Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Andy8127
    • By Andy8127 15th Mar 17, 12:55 PM
    • 7Posts
    • 6Thanks
    Andy8127
    Serious debt and dont know where to turn
    • #1
    • 15th Mar 17, 12:55 PM
    Serious debt and dont know where to turn 15th Mar 17 at 12:55 PM
    Hi folks,


    Basically I've got a combined debt of around 23k in the form of 2 overdrafts, 2 credit cards and a Tesco loan with an APR of around 12%. The monthly payments for all of these come to around £380 a month of which about £90 of that is just interest
    I've always had some level of debt for as long as I can remember but its got worse in the last two years since I split from my wife and had out move out of the house we owned in joint names. We have 3 young boys, the eldest being severely disabled so money was tight even before moving out. Ive had to rent a house big enough so that I can have the boys round whenever they want and also to accommodate my disabled son. I always make the monthly payments on everything, but recently I started up a monthly planner to see exactly how much i'm spending and where, and it showed that I was spending more than I bring in.
    I've tried going to the bank for a consolidation loan but they don't want to know, I've tried credit cards to shift the debt onto interest free and again they're not interested.....im basically stuck and not sure what else to do. Im trying to cut back on spending but I cant see it making a significant dent on my problems.
    Sorry for waffling on but its taken a while for me to pluck up the courage to write this, im sure no-one likes to admit they're in trouble financially, and then sharing it with others is harder still, but im hoping someone on here can help point me in the right direction.


    thanks for listening
Page 1
    • pbsmiles
    • By pbsmiles 15th Mar 17, 1:02 PM
    • 98 Posts
    • 58 Thanks
    pbsmiles
    • #2
    • 15th Mar 17, 1:02 PM
    • #2
    • 15th Mar 17, 1:02 PM
    Well you have admitted there is a problem which is the start so well done on that. My recommendation is ring Stepchange and see what your options are. they are a debt charity and will ease your pain believe me. I separated from my husband with a interest only mortgage of 122k and 90k of load and credit card debt nearly 10 years ago. I am still in my house, although selling it currently to pay off the remaining 38k of debt. There is a solution believe me but you need to understand how you can be helped. Its hard to admit you have an issue but the relief when you know you can do something about it is amazing. Good luck. xx Paula.
    • Puddylove
    • By Puddylove 15th Mar 17, 2:11 PM
    • 440 Posts
    • 720 Thanks
    Puddylove
    • #3
    • 15th Mar 17, 2:11 PM
    • #3
    • 15th Mar 17, 2:11 PM
    Hi
    I'm not an expert on debt - but it seems to me that there are a few points I could suggest.
    1. Contact Stepchange or one of the free debt charities - they will help you.
    2. Post a Statement of affairs (SOA) - someone will help you out with a link. A SOA does two things - it helps you to understand your financial position, and allows others to make suggestions to help.
  • National Debtline
    • #4
    • 15th Mar 17, 2:15 PM
    • #4
    • 15th Mar 17, 2:15 PM
    EDIT - crossposted with Puddylove


    Hi Andy

    Welcome to the forum.

    Working out your monthly finances was a good place to start. If you complete this SOA (statement of Affairs) template you can post your figures in the forum here. That way you can ask the forum regulars to go through your figures and offer suggestions of where you may be able to budget more efficiently.

    www.stoozing.com/calculator/soa.php

    If it looks like you still can’t afford your monthly debt payments, and taking out more credit isn’t an option, you may need to look at options such as a debt management plan (DMP). A DMP is where you pay an affordable monthly payment to an organisation who then negotiates with creditors on your behalf. You would default on your debts but get the interest and charges stopped. Although it would negatively impact your credit file for 6 years you could focus on clearing the balance of your debts at an affordable rate. If you decide on the DMP route make sure you use a free provider such as Stepchange, rather than pay a fee.

    James
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • EssexHebridean
    • By EssexHebridean 15th Mar 17, 3:26 PM
    • 8,149 Posts
    • 43,028 Thanks
    EssexHebridean
    • #5
    • 15th Mar 17, 3:26 PM
    • #5
    • 15th Mar 17, 3:26 PM
    Hi Andy - god advice already given above there but didn;t want to read and run.

