Thread: help me please with my journey to the straight and narrow

hello to all, I have been reading this forum on and off for some months now and it has inspired me to sort out my financial affairs.

I currently am in the situation where I have the following debts:

Northern Rock mortgage of £150,000, 218 interest only payments remaining.
Northern Rock loan (tied in with mortgage) of £30,000.
Both the above started June 2007, however the paperwork was completed March 2007 and I have copies of the online agreement.

Egg loan, started November 2005. 19 payments of £200 remaining against a balance of circa £3700. (currently in dispute under cca)

HSBC gold credit card, opened sometime in 2004 with balance of £5000.
(currently in dispute under cca)

Capital One credit card opened in january 2008, balance of £4500

Amex credit card, opened in march 2008, balance £400

a&l unsecured loan started n june 2008, balance of almost £6000

I have enought salary to cover the payments but due to sme bad personal circumstances and a rising mortgage - some months i have a double figure sum to eat and travel and live on.

when i moved house in 2007 i was confident and moving up in the world with a nice house but several events have broken that dream.

I am not someone trying to walk away from my debts - after my problems in 2008 I took on extra finance in order to try to sort things out and this in hindsight has made thing much much worse with the debts even more above my income.

my question is what can i do?

the site is full of tales of woe and this makes me very worried. i think that as long as i dont shy away from the problems and try to deal with them properly i wont have a problem.

i dont know how i can manage the debt and still keep a roof over my head.

i also hear that it is possible to go down routes and agree legally to reduced payments. how do i go about this and where can i read more about this?

all help very much appreciated.

Hi

If you don't get any replies I would move your question to the debt collection Industry Forum. I'm sure someone will then swoop down and help you out.

Hi, do you have any disposable income left at the end of the month? If so, a debt management plan or an IVA may be options for you to look into to help clear your debt. x

right now I have very little disposable cash, sometimes I pay bills and cannot afford my food bills which in hindsigh is how I go from bad to worse