what do i doi have no money and am up to my eyes in debt?

Question

i just dont know where to begin i have tried to work them out do you think citizens advice would help me

Answer 1

First of all. DON'T PANIC. The world is not going to end. We don't throw people in prison for debt these days. Nothing is going to happen to you.

Look at your bank statement and write out how much you owe, to whom and when the payment goes out. Write down any private debts you have incurred and when payment is expected.

In other words form a complete picture so that you understand your commitments.

Then examine your housing and bills costs. Write them down. You now have a full understanding of what goes out each month.

Write down what comes in.

Finally write down how much it costs you to LIVE (no pubs/clubs/clothes/white goods etc. just food.

Now you have a full picture of your finances. Do you have enough to meet your commitments?

If yes - you'll just have to live a quiet life for a few years until you have repaid what you owe. If no, determine the amount of shortfall. Can it be made up by working additional hours or as an extra part time job? If it can, then that's the price you'll have to pay.

Don't try to extend the debt if you can at all help it - aim to pay things off as quickly as possible and in that way you'll stay focussed and determined. CAB is a good source of debt counselling, but nothing anyone can say or do for you will mean a bean until you take control of your own spending and debts, and the steps I have outlined above will help you (from my own experience!)

Finally, ALWAYS, ALWAYS pay 2 people in life before anyone else - the rent/mortgage and the VAT man, and keep your current account seperate from your mortgage provider!

Good luck m8 - 99% of us have been there and we're still alive and kicking.

Answer 2

Yes your local Citizens Advice will help.

The main thing with debt is not to panic, first you have to see where ALL your money goes keep a record of everything you spend for a week that includes anything even that 50p newspaper and 30p bar of chocolate. Then see where you could cut down e.g. do you need a newspaper every day when you can access the same info on the net or telly. It may only be 50p a day but if you add it up that's over £150 a year. Likewise with that bar of chocolate or Latte etc.

If you can't cut back at all then try to get a second job even if it's only for a short time to help with the debt.

Answer 3

Unfortunatly most people see your problem as a financial one, but in fact chronic debt is an attitude problem.

As soon as you realize that, you will almost automatically make adjustments in your life that will elliminate it. I have seen it take place in too many lives to dismiss it.

Answer 4

There are a LOT of shady debt consolidation companies out there. You might want to go to your bank and ask one of the employees if they know of any reliable people who can help your organize your finances.

Answer 5

If things are really that bad then you need professional advice. CAB will point you in the right direction. Stay away from the loan sharks.

Answer 6

I think talking to your bank manager is the safest way forward - there are too many dodgy companies who will appear to be solving your problems, but actually leave owing more in the long term.

Answer 7

weel , if you are so much desperately in debt and a girl,use your imagination and maybe you will be full of money and others will be in debt.

Answer 8

hi, I don't promise anything but if you are willing to read (!!) these then people in debt often seem to find some help here :
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!

Answer 9

Coz your outgoings are more than your income! and yes the CAB can advice you what to do,

Answer 10

yes they will and for free

good luck x