    Get that SOA completed - do it as accurately as you can but it *must* reflect things as they are right now - no good doing it as you think we want to see - if you reckon you're budgeting for stuff but clearly you're not we'll know! "Format for MSE" and post in here and we can go through it - and it's a rare one where we can't point the poster to savings, trust me!

    Once you've done that, you'll have a solid monthly budget to work from, and you'll know where your finances really stand - and both of those things are key to moving forwards.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • Andy8127
    • By Andy8127 15th Mar 17, 9:01 PM
    • 7 Posts
    • 6 Thanks
    Andy8127
    • #6
    • 15th Mar 17, 9:01 PM
    • #6
    • 15th Mar 17, 9:01 PM
    Thanks for the help guys.....I think ive done this right and tried to put in as much info as I could think of.....if I can think of anything else i'll put it down


    thanks again, the help is very much appreciated






    Household Information[/b]
    Number of adults in household........... 1
    Number of children in household......... 3
    Number of cars owned.................... 1
    Monthly Income Details

    Monthly income after tax................ 1675
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1675

    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 201
    Rent.................................... 500
    Management charge (leasehold property).. 0
    Council tax............................. 83
    Electricity............................. 30
    Gas..................................... 30
    Oil..................................... 0
    Water rates............................. 23
    Telephone (land line)................... 0
    Mobile phone............................ 25
    TV Licence.............................. 13
    Satellite/Cable TV...................... 39
    Internet Services....................... 0
    Groceries etc. ......................... 200
    Clothing................................ 20
    Petrol/diesel........................... 200
    Road tax................................ 16
    Car Insurance........................... 35
    Car maintenance (including MOT)......... 15
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 35
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 14
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 10
    Entertainment........................... 25
    Holiday................................. 0
    Emergency fund.......................... 0
    Total monthly expenses.................. 1514


    Assets

    Cash.................................... 500
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 1000
    Other assets............................ 0
    Total Assets............................ 1500


    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 0........(0)........0
    Secured Debt.................. 13000....(201)......11.5
    Total secured & HP debts...... 13000.....-.........-

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    CREDIT CARD....................4000......82........0
    CREDIT CARD....................2820......63........0
    JACAMO.........................230.......22....... .0
    OVERDRAFT......................2300......35....... .0
    OVERDRAFT......................1000......15....... .0
    Total unsecured debts..........10350.....217.......-


    Monthly Budget Summary

    Total monthly income.................... 1,675
    Expenses (including HP & secured debts). 1,514
    Available for debt repayments........... 161
    Monthly UNsecured debt repayments....... 217
    Amount short for making debt repayments. -56

    Personal Balance Sheet Summary
    Total assets (things you own)........... 1,500
    Total HP & Secured debt................. -13,000
    Total Unsecured debt.................... -10,350
    Net Assets.............................. -21,850
    • MrsLWW
    • By MrsLWW 15th Mar 17, 10:21 PM
    • 79 Posts
    • 238 Thanks
    MrsLWW
    • #7
    • 15th Mar 17, 10:21 PM
    • #7
    • 15th Mar 17, 10:21 PM
    Hi Andy,

    Well done, big step! There are a couple of options you can do. You can contact you debtors and negotiate with them on an individual basis - i.e. tell them that you are having difficulty paying and see what they say - they might default you but the might freeze the interest also. The other possible alternative is to contact a debt management company or someone like Citizens Advice who could help you through the process.

    The only other way to tackle it, if you're in for the long haul would be tackling the smallest debt and then snowballing (i.e. once you've paid it off, use the money you were putting towards the smallest debt towards the next debt).

