Advice for a newbie

alexh9999

Hi there.
Just wanted some advice. I've been looking at the forum for the past few weeks but just joined today.
To sum up. 
I pay £440p/m for mortgage
I have 2 personal loans.
One has 8.5k remaining and the other 6.6k. Combined Payments are £340 p/m.
I have a pcp car finance at £170 p/m

As soon as payday comes. And after all my bills and loans come out. I'm in my overdraft after a few days. And I am in it until the next pay day. Then the cycle begins again.
I am increasingly getting deeper into my overdraft each month 

I live by myself and become worried about it getting worse and worse each month. 
I have called a debt advice agency and they advised a DMP but I'm not sure if that's the right route? 

MrGorsky

Hello , can you post an SOA?
It is a list of your affairs in a standard format the the folks on this board are familiar with.
Also, can you comment on your pcp car. Do you need the luxury of a car? If so, could you cancel pcp early, buy a cheap / old with lower monthly payments?

zippygeorgeandben

Yes - if you post an Statement Of Affairs we can see where your money is going.  Difficult to judge otherwise.  So put the kettle on, get your statements together and fill out the SOA to the best of your abilities.