Need some advice please

poppytj

I have recently separated from my husband and have moved into a new home with my children. over the last couple of month things have been getting quite tight and xmas and new year are starting to take their toll on me. I'm not sure how to get things paid off this months, things like rent and CT etc also worried how I"m going to feed my family.
I've written to my cc company to see if they will allow me to hold off paying them for two months.
I wanted to know if I could try and claim some bank charges back, I did try this a while back, but this was put on hold due to the court case and when that fell through I had a letter from the ombudsman saying it wouldn't be successful, however, could I claim a hardship payment, even if I could receive half the money back this would pay off my Credit card or the majority of it and I can pay all the important bills.
Is there anything I can do to hold the companies off until I can get back onto my feet? I'm not sure what to do:mad:
Is there a balance t I could get (I do have poor credit history, but I don't have any CCJ's) to move all of my debt into one place? or a loan that I could get to do the same with?
Thank you

WASHER

Firstly welcome to MSE and the Debt Free board.

Secondly, grab a coffee and stop for a second and breath.

Consolidation of debts is rarely a good idea, so don't even think about that.

We need an SOA (incomings and outgoings) so we can see if we can reduce your outgoings in order for you to repay your debt.

I'll post a link in a moment for the SOA.

You could offer your creditors (credit cards companies) a token payment of a £1 each month, it will ruin your credit rating, but I don't suspect you are wanting anymore credit in the near future?

We always have lots of questions before we can offer answers, we need to see an SOA, include everything and a full list of your debts including overdraft.

WASHER.x.

WASHER

http://www.makesenseofcards.com/soacalc.html

Link to SOA, format it to MSE.

TheBex

Hi there, sorry to hear its been so difficult

A couple of things - are your children also your husband's? If so, is he paying his share for their upkeep? Even if he is it might be worth saying to him that you need a little help to begin with now you're on your own - point out that there are expenses that get lost along the way and you need to rethink your budget to properly account for the children's needs. Or maybe if you're on OK terms he might give you a hand this month - even if its just the school lunches it'd be a weight off.

Do you have any CC charges you could reclaim, because they aren't on hold?

Doing a BT will only work if your credit's good enough to get a BT card, I'm sure there are tools about (probably on here somewhere that'll do you a guess - perhaps try one of them?

Also on the ubject of the CC, this is a low priority payment compared o your rent and CT so you must pay these first, even if it leaves you short for the CC.

Are you paying your CT by 10 month payments or 12? You can ask to change to 12 which will reduce them a bit for the time being, although you do still have the full amount in total.

As Washer said, it's very important to try to relax so you can sort this out level headed, obviously its worrying you and that's perfecly reasonable, but there are options and you need to chill a bit to work out where you are and what you can do about making it better.

I hope that getting it off your chest lets you sleep well and you can run through our questions in the morning feeling better.

Good luck x

poppytj

Here's my SOA

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 751
Partners monthly income after tax....... 0
Benefits................................ 849
Other income............................ 0
Total monthly income.................... 1600

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 560
Management charge (leasehold property).. 0
Council tax............................. 190
Electricity............................. 90
Gas..................................... 0
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 40
Mobile phone............................ 40
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 30
Road tax................................ 5
Car Insurance........................... 15
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 120
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1327


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
M&S............................3223......82........0
overdrafts.....................800.......0.........0
loan...........................1000......48........0
store cards....................800.......50........0
course loan....................2000......0.........0
Total unsecured debts..........7823......180.......-


Monthly Budget Summary
Total monthly income.................... 1,600
Expenses (including HP & secured debts). 1,327
Available for debt repayments........... 273
Monthly UNsecured debt repayments....... 180
Amount left after debt repayments....... 93

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,823
Net Assets.............................. -7,823

Created using the SOA calculator
Reproduced on Moneysavingexpert with permission, using IE browser

poppytj

thank you TheBex, no I don't get anything from my husband, he has some demons of his own to sort out!!
I am trying to pay the most important things of first, rent etc, but don't want to get into the pit of missing payments of my other debts, which is what will happen this month and next...I have contacted my credit card comp and am hoping that they will be OK I don't usually miss payments.
I know I should relax, but can't stop thinking about it:(

WASHER

stephatj wrote: »

Here's my SOA

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 751
Partners monthly income after tax....... 0
Benefits................................ 849
Other income............................ 0
Total monthly income.................... 1600

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 560
Management charge (leasehold property).. 0
Council tax............................. 190 THIS IS VERY VERY HIGH -ARREARS?
Electricity............................. 90
Gas..................................... 0
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 40
Mobile phone............................ 40 TOO MUCH EACH MONTH
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0 HOW ARE YOU ON INTERNET?
Groceries etc. ......................... 200
Clothing................................ 0 YOU MUST HAVE SOMETHING HERE
Petrol/diesel........................... 30
Road tax................................ 5
Car Insurance........................... 15
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 120 WHAT IS THIS?
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 AGAIN, YOU MUST BUDGET FOR BIRTHDAYS AND CHRISTMAS
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1327


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0 - DO YOU NOT OWN THE CAR?
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
M&S............................3223......82........0
overdrafts.....................800.......0.........0
loan...........................1000......48........0
store cards....................800.......50........0
course loan....................2000......0.........0
Total unsecured debts..........7823......180.......-


Monthly Budget Summary
Total monthly income.................... 1,600
Expenses (including HP & secured debts). 1,327
Available for debt repayments........... 273
Monthly UNsecured debt repayments....... 180
Amount left after debt repayments....... 93

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,823
Net Assets.............................. -7,823

Created using the SOA calculator
Reproduced on Moneysavingexpert with permission, using IE browser

The good thing is you have a surplus each month.

Can you answer the questions I have asked in the SOA.

You have no need to panic, according to this, you have enough to feed yourself and the children and meet your debts, if you do not, why not? Are you withdrawing monies from the ATM, popping to the supermarket every day, can I suggest you pull out 2 months of bank statements and add up the cash withdrawals and supermarket debits, you may be surprised.

WASHER.x.

poppytj

Washer

yes, my problem the last couple of months is taking money out of atm, xmas spending, etc
My CT is high as I am paying some extra on top for my ex that is due on the old house, my main CT is 133 p/m and until March I need to pay a further 60
I do own the car, it's worth about 500
child related expenses are their after school club of karate - 70 and their baby bonds 50 combined
my internet is with my phone bill
i buy clothes and bday presents when i need to, I know these should be budgeted for - the reason I'm in this predicament

thank you for your help

WASHER

Christmas is an expensive time, especially with children.

Can I be really cheeky, you sound desperate at this moment, how much do you have available until you next get paid, and what is due to be paid from that money.

WASHER.x.

WASHER

Even a £133 per month is high, are you getting single persons allowance on your new home CT?

poppytj

I will have approx 815 left this month, but this has got to go towards my rent 560, council tax 133 (i the other payment has already been taken). the other payments left are my telephone bill 44 course fee 85, CC80, store card 50, I'm not putting the cash aside for my electric or water as they should go into my savings account until the bill comes through
I'm not sure what to do and I know lack of sleep doesn't help either