Newly self employed with no income coming in as yet, help

fightclub_3 · 29 January 2010 at 7:28PM

I have just relocated to Bicester as my husband couldnt find work in the North East which meant I had to leave my job in the Council where I was on 27k, my credit score is very low and my last default was due to drop off my credit file later this year!
However I couldnt find work straightaway and have set up my own business as a careers consultant in a place I dont know or dont have any contacts.
I am networking like mad and think I will do very well starting hopefully soon and putting as much in to it and working all the hours!

But I have a

loan with Natwest which I couldnt afford to pay and had to cancel my direct debit for my Jan 1st payment, I sent them a letter a week before asking for an arrangement over a month ago and never heard a peep.

I have a barclaycard with a min payment of £50 and have sent them a letter with a £10 cheque explaining the situation and have not had a reply.

I have done the same with Next as I payed them £70 min payment, they have sent one back saying its not enought even though I have said I have no income and not eligible for tax credits!

I have a loan which I pay 206 to everyday loans and they said no problem let us know when you can pay it, shock horror I wasnt expecting that.:j

I have an overdraft with fees of £20 per month which I have payed this month

Then on top of that i have my business phone, insurance and the tiny bits of advertising I have been managing to do and networking events i have been going to. I have now ran down on finances.

If my credit score is low anyhow, and I am okay mortgage wise, is it worth contacting cccs or debtline to go on a debt management plan?

This time next month I will be defaulting probably. My partner in march will not be able to afford the both of us an food will be sacrifised!

Any advice will be much appreciated!
I cant believe after waiting for my default to come off and this was the final year I am going to have to go through it all again.

niccatw · 29 January 2010 at 8:01PM

Hi Fightclub

Sorry to hear what a hard time you're having right now. Here's looking to the future and getting that business up and running!

If you know you are likely to to default next month, then it probably would benefit you to contact CCCS, Debtline or Payplan. I downloaded what would have been my DMP from CCCS. It gave me all the info I needed at the time and I could have managed my DMP myself. If you feel your strong enough to do this, then go for it. As you've already found out, most of them will tell you they want more money. But you could continue to do as you have done this month, just make sure you keep all the paperwork and proof of payments made.

If you post a SOA up, folks will give you loads of advice on how and where to cut back. You can do that here http://www.makesenseofcards.com/soacalc.html. Foks can be blunt and you may not like all of what you hear, but it's all well meant

Good luck

MrsTinks · 29 January 2010 at 8:25PM

OK firstly - welcome to Bicester

whilst not great work there is I think some factory/package work going somewhere round here (saw an add in postoffice - no idea if still relevant or rates of pay...)
There are I think a couple of recruitment agencies in town - no idea if they have anything on though. One thing there IS a shortage of round here is cleaners at a decent rate - if you're desperate enough for money then make some flyers and charge £7-£8 per hour and go door to door with the leaflets in the villages around Bicester

Newly self employed with no income coming in as yet, help

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