    I'll mark some comments in red next to you SOA:


    Thanks for the help guys.....I think ive done this right and tried to put in as much info as I could think of.....if I can think of anything else i'll put it down


    thanks again, the help is very much appreciated






    Household Information[/b]
    Number of adults in household........... 1
    Number of children in household......... 3
    Number of cars owned.................... 1
    Monthly Income Details

    Monthly income after tax................ 1675 Do you have any ability to increase your earning - overtime or a second job?
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1675

    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 201
    Rent.................................... 500How long is left on your lease? And is there any possibilty of renting somewhere cheaper?
    Management charge (leasehold property).. 0
    Council tax............................. 83Make sure you're getting a single person discount
    Electricity............................. 30Double check you're on the cheapest tarrif
    Gas..................................... 30as above
    Oil..................................... 0
    Water rates............................. 23
    Telephone (land line)................... 0
    Mobile phone............................ 25Again check you're on the cheapest tarrif, when it comes up for your contract change to sim only
    TV Licence.............................. 13
    Satellite/Cable TV...................... 39Do you absolutely need this? How far along are you in the contract?
    Internet Services....................... 0
    Groceries etc. ......................... 200Make sure you're being as canny as you can - farmfoods is great for deals, Also you an sign up for vouchers which get e-mailed to you every month
    Clothing................................ 20Can you forgo this for a few months
    Petrol/diesel........................... 200
    Road tax................................ 16
    Car Insurance........................... 35
    Car maintenance (including MOT)......... 15
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 35
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 14
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 10Any friends who could cut this for you?
    Entertainment........................... 25
    Holiday................................. 0
    Emergency fund.......................... 0
    Total monthly expenses.................. 1514


    Assets

    Cash.................................... 500
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 1000
    Other assets............................ 0
    Total Assets............................ 1500


    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 0........(0)........0
    Secured Debt.................. 13000....(201)......11.5
    Total secured & HP debts...... 13000.....-.........-

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    CREDIT CARD....................4000......82........0
    CREDIT CARD....................2820......63........0
    JACAMO.........................230.......22....... .0
    OVERDRAFT......................2300......35....... .0Do you get charged for these overdrafts? If so, disregard what I say below and go to a debt management company
    OVERDRAFT......................1000......15....... .0
    Total unsecured debts..........10350.....217.......-


    Monthly Budget Summary

    Total monthly income.................... 1,675
    Expenses (including HP & secured debts). 1,514
    Available for debt repayments........... 161
    Monthly UNsecured debt repayments....... 217
    Amount short for making debt repayments. -56
    Between you cable, clothing allowance and haircuts (if you can do without) you would have an additional £69 (if there is anything else you could do above even better). That's an additional £13/month you could put towards the Jackamo account - it'd be paid off in 7 months, then you would have £35 a month to put towards another debt and once you pay that off put the £35 and whatever you are paying to that debt to the next debt. It is long haul, but doable, if you're not getting charges added to your debts
    Personal Balance Sheet Summary
    Total assets (things you own)........... 1,500
    Total HP & Secured debt................. -13,000
    Total Unsecured debt.................... -10,350
    Net Assets.............................. -21,850
    Originally posted by Andy8127
    Again, well done on your lightbulb moment and best of luck, you're not alone.

    HTH
    Debt peak approx £30,000
    CURRENT DEBT: Jan2017: £21,249 - Feb2017: £20,953 - March17: £19,223 - Apr17: £18,463 - May17: £16,374 - Jun17: £15,618: Jul17: £14,903 (CC Paid OFF!) Aug17: £12,700
    My parents always said "If you can't afford it cash, you can't afford it!" so true!.... mind you, turns out we can't afford much lol
    • EssexHebridean
    • By EssexHebridean 16th Mar 17, 10:13 AM
    • 8,149 Posts
    • 43,028 Thanks
    EssexHebridean
    • #8
    • 16th Mar 17, 10:13 AM
    • #8
    • 16th Mar 17, 10:13 AM
    OK let's take a look - comments in red as usual...


    Household Information[/b]
    Number of adults in household........... 1
    Number of children in household......... 3
    Number of cars owned.................... 1
    Monthly Income Details

    Monthly income after tax................ 1675
    Partners monthly income after tax....... 0
    Benefits................................ 0 No child benefit?
    Other income............................ 0
    Total monthly income.................... 1675

