Facing Up To It

hugedebt

Hi,

I have been reading the forum for a month or so now after having niggling feelings that I need to get our debt sorted & take control of our spending.

I have posted on the Bankrupcy forum, but i'm now hoping this will be a more appropriate place for me to post as I am more positive about the possibilities of being able to pay our debts off.

We have a WHOPPING amount of debt, both secured and unsecured..............

Abbey OD £1900
Abbey OD £900
Halifax OD £1500
Lloyds TSB CC £8500
Egg CC £5500
Egg CC £10500
Next Directory £500
Argos Card £500
Northern Rock Loan £16500
Northern Rock Loan (unsecured but runs alongside mortgage) £30000

Mortgage £260k
Picture Secured Loan £55k

WOW......its even scarier when you put it in black & white

I am going to attempt a SOA tomorrow, if anyones got any good tips for this then i'd appreciate any pointers!!

I know that we only have ourselves to blame for getting in this mess, but I really want to commit to getting us out of debt before our 90th birthdays so please help!!!!!

Thanks for reading, & I hope to get to know you all over the coming days, weeks, months, years..............

E xx

GingerSte

Hi Hugedebt. Welcome to the forum.

My number one tip for putting together an SOA is: look at other people's SOA's, see what they've done that's useful (or not as the case may be), and act accordingly.

Number two tip: start a new thread for your SOA, so people can see it straight away.

Hope this helps.

GingerSte.

poorandindenial

Hi hugedebt

Hello and well odne for posting, I look forward to the full SOA.

Check out the Newbies post at the top of the forum, there are links through to southernscousers guide to doing an SOA in there.

I think the things I see people being reminded about the most are amounts to budget for clothes, toiletries, petrol, car tax, MOT, haircuts, birthdays, going out and public transport so make sure you include any of those that apply.

See you tomorrow for SOA day