Debt Free Wannabee Newbie

quartz_2

Hi

Im in a debt crisis, total debts approx £30,000. At present I dont sleep well at night and my family realationships are suffering. Until finding this site and spending many hours reading other peoples dilemmas and triumphs, I saw no way out of this hole I,m in. I,m still unsure of what to next, contacting my creditors is a scary prospect as they will all want money I do not have. However I have made a start, I move to a smaller property at the end of the week. This will save me £40 a month on rent, £480 a year. A small step, but the first of many.

Thanks to all other debt free wanabees who have given me inspiration.

**Amy**

:hello:

Welcome and congratulations on your first post.

Maybe it would be a good idea to post an SOA (statement of affairs) listing all of your incomings and outgoings each month, and also listing your debts with their monthly payments, APR and total.

That way people on here can maybe help you reduce your ougoings to help with the debt etc.

Well done on moving to a smaller property, thats a great start. Have you tried ebaying items? etc.

Maybe also speak to CCCS (free organisation) that could help you with what to do next.

x

ikkle87

Welcome to the board. Post your SOA up and then people will be able to offer advice but well done on your first step of downsizing.

ikkle x

nimbo

good luck sweetie, and those small steps will all add up...

claireabelle_2

Hi quartz, welcome!
I had debts higher than you when I started, and next week I'll be over halfway, so it is possible... just remember the hardest thing is starting to live within your means, and then harder still, starting to live below your means so you can pay the debts off! It's a double whammy! :rolleyes:
Best of luck on your debt-free journey - see you around
Claire

saver03

:hello:

As people have said putting up your SOA would be best please click on link
http://www.makesenseofcards.com/soacalc.html
Then people will be ablke to help you cut back and pay off debts sooner.

Well done on taking the 1st step and posting on here and also for downsizing and paying less rent. The small steps definately add up to big leaps (corny I know :rotfl: )

Good luck with it all

pania

Welcome to the boards quartz and welldone on making the first step. I remember crying the first time i ever posted here and seeing the replies. feeling that there was amybe a way after all. Speak to CCCS asap and they will be able to recommend a way forward for you.
Also if you can, work out a list of your incomings and outgoings, based on your new property and include all you can possibly think of.

With the debts, give us who with, current aprs, existing and available balances and monthly payment.

The wonderful people on here will help you to cut back even further and give you ideas to increase your income.

Beerworshipper

Hey quartz,

I just wanted to say welcome and hi. You've made a really positive start, you've admitted that the debt is a problem and believe me that is not an easy thing to do, in fact its probably the hardest thing to do.

You've also started to tackle it by reducing your outgoings which is a real step in the right direction. Plus, a smaller place not only generally equals less rent but also reduced bills - yay :j


As people have said, a statement of affairs is what you need to get together next, its important because it will identify where your outgoings are every month. If you feel up to it you can post it on here and people will make suggestions of where you can reduce some of those outgoings which will of course give you more money to pay off the debt. Its amazing how £5 here and £10 saved there can really give you a lot to throw at your debts.

I know it seems like a mountain to climb just now but you've just made the biggest step which is admitting it, now once you beging to tackle it you'll find that you'll sleep better and generally feel more at peace with the world.

I wish you luck on your debt free journey and once again, Well Done. :T :T

waddy_2

hi quartz and well done for posting. i only started posting about a week ago but just to be able to talk about your problems no matter how big or small really helps. things will get better and eveyone will be jumping to offer their pearls of wisdom, i have found ther are some really knowledgeable people on here who are only too willing to help. my advice - listen carefully and take heed, it can be done. good luck.