Under Pressure

davilown

Hi Jimmy,

Well done for posting and admitting that there's a problem. It took four years and my OH finding out for me to admit the problem, and three further years to clear it.
However, that was the hardest part, though it may not feel it at the moment.
Listen to those on here as they have helped many other become debt free and be able to live life again.
I know that persuading the kids to part with their luxuries is possible the hardest part - you just need to be honest with them and tell them there is no money to give. You may be surprised by their response.
There is a lot to be gained from sorting this situation out for you, not least of all regaining your own self-belief as you adapt to a new, and I personally think, better life style.

Triggles

Electricity/Gas 80/90 - this seems pretty high - can you bring it down by either less usage or changing the supplier?

Mobile phone 88 - wow, that is really high! Try to get it lowered, and if kids are old enough, they can work PT to pay for their own mobiles

Groceries 600 - this could probably realistically be cut in half! check the old style boards for help on that. Having a look at what you buy to see if it's lots of impulse buying, going down a level or two to the value/basic brands (which are generally pretty good), and meal planning can help a lot.

Clothing 120 - this is quite high as well - do you really spend this much on clothing every month? can you get by on 40-50 per month? Again, kids could help pay for their own if they can get a PT job

Presents 65 - this is fairly high - could probably be cut in half to be honest

You should also have some budgeted for emergency fund, life assurance, and most likely contents insurance.

I agree that a spending diary is a good idea so you can see if you have additional money being spent that you are not noticing (you would be amazed at how quickly it goes with a couple pounds here and a couple pounds there - I know we were!!!) Do your kids buy school lunches or bring packed lunches to school? What about miscellaneous school expenses?

Hopefully your OH will be able to secure a job, which will help you out immensely financially.

As far as the creditors go, they can't send bailiffs out for credit card/catalogue debt until after they've obtained a CCJ. I believe they can send "doorstep collectors" but you can head that off by sending the template letter basically telling them not to do that. I don't have that link but someone here will.

jimmy2bellies

Well since the last time i posted some of my Creditors have written back saying they will accept my offer of a lower repayment.However a couple of the others havent even acknowledged that i even sent a letter.Barclays have told me that they intend to visit me at home.Is it normal for them to do this? Im not sleeping very well because of my problems and have been to my GP who has started to treat me again for stress.I know people have tried to re-assure me but im so worried.Im hopeless with anything to do like this.I have tried going through the unenforceability section but dont really understand what to do or even how to do it.What does sign digitally mean for instance???.I told the children that we would be finding things difficult for a while and while they were fantastic and gave me hugs of re-assurance i know feel worse than ever.Im really worried about the future.

Mrs_Jojo

Jimmy, have you contacted one of the debt charities? They are really the best people to help you as they can contact all these companies with/for you and sort things out - they are there to help, make use of the help available!

climbintheladderouttadebt

Hi Jimmy,

Signing a letter digitally means typing your name, rather than signing it by hand. The companies that want money have been known to copy and paste your signature onto documents you may never have signed/seen.

Well done for all the steps you are taking! Any questions you have, just keep asking! I get so confused by terms, letters etc. but the people on here are AMAZING and the help and advice, as you've seen, will be invaluable.

I'll be watching this thread and supporting you all the way!