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  • FIRST POST
    • debtaghh
    • By debtaghh 27th Jul 16, 10:00 AM
    • 848Posts
    • 2,356Thanks
    debtaghh
    I want to stop drowning
    • #1
    • 27th Jul 16, 10:00 AM
    I want to stop drowning 27th Jul 16 at 10:00 AM
    Hi,

    I am not sure where to start or what I want from this but here goes ...

    We are in major debt and things seem to be getting worse, I have been looking at this site for years and know there is no point me posting my soa as we literally can't cut back any more e.g

    food shop for fam of 5 £240- if you can help me reduce this then that would be great. I shop at Aldi, Lidl etc and have most shops locally.
    We just got rid of sky and have reduced mobiles, gas etc.

    We can't do an iva or dmp etc as we are in rented accomadation and I know estate agents can use guarantors etc but we don't have one plus they are not that keen as I have mentioned it before to them. Where we live , it's really hard to rent as there are limited properties and having bad credit would just go against us which we really can't do.

    Our biggest issues are that I do things that I end up regretting e.g booking holidays in the uk which still add up, book parties for the kids etc. I don't know how we got into so much debt but assume it must be down to this and i've never been on a good salary. My business has been hit badly and never recovered. I'm currently looking for a part time job but can't see this happening soon as I need it to be enough salary to cover childcare for my baby. My husband is on a good salary but works shifts which means I can't rely on him for childcare help and we don't have any family that can help us. I've tried working for direct selling companies and sell things on music magpie, ebay and gumtree ( I literally have nothing else to sell). I use cashbaack sites too and did do surverys but never seem to be eligible but will stary back with that- any recommendations for good ones? Or any ideas of making more money from home?

    We are due to go away soon and I would love to have advice on how we can save money on food whilst staying at a hotel, I thought I will bring snacks from home and croissants, drink cartons for breakfast but don't want to be speending loads on lunch and dinners.

    I also feel pressure from my family when it comes to birthdays and christmas time with regards to buying expensive pressies. We have a holiday booked at christmas too ( I know not ideal).

    I supoose I'm writng this to start afresh as I can't carry on like this anymore. I am severly depressed and wake up exhausted every day and have no motivation to do anything. I feel like we are drowing in debt. I am currently receiving cbt but in all honesty the crux of the situation is the debt is the issue. I'm sick of having regrets and living life like this so fingers crossed to new me, it' going to take years but here goes.....
Page 34
    • debtaghh
    • By debtaghh 30th Nov 17, 1:19 AM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    Just managed to catch up with your diary..

    Have subscribed
    Originally posted by Little Miss Winner
    Wow, thanks.

    Iím sorry for my up and down posts!
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • debtaghh
    • By debtaghh 30th Nov 17, 6:50 AM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    Morning,

    I managed to speak to an estate agent yesterday and asked about bad credit and renting a property and in conclusion itís what I thought. It would cause an issue esp as there are not a lot of properties available why would they rent it to someone with bad credit. He said the only option would be, to rent direct from ads in the paper, which doesnít really happen where I live. I really donít know what to do.
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • Cumbria lass
    • By Cumbria lass 30th Nov 17, 7:10 AM
    • 884 Posts
    • 4,504 Thanks
    Cumbria lass
    If you are looking for new private rented see if your local council have a accredited landlord scheme, could you downsize to a smaller house to save some money .

    I have checked my balances and both my credit cards are 2.25% min payment , I overpay each so have never really looked before .
    Nov 2017 CC1 £3329 CC2 £600

    Debt Free Nov 2019: earlier if I have my way
    • debtaghh
    • By debtaghh 30th Nov 17, 7:18 AM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    If you are looking for new private rented see if your local council have a accredited landlord scheme, could you downsize to a smaller house to save some money .

    I have checked my balances and both my credit cards are 2.25% min payment , I overpay each so have never really looked before .
    Originally posted by Cumbria lass
    Thanks. We are paying the cheapest rent in the area, there are five of us in a 3 bed house. We have big age gaps so not really sure how a smaller house would work.

