newbie facing up to debts

porkpie1981

Hi there! Im new on here! Just finished watching that debt programs reprossion reprossion reprossion (sorry bout spelling). Well since the age of 18 i have always spent loads but always cleared it. I now am a student aged 27 with a 22 month old and im 5 weeks pregnant. I know many would say why plan to get pregnant when in so much debt but thats the only thing that is keeping me slighly happy at the mo. Im staying to finish this year and then taking a year out and then going back to finish my degree.

At the moment i dont miss bills but im really panicking as i was so good with swapping them back ans forward from 0% to another 0 % . They thing is know i cant get any more credit(which i know now is a good thing). I actually am just thinking how did this all happen and how could i be soo stupid.

Before I came on here i was thinking I didnt want to do anything that would affect my future credit rating asi want their to be light at the end of the tunnel eg buy a house say in 5 years. I have read a few posts and its seems i shouldnt worry about this.

What can i do i want to pay it back and could if it wasnt for the interest.

Heres a rought idea of my debt

Egg loan: 5 grand, paying £100 a month
Halifax visa: 5 grand (interest pretty high)
Paypal visa 5 grand on 0% for about 7 months
Barcly card £1500 on 0%
Virgin £1500 (interest not to bad)

I will be getting 1 more payment of my student loan in april of £3500 and then after i leave i can only claim tax credits and some benefist so im really panicking.

I was planning in paying £3000 of the halifax card and using the other 500 to pay bills eg electric, oil, etc for a few months. I know u may how can u live but i get £60 a week tax credits and child benefit to do me till the summer.

Should i do that? What can i do if im only getting benefits for the year until i get back to uni? OMG im so scared. Can my interest be frozen

P,s I forgot to add that i have mybe say £1000 ebay clothes to sell eg i got ralph lauren baby clothes imported from the us and im trying to sell them now to get as much as i can paid off


Please help

HHH_2

just bumping you to the top so the clever people on here can help you. dont despair I'm sure something can be done

Verbatim

Well done for posting and try not to panic.

The best thing is to do a statement of affairs. That's write down all your income (as of now and during your break) and all your expenditure. Be as accurate as possible With your debts put down the APR, total debt, credit limit if a card and minimum payment. There's a sticky at the top of the page to help you get started.

You'll get a lot more help this evening when they'll be more people on here.

Will you get any financial help from the father? Is moving back home an option? have a look at what you'll be entitled to re benefits. I think there's a link at the top of the page on this too, Can't see this but if you google CAB they'll have a calculator/info on what you'll be entitled to

As soon as you know exactly what your situation is your options will become clear and hopefully you'll feel more in control.

porkpie1981

Hi there! I just noticed that i posted this twice and have added all my amounts in the other post with the same name. How would i delete this