Taken the plunge

joesaunt

I have today contacted Payplan.

I have £14550 worth of debt and have been paying as much as I can off when I can. The 4 credit cards are on 0% interest, I have a bank loan and an overdraft. (The loan has £3800 remaining and the overdraft is currently £2000 overdrawn).

I have been paying off the cards, slightly more than the minimum payment, and when I have the spare cash, I paid off a bit more. This has not been a problem for the last 18 months, until my 17 year old son left college to get a full time job. (well done on him in the present job climate) but it means I lose £81 child benefit per month, £242 Family/working tax credit and £325 child support per month. Meaning I cannot now pay my debts. I am currently not behind with any of my payments on debt, or my rent or council tax or any utility bills.

My son will give me a small amount each month, but you can appreciate he is on a very low income at present.

Last night for the first time in a number of years I didn't sleep. I have economised and prioritised with the help of this board for the last 18 months, since I left my husband and yesterday I faced up to what I owe and today I have sought help before I start to miss any payments. I have a telephone interview next Weds (As I am off work that day and will be home in the peace and quiet) with Payplan and then they will take it from there.

I feel better for getting this off my chest and want to thank everyone on here for the useful advice I have gleaned from you.

Tixy

Hi and well done for tackling things.

Good luck with your telephone interview. Hope they can help you sort something out. If you feel at all unsure about the route they suggest just ask for some time to think things through so you can then come on here and talk to others etc.

I assume there is no chance of son's dad continuing to pay something monthly voluntarily until son earns more? Even if he paid it to son, who could in turn then contribute a little more to you?

joesaunt

Hi Tixy

Thanks. Unfortunately my son's father cleared off when my son was 6 weeks old! The CSA had a struggle to get him to continue with the maintance when my son started college, I know he will take this opportunity to stop it all together. My cat has a better chance of playing the piano than him paying me/my son anything else

Tixy

Ah, well I did think it was a long shot but also thought as it was quite a large sum each month he could perhaps afford to and want to help his son out. But obviously the problem is with the latter part.

Still (apart from financially) I'm sure son is much better off without him.

Squirrel29

My debt problems have been made worse for the same reason as you, son left school for an apprenticeship 2.5 years ago and I lost hundreds a month in CB, child support and tax credits. I only take £30 a week off him as he's also on low wage. I started with Payplan last month and they've been brilliant. People get into debt for all sorts of ways. Best wishes for the future.