Week 2 - There's so much we can do.

RubySewSew

I'm interested to know how full and final offers work Eager. This is not something I've looked into. Will CCCS go into it with me once I have some money to make an offer with? Will this have a worse or equal impact on my credit score? I know my cs is wrecked for now and I'm ok with that but I would prefer it if in the future if I wanted to start a business or remortgage I would still have that option.

I have to say that although the letters have gone in the post today I am exceptionally nervous about phone calls and post. I feel like a naughty child waiting to be told off and asked to explain myself. I'm hoping that this move means I can start to claw back some financial normality and balance, to not have to worry about spiralling bank charges and bouncing items.

It is also on my mind that with one more thing off the list I need to deal with the next thing which is to finalise my divorce. After 4 years it is well overdue but the ex will not sign the financial paperwork. As far as I know the only way to do this is to get a solicitor, a step I have tried to avoid. Again, I'm scared. I don't know why. I know I will feel better once it is done but I can't stand all the bad feeling it seems to throw up.

I worked a successful session at the university today which has earnt me £120. I have 2 and a half hours teaching tomorrow night and another 4 hours on Friday. I found paperwork for 6 outstanding reunions which comes to more than £300 and I am still trying to squeeze in another 4 hours of this course (£100) which I don't know where I am going to fit it in as I don't have any available sessions left. Eek! It seems ridiculous to have the earning potential there but to not have the time to execute it!

I have my only real day off tomorrow (except for working in the evening) and I'm hoping to do something nice with the boys. It doesn't feel like we've had a break so far. An actual real holiday would be heaven - just what I need right now!

In_Search_Of_Me

sorry things have been so tough for you but well done for taking control. Have you tried to get hold of payplan?
http://www.payplan.com/
they may be able to help?
Sorry to hear about the dog; I had to do the same with cats a year ago and it was hearbreaking but needs must. I now have one cat and that will be it for now. Im still very much tempted by pets but after the lizard had to be rehomed realised that I really need to stop. Often for me its just that panic spending/urge and after I realise how stupid I am...trying more and move to leave it overnight rather than the impulsive now. Also to think more about why I want to spend - often feel sad, tired or boed so am using existing stash to keep myself busy and currently making a quilt from existing materials.
Good news on the job and recognising you need to work full time.
Wonder if youve had contact with these
http://www.parentpartnership.org.uk/
re the boys; theyre very supportive and great at helping guide you through the education system. hth?

RubySewSew

Not seen parent partnership before which is really helpful. Will have a good look through their website, thanks.

I'm absolutely shattered. I've had to nap every day this week - I feel like an old woman. I had been eating really badly the last couple of days which i thought was contributing but I've been pretty sensible today and still needed to sleep.

Off to work this evening and again tomorrow. My Mum is having to drive down from Essex to have the kids tomorrow because I didn't have any money to pay for childcare. Still haven't got any childcare for DS2 on Monday. It's chaotic! I'm wondering how I'm going to fit everything in tonight. This course has been really hard work so far.

So, a little tiny update before going out to work. Just close my eyes and think of the money.

Eager_Elephant

RubySewSew wrote: »

I'm interested to know how full and final offers work Eager. This is not something I've looked into. Will CCCS go into it with me once I have some money to make an offer with? Will this have a worse or equal impact on my credit score? I know my cs is wrecked for now and I'm ok with that but I would prefer it if in the future if I wanted to start a business or remortgage I would still have that option.

Full and finals are where the creditor will accept a lower payment to clear the debt in full than what is owed.

So you might owe £150 but the company will take £100 if you can clear it in one go.

Debt Agencies will be the one's who offer this, your debts will be passed on to these people quite soon as not many banks will accept token payments as the system is not set up to do so. Debt Agencies get paid the quicker you clear the debt so for them to offer a full and final is preferable to accepting £1pm forever.

The most important thing is get the offer in writing so there is no come back in the future.

CCCS may discuss this with you, if not National Debtline has some good info on it.

If a debt is on your credit file then if you pay using a full and final it will show as partial settlement as supposed to a settlement (in full). This could be seen as slightly worse than paying off in full but once you fail a couple of payments the banks will default you which is quite bad on a credit file anyway. Debts stay on file for 6 years from the date they are cleared, so either way your credit score is ruined for a little while.

With regard to remortgaging in the future, you might not get the main offers available to most people with a good credit score but as long as your payments to your mortgage are always made some go on customer accounts rather than credit reports.

Either way what you have done by offering token payments is fine as there is no way you could have continued struggling as you were.

EE

Eager_Elephant

In_Search_Of_Me wrote: »

sorry things have been so tough for you but well done for taking control. Have you tried to get hold of payplan?
http://www.payplan.com/
they may be able to help?

Hi ISOM

I know this question was not aimed at me but thought I would mention that Payplan will tell Ruby exactly what CCCS has.

At the moment she has no spare money to pay anything other than token payments and Payplan will only set up a DMP if you can offer at least £50 per month to your creditors.

Any less than this and you have to go it alone although you can use their template letters.

EE

In_Search_Of_Me

ahh...my thinking was that cccs always hugely busy and maybe payplan may be able to do some of the legwork under the worth a try category!
Hope that you manage to get some rest ruby...sound exhausting although have just done a 12 hour day myself so am a fine one to talk! Included having to clean sick up which was less than joyful...

RubySewSew

Ok, help, now I really don't know what to do. I haven't been paid again. Payday was today, no pay slip has been generated and I don't have any money in any of my accounts. Everything is up to its limit, will face unauthorised overdraft charges on my Halifax account, don't have any shopping and I don't know what to do. School have mentioned a special payment but presumably that will take some time. I was so looking forward to today, now I feel completely trapped.

Eager_Elephant

Oh Ruby

Clearly payroll have ballsed up again!!! Obviously the issue needs sorting but in the interim they could do a CHAPS payment, this is a same day payment (cost £25 I think) but they will have to foot this charge as it is their error.

Maybe you could ask for say £1000 (or any other figure you want but obviously not more than what your wages would be!!) to start with until your wages are sorted which hopefully would cover majority of the bills due this week. Then they can transfer the rest of your wages in within the next few days.

Could you try to cancel the DD's to prevent charges, if you get any charges then your work should cover this as it is their error.

Also make sure you act calmly but give HR hell :rotfl:

EE

In_Search_Of_Me

deep breath...when you say agan how much do they now owe you? As already stated I would very nicely but firmly give them hell-maybe with a gentle reminder that you are the sole wage earner and literally cant manage without and neither should they expect you to. Big hugs for you as know its such a kick in the teeth when youre trying hard to sort stuff....hang in there!

chevalier

can you get a crisis loan from the dss to cover the bills that are due out this week? they aren't just for people that are on the dole...

good luck talking with HR about getting some money sorted.

chev