Debt

Starboy23

Hi everyone 
so not going to make excuses I got into this
Mess I am in all by myself and ignoring things.
so I am in a lot of debt and just don’t see a way out of paying this back anytime soon. The interest on each card is getting higher and higher and I can’t change over to a interest free card as it seems to be impossible because I have just went self employed ( I don’t know if it is that or my debt is so high) but I always get declined 
I have around 

£10,200  virgin card 
£4000 sainsbury card 
£5000 Halifax 
£3000 MBNA 

even just writing that I am so embarrassed and ashamed but I would really appreciate any help and advice I am given 
I am paying around £600 a month on interest alone and it’s getting scary 
I know I have been silly with money.

Thanks in advance for any advice 

fatbelly

There are lots of posters like you on our board at the moment. Long-term in debt, now finding options drying up and contractual payments unaffordable.

Have a read of this and give us an soa in due course

https://forums.moneysavingexpert.com/discussion/6496941/in-debt-and-wannabe-debt-free-first-steps-to-take-are-here-please-read-then-ask-questions

ManyWays

A good test of how bad your situation is is whether you can stop using the cards totally. If you can, then some cutbacks may give you extra to start overpaying the credit card with highest interest and things can turn around slowly.

If you cant, then unless there are easy ways to cut a lot (not living on beans on toast for a year) then you probably need a debt management plan to get the lenders to stop charging interest and make a single lower payment a month. And making some affordability complaints may speed up a DMP a lot. 

BUT how is the self-employment going? Are you generating enough profit to live on, or is that sometime in the future? If it is profitable now, are you putting money aside for tax, otherwise adding a HMRC debt onto those cards and you will have a much bigger crisis.