Author Topic: Credit Card/Overdraft  (Read 647 times)

eskimojoe

  • *
  • Posts: 1
Credit Card/Overdraft
« on: Oct 03, 2011, 04:53:33 PM »
I'm 21 and employed, have a £1200 pound credit card maxed out but have been paying the minimum fee's so haven't been in bother with it. However, having it there has stressed me out and I now have an additional £800 overdraft. I have applied for a loan with my bank but don't as of yet have a good enough credit rating to get one. If I had a set amount to pay back every payday, I hope I would be able to pay the debt off over 12 months and be sensible enough with the rest of my income to start saving for the future. I feel like I have to get rid of the debt asap as it is beginning to affect my health with the stress.

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: Credit Card/Overdraft
« Reply #1 on: Oct 05, 2011, 05:14:20 PM »
Hi there eskimjoe
 
It sounds like you need to take some time to do some proper budgeting. I suggest you have a good review of your income and expenditure. Build in the repayment of your debt to your expenses. Then you can manage your money by keeping a money diary and sticking to your expenses budget. By do this this over time the debts will be paid and you can keep a lid on the stress :)
Debt Expert & Author
beatmydebt.com