    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 201
    Rent.................................... 500
    Management charge (leasehold property).. 0
    Council tax............................. 83 Single person discount applied to this? Do you pay over 10 months or 12? 12 can make budgeting easier.
    Electricity............................. 30
    Gas..................................... 30
    Oil..................................... 0
    Water rates............................. 23
    Telephone (land line)................... 0
    Mobile phone............................ 25
    TV Licence.............................. 13 12.12 - sorry, I know this seems picky but rounding up/down isn't really helpful.
    Satellite/Cable TV...................... 39 Is this including internet & landline?
    Internet Services....................... 0
    Groceries etc. ......................... 200
    Clothing................................ 20
    Petrol/diesel........................... 200 Any way of reducing this? Have a read of Martin's driving economically guide, and consider where you may be able to walk rather than using the car.
    Road tax................................ 16 Do you actually pay this monthly? It costs most to do so, so would be ideal to put money aside and switch to paying 6 monthly or anually if possible. If not you need to be putting money in a separate account so it's there when needed.
    Car Insurance........................... 35
    Car maintenance (including MOT)......... 15 This seems incredibly low bearing in mind you're clearly doing a fairly high mileage. I'll be honest and say that I can hardly see this covering an annual service, let alone MoT test, depreciative items etc.
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 35
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 14
    Buildings insurance..................... 0
    Contents insurance...................... 0 You MUST have this. What happens if you get home tonight and find you've lost everything in a fire? Sorry to be brutal but get this one sorted - today.
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0 You don't buy presents for the children even?
    Haircuts................................ 10
    Entertainment........................... 25
    Holiday................................. 0
    Emergency fund.......................... 0
    Total monthly expenses.................. 1514


    Assets

    Cash.................................... 500
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 1000
    Other assets............................ 0
    Total Assets............................ 1500


    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 0........(0)........0
    Secured Debt.................. 13000....(201)......11.5
    Total secured & HP debts...... 13000.....-.........-

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    CREDIT CARD....................4000......82........0
    CREDIT CARD....................2820......63........0
    JACAMO.........................230.......22....... .0
    OVERDRAFT......................2300......35....... .0
    OVERDRAFT......................1000......15....... .0
    Total unsecured debts..........10350.....217.......-


    Monthly Budget Summary

    Total monthly income.................... 1,675
    Expenses (including HP & secured debts). 1,514
    Available for debt repayments........... 161
    Monthly UNsecured debt repayments....... 217
    Amount short for making debt repayments. -56

    Personal Balance Sheet Summary
    Total assets (things you own)........... 1,500
    Total HP & Secured debt................. -13,000
    Total Unsecured debt.................... -10,350
    Net Assets.............................. -21,850
    Originally posted by Andy8127
    I think key to this is that you need to look at increasing your earnings somehow. On your level of earnings, and with 3 children to think about, you should definitely be getting child benefit and I'm guessing some other benefits too - have you checked you're getting everything you're entitled to?

    There are small savings you can make - but they are only small - and currently the figures simply don't add up. It may be that a DMP might be a good option for you but I'll let one of the experts in that field tell you more about that.

    For reference, I've deliberately not questioned the budget for clothing and haircusts as frankly, with 3 kids as well as yourself, I'm not convinced you could get this much lower. If the kids are all boys then investing in some hair clippers to do them and yourself might be an option, but clothes I'm guessing are already essentials only.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • Andy8127
    • By Andy8127 16th Mar 17, 12:56 PM
    • 7 Posts
    • 6 Thanks
    Andy8127
    • #9
    • 16th Mar 17, 12:56 PM
    • #9
    • 16th Mar 17, 12:56 PM
    Again thanks for the replies.... in response to the red comments above..


    Income - This is a set monthly wage, there is strictly no overtime or prospect of earning extra. In the last 18 months we've had 110 redundancies so money is extremely tight.


    Benefits - My partner gets all the benefits going, especially the higher rate disability benefit and motability car for my disabled son. As far as benefits for myself goes, i'm unsure what I would be able to claim but I will be going to the citizens advice to check.


    Rent - I will be looking to reduce this as im only in a month by month contract now. I even looked into the possibility of moving into a static caravan on a residential caravan site as growing up I was used to this but theres nothing round here so far


    Council Tax - this is with single occupancy but on the ten month plan, which I will be changing to the twelve month plan next month when it becomes abvailable


    Electric and gas - Only recently changed to this tariff which was the cheapest I could find at the time. The house has a water tank for the sinks and bath, but a boiler for the heating so not very economical.


