Struggling!

shinymac

I am a mother of twin girls. Me and my partner are in a bit of trouble financially and I don't know what we can do to sort it out.
We are never in credit on our bank account, and we have both just started new jobs, meaning our first pay days are not until the 1st and the 15th November. However, we have only £100 left of our overdraft in our account, and all sorts of bills and expenses due to come out during October, yet no money to cover any of it!
We've already borrowed £300 from parents to pay after-school fees to allow me to start my new full time job, which is only on a 6 month fixed-term basis. Our account is in a state, and HSBC do nothing but charge us anything from £100 - £200 a month for going slightly over our overdraft - £125 is due to go out on 10th of October. They won't extend our overdraft beyond the £1650 it is currently sitting at yet they'll allow payments to go out and charge us for the privelege!
I've thought about applying for a loan to tide us over, but we already have 2 loans which we are paying off, and this is more monthly expense which we cannot afford.
I've thought about getting a different bank account with a larger overdraft to tide us over.
I just don't know what the best solution to this is. No matter what I ask of the bank, they turn it down, continue to charge us and continue to try and sell me flexi-loans or other loans or credit cards, which ideally, I would like to avoid if possible!
It's really stressing me out!
Any ideas?
Thanks!

Miss_Piggy_2

Firstly, don't panic.

Secondly, why not post a full SOA (some nice peep will post the link I'm sure). That way we can all have a look and see if theres anything we can suggest.

Thirdly, why not get in touch with the CCCS (consumer credit counselling service). They are charity run so offer objective and practical advice. Their website also has a little form you can fill in and it will tell you best courses of action.

Good luck and hope you get some helpful replies

Miss P
xx

MrsTinks

Don't take out more credit - apart from the fact you'll probably get refused as you are consistently over your overdraft then it's not addressing the cause of the problem.
Start with doing an SOA so we can see what is what.
To get cash to help tie you over get Ebaying - all the baby stuff you don't need or stuff that is hiding in the loft needs to get listed - no matter how "minor" it seems... List it - every little bit adds up. The priorities between now and pay day is food and fuel to get you to work. work out how much you need for this and take it out of the bank if you can. Once we have the SOA we can have a look at what can be done to improve things.

RAS

The other options are amazon - for CDs you no longer isten to and car boot sales, that put money direct into your hand.

Horace

Here is the link for the SOA https://www.makesenseofcards.com/soacalc.html - there is a button on there called MSE which will format the SOA to allow it to be posted on this forum.

CCCS_Matthew

Hi there,

I would certainly suggest opening a basic bank account where your have no financial ties, as it's the first step to getting back in control with your finances. I'd suggest a basic account, as the bank will not require to credit check you in order to open the account.

You could also try using Debt Remedy. It will assist you in completing a financial statement and you would be provided with tailored advice on the best way to deal with your situation. Click here to go directly to Debt Remedy.

Regards,
CCCS