    I looked last night and all our other ccs are 1% minimum , I do worry from what the lady was saying that they will all go up to 2.25% which will mean an extra £700 per month.
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • enthusiasticsaver
    • By enthusiasticsaver 30th Nov 17, 8:51 AM
    • 4,827 Posts
    • 9,109 Thanks
    enthusiasticsaver
    The usual minimums are between 2 and 3% with a few still using 1%. I think Tesco is 1% but with interest rates rising and the worry about high unsecured debt it may well be they will all gradually move to the industry standard. I haven't read anything though but as CL says a lot of them do have 2.25% plus interest so this will pose a big problem for you if your deals expire and you can't move them. What do you pay monthly on minimums now on all of the cards combined?
    2 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • debtaghh
    • By debtaghh 30th Nov 17, 9:01 AM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    The usual minimums are between 2 and 3% with a few still using 1%. I think Tesco is 1% but with interest rates rising and the worry about high unsecured debt it may well be they will all gradually move to the industry standard. I haven't read anything though but as CL says a lot of them do have 2.25% plus interest so this will pose a big problem for you if your deals expire and you can't move them. What do you pay monthly on minimums now on all of the cards combined?
    Originally posted by enthusiasticsaver
    We pay £545 approx on minimums. All of our ccs are 1% or less apart from the one bc that was on 2.25%. I may be naive but as they were all that percentage amt it didnít even occur to me that wasnít the norm.
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • enthusiasticsaver
    • By enthusiasticsaver 30th Nov 17, 10:58 AM
    • 4,827 Posts
    • 9,109 Thanks
    enthusiasticsaver
    Any chance of your parents suspending their repayments so you could use that in the meantime towards the Barclaycard minimums?

    If you stay put in your present house it won't matter if your credit record is bad. Depends on how secure your rental is and whether there is any chance the rent could go even higher.
    2 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • WannabeFree
    • By WannabeFree 30th Nov 17, 11:04 AM
    • 385 Posts
    • 2,612 Thanks
    WannabeFree
    Morning,

    I managed to speak to an estate agent yesterday and asked about bad credit and renting a property and in conclusion itís what I thought. It would cause an issue esp as there are not a lot of properties available why would they rent it to someone with bad credit. He said the only option would be, to rent direct from ads in the paper, which doesnít really happen where I live. I really donít know what to do.
    Originally posted by debtaghh
    I haven't fully caught up yet so didn't want to post but

    When letting agents credit check they only see public information. They won't see if you're behind on a credit card etc. They see CCJ's/Fraud markers etc. They won't see a full credit check like you see/when applying for credit.
    ďOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.Ē
    • debtaghh
    • By debtaghh 30th Nov 17, 11:04 AM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    Any chance of your parents suspending their repayments so you could use that in the meantime towards the Barclaycard minimums?

    If you stay put in your present house it won't matter if your credit record is bad. Depends on how secure your rental is and whether there is any chance the rent could go even higher.
    Originally posted by enthusiasticsaver
    No my parents are extremely difficult when it comes to money and don’t have any understanding.

    We have no security in our current house as our landlord won’t give us a contract as they say their life is up in the air so they can’t guarantee how long we can stay here. I don’t think it will go up as it would mean a new contact.
    Last edited by debtaghh; 30-11-2017 at 11:13 AM.
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • debtaghh
    • By debtaghh 30th Nov 17, 11:07 AM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    I have worked out that if my husbandís barclaycard changes as well to 2.25% we will be approx short of £580 in Jan. I have a spare £300 and was wondering whether I should keep for January or put it on a cc if yes which one?
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • debtaghh
    • By debtaghh 30th Nov 17, 11:15 AM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    I haven't fully caught up yet so didn't want to post but

    When letting agents credit check they only see public information. They won't see if you're behind on a credit card etc. They see CCJ's/Fraud markers etc. They won't see a full credit check like you see/when applying for credit.
    Originally posted by WannabeFree
    I didnít know that, thanks. Although if we did a dmp that was one if the questions when we applied for our current house.
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • enthusiasticsaver
    • By enthusiasticsaver 30th Nov 17, 11:27 AM
    • 4,827 Posts
    • 9,109 Thanks
    enthusiasticsaver
    What sort of payment solution did Barclaycard offer you?

    I think I would keep your £300 for now in your emergency savings account given you will be so tight for payments in January, February and it will then go towards the debt anyway. It won't have any impact now unless you have any debts on high interest rates which from memory you don't.

