I am completely lost. No money what so ever (and today was pay day!)

MeandtheLilUn

Hi, it's been a while since I posted on here... so I think an update is about due!

Today I received an even lower wage on SSP, which isn't entirely surprising, yet another hurdle to cross, the pay was only £368.40, so now I have to find a way to find even more as this is now nearly £700 short of my usual wage. Not something anyone wants so close to Christmas! Aside from being so much less from my wages, I have automatically lost £192.18 by being so severely overdrawn. I've got bank charges going out of £25, and I'm expecting HUGE amounts for this month as I was over my overdraft limit from the 9th (11 payments @ £25 each + interest).

I've been through the CCCS program and sent the letters to creditors, as well as a cheque with the token payment... they pointed out my budget was worse than I originally thought! :-( (That was a major blow, to say the least!) I'm now waiting for responses from my creditors to tell me whether or not they will accept the payments.

As well as responses from creditors I am still waiting for a response from Housing/Council Tax benefit - They're telling me it will be a minimum of 8 weeks before a response (so another 2 months of paying £475 rent, as I still can't get in touch with my landlady, and explain anything to her) And I now owe nursery over £1k!

But, despite all of this my doctor has said my depression is getting better, yet he has decided to keep me off work until the new year, so I don't completely lose the plot over Christmas/New Year. And he is in talks with the healthcare company my employer referred me to in order to try and help me out some more, whether that is asking my employers for more flexible working arrangements, counseling, or whatever docs come up with. He still wants me to carry on with my meds though (hardly surprising - they're probably what's helping me keep my head above water through all this at the moment)

MeandtheLilUn

Hi, I just want to throw the idea around... I've already started sending out the letters as recommended by CCCS to my creditors, but I've worked it out that if I follow this I am likely to never get out of debt... and that thought scares the life outta me... I can't imagine anything happening, and that being left over for other people to deal with on my behalf!!

I spoke to a financial advisor earlier today, and she asked if I had thought about declaring myself bankrupt. To be honest, I hadn't, but the more I think of it the more it seems to make sense to me. My Nanna declared herself bankrupt over 20 years ago when her marriage failed, and she lost her business,and she says its something she has never looked back on and regretted. I know some people might see this as me wanting to take the 'easy way out' and believe me when I say I don't!! But I can't go on living with the 10k shadow over my head, knowing that it is affecting me, and inadvertently affecting my little girl.

I just wonder if it will be the right thing for me to do... I really am lost... again!

Thanks,
Me xx

RAS

Is this a charity finaicnal advisor?

Not quite sure from the SAo eactly how much you owe but if it is under £15,000 then a DRO (bankruptcy for people with low debts and very little money or assets) might work instead of full BR.

Why not talk to the folks on the BR forum and check out the DRO stickie at the top of the page?

MeandtheLilUn

Hi Ras, thanks for the recommendation, but I don't think I will qualify for a BRO.

The person who mentioned it was a bank advisor. I went with my friend while she went for a meeting about setting up her own business, and as we were talking to the financial advisor my current situation came to light (ridiculously skint, not made any better by being signed off work and on SSP) She worked out that finances are one of the primary reasons why I am 'ill' (It was never actually said that I was off work with depression/insomnia/stress - but then again, there's obviously nothing wrong with me physically). AND it's not someone from my bank... so I trust her a little better.

I think from here it might be best for me to speak to someone from CCCS/CAB and possibly the same person who mentioned it originally. I'm already looking into the options/consequences etc. I'm going to weigh it all up properly and get as much advice about this as I can before I make my decision.

Thanks
Me x