Will I be ok?

cheeseontoast12 · 21 November 2017 at 1:31PM

Hi,

I have £2,700 on a credit card. (I finished off paying a 2k loan this year and £500 on a catalogue for white goods) The CC debt is various vet fees over the past 4 years (yes I have 5 cats, eek!)

It just seems so much money, keeps going up, not down. I've worked out I can pay off £200 a month. I am getting made redundant around May next year so trying to get it lower. Obviously I hope to be back straight to employment but I just worry. I have no other debts, do you think it will be ok? I will pay it off in the end?

Cats are now all older and will not be any more hefty bills as they are at the age where I wouldn't be paying out silly money. Only things would be routine vet bills which would come out of wages a long with one of them on daily meds. Covered by wages.

Thanks

EssexHebridean · 21 November 2017 at 1:36PM

Put together a Statement of Affairs (SOA) - you'll find the link in my signature below, or in the "sticky" post at the top of this board - and post it in here and let's have a look and see whether there are savings you can make that you might have missed, and how best to tackle the debt.

And remember - if you come to get animals in the future - insurance is a wonderful thing!

National_Debtline · 21 November 2017 at 1:41PM

Hi cheeseontoast12

I take it that you're no longer doing any further spending on the card, and are simply paying the balance off month by month? I'm also assuming that £200 is a good bit more than the absolute minimum repayment required on the card, so while there may still be monthly interest charged, it's applied to a steadily decreasing balance.

We can only really assess how you're faring at present, but for now if your balance is coming down each month then you are headed in the right direction, broadly speaking, even if it's not reducing at the rate you would ideally like.

Dennis
@natdebtline

cheeseontoast12 · 21 November 2017 at 1:57PM

Thanks
I will look at the SOA.
My partner earns his money and pays all the bills, mortgage etc so it would really just be based on what i earn. Mine has always been for the cat's food etc... my mobile phone, food (i like to get mine separate as i have a dodgy tummy so basically have to eat weird food mostly, well, bland compared to a normal person) and then anything left i am using on the CC.

Yes min payment is £57 ish

Yes, insurance, i know. Hindsight is a wonderful thing but the premiums were going up and up and up!!!

Also, won't be having so many pets again, lesson learnt.

Will I be ok?

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