hi, im a lot of trouble and thought you helpful lot can help, im 25 and renting a home costing £300 per month (400 with bills & council tax), i work full time and on a salary of £17k taking home £1200 per month after tax and nat ins, im now startin to realise the mess i might be well and truly in, im finding it hard to have money available to spend with the payments i have to make to my creditors on a monthly basis. im not sure what further action to take but id like some help.
in total i take about £1200 per month in, but with outgoings of about £900 for cards, loans and bills which leaves me with £300 to live on but thats not enough for me and is gettin me in more debt as ive borrowed £1000 off friends and family in the last few months.
my debt situation as follows:
Cahoot loan - 4700 to clear - paying monthly fee of 114.50
Cahoot credit card - 3000 - maxed - paying minimum payments of about 60 per month
MBNA credit card 4450 maxed - paying minimum payments of 125 per month
Mint credit card - 1450 maxed - paying minimum payments of 31 per month
graduate loan 7000 - paying monthly amounts of 154
student loan approx 7000 paying about £30-£50 per month
friends and family advance 1000 - can pay in 100 amounts per month
as you can see im in a right mess and up to my neck in it, it serves me right for the lifestyle ive had and the debts amounted to over the years, im not sure what to do, my parents have bailed me out enough times when i was younger and do not know the situation ive got myself in so im at a dead end and dont know what to do, any advice would be so appreciated.
Last edited by
manclad25 on Thu Jun 14, 2007 11:56 pm, edited 1 time in total.
