clueless by name clueless by nature

clueless82

Hi there ,

I am i need of some help, i have no idea where to start wiht our debt. I am so upset and scared about what we have done to ourselves. i need to deal wth it all.

since the year 2000 my hubby and i have slowly got in to debt, i have sort of known whats been going on but my hubby works for a high street bank and delt with every thing in the finacial dept for us, i just asumed all was ok. now things are bad and he kept getting CC and a loan to pay off other debts i got worried and looked for myself. I really have no clue about money i'm not very good at things like this thats why i left it to hubby but now i have to do somthing.

we have a debt of £33,324- 2 loans HSBC 6.9% £10.500 k, AA 6.2% £7.000 k. 6 x CC -hsbc 21.9% £2.500, hsbc 11.9% £564, nat west 0%£3,384 buy and fly 15.8% £26, barcley card 0% £5,010 and MBNA 0%£4,340. our HSBC account is over the over draft limit at 2,833.28 so i have no money and living off credit card now. our morgage is £987.54 a month

i have started to do the budget planner on here but have got a bit lost trying to account for everything. and got all montly payments APR'S and loan balances (as above).

would just like to know how bad this all is and any advice and support would be welcome . my hubby has a good job and earns around £ 2.000 a month not counting his bonus we hav a 1 year old son and i stay at home to look after him so earn nothing which makes me feel incredibly guilty but i have nogood qualifications and the cost of child care out weighs any salary i would earn however i will go back in to work if required and will help.

anyone the same out there?
x

masterkay

First of all welcome. You've come to the right place, there's lots of people here who have been through what you have and come out the other side.

Can you post a full SOA? Try if you can it would really us provide some useful information. If you can each loan/thing on one line it would help with readability and totaling it up. Above it's just in one paragraph.

One thing is I think you could earn some income by mystery shopping or selling your old stuff on ebay, this will give your income a boost and make you feel better about yourself.

Once you post your full SOA I'm sure there be lots of people jumping in with advice.

Merlot

Welcome to the board clueless82, you have come to the right place. I'm too a stay at home mum, and don't feel quilty about not bringing in an income, its a tough job being a mum.

If you could post a SOA (incomings and outgoings)list of debts and APR's, we have a look at them, their is always plenty of suggestions on this board to reduce spending.

If you feel daunted by the full SOA, post a minimal one just now, mortgage, council tax etc and we will work from there.

Merlot.x.

clueless82

thanks peeps for replying so quickly.

I do have lots of things in my spare room waiting to go on Ebay, baby stuff mainly and clothes. will get on it this weekend when hubby is home to help.

Going to sit down with hubby tonight and begin a full SOA will post it up when done.

sorry for format above not done this before so will be more user friendly next time i was typing in a panic i think .

x

Donedoingdebt

As well as SOA, make doubly sure that you're claiming all the benefits that are due to you.