Ive not used it personally...but today ive heard good reports about MS money???

cheers for the advise guys much apreciated, the debt is a computer course i started ad never finished credit cards (now gone) and moey loaned from family to pay off other debts.. wouldnt get much for car but not an option any way as i work 30 miles away from home in harrogate and aint much public transport that way. but all taken on board iv decided this weekend im going to make a mense seek advise etc.

Go see a financial advisor? Citizen advice?

You need to sit down and work out your monthly out goings and in goings... Make sure you dont spend over the limit in the months, and pay back as much as possible that month, will be hard as you wont have much to live on, but could be worth it when your debt disapears!

Might want to think about selling the car too if its an option.

Call the loan company.

Tell them what's going on, ask for them to freeze the interest and agree on a set repayment each month/week whatever.

If you're proactive, they'll be happier with that than having to chase you for the money.

Get the best interest rate you can via whatever means, 0% periods, longer term fixed lower rate credit cards, loan which you shop around for, arranged overdraft, whatever.

Just move the money where the rate is good and stop spending money. There is no magic solution, its easy, pay money off the debt and try to stop incurring interest, in that order.

Don't take another loan out...

Cut up all credit cards and pay what you can to them and they will come down..at 22 plenty of time..

is it cards? or loans?

I learned the hard way through all this loans to pay off loans etc, now all clear after selling old house...

[Edited on 02-04-2007 by mav]

Yeah mate, don't get another loan out.

Trust me! I should know, after all, i've just entered into an I.V.A. (Individual Voluntary Agreement).

[Edited on 02-04-2007 by RichACS]

quote:

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Originally posted by paul.mitchell1984
which is why i want to get a loan it would work out cheaper but i cant get credit lol its a badger, my own fault and i no it, im tryin to stop spending iv stayed in the past 2/3 months simply cos i cant afford to go out no more I HATE MONEY lol

[Edited on 02-04-2007 by paul.mitchell1984]

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which is why i want to get a loan it would work out cheaper but i cant get credit lol its a badger, my own fault and i no it, im tryin to stop spending iv stayed in the past 2/3 months simply cos i cant afford to go out no more I HATE MONEY lol

[Edited on 02-04-2007 by paul.mitchell1984]

work out where you money goes and stop spending it use some willpower, its easier to save than spend.

that said if its the intrest thats killing you rather than the payments, i dont see what harm getting a large loan to pay all the debt of could do.

ie if your paying 18% intrest on credit cards makes more sense to get one large loan paying 5% odd off, then work like hell and pay it off as fast as possible.

Do yourself a budget planner and try and have will power not to spend it.. put some money away into an ISA ( as your penalised for taking it out) the likelihood of taking it out is removed. Get a Bank loan rates approx 6% and hold an account with them and the ISA and you can manage your accounts well.

Or get your parents / family to get the loan and you repay them - again your almost forced to pay it as your family get on at you! :thumbs:

its all about self control to stop the never ending cycle.

don't get out another loan..

vicious cycle.

well im slowly getting more n more into debt, not masses but enough to panic at 22 wi no house etc to get secured loan, its not got to double figures yet so that singles out alot of "debt companies" i could prob get it all sorted with a loan however i struggle to get credit, due to the debt obviosuly, now iv just changed jobs on more money just wondered if you guys ha yoused any agencies or loan companies that were any good.

il round it off and say prob bout 7k (guestimate) prob more if i sat down and worked it all out.

[Edited on 02-04-2007 by paul.mitchell1984]