    Satellite TV - I'm in a contract with sky and get my landline, broadband, sky TV and line rental all for £39 at the moment


    Groceries - I used to be a bit of a Tesco snob but now do nearly all my shopping in Aldi and its really making a difference, and the food is great to boot ....still working on reducing this even further though doing things like cooking in bulk and freezing


    Clothing - Very rare I by new clothes, and for the kids I try to use the local sell and seek sites on ebay


    Diesel - I have a 20 mile round trip to work 5 days a week, and the same to get to see my kids. Could possibly bring this down a bit


    Road Tax - I had to buy a car in November as my ex partner passed her test and so got to keep the motability car, which is perfectly fine as she has to be the full time carer for our son. So forking out for insurance and tax at the same time wasn't possible. I payed the insurance in full and did the tax over 12 months


    Car Maintenance - Probably very conservative with this amount but its what I've been spending roughly every month since I bought it.


    Presents - Wasn't sure if this meant each month or average over the year.... averaged its probably £20 a month


    Haircuts - I have mine done once a month and usually do one of the boys as well, however my disabled son will not let anyone touch his hair so I have to shave it, and even then he screams the place down




    Probably should also mention the boys don't live with me, but I do see them often and have them every other weekend and every Wednesday night.
    When I moved out of the joint house I took literally nothing and had to start again from scratch, I even took on all the debt we had as I already felt guilty about ending the relationship so I wanted to make sure she would be ok, especially with having to look after all 3 boys and the struggles that brings especially with my eldest who needs full time care.


    I think that's everything so far.....hard to write but its strangely nice to get it out in the open.
    • jeepjunkie
    • By jeepjunkie 16th Mar 17, 1:31 PM
    • 1,384 Posts
    • 1,324 Thanks
    jeepjunkie
    https://www.youtube.com/watch?v=IMxciOsAoPY
    • Puddylove
    • By Puddylove 16th Mar 17, 1:50 PM
    • 440 Posts
    • 720 Thanks
    Puddylove
    Hi again
    Is there no way you can increase your earnings with a second part time job with a different employer?
    I work a FT job and then PT contracts - it's doable.
    • Andy8127
    • By Andy8127 16th Mar 17, 1:55 PM
    • 7 Posts
    • 6 Thanks
    Andy8127
    It could be a possibility yes. At the moment I go to college one day a week aswell, finish my course in June and then should hopefully get a decent pay rise as I'll no longer be a trainee. The uncertain nature of my sons health problems makes it difficult to plan even current work time, and I'm often off work due to his hospital appointments or emergency illnesses. Trying to not make excuses it's just not as easy to do as it sometimes seems
    • EssexHebridean
    • By EssexHebridean 16th Mar 17, 2:35 PM
    • 8,149 Posts
    • 43,028 Thanks
    EssexHebridean
    Well even a small increase could help - what about looking at the Survey sites? You'll never make yourself a millionaire via that route but even if you could clear £30 a month that's your electricity bill covered, isn't it.

    I take it you're not still using the Credit cards by the way? If so, you really have to knock that on the head immediately.

    On the food front if "most of the time" it's just you rather than the kids as well you can definitely knock a chunk off that. start noting everything you're spending there, meal plan, cook from scratch and shop with a list drawn up from your meal plan. Start your challenge with a determination to spend as little as possible for the first few weeks as this will force you to use what you already have in.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • Andy8127
    • By Andy8127 16th Mar 17, 3:34 PM
    • 7 Posts
    • 6 Thanks
    Andy8127
    I could definitely do surveys, do you have any info on where to find them or is it just a case of googling paid surveys ?
    • EssexHebridean
    • By EssexHebridean 16th Mar 17, 3:52 PM
    • 8,149 Posts
    • 43,028 Thanks
    EssexHebridean
    There's a section on one of the boards here - I think it's on "boost your income".

    Have a look at Scott Weiland's diary on the diary board - he's the font of all knowledge on the various sites.

