Created a disaster - please help

strugglingparent

I don't no where to start - im new and in major trouble!!

Firstly, im a single parent working fulltime and cant make my money work at all. Im pretty sure im depressed and just completely stressed out of my mind.

It all started before Christmas I took out a payday loan so I could lend my ex husband some money for a new car - my credit wasn't great so this seemed like the best option at the time. Anyway that started a spiral of payday loans. 3 to be exact rolling over each month taking all my wages and then taking out another loan so I could get by. It was the most stupid thing ive ever did and I knew that it would result in tears. But as I said ive been burying my head in the sand all year long due to my marriage breakdown and my determination to run so fast before I was walking again.

I cancelled two payday loans from my bank and now have them chasing me for cash. The other I decided to clear the last one and hope that someone would help me out for my priority expenditure this month - I was wrong! I made an awful mistake of assuming my ex husband would help out as I have did the same for him in the past. I have no one else I can turn to - I don't speak to my family because of the marriage breakdown and I am sitting penniless with no money, rents due on Friday, no bills have been paid this month and im absolutely sh***ing myself. I know that I got myself into this but im really confused as to what I can do. Ive listed a few items on ebay but im now im stuck!

I plan on going to citizens advice to seek help with my arrears and debts for everything first thing in the morning. But I really need to come up with £450 in my account by Friday. My lease is up at the end of this month and the last thing I want is to default on my rent or I will never be able to get another private let.

Fellow Mse's I hope you can make sense of this - my heads all over the place at the moment. Im in dire need of some advice. Please.x

strugglingparent

Income

Wages - £940 every month
Tax credits - £110 every week
Child benefit - £80 four weekly

= > £1460 per month
Priority outgoings

Rent - £450
Council Tax - £135
Electricity - £70
Tv Liscence - £12

total - £667

Amount owing

BT debt from years ago £400 - this has had an awful amount of interest and charges put on - I agreed to pay back £10 a month until I was in a better situation (more so mentally than financially)

HMRC overpayment from 2006 - amount left to pay - £100 - comes off at £19 per month (again not this month)
Quickquid - £700
Payday Uk - now with keyes whitlock collectors - £400

Virgin Mobile - £200 - should be £35 per month
Virgin Media - £210 - should be £55 per month
Been wreckless with these both and didnt pay last month nor this month

Total debt that I can think of (there could be another few that ive blocked out as my heads in bits) £1610

I know from my income I can do this - Every month I have great intentions of budgeting and end up jus being wreckless with my money. My daughters starting school also and needs a whole load of new things - Im starting to worry about that now - its only 2weeks away!!

Any advice is welcome! Id really really appreciate it!

Horace

Hi and welcome

Please use this calculator for your SOA and follow the instructions on there for MSE to copy and paste it here:

https://www.makesenseofcards.com/soacalc.html

Once we can see everything listed including the APRs on the loans etc we will be able to advise more. Have you thought of contacting a debt charity such as CCCS (details are in a sticky at the top of this board).

Does your ex husband contribute towards your daughter in any way? As for uniform for your child try looking on freecycle or ask the school if there are any 2nd hand uniforms to be had - you won't know until you ask.

Keeping a spending diary will help because you know where your money is going. Have you spoken to your landlord about the rent - if you get on well with him then ask him for a bit of space with regards to your rent, see if ex hubby will contribute as he needs to keep a roof over the head of his child.

Take a deep breath and get yourself a mug of tea and go through all your letters and see what is owed and to whom and put the APRs onto the SOA.

gargrave50

Great advice from Horace. Facing up to this is the only way forward and its really scary but will change your life forever.

You probably need to start budgeting properly - once you post your SOA we can probably give better advice.

First things first. You need to contact Virgin for both your debts, explain your situation and that you are currently in financial hardship, explain that you will be seeking advice and will write to them with a repayment proposal.

You would benefit from advice from CCCS or Payplan - both are FREE debt advice services. They can help you with budgeting and arranging to repay your debts at an affordable rate. Look forward to your SOA.

strugglingparent

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 948
Partners monthly income after tax....... 0
Benefits..ctc/wtc+childcare/childbenifit.563
Other income............................ 0
Total monthly income.................... 1511
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax and water rates............ 135
Electricity............................. 70
Telephone (land line)................... 18
Mobile phone............................ 36
TV Licence.............................. 12
Satellite/Cable TV...................... 18
Internet Services....................... 18
Groceries etc. ......................... 150
Clothing................................ 70
Other travel............................ 80
Childcare/nursery....................... 110
Other child related expenses 50
Presents (birthday, christmas etc)...... 20
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1257

Assets
Cash.................................... 27
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 27

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
quickquid......................700.......0.........2356
payday uk......................400.......0.........1737
BT.............................400.......10........0
virgin mobile..................200.......0.........0
virgin media...................210.......0.........0
HMRC...........................100.......19........0
Total unsecured debts..........2010......29........-

Monthly Budget Summary
Total monthly income.................... 1,511
Expenses (including HP & secured debts). 1,257
Available for debt repayments........... 254
Monthly UNsecured debt repayments....... 29
Amount left after debt repayments....... 225
Personal Balance Sheet Summary
Total assets (things you own)........... 27
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,010
Net Assets.............................. -1,983

pandaonmyshoulder

Not great at budgeting myself due to having 4 children but....

Council Tax seems high do you get a single person discount? and no water rates?
Do you get help for your childcare costs in with your tax credits? + £50 child related expenses?
Groceries seems a lot for 1 adult & 1 child.
Clothing £70 per month?

strugglingparent

Thank you Horace and Gargrave. No my ex doesnt pay child maintenance - ive had to borrow money from him before and hate having to ask. If my daughter needs something he will usually get it for example shoes - again only when asked though he does have proper contact with her. The CSA are involved (his choice not mine) but they are taking forever and ive lodged several complaints with them.

Looking at my SOA I can definitely do this but I do only have £27 on me and I only got paid the other day!! :S

strugglingparent

pandaonmyshoulder wrote: »

Council Tax seems high do you get a single person discount?

Hi Panda,

My water rates and that are included in this and the single discount has been applied.

tigzem

Do you get any help with your rent, housing benefit??

Am assuming not due to low...ish rent? May be worth asking them?

Is your ex able to pay you anything for maintenance until the CSA sort themselves out?

Stick around on here, the people are lovely and will offer lots of help... xx

pandaonmyshoulder

Will that be beautiful but chilly Scotland that you live then?

strugglingparent

tigzem wrote: »

Do you get any help with your rent, housing benefit??

Am assuming not due to low...ish rent? May be worth asking them?

Is your ex able to pay you anything for maintenance until the CSA sort themselves out?

Stick around on here, the people are lovely and will offer lots of help... xx

Hi Tigz, No I dont qualify for housing benefit or anything. Asking him for maintenance just results in major arguments and stresses me out more - resulting in me spending more arghhhh its a vicious nightmare!!! Im actually feeling more positive already and im having a look on the CCCS website - should I set this DMP up instead of going to citizens advice? Or should I go there too?