I'm sinking now....can't manage the debt now...

steve700

Hi DC,

How are things going?

Steve

debtCollector_3

chevalier wrote:

Hi DC have read through this thread. Take a minute to read your opening page of this thread, there was a person in full panic mode not knowing what to do. Then look at page 6 of your thread, there is a person who is taking back control and is gaining in confidence through doing so.

I know that you have done a statement of affairs, but could I ask, for the low wage you are on, what do you do? The reason I ask is that there are several sites on the web, where you can do eg mystery shopping assignments, fill in surveys (to save up points for vouchers), or answer questions, all of which would generate some additional income. Do you have anything you can ebay.

With regards to your car, have a look at https://www.freecycle.org this is a website where people in your local area offer things they don't want FREE to a good home. There have been cases where people have offered CARS for free (though would need tax and maybe mot). So it might be worth a look for a cheap car. They also offer all sorts of other things which might help you.

What age is your other child? I would tell them what you are going through, they might understand and want to help. They may already be worried that 'something' is wrong, and it may be a relief to know that it is only (ha ha) money they have to be worried about.

The very best of luck and well done again
chev

Hey Chev

You're right, I was freaking out at the start of this thread, but with all the encouragement / advice I have had it has made me realise that its not the end of the world and there is a way out

My yearly Salary is just under 16K, when I apply for new jobs I lie about my salary cos potential employer wouldn't believe the job I do for that kinda money, the jobs I have been looking at are in the region of 22K to 25K..... if only I could get one of those.... my job just now is ICT Consultant / SysAdmin, a new job is on the horizon

If I get rid of my car I will still have the loan to pay as the loan amount is much greater than the value of the car. Thanks for the web link, I'm going to have a wee look

My other youngest son is 13....... I don't want to worry them just now.... so I'll see how things work out over the next couple of weeks or so.

DC

debtCollector_3

steve700 wrote:

Hi DC,

How are things going?

Steve

Got the paperwork in for my new bank account, I'm going to sign application and take it to the branch with ID today, then I think I have a new account.... Will let you know

I know that is just the begining of the end of my debt..... with a very long part in the middle..... I'm still worried about the reaction of my creditors and would die..... well maybe not die.... if any of them took court action against me.....

Didn't get the chance to call pension plan yesterday, so I will do that today.... fingers crossed that'll be good news!! I think I'm going to cancel pension completely, as you can't transefer it from employer to employer and I hope to be outta this job soon, I have been applying like crazy!

DC

debtCollector_3

Brassic wrote:

Hi there DC,

Well done on taking such big proactive steps to sort yoiur situation out. I've got no more advice to offer I'm afraid, it's all been said already, but just wanted to say Good Luck and keep up the good work! You've made a fantastic start!
For the record, I too would tell your children, and seriously look into the selling the house option.

Thanks Brassic

I know I should consider the sale of my house as an option but to be honest I don't want to sell, I just think that would depress me even more!

I know that it is my responsibility to get myself out of this mess, however, my parents have been giving me at least £300 a month, I was going to ask them if they would take over car payments instead of giving me cash, short term until I get a new job... and ask my son to give in some housekeeping..... I'm going to redo SOA this will let me see if this would give me any cash to enable me to go onto a debt payment plan..... will do that later

Thanks
DC