Now struggling with debt

jones_guitar

Hi, I am now struggling with debt. I was going to use StepChange. Can anyone recommend any better company who negotiates for the debtor more?

fatbelly

Nope. We recommend that you take control yourself.

Please post a statement of affairs

https://www.lemonfool.co.uk/financecalculators/soa.php

sourcrates

No one needs to negotiate, and you don`t need any 3rd party company help, you pay what is affordable, according to your budget.

You can choose to make that budget available to your creditors or not.

Self management is the best way to pay back what you owe, and regain control of the situation.

Check out our step by step guide to self managed DMP`s here -

In Debt and Wannabe Debt Free? First Steps! — MoneySavingExpert Forum

Grumpelstiltskin

Please don't make the mistake of panicking and rushing into a DMP without fully understanding if you are doing the right thing at the right time.

Start by reading this thread.

In Debt and Wannabe Debt Free? First Steps! — MoneySavingExpert Forum

jones_guitar

I'm never going to do it. I just ran the calculator, and there is no money left each month.

Martico

Take a breath.
Take a look at the thread linked above, there are well trodden solutions.
Are you at least able to cover the roof over your head, food, council tax and utilities? 
(Forget any credit card and unsecured loans for now when answering this - they're a low priority)

jones_guitar

Living isn't my problem, it is the unsecured debt.

Martico

You're in the right place - people here have either been through what you're going through, helped those who have, or both.
First step to get the best advice for your situation would be to take a look at your financial position - use the link supplied above by Fatbelly. Fill it in as fully and honestly as you're able, and if you're willing to share it to get advice from people here, click format for MSE and post it on this thread. 

sourcrates

jones_guitar said:

Living isn't my problem, it is the unsecured debt.

There`s a reason why its called unsecured debt, that`s because its non essential, and if you can`t afford to service it, then it stays unpaid, simple as that.

What are your circumstances, there are a number of debt solutions available, depends if you are a homeowner or not as to which might be suitable?

EssexHebridean

One step at a time is the way to deal with this - so stop, take a breath, then tackle the Statement of Affairs. If you can’t afford the debt payments, then stop the direct debits - it honestly is that simple as your priority bills MUST come first. The SOA will help you to establish what you really can afford though, and will also show you if any money is currently “leaking” from your budget each month. 

Give it a go - make it open and honest and it should reflect the position you are in right now. Then format for MSE and copy and paste into this thread and we can take a look and see what we would suggest. Does that sound like a good plan?