StarlordsTrees OP t1_iy3gmbe wrote on November 28, 2022 at 1:42 PM

Reply to comment by icantbearsed in £20k in debt and it's become too much to handle and is killing me. What can I do? (breakdown below) by StarlordsTrees

The RBS1 is actually a 5 year loan. They wouldn't extend to 10 year, but maybe that is for the best. You are right, I would be best to target that and re-finance when the black mark is lifted.

I an unfortunately in a phone contract, however it is only a 2 year and I will now be keeping the phone as long as it lasts on a sim only. I think that is better than upgrading, then I can use the money I save and put it in to high interest accounts.

I will cut everything but Spotify, (as much as I hate the Youtube ads, it must be done!)

I really appreciate the help here. Opening my wyes to how bad this really is.

icantbearsed t1_iy3ixj8 wrote on November 28, 2022 at 2:02 PM

I wouldn’t say we are opening your eyes to how “bad it is”. You had already accepted you’d got yourself into a sticky place by listing the debts and seeking advice.

But you’ve now taken some positive steps to begin the process of recovering the situation but unfortunately it there is no quick solutions and it is going to be a grind.

Keep your chin up, although the debts don’t leave you much pocket money each month, your income is still on parr with your debt repayments so it could be a lot worse!

Create some sort of chart, use excel if you have the skills if not an A4 chart on the wall is a positive reminder of how far your progressed across a year. When the numbers seem dauntingly big, being able to see each total drop or each debt paid off can help you keep focused.

You’ve got this, we all screw up, it’s how you deal with it that matters!

StarlordsTrees OP t1_iy3ki20 wrote on November 28, 2022 at 2:16 PM

What an insanely lovely comment. Thank you so much for your kind words.