    If you can struggle through to the summer without any defaults you may still stand a chance of moving some of the 0% deals across to new ones but as you say your high credit utilisation may go against you.
    2 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • enthusiasticsaver
    • By enthusiasticsaver 30th Nov 17, 11:30 AM
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    • 9,109 Thanks
    enthusiasticsaver
    You need support too so you must discuss this with your husband too. It is not fair for you to shoulder all the worry. Does he know the credit card payments will be going up next year?
    2 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • debtaghh
    • By debtaghh 30th Nov 17, 11:55 AM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    You need support too so you must discuss this with your husband too. It is not fair for you to shoulder all the worry. Does he know the credit card payments will be going up next year?
    Originally posted by enthusiasticsaver
    Yes, we had a long chat last night and he pretty much had a break down. He said he knows he should support me but doesnít know what to do. I have more emergency money, this £400 ( found an £100 that I could cut back on) was going to clear my Tesco cc. They are all on 0% or low interest so agree I will keep to help January. In Feb and March we wonít have to pay Council tax or two lots of pre payments cards which is a saving of £183. Iím just hoping like you said we can survive and then the minimums will reduce.

    Me and dh also said we will have to be extremely frugal , no biscuits, choc bars at home. No coffees out etc. Cheap meals , I am going to work out what the cheapest we can survive on whilst still providing the right nutrients for our children.
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • Little Miss Winner
    • By Little Miss Winner 30th Nov 17, 2:08 PM
    • 3,966 Posts
    • 135,920 Thanks
    Little Miss Winner
    Hi again this post may help you.

    http://forums.moneysavingexpert.com/showthread.php?t=3865419

    I dont know that much about DMPs. your rent is extorniate though
    • Little Miss Winner
    • By Little Miss Winner 30th Nov 17, 2:10 PM
    • 3,966 Posts
    • 135,920 Thanks
    Little Miss Winner
    also..

    more info here..

    https://www.stepchange.org/debt-info/dmp-mortgage-home-tenancy.aspx
    • debtaghh
    • By debtaghh 30th Nov 17, 3:12 PM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    Hi again this post may help you.

    http://forums.moneysavingexpert.com/showthread.php?t=3865419

    I dont know that much about DMPs. your rent is extorniate though
    Originally posted by Little Miss Winner
    Originally posted by Little Miss Winner
    Thanks. From what I understand if we did a dmp they could affect our rental situation but if we set a private agreement with barclaycard that potentially should be ok.
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • debtaghh
    • By debtaghh 1st Dec 17, 6:33 AM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    Morning,

    Dh didn’t receive a letter from barclaycard yesterday so I wonder if his minimum isn’t going up yet. When I said January had a shortage of £580 this accounted for his cc going up so if it doesn’t the shortfall is £380 which I have. I don’t include any salary from me so hopefully the shortfall won’t be as bad in general. I’m going to take one month at a time. Made some surprising sales yesterday. I’m thinking of clearing my Tesco cc as well as keeping money for Jan. The balance is £360, the 0% runs out in April so needs clearing by then. It will mean £10 less minimum and one less cc. Will look at accounts again to see if there is a way I can clear my balance and have enough for Jan shortage. I am taking bits back that I bought with my bday money, my bag is broken so I bought a new one with money given but I feel that’s not an essential as I can still use mine. I’ve cancelled meals out that were planned around new year ( I had allocated money but that’s going in to Jan shortage fund). Certain things I can’t cancel or I’ll lose money so we will still do nice activities.

    I feel I def have got my frugal cap on. I had veg that needed using up so I made Home made soup and I had mozerella that needed using so made homemade pizza. This went down very well, I didn’t have yeast so googled a recipe without and it’s so easy and cheap! I think I’ll be making this regularly. I think next year it’s best if we don’t see ppl as often as this costs money. I’m going out today but the choice was eat out for lunch or go to my friend’s house and I opted for her house, nice saving there.

    Have a nice day everyone.
    Last edited by debtaghh; 01-12-2017 at 6:35 AM.
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • enthusiasticsaver
    • By enthusiasticsaver 1st Dec 17, 8:28 AM
    • 4,827 Posts
    • 9,109 Thanks
    enthusiasticsaver
    Well done! Clearing the Tesco card would be great to get one gone. Every £10 matters.
    2 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • debtaghh
    • By debtaghh 1st Dec 17, 11:05 AM
    • 848 Posts
    • 2,356 Thanks
    debtaghh
    I have officially cleared the Tesco £360.40, it is now at £0! I will update my signature. I even paid an extra £100 off my barclaycard and I have money for Jan shortfall. All being well as long as I stick to my tight budgets we should be ok inclusive of end of Jan bills. I have only allocated £100 for food until 20th Dec but I only need fruit, milk, etc. With December’s pay I’ve allocated £275 for food including my Xmas shop but I’ve cancelled turkey (£40) and am just having a £5 chicken. I already have crackers, peanuts etc so hoping £275 will be enough until Jan pay when food budget will be £220.
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
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