyone offer advice. Thankyou an embarrassed self inflicted disgrace. Thankyou

Willing2Learn

Hi,

The simplest way to start is by completing your Statement of Affairs (SOA).  If you click on the 'format for MSE' button near the bottom of the form, then you can copy & paste the whole lot into this thread. 

Edit:  And there is nothing to feel embarrassed about...

ronnies6

Hi just a question as the credit card companies were not helpful...is it better to contact step change to get help or is it best not to pay this months card bills and hope they offer intetest freeze? Sorry so worried and sleepless nights. Thanks

ronnies6

Sorry should read interest freeze

DCFC79

Fill in a statement of affairs as suggested.

BabyStepper

Hi Ronnies6

Welcome to the boards! This is absolutely the right place to be for help and advice, well done for finding a way here.

First thing, you have depression, if your GP doesn't know about it then go and get an appointment asap. Depression is no small thing and you'll need help, and will also need to have that help reviewed regularly.

Second, about your gambling, there are others on here who can better advise but it is possible to block your cards from gambling websites and there are support groups to help you stop gambling. Have you tried any of these? Hopefully someone will come along who can point you in the right direction. 

Finally, the advice you've been given about doing an soa is good - we need to know the details of your situation before we can help. You may be able to trim quite a lot from your budget to increase the amount available for debt repayment, but you will need to have made a budget first, and that starts with knowing what your current spending is. This might take a while but we are still here for when it's done.

Stepchange, and freezing interest on credit cards, might be the right thing for you but we won't know until you post your soa. There are ways out of this, you will get there if you're determined. Don't forget we have all felt embarrassed and ashamed about our money situation but you CAN turn it around and you have a load of people on here to help. You're not on your own. 

Keep posting. 

ronnies6

Hi im going to do the Soa later as im in work. How do you paste it so it can be seen? I  was thinking of getting a secured loan if I can but dont think theres much if any equity. Rather than my credit file look bad with a DMP. Really in a mess all self inflicted. Anyone know a decent secure loan firm? Thanks

ronnies6

Just dont want work to be contacted or know my business

fatbelly

Definitely do NOT take out a secured loan.

We don't know what the answer will be until you post that soa. But itt won't be a secured loan!

DCFC79

ronnies6 said:

Hi im going to do the Soa later as im in work. How do you paste it so it can be seen? I  was thinking of getting a secured loan if I can but dont think theres much if any equity. Rather than my credit file look bad with a DMP. Really in a mess all self inflicted. Anyone know a decent secure loan firm? Thanks

Dont get a secured loan.
If your income were to suddenly drop your home would be at risk.

DCFC79

ronnies6 said:

Just dont want work to be contacted or know my business

Your employer wont know about your issues unless you tell them.