Please help someone

dancingfairy

Your child is obviously quite young and needs you love and time rather than fancy gifts. I'm sure she will love whatever you've bought her. She certainly isn't going to know whether it's second hand (I doubt she even knows the word - Lol. )
df

RAS

Hi

I have to go but wanted to point you here http://www.moneysavingexpert.com/loans/debt-help-plan#help


Re the PPI, there is a whole forum on reclaiming on here http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=169 where there wioll be peiopole who can help you. Bear in mind that the OFT has said that most PPI was wrongly sold and if you were self employed at the time, you were definately mis-sold.

Do you have the consumer credit agreements for your cards and were they taken out before April 2007? if they are unenforceable then even if you paid less each month, you would still be able to stop any court action aGAINST YOU. mAKES A MESS OF YOUR CREDIT RATING FOR A FEW YEARS BUT... In fact, you do not actually have to pay them back at all.

So see if you can find any old paperowrk this weekend and then we can tell you what the score is.

And yes, the debt charities can help you negoitiate lower payments and the creditors will accept it. You may need help preventing them going for CCjs but it is a possibility. The creditors cannot take your home.

What I would suggest is that you take it easy this weekend and read up the debt charities web-sites. Have a read of the reclaim forum and money saving old style as well.

There are ways of sorting this out.

theoretica

Have you read this page http://www.moneysavingexpert.com/loans/debt-help-plan ?

It might be worth talking to your mortgage provider- if you could change from having both a mortgage and a secured loan to just having a mortgage (for both) it might save you money each month. Don't feel you need to make up your mind there and then, the idea is to ask what they can offer and take away the information to think about it- or ask on here. The disadvantage of doing this is it would probably mean you spent longer paying off your secured loan and pay more interest in total, but if you are less stressed every month it would be worth it.

GeorgeUK

If you have not yet missed payments, then you are doing incredibly well. Missing payments is not the end of the world - it just means that getting credit in the near future will be more difficult. Having a job that is purely commission based is not good though.

Right now you need to make sure that all the priority debts are met. This would be the mortgage, secured loan, HP, utilities, food and clothing. These are the bare essentials that you require and from what you have posted, you can cover these. The non-secured debts such as the credit cards should only be considered after the priorities have been met.

Some of the things i'm going to put will already have been covered and answered by you, so please don't think i've not read the posts - it's just easier to note something down that may be helpful when i see it.

Council tax............................. 82
Are you paying over 10 months? Can you ask to pay over 12?
Does this include single persons living allowance?
Are you in the correct council tax banding?

Electricity............................. 21
Gas..................................... 21
Check the meters and make sure the companies have the correct readings. If you are in credit, you can ask for the money back. Also look at the comparison sites to see if you can get a better deal.

Water rates............................. 20
Is this metered? Do you use a water hippo/similar to use less water?

Mobile phone............................ 25
PAYG? Can you move to a cheaper tariff?

Telephone (land line)................... 20
Internet Services....................... 15
Are these a package deal?

Groceries etc. ......................... 200
Have a look at mealplans on the old style board and cooking from scratch. Can you take a packed lunch to work?

Clothing................................ 0
Need something in here.

Childcare/nursery....................... 160
Are you getting vouchers for this from your employer?

Buildings insurance..................... 6.25
Contents insurance...................... 5.65
Life assurance ......................... 6
Again, check the comparison sites like uswitch and moneysupermarket for the best offers. Use Cashback sites when switching to get even more savings.

Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Emergency fund.......................... 0
Need something in here

I agree that you should be looking into whether the PPI was missold. This gives you a good idea of how this may have happened and how to get it sorted. http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

I agree with Tixy that any possible savings you can make will not be enough to cover the shortfall. It looks like it is very close though. How have you been able to keep up the payments so far?

I have not looked into the up-your-income thread for quite a while but you may be able to do daily clickt to get vouchers or do online surveys. Definately worth looking into but will not be like getting an extra wage.

If you are unable to keep up the minimum payments, do not worry about losing you house or your daughter. Getting into debt is not a crime. If you go into a Debt Management Plan (DMP), you creditors (for the unsecured debts) will simply be getting less each month than the minimum they want. This will probably lead to defaults being put on your credit file, but these will disappear after 6 years. With the defaults, it will be harder to get credit, but that is not something you will be wanting for a while anyway.

The CCA and unenforcability is sometimes recommended to those who have missed payments and may be threatened with court action. In short, there is legislation which states that credit agreements entered into before 6th April 2007 must have certain terms in them. If these terms are not there then the debt may be unenforcable. This would mean that even if they tried to go to court, the legislation states that a judge must not enforce the agreement. If you did go down this route, you would stop paying towards the debts and they would probably issue defaults - if you already have defaults for those debts though then there's nothing they can really do.

While your SOA is quite lean, this should only be for your actual expenditure. When it comes to making an expenditure/budget sheet for the creditors to look at you can beef it up a little - there is also guidance as to the amounts you may be able to use on the Payplan/CCCS site (can't remember which one).

dumpy

Thinking about the school gate comments, can you get your daughter to make a card for her teacher or write a thank you note, talking about some of the things she has done this year?

