spencer88
Member
Registered: 6th Oct 08
Location: cornwall
User status: Offline
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I had around 17/18k of debt when I was 18, and it became a problem.
I sold my Vectra C and stopped doing things I did not need to do.
I also needed a reliable car. I bought a 1993 Corsa Diesel. Most reliable and cheap car I have ever owned. Seriously!
Now I have two credit cards which I use monthly.
It is not nice going from having nice things to crap stuff, but needs must.
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Leighton
Member
Registered: 21st Feb 01
Location: Liverpool
User status: Offline
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quote:
Originally posted by Ian
Push the boat out if I'm having visitors. This week it's got Peroni, Sol and Brahama, the latter being on special and the former being payment for a computer job 
awww you did that for me 
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Nismo
Member
Registered: 12th Sep 02
User status: Offline
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Go and see a money expert, there advice is free, they will sit down with you go through all your debt and offer you the best advice they can.
Sell the car, cheap cars are reliable too, i bought an old rover years ago and nothing went wrong with it in the year i owned it, and it only cost me 350quid,
get an evening job? bar work or something, doesnt pay that well but it pays and that can go towards your debt.
Sell things you dont need, if you have a smart phone, sell it get a cheap £30 phone or something, they all do the same inital job!
rent a room out, lower your rental fee to attract someone in, having someone in for not alot is better than no one!
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Nismo
Member
Registered: 12th Sep 02
User status: Offline
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Also most mortgage companys will let you take a repayment holiday if you have been paying for 6 months +, take a break and let them know its to clear debt, it will be in there intrest as this means you are less likely to miss a mortgage payment.
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Tom
Member
Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
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There is no easy way out unless you are willing to take a hit somewhere in your life. For me (without understanding how much you owe) it sounds like selling the car would be the quickest and easiest solution. Also get rid of stuff you don't need as Ian suggested and live within your means. I had loads of debt and it took me years to clear it, mainly due to not stopping living beyond my means.
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VrsTurbo
Premium Member
Registered: 8th Jun 10
User status: Offline
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how much debt you in?
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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not to sound funny but it sounds as if your parents should take some of this blame
If they are paying out for cars for your brother and holidays and even paying towards the car replacement when you have more out goings than incoming then surely they should refrain from getting you more in debt
Easy to say but it sounds as though its a recipe for not valuing money in my opinion
If your parents are willing to help out with car payments then surely that should be directed towards your debt and get rid for a run about car
Its not going to get better from the sound of it
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Ben J
Member
Registered: 31st Jan 05
Location: Cheshire
User status: Offline
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Car needs to go ASAP.
As said buy a cheap runabout. That will free up quite a bit?
Also contact your mortgage company and explain you are in the poo. Most will allow you to defer on payments for several months.
[Edited on 21-07-2011 by Ben J]
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