seriously need help!

kk*_2

Hi everyone, well ive finally bit the bullet and decided enough is enough!

I really need some help, my partner and I desperately want to buy our own house... we understand thats a very long way off as we need to make some headway into our debts.. it doesnt seem to be happening fast enough for us and is so frustrating.

Im getting really worried that we are getting in over our heads and wont ever escape our debts.
the story goes like this.... 3 years ago, i came out to my parents and was basically disowned, I had to move out and with no savings, things were going to be tough! I had great credit as i was living at home and had no outgoings (i suppose i shouldve had savings )
anyway, my partner and i moved in together and I stupidly applied for a credit card, it was approved and we bought stuff for the flat with it, my partner was training to be a graphic design teacher so there was only my wages coming in plus a little each month from her part time job, we were struggling and getting behind and ended up with 2 more credit cards... anyway to cut a long story short... we decided we needed to take drastic action, my partner gave up teacher training and applied for a full time job, which she got, we have moved into a smaller flat which saves on rent and is closer to the station for my job... whilst this has helped, we are finding it really hard to make any difference to our debts, the minimum payments are not enough and i need some advice on where i could save money, and basically just some encouragement.

ive read a lot of the diarys on here and they have really helped a great deal, I thought i was the only person in this position... at one point we didnt even have enough for my trainfare to work!!

I will post an SOA soon, ive just had enough now, all i do is worry.

sorry for the ranting life story guys!! once i started talking i couldnt stop!! its so good to tell others without feeling too embarassed

k xx

Horace

Hi KK and welcome

As you as you can post the SOA the better it will be for us to see where we can save you money and help you cut down on your spending.

At the top of this forum is a sticky post about posting your SOA.

Dez-Titute

kk* wrote: »

Hi everyone, well ive finally bit the bullet and decided enough is enough!

I really need some help, my partner and I desperately want to buy our own house... we understand thats a very long way off as we need to make some headway into our debts.. it doesnt seem to be happening fast enough for us and is so frustrating.

Im getting really worried that we are getting in over our heads and wont ever escape our debts.
the story goes like this.... 3 years ago, i came out to my parents and was basically disowned, I had to move out and with no savings, things were going to be tough! I had great credit as i was living at home and had no outgoings (i suppose i shouldve had savings )
anyway, my partner and i moved in together and I stupidly applied for a credit card, it was approved and we bought stuff for the flat with it, my partner was training to be a graphic design teacher so there was only my wages coming in plus a little each month from her part time job, we were struggling and getting behind and ended up with 2 more credit cards... anyway to cut a long story short... we decided we needed to take drastic action, my partner gave up teacher training and applied for a full time job, which she got, we have moved into a smaller flat which saves on rent and is closer to the station for my job... whilst this has helped, we are finding it really hard to make any difference to our debts, the minimum payments are not enough and i need some advice on where i could save money, and basically just some encouragement.

ive read a lot of the diarys on here and they have really helped a great deal, I thought i was the only person in this position... at one point we didnt even have enough for my trainfare to work!!

I will post an SOA soon, ive just had enough now, all i do is worry.

sorry for the ranting life story guys!! once i started talking i couldnt stop!! its so good to tell others without feeling too embarassed

k xx

Hi KK

Have you contacted any of the det charities this really should be your first move.If you submit your SOA MIGHT BE WORTH STARTING A NEW THREAD BUT ON THE SUB-BOARD theres lots of great people on there that will help.
Good Luck DEz

Contact one or all of the following National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | local Citizens Advice Bureau.

mo1_2

hi and welcome,its hard to stop when you start,someone will give you good advise if you post a soa,dont get down,get empowered,lol

Deep_In_Debt

Hi KK, welcome to the board. Do post up your SOA and we'll have a look and see where we can help you save money. I'm no expert but others are.

This is a wonderful forum, lovely people and wealth of information. Rather addictive too!! We'll all help where we can - there are people in similar situations.

kk*_2

here goes....

SOA

JOINT INCOME £2400

RENT £500
PETROL £100
TOLL (BRIDGE) £40
TRAIN FARE £165
CAR INSURANCE £52 (for us both)
CONTENTS INS £13
PET INS £5
SKY £30
BT AND BROADBAND £30
MOBILES X2 £60
APPLE MAC INS £9
ELECTRIC £45
GROCERIES £150
BANK CHARGES £100 hope to get down after this month
COUNCIL TAX £85

CREDIT CARDS

MBNA £4600 £180 MONTHLY MINIMUM
LLOYDS TSB £1500 £45 MONTHLY " "
EGG £1195 £30 " " "
NEXT £350 £40 " " "
CATALOGUE £200 £40 " " "
BARCLAYCARD £2000 £50 " " "
BARCLAYS LOAN £6000 £225 " " " "
IN LAWS £900 £300 " " "

It looks so scary all written down like this!

this is for 2 adults plus a cat! this doesnt include, clothes, entertainment, hair cuts, birthdays or emergencies :-(

Cant believe weve let it get this bad x

OberonSH

Hey, just a few points - why the car and the train? is it possible to reduce this with car-share or another train? Look at getting a monthly ticket maybe?

Apple mac insurance - isn't this covered by your home insurance? Check!

Groceries are vey high - I spend under £200 a month on 2 adults a toddler and a baby in nappies. Get on over to Moneysaving Oldstyle for hints on reducing this. Batchcook, meal plan, and take a list!!!

What are the APR's on the credit cards? Try lugging them into the Snowballer (www.whatsthecost.com) and see what it spits out. Tough at first, but once it starts rolling your payments onto the next and hen the next it gets faster & faster!

And don;t worry. You're not alone, we're all there with you. Is your partner on board witht he debt free lifestyle? If not she needs to be - it's a tough walk on your own. Have a cuppa, and calm down. You've done the hard bit.

kk*_2

Hi thanks for the comments guys, Im definitely going to budget the shopping this month, unfortunately the train and petrol are necessary, I work in the city and my partner works in the total different direction!
we live in a small town and ive looked into travel situation, we might be able to get the petrol down to £75 a month but my trainfare will no doubt go up every year as usual :eek:

I really appreciate the help,

My partner is all motivated after I showed her a few posts the other day!
shes a graphic designer and I think she may have just secured her first freelance job which could bring us in £200 in the next couple of weeks yay!

k xx

kk*_2

forgot to say, my trainfare is a monthly ticket! its the cheapest option, otherwise nearly £10 a day x

mo1_2

hi,im probably bein stupid but whats 100.00 bank charges

Skint_Catt

Can you have a look at the tariffs you are on for the mobiles? Are you using them to their full (free texts and minutes) potential. Are you using them over the freebies? This needs to be reviewed every few months really as things regularly change.

Sometimes its worth getting a cr insurance quote even if you're mid-term especially if you've just moved as it might be cheaper to switch than to stay full term with your current provider.

Sign up to pigsback, Quidco, Kelkoo etc for free money for clicks and cashback (takes 10 min a day).

Catt xx