As an ex teacher, something personal like this is worth so much more than a shop card.

Hugs

JennyBennyBird

I have read your postings and feel very impressed at what YOU HAVE ACHIEVED. Buying own house, raising child on your own, keeping your head above water. BE PROUD OF YOURSELF. So far so good.

Just wanted to add to what these people have said here, things will get better. I also was on my own, but no child, but after being left by partner, had to cope alone with debt and rent etc. Luckily now have turned a corner, but never had any money for food, used to eat blackberries off the hedges down the road. I lived on cheese and ham toasties for nearly a year, and half-priced soup in reduced aisles at supermarkets. Bread reduced to 60 pence per loaf, cheese and ham reduced........I lost 3 stone which I could afford to do. Point is I now have paid off a lot of debt and things are better. Be proud of WHAT YOU HAVE ALREADY ACHIEVED.

I also sell things on Ebay, and go down the local tip most days to see what I can scavenge for nothing and sell on.......... It is a learning curve. We are all with you. Keep your chip up and just take it a day at a time......GOD BLESS. xxxx lots of love to you and your girl.

RuthnJasper

Hello Miserablemum,

I'm so sorry to read of your troubles. You have definitely come to the right place - everyone one here is lovely and very helpful.

I'm afraid I can't really offer any specific advice as to your finances, as your situation is different to my own. BUT, a couple of years ago, I was in a very similar position to you and I wanted to reassure you that you have now taken the first difficult step, which is to turn around, admit that you have a problem and get appropriate help to sort it out. I can promise you that you will NOT always feel as wretched as you do now.

A few years ago, I had an awful moment of realisation when I faced up to the fact that I had been acting really unwisely and only had £10 left after my basic debts/loans payments each month. I felt utterly sick. I was 30, still living with my parents (who are missionaries and couldn't help me out financially) and in a right old state. I made three serious attempts to take my own life, coming very close to succeeding on two of those occasions.:(

Like you with your daughter, I know that if it wasn't for the support and love of my dog (I'm not a nutjob; he really was there for me - it even says so in my medical records.;)) I certainly wouldn't be here today. These days, I have an IVA (still two years to go on that) and the dog and I live in a lovely little housing association property in our home town (we were on the affordable housing list for over six years, but it was worth the stressful wait). I am by no means completely recovered, health-wise OR money-wise, but I can honestly say that it has been many, many years since I felt so secure and happy.

As I believe someone has already posted above - please do go and see your GP. Book a double appointment. The doctor is there for more than just colds and sprains. The next few months might be a bit tough, so you need all the support available. Also, if possible, make an appointment to see a financial advisor at your local Citizens' Advice Bureau - it's free. It was through them that I got my IVA sorted out and they can offer lots of practical advice and support (I wasn't aware of MSE at the time!).

The issues you are facing do seem overwhelming, I know, and I have felt the full, suffocating weight of the problems that are piling up on you. But you WILL come out on the other side of this and, one day, look back on it all. You may even feel (at least, I do) better in the future for having had the strength and courage to deal with these struggles. And at the very end of the day, money is money - there are no pockets in shrouds, as they say, and no-one is going to come and kill you over these debts. You will be alright.

You sound like a nice, caring, responsible mother. I'm not fortunate to have been blessed with a husband or child (yet!), but I have nothing but admiration for you - raising a child alone is a difficult enough task, quite apart from any other worries you may have. Your daughter (who sounds like a real little gem, bringing you water and a tissue!:)) is lucky to have a mum who loves her so much - she obviously loves you very much and I know that you can face this together. Love, honest chats, and cuddles cost nothing.

I wish you all the very, very best as you take these first steps towards a new, debt-free future. I'm sorry that I cannot offer specific financial advice for the mechanics of your situation. But I DO know, so well, how you are feeling. Please know that you are NOT alone, you are doing exactly the right things and, though it doesn't seem like it at the moment, you WILL come through this.

Please keep the board updated with your progress - we are all rooting for you. If you need to sound off, or need advice of a non-financial-specific nature, please feel free to PM me - I'm always happy to offer help and advice based on my own experiences, or even just a sympathetic 'ear'.

Good luck sweetie. Much love - Jasper (dog) sends many wags of his tail to you and your little girl.:) Look after yourself - you are too special a person to give it all up to the back end of a lorry.

x

JennyBennyBird

Oh and pot to the ones who say things at the schoolgates, just send the schoolteacher a card even made by your daughter.......all the best.xx

gratefulforhelp_2

dumpy is spot on there.


Just wanted to say hugs, and how well you are doing. I know how scary debt/single parent can be, please ring samaritans when you need to and take strength that there are lots of clever people here who will help you sort this out.

Cuddle that girl and you will know how she needs you to be happy and relaxed. You will be again.

ruthnjasper not silly at all. Dog stopped me doing myself in, too.

JennyBennyBird

I dont advocate living on reduced food from supermarkets etc or fruit from hedges but you know what I meant. Please find nutritional recipes for you and your girl. Ask your Mum she will help I am sure.

By the way keep your chin up not your chip as I put in one previous posting. LOL xx