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

moozie_2

debtCollector wrote:

You think I should open a new bank account and setup all essiantal bills to the new account?

What about loans and CC? blank them until I get myself organised with Payplan?

Council Tax arrears are about £800, I did contact council to explain situation but they just told me to pay what I could, and that there is nothing they can do for me, just have to take consequence. Not very helpful :sad:

Yes, that's right. Open a new basic account, with a company that you have no links with and pay all your income into that.

CT don't have to be helpful I'm afraid. They are asking for tax which is payable on demand, unlike other debts. Please ring an agency on Monday and let them offer you some guidance on this. You are not alone but please trust us when we say CT has to take priority over CC/loans.

hot_chick_2

The car is costing more per month than the house, can you do without it or get a cheaper car?

livinginhope

That's brilliant needasprin,much clearer for us all to see!
I think the car is a major problem,I would recommend selling it and getting MUCH cheaper one,that would free up nearly £50/week,this could then be used to pay the creditors.
Debtcollector,get all your details sorted out tomorrow,income/detailed expenditure,then give Payplan or CCCS a call first thing Monday morning.
Good luck.

debtCollector_3

needaspirin wrote:

I have made an approximate calculation for your income/expenditure.
I’ve calculated your gross wage as £174/week. Net £153.52.
Child Tax Credit £78.26
Working Tax Credit £36.33
I’ve allowed for water charges, food, and petrol/car tax that you hadn’t in your post. And this is your income – expenditure.





You actually do not have enough income to offer anything to your creditors. Do you really need the car? The car costs are sucking up most of your money. How about changing the phone to pay & go? Can you get your insurance costs down?

I suggest that you go to CAB for a proper I/E. Take your wage slips, CTC/WTC award details and details of your debts.

OMG! That's freaked me out.......

Monthly Salary is £990 (net)
Monthly WTC £227
Monthly Family allowance £70.??

Yeah need the car, I had a small car to start then traded it in for bigger car, which ended up costing me about £200 fuel each month, so traded that in, couldn't get finance, so mum took loan out for me, so even if I got rid of car I'd still have the loan........my son is on my insurance, which he paid me for, and I used the money to pay other stuff, so now have DD of £92 for insurance...

My phone is now pay as you go, while on holiday .... I know I shouldn't have went on holiday but I did....... the cost of call on my contract ended up with me recieving a £250 bill... which i haven't paid.......

Oh my, it just gets worse the more I say....

debtCollector_3

loneranger wrote:

YES and do it right away council tax is one of the top priorites, they will send the bailiffs around to collect unless you contact them and come to an agreement now.

Oh no...... now I'm freaking out more...... all this is overwhelming.....now I feel like crying! And that is a first!

Think I'll call it a nite for now......

D&DD

debtCollector wrote:

I'm so glad I posted this evening, I have popped on this site a few times and never posted but after spending a good few hours today, writing letter and working on budget, I felt rather depressed and thought I'm never getting out of this mess, its good to know that I'm not alone......

Hi DC welcome to the site I think the first time you actually sit and write it all down it terrifies you..we all know that feeling and just wanted to let you know you are not alone anymore hun we're all in this together!

livinginhope

debtCollector wrote:

OMG! That's freaked me out.......

Monthly Salary is £990 (net)
Monthly WTC £227
Monthly Family allowance £70.??

Yeah need the car, I had a small car to start then traded it in for bigger car, which ended up costing me about £200 fuel each month, so traded that in, couldn't get finance, so mum took loan out for me, so even if I got rid of car I'd still have the loan........my son is on my insurance, which he paid me for, and I used the money to pay other stuff, so now have DD of £92 for insurance...

If you sell the car you would use the money to pay off the loan,then you could buy a very cheap car ie £350,you cannot afford to be choosy,this would also reduce the cost of the insurance.
You say your son paid the car insurance,I am then assuming he is too old for child benefit? is that right? as he is older,is he working? could he help towards the bills?
I really feel the car would be the easiest way for you to save money.
LIH

livinginhope

debtCollector wrote:

Oh no...... now I'm freaking out more...... all this is overwhelming.....now I feel like crying! And that is a first!

Think I'll call it a nite for now......

Don't cry DC,it is very frightening seeing your situation in black and white,I know exactly how you feel and we all want to help you.
Call it a night now,but come back in the morning,things might seem better tomorrow after you have slept.
LIH

roxorx

debtCollector wrote:

I know I was saying to my mum the other the other day that I was feeling be taking money, she told me not to worry about it as long as I was keeping on top of things...... if only she knew the whole truth.... she'd flip!!

I'm thinking if I was to do a complete budget then I'd have nothing left for creditors..... and then what would happen?

I so have to get a new job with a better salary!!

hey, the people on here give some great advice so hope you get stuff sorted soon

the only advice i cna give is talk to your parents about it. i hid my debts from my mum for years, but would still be borrowing between 100 and 700 per month from her :eek: i finally came clean earlier this year and told her what i owed and to who, she wasn't best pleased to start with, but she knows i am trying to sort things out so offers help when i need it now, and for specic reasons instead of throwing money at me.

needaspirin

BTW - if anyone would like a copy of my Income/Expenditure spreadsheet. PM me with email address and I'll send it on.