newbie looking for help please

emilytootle

Hi, i'm new to all this and never posted anything before about my personal life, its a little bit scary but from the posts I have been reading it seems like a fantastic place to find help and support from people in the same situation who seem to care and understand

hope i dont bore you too much though with my predicament.

Ive been a single mum for many years and work part time and Ive struggled with debt most of my life. Ive ran up credit card bills taken loans out etc for along time and Ive remortgaged my house 3 times now to keep paying these things off but I still keep coming back to using the credit cards and building alot of debt up again. I dont live an extravagant life at all, I just seem to struggle to pay my normal bills and have a night out now and again, Ive come to a point now though were I need to sort my finances out and stop getting into debt.

Because I work part time I recieve tax credits which help alot but unfortunately I need to earn more money without my tax credits been affected, working full time wouldnt be worth it for me right now whilst my son is in school as they would only take my credits off me so any advise on how to earn some extra pennies would be much apprectiated (Ive read threads on cashback/clicking but really dont know where to start with them so if someone could point me in the right direction I'll get looking into it)

Any other advice on the governments debt help were they freeze your interest on credit cards would be of great help too, Im contemplating on going down this road but it scares me as Ive heard the companies that handle your cases can be a nightmare and also your credit rating goes to zero which scares me too, I pay all my bills each month and not defaulted (i manage to pay them because I use my credit cards to pay for food/clothes/car etc) so is it worth doing this or just struggle on trying to pay make a minimum payment on my cc's over many years? sorry if I have gone on Im just at a very desperate point right now and dont know which way to turn
Many thanks

Tixy

Hi emily and welcome to MSE - sorry you haven't had a reply before, hope you are still reading.

What I would advise first is that you write out a detailed financial statement of affairs to work out exactly your current financial position (its like a monthly budget) use this link for a good calculator as it makes sure you remember everything even those items you don't pay monthly - http://www.makesenseofcards.com/soacalc.html

When you have completed it you should be able to see whether you are spending more every month than you have coming in and if so you need to look at whether there are areas you can cut back. If you post the SoA on here people are really good at giving an unbiased opinion and suggestions on your options. And making sure you tackle your debts in the correct priority (secured debts and priority costs before unsecured debt repayments) .To post it on here click format for MSE and then follow the instructions given - you will need to delete the web address at the bottom of your SoA post before it will allow you to post on to here.

Then if you still can't meet your monthly repayments on your debts you need to take advice from one of these organisations http://www.moneysavingexpert.com/loans/debt-help-plan#help rather than a commercial company that will charge you fees.

Hope this helps and Good luck

Nargleblast

Hello emily, nice to have you on board the good ship DFW!

You are not the only one with debt issues, everyone on here is either in debt, or has been in debt, or is trying to avoid getting into debt! Consequently some of the advice you will get will be based on people's personal experiences, others are experts in certain fields because of their jobs, so you have a good support network here. And you don't have to reveal more personal information than you are comfortable with. Certainly do not name names or places, no information that gives away your true identity. Right, that's the welcome bit and safety lecture over.

Now is the time to get rid of your credit cards for once and for all. Like you, I relied on cards. Like you, I extended loans. Like you, I thought I was ok making minimum repayments on the cards. But you get to the point where you have no more credit left, and the banks and card companies refuse to increase your limits. Then you are really in the brown stuff. So, cut up those cards. Follow Tixy's advice and post a statement of affairs. Then sit back and watch the ideas and suggestions flow in.

emilytootle

Many thanks for your replies, I was very nervous about posting but to get something back from you and your advise has already been well worth it, I really appreciate the support. Everyone seems really friendly on here and its great that ppl can share their experiences and knowledge to help others, I think its great

I will fill out an SoA as soon as possible and once i have picked myself up off the floor after realising the proper state of my affairs I will post it on here. i guess the facing upto it is the hardest step but i know i cant keep burying my head in the sand.

