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  • FIRST POST
    • gembo69
    • By gembo69 23rd Nov 17, 6:11 PM
    • 40Posts
    • 19Thanks
    gembo69
    Help, outgoings are more than incoming :(
    • #1
    • 23rd Nov 17, 6:11 PM
    Help, outgoings are more than incoming :( 23rd Nov 17 at 6:11 PM
    Hi everyone.
    Before I start, I’m one of these ’we’ll cross that bridge when we get to it’ kind of people, but it’s getting way out of control now and I need to stop and look at what I’m doing!
    Husband and I both work full time and we have a 6 year old daughter. The mortgage is in husbands name and no equity in it yet.
    My unsecured debt equates to 35k and husbands 40k.
    Husband works in a bank so not sure if debt management or Iva would affect his job.
    From my calculations salary and child benefit is £3200 with outgoings equating to £3400, that’s not including money for food petrol or living.
    Really don’t know what is the best option, any help would be very much appreciated. Thanks.

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    Last edited by MSE Andrea; 29-11-2017 at 12:35 PM.
Page 5
    • Bellisima
    • By Bellisima 30th Nov 17, 10:04 AM
    • 69 Posts
    • 77 Thanks
    Bellisima
    Hello, I haven’t read all the comments as so many, but your tv package can be cancelled and subscribe to Now TV instead (owned by Sky anyway!). You pay a monthly amount starting at £7.99 a more month for Entertainment package. There is also a movie package for an extra amount and then, this will please your other half, there is a Sports package which can be rented by the day, the week or the month. There is no contract so you can leave and rejoin whenever you like. It will save you a fortune! We got rid of Sky years ago. If you want to PAUSE, RECORD, REWIND you need a Personal Recorder Box which cost about £150 but pays for itself in 3 months. I’m sorry to hear about your dilemma but you really have come to the right place. I hope all goes well for you.
    • Janice E
    • By Janice E 1st Dec 17, 8:47 AM
    • 1 Posts
    • 1 Thanks
    Janice E
    Don't worry get help
    Hi I feel your pain. I am in a similar position, although my husband is ill so it falls on my shoulders to earn more/spend less to clear the debt.
    My advice to you would be to set up a repayment plan. There are letters available on debt management sites for the wording. Write to each one. Make a budget plan, making them offers pro rata and asking them to freeze the interest. That way everything you pay will be clearing the debt.
    The downside is that there will be defaults on your credit score for 6 years so no more borrowing.
    This is what I have done and have found the credit cards/loan companies to be very understanding.
    We are clearing £3000 a year off our debt this way. Will probably take 8 years to clear it completely.
    Also sell everything you don't need. I made £1000 last year selling stuff on ebay.
    Good luck
    Janice E
    • gembo69
    • By gembo69 1st Dec 17, 3:06 PM
    • 40 Posts
    • 19 Thanks
    gembo69
    Hi I feel your pain. I am in a similar position, although my husband is ill so it falls on my shoulders to earn more/spend less to clear the debt.
    My advice to you would be to set up a repayment plan. There are letters available on debt management sites for the wording. Write to each one. Make a budget plan, making them offers pro rata and asking them to freeze the interest. That way everything you pay will be clearing the debt.
    The downside is that there will be defaults on your credit score for 6 years so no more borrowing.
    This is what I have done and have found the credit cards/loan companies to be very understanding.
    We are clearing £3000 a year off our debt this way. Will probably take 8 years to clear it completely.
    Also sell everything you don't need. I made £1000 last year selling stuff on ebay.
    Good luck
    Janice E
    Originally posted by Janice E
    Thanks Janice. So are you going through a company or just doing the payment plan yourself?
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