Newbie would like to say Hi!

geranium72

Welcome and don't panic

Look at my sig - we are also in a similar position with high debt but just about keeping heads above water but by signing up to a few challenges and starting to think about how we can save we are now finally starting to clear the debt

You will feel much better once you start the process and there is so much helpful advice on here

for instance I made an extra £300 last month just from things like cashback, points, shopping coupons and bargains, surveys and mystery shopping

You can do it and the support here is phenomenal

Good luck xx

MissOptimistic

Hi everyone - thank you for your replies.
In answer to a few of your questions - No I don't pay my credit cards in full each month, what I meant was that I always pay at least the minimum payment and have never missed a payment or paid late, suffice to say, I have had to 'rob peter to pay paul' on many occassions.
I can't really get a second job as I own my own shop - If I got another job, I would have to close the shop, which wouldn't make much sense as the shop earns quite a good income. I wouldn't be able to manage nights as I have 3 children.
I have as much of the debt as possible at 0%, but one of the big ones, Virgin, runs out in March - there is a £13,000 balance on that one - because we have so much credit, it is unlikely we would be able to get any more.
We do have a room we can rent out, and are currently looking into that.
Thanks for all your help and suggestions, I am feeling much more like my name today (optimistic!)

claireabelle_2

glad you're feeling better!
It's true that once you face up to your debts, you can start managing and controlling them, rather than the other way around... Or i like to think that's the case, anyway
nowadays I look forward to paydays for the payments coming off the debts rather than for spending - none so dedicated as the converted (or something!)
keep going mate :A you'll be fine!

Airwolf1

MissOptimistic wrote: »

Hi everyone - thank you for your replies.
In answer to a few of your questions - No I don't pay my credit cards in full each month, what I meant was that I always pay at least the minimum payment and have never missed a payment or paid late, suffice to say, I have had to 'rob peter to pay paul' on many occassions.
I can't really get a second job as I own my own shop - If I got another job, I would have to close the shop, which wouldn't make much sense as the shop earns quite a good income. I wouldn't be able to manage nights as I have 3 children.
I have as much of the debt as possible at 0%, but one of the big ones, Virgin, runs out in March - there is a £13,000 balance on that one - because we have so much credit, it is unlikely we would be able to get any more.
We do have a room we can rent out, and are currently looking into that.
Thanks for all your help and suggestions, I am feeling much more like my name today (optimistic!)

What is your Rateable Value? Can you claim small business rates relief?

Airwolf1

That is assuming you only have the one shop. What is your annual rent compared to your Rateable Value?

MissOptimistic

Hi Thanks Airwolf
I already have the small business rates relief, the shop is very small and the rates were supposed to be about £130 per month, I now pay only £66 rates (you don't get anything for that though - even refuse collection is an extra cost)

Today I arrived at work to find that half the ceiling had fallen down, I had been telling the landllord for a while that when it rained water was coming in (although it had only been a bit) - Last nights rainfall was the straw that broke the camels back - It was a right mess, rubble all over the floor and quite a bit of stuff damaged.
After a few tears, managed to get the landlord there (who is about 108 years old) who basically just can't be bothered with it - he had no sense of urgency about him despite me saying that this is my livelihood.
He will have to get the roof fixed and i will have to claim on my insurance for the internal work

It never rains when it pours (or however the saying goes!)

dancingfairy

oh crumbs - can't help with the ceiling issue I'm afraid. Have you tried keeping a spending diary to see where your money is going?
Have you considered a dmp?
Have you worked out an average of your income and looked at that against your regular expenses? If your debt is growing - something is going wrong somewhere - either you are not making as much as you think or you are spending more than you think or something.
Is the debt yours or business?
I would check out the insurance board or the small business board as well for some suggestions.
Good Luck sorting everything out
df x

wedgie_2

Welcome Miss Optimistic
Please know that you are not alone and everyone has a story to tell. My lightbulb moment came last May where the realisation of our situation hit and I was sick with worry. I am now in an IVA and my wife is following a dmp both set up with the help of CCCS. (my wife is self employed and owns a shop too)
The support and help the CCCS gave us has been life changing and the whole thing not only seems manageable but is.
It would be impossible to give you any specific advice but what I am trying to say is that there are some brilliant people out there and most of them use this forum. Detail your situation and let them help you.
I realy hope you can get some solid advise soon to lift your spirits and enjoy your life with your family again.
take care