Fighting The Debt

susie40

I have looked at this sight for months now and I think have plucked up the courage to ask for help or advice out there.

Well here we go my mountain of debt seems to keep growing out of control:

LLOYDS TSB LOAN: 5,500
CREDIT CARD:

B. CARD: £3000 (22.9%)
CATALOGUES £600
CITI CREDIT CARD: 1515.37 (16.9%)
EGG: 2978.79 (26.9%)
M&S MONEY: £3940.10 (24.9%)
MBNA: 4736.62 (LOOKS LIKE 30.3%)
RBS: £1717.34 (18.3%)
SAINSBURY: £9880.00 (20.9%)

TOTAL:£33,868.02

INCOMING MONEY:SALARY: £1,100.00
STARTING TO SELL ON EBAY MADE ABOUT £120.00 SO FAR WHICH IS EATEN UP BY PETROL COSTS. HAVE TO TRAVEL 56 MILES PER DAY FOR WORK.
HAD A LOCAL JOB WITH VIRTUALLY NO EXPENSES BUT HAD TO LEAVE DUE TO BULLYING IN THE WORK PLACE.

MY DEBT HAS BEEN BUILD UP PROBABLY LIVING BEYOND MY MEANS AND MOUNTING HEALTH PROBLEMS - ONLY ME TO BLAME.

QUESTON I WANT TO ASK CAN YOU CANCEL PAYMENT PROTECTION PREMIUM SINCE THEY SEEM TO PUSH UP MY MONTHLY PAYMENTS. RECENTLY LEFT TSB AFTER DISPUTE SINCE I WAS BEING PENALISED DUE TO THEIR MISTAKE AND BEING CHARGED .HAVE NOW MOVED TO NATIONWIDE. HAVE PROTECTION PREMIUS WITH ALL MY CREDIT CARD.

DON'T WANT TO TAKE OUT ANOTHER LOAN AS THIS WILL ESCALATE MY DEBTS EVEN FURTHER. JUST FINISHED PAYING A&L WHICH WAS £266.00 PER MONTH.

MY OTHER MONTHLY EXPENSES ARE:

RENT/COUNCIL TAX:£160
FOOD:£120
UNION FEES : £10.00
INSURANCE(HOUSE) £10.00
PETROL: £120
CABLE: £44.00

HAVE APPLIED FOR JOB IN THE EVENING FOR COUPLE OF NIGHTS A WEEK.

ANY ADVICE WOULD BE APPRECIATED.

chevalier

did any of them pay out when you were unemployed? have any of them paid out when you were ill? if the answer is no then they are probably not worth having. And cancelling them would mean that more of the amount you pay monthly would go on repayment rather than interest.

you also might want to give CCCS or payplan a call to talk through your options with them. their numbers are at the top of the forum
good luck
chev

daisykinn1

susie40 wrote: »

CABLE: £44.00.

There are much cheaper packages so ask to downgrade.

firesidemaid

what are the minimums you are paying per month - have you missed any payments? could you transfer any to lower rates - either 0% or life of balance.

some folks on here have had some success by ringing up the credit card companies, saying they cannot afford rate and will move elsewhere and they have had rates lowered.

use the snowball calculator at www.whatsthecost.co.uk and pay off the debts with the highest rates first.

reduce the cable package if you can. the food bill can also be reduced - have a look at the old-style board on here for cheap meal ideas.

does your rent include water rates, gas and electric?

when your house insurance is due use the guide on here and go through quidco for cashback.

you haven't included car tax, insurance, maintenance, breakdown cover etc

i know you can claim back payment protection you have paid on loans, but not sure about on credit cards.

well done for posting and for paying off the a+l loan. well done too on applying for second job. good luck x