    I find OnePoll pretty good - although it takes a while to get to payout the surveys are short.
    Opinion Outpost pays out at £2.50 so it's great for making small additional payments to a debt.
    Prolific Academic is working well for me at the moment but you do need to be in a position to regularly refresh your browser through the day as there's only a short window of opportunity for each study on there.

    There are lots more too - YouGov is a reliable payer although again it takes a while to get to payment level. Personally I'd avoid Toluna - takes FOREVER to get anything worth having!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • joeyjimbles
    • By joeyjimbles 16th Mar 17, 3:54 PM
    • 1,417 Posts
    • 7,635 Thanks
    joeyjimbles
    There's loads of info on surveys on the Boost Your income boards on here but off the top of my head

    Surveys
    Pinecone
    Prolific Academic
    Populus
    MyOpinion
    Panelbase
    Valued Opinions

    Also Mystery Shopping
    Red Wigwam
    Marketforce
    GrassRoots

    And the GPT (get paid to) sites
    Neobux
    Swagbucks
    Instagc
    Clixsense

    They all take time and pay out in small amounts but will help you bring in some additional income. If you can commit regular time then there are also working from home jobs available from companies such as Lionbridge - again there are threads on the Boost Your Income boards.

    Good luck.
    • Andy8127
    • By Andy8127 16th Mar 17, 4:03 PM
    • 7 Posts
    • 6 Thanks
    Andy8127
    Thanks so much ��, I'll take a look as soon as I get home from work tonight
    • Andy8127
    • By Andy8127 16th Mar 17, 4:15 PM
    • 7 Posts
    • 6 Thanks
    Andy8127
    When people say it takes time to get to payout, do you mean they're slow to pay or you have to complete a certain amount of free surveys before you earn a payout level whereby you start getting paid for surveys....I'm sure it'll all make sense once I look into it
    • sammyjammy
    • By sammyjammy 16th Mar 17, 4:23 PM
    • 4,218 Posts
    • 4,573 Thanks
    sammyjammy
    I could definitely do surveys, do you have any info on where to find them or is it just a case of googling paid surveys ?
    Originally posted by Andy8127
    Mostly they will enable you to cash in the odd Amazon voucher or the like but You Gov is your best bet for cash, I average a £50 bank transfer every six months or so, be happy to PM you a referral code if you would like.

    I use

    You Gov 6-8 months for £50 cash
    Power of Opinions points for vouchers
    newvistalive £50 cheque but takes about 12+ months
    Ipsos Isay points for vouchers
    Maximiles Panels points for Vouchers
    Pinecone Paypal transfer after each survey

    I have to say that I think some of the suggestions on her are a bit harsh given your circumstances, although I appreciate they are well meaning. If you end up going down the DMP route you need to make sure you change that SOA before you share any info with Stepchange or the like. You are entitled to live a decent life with your sons when you have them, not having to scrimp every penny.
    Last edited by sammyjammy; 16-03-2017 at 4:29 PM.
    "You've been reading SOS when it's just your clock reading 5:05 "
    • Fireflyaway
    • By Fireflyaway 16th Mar 17, 4:46 PM
    • 1,300 Posts
    • 1,323 Thanks
    Fireflyaway
    I agree with other posters who suggest contacting your creditors and explaining you are struggling and negotiate lower fixed repayment plans with them. You might find they will freeze the interest. It might impact your credit file but is that a huge deal to you? For me I decided to take a hit on my file in order to get in control. I would say from experience not to offer your last penny because if something unexpected happens ( you need a new tyre / the fridge breaks etc) and you miss a payment, some creditors will then get nasty / refuse to negotiate with you again. Whatever happens take care of your rent and council tax first and never get behind on those.
    See if you can get extra work. A few hours in a local shop of an evening or delivering leaflets after work / weekends. It won't be forever. Also have a look at Dave Ramsey debt free screams on YouTube its really inspirational.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,964Posts Today

7,658Users online

Martin's Twitter
  • RT @TfLTravelAlerts: Oxford Circus and Bond Street stations now both reopened and all trains are stopping normally.

  • RT @metpoliceuk: We have not located any trace of suspects, evidence of shots fired or casualties. Officers still on scene. If you are in a?

  • My hopes and prayers are that this turns out to be nothing. Stay safe.

  • Follow Martin