Help! Smothered

DC34

Unfortuantely we did that.

She got me totally debt free, i then ran it up again as soon as she allowed me access to my own account again.

I am totally useless with managing money.

It is the 4th of the month and i have no money, i have no choice but to take out the payday loan that i have paid in full again as i have no money.
What can i do?
I have even started working in a local pub which pulls me in another £70 a week which should help.

If i do what someone just suggested IE - Start a new bank account and default all the loans what will happen

podperson

Ok this is going to sound harsh but if you are serious about sorting this out then you need to make a genuine effort to save money (and that includes your partner as well). I don't understand why she thinks she can't feed 2 adults and a child for under £80 a week. I feed 3 adults for £45 a week and am working full time so have very little time to cook from scratch and batch cook which I know could reduce it more.
If you aren't willing to speak to your mum about reducing those payments and only think you could 'possibly' reduce the groceries by a little bit then you will be stuck with the payday loans for the next 3 months until the £500 you are paying your mum becomes free and will probably end up paying another 1k in interest in that time.

DC34

Thanks for your help anyway

koloko

deleted as work colleagues found username and forwaded on all posts to laugh at

Fiddlestick

DC34 wrote: »

With regards to the £500 its only for two months and its my mum cant let her down.

Can you not explain the situation and ask her to wait?

It would allow you to pay off some of your loans and give you some breathing space.

DC34

So what do i do now, i have no money and have a whole month to get through

pippitypip_2

DC34 wrote: »

So what do i do now, i have no money and have a whole month to get through

DC34 I don't mean to be rude, but you're ignoring all the advice that has been given to you (all people taking time out of their day to try to help you, don't forget) - and then you want more advice on how to get through the month - which you're then likely to ignore?

Here's one thought - no more payday loans for a start?

pippitypip

pippitypip_2

DC34 wrote: »

If i do what someone just suggested IE - Start a new bank account and default all the loans what will happen

You will screw up your credit rating royally - it's to be used as a last step out of desperation and you WILL still need to make arrangements to pay them back, using your SOA as a guide to how much you can afford monthly.

I absolutely can not advise you renew your paid off loan with a view to defaulting it though..

DC34 wrote: »

She got me totally debt free, i then ran it up again as soon as she allowed me access to my own account again.

I am totally useless with managing money.

What on earth are you spending it all on? What lessons have you learnt?

pippitypip

MissGolightly

how does the work at the pub pay you? if it's weekly, for a fun challenge, why not see how far £70 can stretch?

my OH is off on long-term sick, can only contribute to rent and has moved in with his mum in meantime to save money on heating/electric during the day. i manage on £20 a week for groceries, that is breakfast, packed lunch for work and dinner, then OH comes and stays weekends so have him b/l/d two days a week. i even manage to sneak in a packet of wine gums at £1 to cheer OH up! we have actually increased our debt repayments while he's not working, because it has forced us to take a good hard look at our living expenses.

for now, perhaps explain situation to mum, and ask for some of your last months payment to her back (only enough to cover essentials i.e. travel to/from work, groceries) atm you are free from one payday loan, so just do as others have suggested with cutting back/clearing out and do absolutely everything you can to make sure you don't have to apply again this month.

good luck to you! i know it's scary when it's payday and you've literally got nothing left, but you'd be surprised how much money gets wasted when you really scrutinise every little thing.

DC34

I'm not ignoring the advice and i am really grateful for it.

If i manage to avoid paying the £500 next month that fine, im sure with some embarasement i can get out of it.

But that doesn't help me now.

You can see why i am helpless case