Debt Advice - Please help

Ready2move

Hi Guys,

Hope you can help me with some good advice. I've got myself in some debt and have racked my brains on what to do next. I hope you can point me in the right direction. SOA below

Income

Wages £1100 per month

Expenditure

House Costs £560
Car £120
Petrol £120
Gym £37 (cannot cancel until Oct 08)
Phone £40
Phone Insurance £6


Debts

Loan £2800 (£92 a month 3 yrs left)
Loan £1450 (£50 a month 2 yrs left)
Overdraft £1000
Credit Card £3200

I am cuurently paying minimum payment on my credit card every month of £50 but i am not getting anywhere.

Thanks for taking the time to look

GirlRacer_2

Hi there ready2move, Are you able to swap your credit cards to 0% Balance Transfers? That way whatever you pay off every month will dent your balance.

Your SOA is slightly patchy, what does 'house costs' cover? Are you able to break it down further?

vandanfc

Hi

Can you give a breakdown of what "house costs" covers ? There is no mention of food ? Also can you supply some background, ie. family size, rent or mortgage, etc. All this info would help. Could you also supply the interest rates on your loans etc.

RAS

Welcome

Can you break down these costs a bit, as the saving are found in the detail.

Also can you add MOT, car tax, insurance etc. Petrol and phone are high.

What is the APR on your OD and CC?

Any chance of overtime ofr a second job - even a few hours in a pub or supermarket?

Anything that could go on e-bay, amazon, or to a car boot.

And can you cut the petrol costs way down?

RAS

Can you move to Alliance and Leicester. I think they still offer an 0% deal for 12 months on their OD.

Sea78

Hi - just wanted to say wel done for posting your SOA - it can be really scary! I can't add anymore than the other posters have done
Welcome to the wonderful world of the DFW!!
Sea xx

Ready2move

Hi guys,

Thanks for all your replies so far.

House costs covers everything relating to the house. i.e Mortgage, food, utilities etc. I live with my boyfriend and we split the total amount of house costs between us. So he pays approx £760 a month and i pay the rest.

Petrol is thirty pounds a week, this is just communting basically.

I will look for all the exact APR details on loans, credit cards etc and update you all later.

Thank you once again for your help

vandanfc

Ready2move wrote: »

Hi guys,

Thanks for all your replies so far.

House costs covers everything relating to the house. i.e Mortgage, food, utilities etc. I live with my boyfriend and we split the total amount of house costs between us. So he pays approx £760 a month and i pay the rest.

Petrol is thirty pounds a week, this is just communting basically.

I will look for all the exact APR details on loans, credit cards etc and update you all later.

Thank you once again for your help

We still need actual details of the amounts involved regardless of how they are split. If you can provide the original amount for the item, ie mortgage = £600 pm, my share £240.

It's only when we can see exactly were the money is being spent, that we can hopefully highlight were you make savings.