Newbie....single parent with almost £15,000 debt..please help!!

Goldie12

First time on here, so not sure what to expect. Due to divorce,i have got myself in a pickle to day the least!

I am up to my eyes in debt if im honest. I owe approx £12,000 on various credit
cards, plus remainders of loans, store cards, overdraft etc. Im probably over £15,000 if i add it all up. I dont want to go bankrupt, or do the IVA route.
I dont know what to do anymore. I can just about pay the minimum payment each month, i'm constantly overdrawn. ive tried to transfer to interest free credit card (some of the debt, not all of it) but have been refused (Virgin)

Any one any ideas? I am possiby gonna be living with my new boyfriend this year and i would be horrified if he found out my predicament as he has his own business. I dont want anything to drag him down with me!! I do work and receive benefits to top up my wage. I cant work any more hours as i have two young daughters to care for and when i did try and earn more, the tax credit deducted it the following year, so i was back to square on!!

I really could do with advice, or someone in the same boat who at least understands!! i cannot ever imagine even making a dent in my debts.
Thank you for reading this.

JA1000

Sorry but you have to tell him, what if he is able to help if only with ideas and reduce the pressure of you having to spend. It would be worse if he left because you hadn't told him.

What if it was the other way round?

You need to list a full SOA and the help / ideas will come flooding in.

KPR11

Hi Goldie,

I suggest you post a full statement of affairs (SOA) on here (using: http://www.makesenseofcards.com/soacalc.html) and I sure people will be able to point you in the right direction once they know your ins and outs.

Once you post your SOA, people will be able to tell you how to make cuts / savings and / or increase your income or just give you tips on how to proceed.

Hope it helps.

KPR

Tixy

Hi Goldie and welcome to MSE

As a first piece of advice I'd suggest you write out a monthly buget/statement of affairs using this link - http://www.makesenseofcards.com/soacalc.html
and then post the results on here. This will tell both you and us the full extent of your debts and where your money is going each month.

Then we will see what we can advise for you.

Good luck and again welcome on board and well done for joining and asking for help.

Snaggles

Hiya, welcome.

If you can just about make the monthly minimums then it's very unlikely you will need to go down the IVA route.

As mentioned above, pop your SOA on here and we can help you look for savings you could make to ease the pressure and enable you to start paying a bit more towards them.

saxysarah

Hiya i'm also a single mum and have about 20k debt on loans/ccs plus a mortgage - I have found the advice on here invaluable - I even discovered I was exempt from council tax as although I work I am also a full time student and that alone has saved me £80 a month ;-)
you will get lots of tips if you post your full SOA plus if you join some of the challenges etc you will find them a great incentive for getting onto ebay etc and different ways to earn some extra cash! you'll soon become totally addicted to money saving.

welcome aboard nd good luck!

never-in-doubt

now what I want to know is why you're a single mum, sexy sarah :whistle::whistle::whistle:

Are all sarah's sexy? I've yet to see an ugly sarah thinking about it - right grab your jacket love, you've pulled! :rotfl: :rotfl:





* Sorry guys, had to digress slightly - and yes I know it says saxy and not sexy but i'm dislecksick :think:

aaronm_2

Don't be silly and you should tell him. You think keep him away from this is good for him or due to some other reasons. But in my opinion, you'd better let him know this and share the pressure with you.

saxysarah

:rotfl:cheers for that! Never in Doubt! thats made my day:rotfl:


although note the tag is sAxy:D but I have been told...............often......................:D

and before I grab my coat just to let you know I have FIVE DKs plus 2 dogs and 2 cats!!!!!:D

I'm single mostly cos I am RUBBISH at picking men lol but I do have a lovely B/F atm who lives 100 miles away and visits on W/ends - which suits me fine:rotfl:

never-in-doubt

saxysarah wrote: »

:rotfl:cheers for that! Never in Doubt! thats made my day:rotfl:


although note the tag is sAxy:D but I have been told...............often......................:D

and before I grab my coat just to let you know I have FIVE DKs plus 2 dogs and 2 cats!!!!!:D

I'm single mostly cos I am RUBBISH at picking men lol but I do have a lovely B/F atm who lives 100 miles away and visits on W/ends - which suits me fine:rotfl:

See - now that's a start (made your day already, and that is without even trying)! :rotfl:

Sorry, I need to ask what is DK's - is it dearest kids?

I didn't think it was the ladies job to *pick up men*

saxysarah

never-in-doubt wrote: »

See - now that's a start (made your day already, and that is without even trying)! :rotfl:

Sorry, I need to ask what is DK's - is it dearest kids?

I didn't think it was the ladies job to *pick up men*

LMAO:D

dearest kids/dastardly kids - depends on the day really:rotfl:

didn't so much pick them up as accidently fall into convenient relationships without noticing - very careless of me I know will have to watch where I walk in future!