Ive had my lightbulb moment :(

NGlady

Hi all, Well i've well and truely had my lightbulb moment. It may not seem high debts compaired to some i've seen on here, but as im not working at the moment (not for the want of trying to find a job i may add) I have had a very rude awakening this morning. Being out of work for the past year, I've had to alas do something very stupid, i've been paying minimum payments on one credit card and using that money to pay things, such as my phone bill

My main debts are

• Virgin £299
• Halifax £1,381.35
• Oasis Store card = £10
• Additions = £20
• 02 - £31,25 - I rang 02 yesterday and was put onto the lowest cost rolling deal possible.

Pointers are
Up until last month my minimum payment with halifax was £23 - I have recieved a statement today saying it is now £47.85 - money I don't have

If I could get onto a interest free/low interest (Im paying approx £30 per month interest at the moment) I could strive to get this paid off during the interest free period.

I am due to start recieving housing benefit, but I havnt a clue when this is going to kick in

I am really quite scared of this, when i was in work all of this was really managable, and if I was working I could cover these debts in 5 months

pania

Hiya hon and welldone for taking the first step and posting here. you are in the best place and can and will get there with a little focus. The first thing that you need to do is to pop us up an SOA which is basically what you have going in and what you have going out. This will help us to identify any areas where you can make savings. There are so many ways that you can get this sorted that I am sure we can get you straight in no time
have a look at www.makesenseofcards.com/soacalculator and pop that up once complete. It may be scary for you to do this but its the best starting point for you.
Also can you expand a little on the work scenario. what have you done in the past and what sort of work are you looking for now? I was redundant last year and it is a scary place to be. There are many websites and recruitment agencies that users here are able to suggest that may have been where you are now.
Big hugs, make a cuppa, then get cracking!! much love. P xx

Horace

Hi and welcome to the forum. It will help us greatly if you post your full SOA (statement of affairs) here so that we can advise more fully. https://www.makesenseofcards.com/soacalc.html - follow the instructions to copy and paste to MSE.

leanne82duke

how is your credit rating? is it possible for you to get a 0% card?

NGlady

I was declined for a vodaphone contract in January so im guessing it isnt great :S I dont really have an soa, but i shall work at putting the best one i can together.

savingmummy

NGlady wrote: »

My main debts are

• Virgin £299
• Halifax £1,381.35
• Oasis Store card = £10 this is low so throw a tenner at this (empty piggybank and raid empty bags/drawers) and get rid! cut up store card!!
• Additions = £20 again nice small debt get rid then cancel/close account
• 02 - £31,25 - I rang 02 yesterday and was put onto the lowest cost rolling deal possible.:T well done!!

When does the contract end?? when it ends ditch this and go payg!!


I am due to start recieving housing benefit, but I havnt a clue when this is going to kick in

chase this up!!

I am really quite scared of this, when i was in work all of this was really managable, and if I was working I could cover these debts in 5 months

Well done for posting and asking for help!!!
Are there any small jobs local to you albeit cleaning, stacking shelves or washing up in a kitchen??
Round our way there are always nursing homes looking for kitchen help/cleaners. Mcdonalds/co-op always need staff - not everyones cup of tea but in an emergency it helps out!

Do you have anything you can sell on ebay?

Are you managing to pay your rent, council tax and home bills??

savingmummy

NGlady wrote: »

I was declined for a vodaphone contract in January so im guessing it isnt great :S I dont really have an soa, but i shall work at putting the best one i can together.

http://www.makesenseofcards.com/soacalc.html
Put in all your MONTHLY incomings and outgoings ensure it is accurate x

NGlady

To be honest in regards to the housing. I am struggling, but im ok as I know i have the housing coming soon.

I am going to take the can opener to my money can shortly and see how i can pay a couple of the small things off. With 02 -im actually on ~£20 per month, the £31 is just whats outstanding for last month.

pania

Creating an SOA really is the best way that you can get a handle on things. utilise your bank statements if necessary to see where that money is going x