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Reality Check - Not Good....
crabbman2004_2
Posts: 100 Forumite
Hi, I'm twenty one and Own my own flat with my partner. We moved out 3 years ago...and have since built up various debts out of bad planning and nievity. Today we sat down and faced the harsh reality...
Our joint income totals £1600 per months
Out joiny outgoings total - 1800 per month
We have the Mortgage £99000 - Prop Val £110000
2 Personal Loans - £6500 Outstanding
DFS Sofa - £1200
Credit Cards - £3000 Outstanding
Parent Loan - £2000 Outstanding.
Dont know what to do....Any Ideas how to save or what to do going forward????
Our joint income totals £1600 per months
Out joiny outgoings total - 1800 per month
We have the Mortgage £99000 - Prop Val £110000
2 Personal Loans - £6500 Outstanding
DFS Sofa - £1200
Credit Cards - £3000 Outstanding
Parent Loan - £2000 Outstanding.
Dont know what to do....Any Ideas how to save or what to do going forward????
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Comments
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Hi, you need to post a full SOA so we can see where u can cut back..... check out the sticky for newbies at the top of the pagecrabbman2004 wrote: »Hi, I'm twenty one and Own my own flat with my partner. We moved out 3 years ago...and have since built up various debts out of bad planning and nievity. Today we sat down and faced the harsh reality...
Our joint income totals £1600 per months
Out joiny outgoings total - 1800 per month
We have the Mortgage £99000 - Prop Val £110000
2 Personal Loans - £6500 Outstanding
DFS Sofa - £1200
Credit Cards - £3000 Outstanding
Parent Loan - £2000 Outstanding.
Dont know what to do....Any Ideas how to save or what to do going forward????
Sarah x'We are all in the gutter, but some of us are looking at the stars' - Oscar Wilde0 -
Congratulations for posting here, and starting to get control!
Can you post an SOA - basically a list of all your income and outgoings?...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
To do a SOA, go and look at this thread:
Link: Help for First Time Posters
It would also be worth investigating some of the links in the Sticky: Debt-Free Wannabee Newbies Guide: Challenges, Honour Roll, Nerds & Where to start! on the front page of this board.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
You've had your flat for under 6 months..? Is the equity difference down to a deposit?
DFS are snakes from what I've seen, they declare hundreds of sales but the reality is usually that the items have never been sold for any more money (e.g. not a sale at all)
As stated above, post your SOA with APRs if poss.0
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