am drowning in the river of debts?

Question

i really need help i cant seem to stop drowning
in debts and at the end of the month
i pay off debts that what i remain with
cant take throughout the next whole month so i have to
borrow and that is a debt
am so sick of my debt problems
and i dont drink or something
but i just find i have big debts please help me

Answer 1

I do believe it was YOU who spent the money you didn't have in the first place, so don't come bleating about it to me because I always work on the principle that if I can't afford it, I can't have it. Pity you're not the same.

Answer 2

what would you do if you could not borrow that money for that month. you are trying to blame your debt problem on other things . when it is you that has created the problem in the first place . if you need to borrow money for the second half of the month . say you need £100 pounds try and make do with £75 and then cut it down a bit more next month, only by what you really need for your self . you have got used to being in debt, so you can not see a way out . sorry mate you have caused your problem and it is only you that can get you out of it

Answer 3

What ever you do, do not get any Debt Management company to help you, talk to the CAB they will give you advice on how to talk to your debtors and possibly freeze the interest, which is usually the killer. Debt Management companies charge you for the advise and that can also stay on your credit record for up to 6 years that you have been with a company.

Try the link below and good luck in the future.

Answer 4

Taking out a loan will only temporarily "help" your situation.

I think you need to learn how to budget your money and you may find out you aren't as bad off as you seem. Meaning, do you get coffee every morning before work, eat out at lunch, etc. It all adds up BIG time! Maybe you are as bad off as you seem but unless you plot out all your debts and expenses for the month, you will never know what you need to do to solve the problem.

What has helped us in the last year is www.daveramsey.com He has a plan on how to budget (forms on his website) and how to get out of debt.

You may have to temporarily take a 2nd job while you clean up the mess or sell stuff (garage sale, eBay, etc) and use the cash to clean up the debt.

Answer 5

UK answer.Try www.cccs.co.uk They are the best bet for sorting you out as they are the only ones who will have no financial interest in profiting from your situation. Also you can get an interest free social fund crisis loan www.dwp.gov.uk. It does not sound like your in it deep enough for bankruptcy so no need to go there but it is an option to look into if things are really bad.I know no one likes that tag but it is debt wiped clean in the end. Try the cccs guys first.

Good Luck

Answer 6

You need to figure out your budget and what you are spending for at least 1 month. I mean from your groceries, eating out, cab rides, etc, all the way down to the nitty gritty. I think if you can put that into a spreadsheet like Excel you'll be really taken aback by how much you truly spend. Or just take a small notebook & pen everywhere you go and record your expenses.

I am assuming you have cc debt. You need to stop bringing cc's with you. Only use cash or debit. You need to pay down your cc debt. Go to http://www.Oprah.com/ and look up her Debt Diet section.

You need to cut out your luxuries, eating out, cable, entertainment, cab rides, etc. I am assuming this one is going to be the toughest. Once you have figured out your expenses and cut out the luxuries, perhaps you could set aside a certain amount of cash for the entire week, for food, transportation, etc. As soon as you run out, you're out of luck.

Answer 7

Try this website

http://boards.fool.co.uk/Messages.asp?bid=50079

You'll find lots of help here with some real experts on dealing with debt.Whatever you do though DO NOT go borrowing more to consolidate! The basic 3 rules to get yourself out of debt are;

1) Earn more
2) Spend less
3) Budget

Good luck!

Answer 8

Some of the answers on here are good...others avoid like the plague.
Dont, whatever you do, take out a loan.
One way I found to get out of and , stay out , of debt was to budget.
what I could not afford..I did not have and it is still the same for me today.

Answer 9

get your butt to your local Citizens advice bureau, believe me they are a great help, take all your paperwork and tell them everything, Don't be embarrassed they deal with so many people like us every day. You'll have to sit and wait in a queue but believe me it's worth it I promise you they will help you. Please don't sign up for anymore loans :(
Can I also take this opportunity to remind people that Yahoo answers is a problem solving site not a patronising sight
Debt can happen to anyone and due to ALL different circumstances please ignore negative answers

Please don't have anymore sleepless nights all will be ok

Answer 10

speak to the credit consumer counselling service, this is a free service and they are fantastic. they do everything for you as in contacting the creditors and all you need to do is ring them and they will contact you back so the call is free. you go through an income and expenditure form and they set a realistic amount for you to pay. you pay them the amount you agree and this gets distributed to the creditors, they are very helpful and are there for you at any time. the number is 0845 272 5400

Answer 11

You need to look into debt management, they can get all your debts reduced and you just make one payment to them every month and then it is divided up between all your creditors. Try a company called Sterling Green (0800 083 2827), we have to use them via work and they are really great!

Good luck and Merry Christmas! x