Advice on bank debts?!?

RAS

Mrsgibbs1503 wrote: »

Have just gone through the CCCS site & there recommendation for us was bankrupcy???? eeeekk, now we're really confused & scared too.
Any thoughts on where to go next?
Thanks again for all your help & advice it really is appreciated

Certainly that is one option.

One thing I think need clarifying is how and why, when youn are managing to just about live within your current low income, you have managed to rack up debts worth twice your annual income.

That would help us understand what sort of debt management would be sensible.

MadamMim2013

RAS wrote: »

Certainly that is one option.

One thing I think need clarifying is how and why, when youn are managing to just about live within your current low income, you have managed to rack up debts worth twice your annual income.

That would help us understand what sort of debt management would be sensible.

I came out of my first marriage with debts, this was not helped by a period of unemployment for my 2nd hubby (the jobcentre were awful, made him set up a business for 6 mths training right in the middle of the credit crunch, hence it failed sraight after their "support" ended!!!) I also needed an operation that had to be paid for, etc, etc.
It's not that we have a lavish lifestyle, far from it we scrimp & save on as much as possible, vehicle problems & having to intermitantly care for my mum has made things harder.

We went to the bank in Jan 2009 to ask about reconsolidation (when things got really difficult) and they happily offered us £20k over 7 years..
Even they must have realised we were going to struggle, I did ask about other options then but they said this way was better (ok, I was a total idiot for believing that one)

This time round I have been told they never reconsolidate for more than 5 years!! (unless it's from the special debt team) when I questioned him about our previous loan he couldn't answer how we'd got it.

We really don't want to go bankrupt, I am becoming increasingly depressed about it all & wonder why I'm trying so hard when we're getting nowhere fast & look like complete idiots in the process!

MadamMim2013

Thanks podperson, tried to answer your points but it's playing up...

Hoping to get a joint account opened tomorrow (with Bcly's, I bank with them too) will also querie business bank acc.

Can't get any help for rent etc, asked a few weeks back.
Contacting council re 12 months spread, will wait & change bank details at the same time!


Need to contact BT to querie how much longer I have left on contract, then will contact Sky to see about a package.

Hubby's cut down an awful lot already, I've recently quit again (did 9mths free... then debt crisis....) have tried all sorts but he's agreed to keep cutting down as much as poss!

With my 16hrs, my boys and caring for my mum I don't actually have much spare time, we have to work to a rota for working hours, being with or collecting kids & then my mum etc all worked in! I'm workin on changing my job to soimething that will work better for us.

We are really grateful for all the responses, the support here is wonderful & makes things seem just a little less scary.
We've been doing car boots etc & I do a lot of surveys & shopping scanning to get vouchers etc to put towards expenses like xmas & birthdays. I also make all my own cards using my computer.
Hubby does relief milking as his regular work (currently) but he does try & fill in with odd jobbing and carpet fitting (his other trade!)

I actually designed & printed off flyers to put in his truck & around the local area to advertise his services :T Hubby was well chuffed, he's been really down lately feels he's let us all down by not being able to support his family.

I am planning on ringing one of the debt charities asap!

Thanks again

NorthernLas

Have you checked whether you could be entitled to carers allowance for your Mum? http://www.carersuk.org/Information/Financialhelp/CarersAllowance

Are you claiming working tax credit? One of you should be able to as long as you are self employed and work 16 hrs or more.

If the overdraft / cc / garage repairs have happened since 2009 (in the last 18 months) you may be spending approx £4k over what you are bringing in, though it is difficult to work out where. Well done on doing car boots and surveys.

MadamMim2013

NorthernLas wrote: »

Have you checked whether you could be entitled to carers allowance for your Mum? http://www.carersuk.org/Information/Financialhelp/CarersAllowance

Are you claiming working tax credit? One of you should be able to as long as you are self employed and work 16 hrs or more.

If the overdraft / cc / garage repairs have happened since 2009 (in the last 18 months) you may be spending approx £4k over what you are bringing in, though it is difficult to work out where. Well done on doing car boots and surveys.

If I claim any carers allowance they take money away from my ma!
I do a lot of basics,paperwork,the odd shopping/hospital trip but nothing I wouldn't do as her daughter anyhow. Would feel a bit of a scab if I "charged" her for my time, that's not to say if she needed more hands on care in the future we wouldn't claim but I would make sure it was only when really necessary.
She bungs us some fuel money on the occasions we use my car so I say it's fair anyhow!

We're already claiming working tax credit, that's why we can't get help with our rent/council tax.

The credit card & overdraft were used mainly to bail us out when our last vehicle failed & so did the repairs... long story, that with moving twice in 6 months cost us an awful lot too.

It's all my own fault for trying to manage for so long without asking for support or help!

RAS

Mrsgibbs1503 wrote: »

We went to the bank in Jan 2009 to ask about reconsolidation (when things got really difficult) and they happily offered us £20k over 7 years..

Pity about that as a lot of the older accounts would have been unenforceable.

Do you have PPI on the loan?

NorthernLas

Mrsgibbs1503 wrote: »

If I claim any carers allowance they take money away from my ma!
...

It's all my own fault for trying to manage for so long without asking for support or help!

I don't think they would take money away from your Ma, but she would need to be claiming specific benefits for you to qualify. Carers allowance is a specific benefit for somone who cares - they would not charge her for it. While I admire you for not claiming until absolutely neccessary, sometimes the earlier you claim the more help can be got.

Seems like the recent debt is justifiable, so stop saying it is your fault and keep doing the things you are doing to keep afloat

Ames

NorthernLass, if her mum's on income support then she will lose a big premium if someone claims carer's allowance for her.

MadamMim2013

Ames wrote: »

NorthernLass, if her mum's on income support then she will lose a big premium if someone claims carer's allowance for her.

Yup, this is true, have questioned why to the benefits office many times over the last 10 years & never got a decent answer!
My mum's got various probs that will only get worse with time but until she's dependant I really don't wanna take money from her.

She's a fab nan & help out with treat for my boys that I can't afford, so it's swings and roundabouts in some ways!

NorthernLas

Thanks Ames and sorry Mrs Gibbs ... shows how much I don't know about carer's allowance!! [Assume you are also well versed in DLA/AA, so I'll not go there either]