Redundancy and Debt

knowing

I have recieved my final redundancy notice today. I'm really worried as, so far, i have not found new work, despite my best efforts, and i know i will be out of work from 2nd Jan.

My problem is that i have debt, totalling around £1000.00, so not a huge amount, but i'm not going to be able to pay anything towards them, my redundancy is pitiful and going straight to my mother for rent and a loan payment (a previous debt bail out) unfortunately its not bank of mum, its tesco, so the payment needs to be made and with a 8 month old baby she is not able to help me out.

Where do i stand? what can i tell my creditors?

Buddingblonde

So you will be on JSA of £65.45 per week from then on?
I think the best thing is to write to your creditors and advise that you are now out of work and that you are unable to make any payment other than a token one until you find a new job.
Do you have any insurances or anything on the debts you have?

knowing

It looks like i will be, unfortunately none of the debts have payment protection. the easiest things are out too, as i have such bad credit i cant get a credit card or loan.

sagalout1954

Make an appointment to see a Citizen Advice Bureau advisor, get some help to sort out what's best before it gets in a mess.

McKneff

Could you put your debt to your mum on hold for a little while.

Pay off the interest bearing debts.

Do you live with your mum and just pay board money. If so I cant see that you have such a problem. Do you have anything you can sell, a mobile phone or any jewellry.