I have cut up 2 credit cards this week already and it feels good to do that, i'm working on the other 2 i still have! I think it may take me afew days or even weeks to get my head round everything and all the things I need to do but I do think I will get there, Ive made a start and I'll keep posting so many thanks to you for your help so far :j

Nargleblast

Good luck emily - I've subscribed to your thread so will be around to keep nagging you!

Numpty_Monkey

Hi emily:hello:

Well done on cutting the cards up:T

Don't worry about falling on the floor I think we've all done it
and sometimes not due to a cheeky shandy or several:whistle:

Once you get the details of your debts you and us know what we are dealling with
Have a look on the October Make £10 extra a day challenge
some ideas on making a few extra quid:D I won't tell the taxman if you don't
but he might findout if you keep the same user name:cool:
If i was you I would re-registar under a silly name like most of us have

emilytootle

many thanks for all your support, I tried to put a reply on last night but for some reason its not come up so i hope im not repeating myself here. thankyou nargleblast and numpty monkey for your replies, i will keep posting and be greatful for any nagging.I'll look into the £10/day challange, i already have some ideas so fingers crossed they work, emilytootle is my nickname only used by afew ppl so hopefully i'll be ok with that name? thankyou again, its such a scary time right now but its great to have the help and advise and support from you

LandyAndy

emilytootle wrote: »

I will fill out an SoA as soon as possible and once i have picked myself up off the floor after realising the proper state of my affairs I will post it on here. i guess the facing upto it is the hardest step but i know i cant keep burying my head in the sand.

You are absolutely right.

Admitting the problem is not only the most difficult bit but also the most important bit.

Now you can tell us there is a problem you can also tell us how big it is by posting an SoA.

You won't always get answers you like (particularly from me:o as some people think I am a bit abrupt:rolleyes:) but you will always get answers designed to help you.

It is, however, impossible to offer any real help without an SoA so please post one ASAP.

Good luck

LA

Lula-Hula

Hello & welcome to DFW,

see you 've already had some great advice & just wanted to say that you will get loads of help & support here, & hopefully a bit of un too, everyone is very friendly & in time it will become a part of your life & you will almost forget why you log on every night ... or is it just me that forgets that I'm here to clear my debts


There are a few of us single ladies here, in fact the fabulous sarahb123, started up a thread dedicated to us. Not all have children but we do like to chat, have a glass of wine or two & some chocolate.

I'm in a similar situation as yourself & do plenty of surveys to help with buying stuff. The sites I would recommend are www.ipsosinteractive , www.lightspeedpanel, www.yougov.co.uk & www.pineconeresearch

You will be amazed at just how much of your outgoing you can cut down on once the guys here have suggested stuff. The money saving old style board is equally friendly & have marvellous ways to stretch your income - and your wasitline too if you're not very careful

Need to go to bed now but well done for taking the steps, it is scary & you are no longer alone with it all. will also subscribe so I can see how you're doing

take care & big hugs

lula
xx

emilytootle

Thanks LandAndy, I will get one posted in the next couple of days as I have a couple of days off work now and can begin to make a proper start on it all.
I can understand there arnt always answers but advise (even if abrupt) can help alot.
thanks for your post

emilytootle

thankyou for replying Lula-Hula, its good to know there are other single ppl out there too and i will look out for any threads to maybe join in and have a chat along with a glass or 3 of wine!?

it seems like a wonderful site with so many great ppl and i can imagine it becomes very addictive once you get into it all, Im actually looking forward to doing something positive about my situation and this is probably the best place to be to do that.

Ive looked into some sites for making money like you have suggested, i joined one tonight (yougov) so thats a start at doing something positive, there just seems to be so many things to look into and think about but Im sure things will all fall into place and start making sense soon, hopefully!

I'll not go on too much as your probably asleep now,lol, i should perhaps try and do the same.

looking forward to hearing from you and everyone thats been so helpfull

night night
Emily xx