new to forums and in a lot of debt

uptomyeyeballsindebt

Hello,this is my first post.I hope someone can give me some advice,because I really don't know what to do.I'll try to keep it short,sorry if it seems long!

I gave birth to my first child in May,prior to this I had decided that I needed to sort my debt out - I have got into a right mess -31k of debt just from credit cards and 2 bank loans,all unsecured.
I went to the CAB for some advise,I saw the money advisor who gave me 2 options - bankruptcy or token payments.This was back in April(I was very hormonal-still am!)and didn't really know what to do so I opted for the token payments.You see I was hoping that when I returned to work everything would be okay,and I would be able to pay my debts off.Realistically,I don't earn enough to be able to do so,but I must like to kid myself.
To cut a long story short(I could waffle all day if you'd listen!)my SMP has finished,I am going to see if I can claim IS tomorrow.Now some of my creditors accepted the token payments they were offered,some didn't.MBNA and Lloyds(my bank who the 2 loans are with)Now MBNA have sent me a letter saying if I pay £14 thet will consider writing the debt off,or will accept £14 a month.When I phoned them this morning,they said nothing about the first option,only went on about the second,and then told me my payment arrangements that where originally with Bank of Scotland which are now with them are no longer acceptable,and I need to pay more on those too. They said they sent a letter to the CAB but I have had no correspondance from either party in respect of this matter.Lloyds have still not written to me despite my requests,but have sent a letter from a debt company.
I am worried to death now about these debts,I don't know if the token payments were set up for just 6 months,and as it has been 6 months I think the CAB have closed my case.I am in such a mess and I don't know what to do nor where to turn - I don't want my child growing up in this "always in debt"life I have - please help me,any advice would be appreciated.

dancingfairy

Just wanted to say hi and welcome. Don't worry - you're in good company here. You're doing the hard part which is facing up to the debt. Are you getting any help with the little one? Are you meeting up with other mums and babies? If you are really struggling perhaps a visit to the doctor will help -maybe you are suffering from PMT?
With regards to the debts don't panic - one step at a time. If you can detail the debts, min payments, aprs etc this will help us to help you. -An SOA - see Southern Scousers sticky post on how to write one.
We're all here to help you and you can sort it all out - it won't be easy but you'll have loads of help from all the DFW's.

Storm

Hello and welcome!:hello:

I'm wondering if the MBNA letter included a typo as they said £14 in full & final settlement, or £14 a month - this might be why they tried to ignore the first option when you spoke to them! I'm not a legal expert, but personally I would try sending them a cheque for £14 in full & final settlement (make sure it goes recorded delivery) including a copy of their letter with the relevant passage highlighted. However, there may well be some legality regarding clerical errors - do you mind me asking how much this debt currently is?

If you post your SoA including debts with APRs, incomings & outgoings people will be able to offer you more advice.

Congratulations on your new baby - and at the end of the day the best thing a parent can give to thier child is love and attention, material things are right down the list

Storm x

atypicalblonde

Hi and welcome.... others can provide the money advice and I'm sure there will be loads coming you way soon, but for now have a hug from me xx

uptomyeyeballsindebt

Hello,and thank you all for your replies - I'm crying(hormonal again!)but I'm crying with relief that I'm not on my own and that there is people like you willing to help me - I will do that SoA now and post it ASAP.Thanks again:)

lynzpower

Sending you a hug, take a deep breath you are among freinds here.

xx

uptomyeyeballsindebt

Right,here goes,it's only a rough one....

My Salary....was around £800 per month,but I have been on Maternity pay since April,as of the 15th of October,I am on unpaid leave.I have an appointment at the Job Centre tomorrow to see if I can claim IS or Mat.Allowance
I recieve child benefit,£69 per month and Child Tax Credit of around £250 - can't remember exactly because I was getting WTC,and it was paid altogether,but that has stopped now.

My partner buys everything that baby needs - we are very much together,but live at different addressess - he lives with his Nan,I am still with parents.

Board money £100 PM
Car Ins. £30 PM
Car tax every 6months £97(I think)
Petrol £30 PM
Pet insurance £25PM
Pet supplies £35PM
food £120 PM
personal care items £15 PM
Mobile phone £5 PM
Internet £15 PM

Why can't I think of anything else.......!

What I owe

2 bank loans with Lloyds
1@£8533.83 ,1@£6092.03

mbna credit cards x 3
1@£876,1@£1092.22,1@1143

lloyds card £5953.54

egg card £3713.29

capital one card £2807.01

citi card £832.42

barclaycard £874.34

Some of these amounts may have risen,I am copying from the sheet the CAB gave to me back in April,and as I said,MBNA and Lloyds aren't being co-operative.
So sorry if this isn't enough info - I'm trying to find it all out,type it in and feed baby at same time!!
I don't know at this time any of the interest rates(I'm too scared to phone them in case they ask for the money)
I just want to be debt free,the payments that I am making are no where near to getting me free of my debts.Thanks again to all of you.

Bestthingsinlifearefree

HI Ya !!

Welcome to MSE :beer: You have come to the right place for good free;) advice and support.

Is the car essential ?

when your maternity leave finishes are you seeking to go back to your old job ?

Keep positive and keep posting:T

D&DD

Hiya welcome to MSE Things may look a bit daunting now but there are so many people on here who have been in your situation (including myself) you have come to the right place for help.Just wanted to say well done for trying to do something about it and a problem shared is a problem halved..There is usually someone about on here and we often let off steam when need be so feel free but it DOES get better honest!!!!! You have taken the hardest step so its all up from here

leon103

Welcome.

What pets do you have?

You seem to paying a lot for them.

uptomyeyeballsindebt

Thanks again everyone for the support,I feel so much better about things now I can share my problem:A

What pets do you have?

I have three large dogs(setters)and nine cats,plus I have budgies, cockatiels,tortoise and fish.
The money for the pets includes food,litter,and medication.

when your maternity leave finishes are you seeking to go back to your old job

They are keeping my job open,I'm a postie,so I'm not sure on who may want to child mind at that time of the morning!I'm hoping that I may be able to change jobs,I am going to ask at the Job Centre tomorrow about it.