Advice Needed?!

spurs1812

Back in 2002 I was in a seriously bad financial state, owing in the region of £40K to Natwest Bank in loans and overdrafts. My account was eventually shutdown and I made the stupid mistake of trying to ignore everything at the time. I have been moving around for the past 5/6years and so have never heard anything more since. However, I recently met a new partner who has convinced me to start trying to get my affairs in order! The problem is, I have no idea where to start??? Any advice/guidance would be greatly appreciated?

CCCS_Matthew

Hi Spurs,

Well done for looking at dealing with your finances, it can be a little overwhelming knowing where to turn when your in this situation.

I think the first thing you need to do is get a copy of your credit file from Experian/Equifax/Call Credit.

It will basically outline what debts you owe, who their currently with and importantly how much you owe. Once you know these details you can start building a budget (or statement of affairs as it's known on here) to review how much you can afford to offer towards your debts after you've covered your general living costs.

I won't go into a lot of detail at the moment, as I think the first port of call is to get your credit file and then take it from there.

Hope this helps for now
CCCS