Taking from peter to pay paul.

The_Life_Plan

It's over three years now since I split with my ex husband, it took me years of going to court to finally have the deeds to my home in my name with his name still on the mortgage and secured loan until I could indemnify him. I have lived on savings until recently with the help of credit cards and benefits as I have bi-polar disorder and claim DLA, I now have just about maxed on cards, cannot remortgage because I am on benefits, and am worried about where the next months payments are coming from. I found this site yesterday which is when you could say I had my lightbulb moment, I have tried moving balances from cards but have been refused. I am not in arrears with anything at the moment, but know I will be soon if I dont do something.
I am a single mum, three of my children are over 18, one of whom lives with me, will not go back to college, so my benefits will now drop this month. I also have a 6 year old son with me. I really dont want to fall behind with any debts. Any suggestions please. I think I posted my soa in the wrong place, it can be seen by scrolling down from my entry, sorry, but I am learning. any tips.

GreyPilgrim

Hi there, welcome to the site. One of the first things you should do is post your statement of affairs (all outgoings and income), and then the gang will get to work with some good advice.

In regard to the "18 year old who will not go to college", can you go into some more detail about him / her?

CLAPTON

post a statement of affairs so we have more dertails about your financail situation

see
http://forums.moneysavingexpert.com/showthread.html?t=107280

The_Life_Plan

GreyPilgrim wrote:

Hi there, welcome to the site. One of the first things you should do is post your statement of affairs (all outgoings and income), and then the gang will get to work with some good advice.

In regard to the "18 year old who will not go to college", can you go into some more detail about him / her?

My eighteen year old daughter attended college last year, did not like it and dropped out this year, she was getting EMA and I was still receiving Child Tax Credit for her, which will now stop.

Welshlassie

Welcome to the boards, everyone her is so friendly and helpful.

Well done for deciding you want to do something about your debts, as others have said post your Statement of Affairs, its a scary process but will help you realise what there is and gives us something to help you.

climbgirl

The_Life_Plan wrote:

My eighteen year old daughter attended college last year, did not like it and dropped out this year, she was getting EMA and I was still receiving Child Tax Credit for her, which will now stop.

If she's 18 and doesn't want to study, then she needs to start working and start contributing to the household. You can't afford to give her a free ride by the sounds of it.

Post your SOA and we can help more with the full details.

The_Life_Plan

The_Life_Plan wrote:

It's over three years now since I split with my ex husband, it took me years of going to court to finally have the deeds to my home in my name with his name still on the mortgage and secured loan until I could indemnify him. I have lived on savings until recently with the help of credit cards and benefits as I have bi-polar disorder and claim DLA, I now have just about maxed on cards, cannot remortgage because I am on benefits, and am worried about where the next months payments are coming from. I found this site yesterday which is when you could say I had my lightbulb moment, I have tried moving balances from cards but have been refused. I am not in arrears with anything at the moment, but know I will be soon if I dont do something.
I am a single mum, three of my children are over 18, one of whom lives with me, will not go back to college, so my benefits will now drop this month. I also have a 6 year old son with me. I really dont want to fall behind with any debts. Any suggestions please.

Here goes guys:-
Income
Income Support 128.71
Child Benefit 17.00
Tax Credit 78.65
DLA 58.15 This is all per week.
Expenditure
Mortgage plus loan with Northern Rock 246.00
2nd Mortgage with EPF 250.00
HSBC personal loan 197.00 (9800 o/s)
Sky Credit card 110.00 (3200 o/s)
HSBC gold card 60.00 (2000 o/s)
Capital One 42.00 (1400 o/s)
Citi 15.00 ( 496 o/s)
Direct Debits
Car Ins. 29.35
Sky plus Ins 24.00
Brit Gas 42.30 includes ins for central heating and white goods and plumbing and electricals.
BSY 25.00 for distance learning because of my disability.
Contents Ins 12.37
TV Lic 11.37
Orange 25.00
BT 47.00 includes broadband, this is due to be reduced.
Gas/Water/Electric 10.00 each.

I am going to find out the interest rates on my cards and use the site to calculate which to prioritise.
By the way guys I worked full time all my life until I lost a son from cot death
The rest you can guess.