20K of debt and stuggling

**ZAPPER**

Hi Mate....

Just quickly as I have to go out now, but could the thai boxing and shakes not go??
This would save you £50 a month..

ALSO:-

i hve 17k wrapped up in credit card balances, and arond 5k in loans...

Could you list these individually with what you pay monthly, the amount outstanding and the apr of each card??

**ZAPPER**

get a loan(which i have been accepted for) for 20k with 108 monthly repayments of £319.48 a month.....

Do you really want to pay £14k in interest for this privilage??????????:eek::eek::eek:

SarahNeedle1872

Hi Stu..... ur SOA looks very sparce (as u said, it is hard to try and remember what u pay each month). Theres lots of basic things missing like tv license, water, elec/gas, council tax etc, before u even get to things like birthday/christmas presents, car tax/insurance etc. Try getting all ur CC/bank statements, and see where all the cash is going..... Also start a spending diary to see what u do with ur money each month.....

Re ur gf, if she is earns £15k pa, thats *roughly* £975 pm..... with £400 livery fees that leaves £575..... u are going to struggle even more if u bought a house together....

I would suggest u start by trying to get a full SOA together, including all ur outstanding loans/credit card balances, plus the APR and what the minimum payment is... Then we can look to see where u can cut back, and how to shift ur debt around so ur paying the least interest possible.

HTH

Sarah x

stu_2008

Unfortunately the thai boxing stays.... its the only hobbie i have and for personal reasons too... and the shakes i'll probably cut out anyway...

i dont have any gas/water etc to pay as living with her gf's parents which is why i just pay rent, as and when i can....

she pays £400 a month for livery, but shes looking to cut hat down to half that by going part livery.. but i dont want to burden her with MY debt problems.

my only other expensinve SOA is obviously my car insurance, i pad last time £400 so will roghly be that again in august....

dont get me wrong, im payin just over minimum payments each month so it IS going down, but if say something was to happen to my car or house then i wouldnt have the money to pay for it... e.g christmas has just passed which dented my balance, car broke down, new alternator, new bulbs, mums burfdee, valentines, her burfdee, sisters anniversary, nieces burfdee, brothers burfdee... etc just feel like im paying out and paying out.

the other night when that reposession program was on i had loads of sums and figures and couldnt think, sleep or eat for worrying....

but now having come on here, the lightbulb has definately come on, and its a big 1000w bulb too and ive GOT to hit it on the head now so i can have a happy life and future with mu girlfriend...

first port of call is my mum, if i can borrow money to pay off my loan early thats £286 im saving a month..... mummyyyyy

stu_2008

right i have an update already......

isnt an option i wanted, but was the only way i could see.....

my mum has agreed to pay off my loan in full which will release £286 of funds every month. in april i recieve my wage rise, and in May i get a bonus which should be roughly £2500 which will go straight to debts....

so by june i plan on wiping outnearly 8k of debt.....

i finally feel like im getting somewhere, but i feel crappy for borrowing off my mum.....

is this the right thing to have done.....

once im in some kind of normality i'll be able to pay mum the 5k back....

anyone?

Kez100

You need to make sure you do repay the remaining debts and when you hand her the cheque for your loan repayment at the end of all this give her a big hug too.

Also, don't let this make you complacent. Make sure you stilllook at all options of paying your Mum off as quickly as possible. Then you can save to help give yourself and your girlfriend a stable future.

stu_2008

i know, this money is not a freebie and still a part of my debt, but for the time being its a massive help. my mum even said she can spare me 8k, but i dont want to borrow too much that i cant pay back.....

i love my mum....

and this is a start to gettin debt free..... half the amount bu june, and the rest asap...