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Original poster

Need support desperately...please be gentle!

11 replies

Totallyindebt · 20/09/2014 20:15

God where do I start! I'm finally, at the grand age of 28, starting to lose sleep over debt! I'm fed up....feel I could top myself...must say that is probably the drama queen inside of me!
How do you know where to start when you bin every letter posted?! I have vague idea of creditors but if honest no idea what's on each!
I'm massively overwhelmed but feel like I've made the first step of realising I have a problem.
Guessing my daily Starbucks is first out of the window Blush

OP posts:
Fairylea · 20/09/2014 20:23

First thing to do is don't panic :) and get a proper in / out / debts budget going.

List all income.
List all outgoings.

List all debts.

Is your income larger than your essential outgoings? If so that's great. You just need to bring down the debt - try to switch all to a 0% credit card (if you go for one like mbna or virgin you can transfer money to a current account to pay off overdrafts or payday lenders).

Look at the outgoings you have - can you reduce them? Shop at aldi. Look at comparison sites for electric and everything else. Sell cars or mobiles? Ebay everything?

Do a statement (list) first and then go from there. Then we will know how to help :)

addictedtosugar · 20/09/2014 20:52

All of the above is excellent advice.
Its also worth for a month (ideally, but a week if thats all you can stand) writing down EVERYTHING that you spend - so, yes all those starbucks to help with the incomings / outgoings list.

And stop binning the letters!

Original poster
Totallyindebt · 20/09/2014 22:45

Yes yes I know I shouldn't have binned letters but they didn't exist when I did that!
I've done a list but shows more outgoing than incoming! I have no idea where to start. This is first time I've admitted a problem so that has to be a start!
What happens wen you're clueless as to who you owe what? I've lived like this for years.
This council tax attachment order has tipped me over the edge....12% of my wages gone! On the plus side it's getting paid!
Just so overwhelmed

OP posts:
Original poster
Totallyindebt · 20/09/2014 22:48

And also I would hazard a guess that nobody in their right mind would give me credit ever again so balance transfers not an option!
It's loads of small stupid debt not anything too serious I suppose in the grand scheme!
Thanks for advice.....list of what's spent is first job Monday!

OP posts:
AnythingNotEverything · 20/09/2014 22:49

If you're up for it, post your outgoings here and people can advise more specifically. Hearing what's normal for other people can make it easier to cut back. And yes, daily Starbucks is over!

FanSpamTastic · 20/09/2014 22:55

Contact step change the debt charity here.

addictedtosugar · 21/09/2014 13:54

Have you got any old bank statments? Can you see who you are paying money to on there? If you have no record of paying them, and no paperwork, your just going to have to wait for them to write to you, and look at the info then. If you've got a payment to them, ring them up, and ask for a summary of your account - including what interest rate you are paying. That will help you determine who to pay first.
Concentrate on paying who you know you owe money to!
Agree with Anything if your game, let us see what your incomings / outgoings are, and loads of people will offer advise.

TalkinPeace · 21/09/2014 16:23

If you have your credit cards, can you log into the accounts online and download your most recent statements.
Ditto the bank.

Yes, the Starbucks has to go. As do any thoughts of meals out, takeaways, new clothes and the like for a couple of months while you work out where you are aup to.
BUT
It can be done and you have just taken the hardest step
admitting that you are in trouble.
Come and join the big debt thread as its full of helpful people in different stages of getting out of debt.

At the top of it are the links to my spreadsheet that spell out where you are and how to get to where you want to be.
You'll do it. But it will not be easy.
Good luck and keep us posted as you find out your numbers.

ChillySundays · 21/09/2014 16:26

Whatever you do - do not go to a debt management company as they will charge you. Speak to CAB or a debt charity.
Good luck

TalkinPeace · 21/09/2014 16:53

And in utter agreement with Chilly
also avoid ANY sort of consolidation loan - there are much better and cheaper ways

DaughterDilemma · 01/10/2014 17:02

As you have a lot of small debts I think i would tackle one letter at a time. Next letter you get, pay off the minimum amount immediately, file the letter. Keep your holepunch and folder at hand and simply file as they come in. Do this with each letter as it comes in until you feel strong enough to look at the whole picture.

After a few weeks you will probably have all the info you need to hand in your file and can bin all the old letters.

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