i don't understand how to get out of debt?

chazsucks

the only reason we are even in debt is because we couldn't afford things like gas and electricity which we needed lots of in the winter cos we had a little baby. the rest of our debt is when some months we have paid the rent and bills and its all our money gone. we need to buy food and pay for travel for my partner to get to work and back.

a couple of months we moved house and now we are better off, however my partners wage still only literally covers rent, bills, food, travel etc

i can't use my debit card anymore as it's always in an 'unaranged overdraft' and i can't afford to put money into it. so then abbey charge me more and put me back even further.

our credit cards maxed out and my partner uses the rest of his money to pay the minimum payment (most months but not always)

when we need things like nappies we are lucky as we have a supportive family and they will help out if its for our son so we don't need to worry about him.

i have thought of getting a part time job but it doesn't seem feasable as i'm studying at home at the moment to get into university next year. i study when my son naps and when hes in bed in the evening until im too tired to think straight. the rest of the time i'm looking after him.

basically.......... how do you guys all do it? pay money back? get out of debt? when i was working we could have easily done it in about 4 or 5 months but i couldnt afford to work as the cheapest childcare near us was roughly the same per hour as what i was earning.

i just don't understand!!!! sorry for little rant there just need some advice xx

prophecy_grrl

Sorry I can't offer any productive advice, it must be very difficult with just one income. Big hugs tho, and I bet someone will be along soon to help you out xxx

La_escocesa

Hi Chaz :wave:

Everyone on here is best at giving advice/ideas on new ways to cutback whenever you put up a Statement of Affairs. I think there is a link in one of the stickies at the top of the forum... I'll have a look for it.

If you really think there is nothing else you can cutback on then upping your income would be the other way to go. Maybe you could think about a not so traditional part-time job but perhaps upping your income with Mystery Shopping, selling stuff/ebaying, doing surveys, bingo sites etc.

There are loads of ideas on this board. I love joining in with some of the challenges and that really helps you focus.

Hope that helps.

xxx

julie03

are you claiming tax credits, and as you rent are you entitled to housing benefit

ERICS_MUM

Could any family member look after your baby so you could work (if you can find a job, not sure what your profession is). Or could you work evenings when your OH is at home and can baby sit ?

Sorry can't help on benefits.

Good luck getting yourselves sorted, don't get despondent.

Linda

JimSAFC

I'm only new on here but if you are struggling to make the credit card payments then book an appointment at your local citizens advice centre. They should be able to get the amount you repay per month lowered.

isy1011

You definately need to make an appointment at Citizens Advice.

'How do you guys do it..' That's a question I asked myself when I realised how much debt we were in aswell. How do other people manage?

For a long time our incomings didnt match our outgoings. When I gathered my nerve to look through the credit card statements. They revealed I was buying food, petrol, DIY stuff not luxuries.

There were quite a few areas we could cut back on when I did my SOA I realised plus we stopped paying for nursery as she turned school age and my neighbours and myself are now taking turns to drop off pick up etc plus we had a payrise plus I took on extra job some Sat/Sundays (nursing) as well as teaching during week (did my university stuff already) so that turned the corner.

But if you are living pretty close to the wire already with no chance of a change in circumstances then you are going to need help to get out of debt. You need to make sure you are getting every single benefit you can. A student loan when you start studying will be cheapest way to borrow (see Martins section about student loans on here) and you wont start paying back until you earn over a certain amount.

Let us know how you get on. All the best.:)

hamsterfan1

you could also speak to moneymadeclear on 0300 500 5000 or you can do it yourself via their website moneymadeclear.org uk - its a free call & they can give you a financial MOT - I don't work for them but I refer people to them as part of my job. They're part of the Consumer Finance Education Board so are a government backed service.

chazsucks

thanks for the advice everyone! what is a SOA? I tried Avon a couple of years ago, not when I was in debt but just for some extra money and I didn't really make anything. I tried one of the catalogues.... think it was betterware? and they said they already hadpeople in my area.

My dad looks after my son one morning a week while I study but he struggles as he is quite old and recovering still from having an operation to have his bladder removed in the summer. my mum is alcohol dependant so she cannot look after him, and well that's pretty much my family. my partners family live in the US lol

i think i should have explained more about our situation, when we was renting before it was over £900 rent, £220 council tax plus all the other bills.

we moved out in july and moved into my dads house, he has a faily big house and couldnt afford the mortgage etc was going to sell but didnt want to so we moved in and pay £500 rent plus our share of the bills etc and we rent two bedrooms - so where we were before we got local housing allowance but i don't think we would be entitled to it here as it's my dad

tax credits we were getting but then we didn't renew this year... i didn't even realise, we didn't recieve a letter or anything so that was just down to my stupidity. we got a letter a couple of weeks back saying we owe them £1000 and our tax credits had stopped so i have been phoning constantly it just said it was busy and phone again another time. i went on the benefits board on this websites and thankfully someone posted another number that they dont seem to advertise and i got through and thats sorted now so we should be recieving tax credits again soon. when we get them i should be able to pay off more of the card each month

thank you again for everyones advice xxx

isy1011

Here is the link for SOA. Put all your details into this. Everything dont leave anything out and see what people say.
http://www.makesenseofcards.com/soacalc.html

podperson

Hi Chaz,

We're on one income as well as it can be a real struggle. Good that tax credits are getting sorted out but I would definately look into housing benefit again - even though it's your dad you are paying rent so he is also classed as your landlord, they may ask for a tenancy agreement but can draw up a basic one fairly easily. Are you studying full or part time? If it's full time have you looked at council tax reduction and ALG, a lot of colleges also have creches for student use which might be helpful for you.
As others have mentioned if you post up an soa people may be able to help with ways to cut back your outgoings. Good luck with it x