Trying to sort out all my bills

LeaBee_3

Hi Everyone
Hope you are well
I am after some advice please
I am on the sick for a month due to a pregnancy condition, this ends the end of this month then i automatically go onto maternity pay
As the SSP and SMP are very poor (£120 per week) I am trying to sort my bills out.
My outgoings bills (not food etc just bills) are £600 now it doesnt take a genius to work out £120 per week is £500 month so before i buy food etc im £100 a month down

I have been working out what bills I can get rid of, Sky, internet and telephone being one, saving me £50 a month
My credit cards (2, Halifax and capital one) are the main ones, I was thinking of writing to them to ask them to freeze interest as I pay the minimum balance each month plus an extra £5 per week off them but 80% of this goes on the interest. I cannot transfer to an interest free one etc due to my obmissable credit rating.
Do you think writing to them is a good idea?

All my other bills are essential ones which cannot be negotiated really, water, tv licence, mortgage etc.

I am starting to stress out now and its making me more ill and im 6 months pregnant so isnt healthy

I wont be going back to work after maternity leave as I cannot afford childcare £150 per week

Any help anyone can provide would be very much appreciated

Kind Regards

Leanne

Tixy

Hi

It sounds like you probably will need to offer reduced payments to your credit cards - this is usually best done in writing, explaining your circumstances and offer an amount you can afford and ask if they will freeze interest & charges. They may also ask to see an income & expenditure before they will agree to accept the reduced payments.
Doing this will affect your credit file (you'll likely have a default notice issued and a default marker entered on your credit file, which wil stay for 6years).

Have you worked out a detailed income & expenditure statement for yourself to see how much you should have left for debt repayments? Have you checked through each item to see if you are on the best deal (things like insurances, utilties etc).

If you bank with the same place as you have credit cards then you will need to set up a new bank account with a different unconnected bank. Otherwise they can offset any money in your current account against the credit card.

Have you checked to see if you are entitled to any other benefits on top of SMP?

LeaBee_3

Tixy wrote: »

Hi

It sounds like you probably will need to offer reduced payments to your credit cards - this is usually best done in writing, explaining your circumstances and offer an amount you can afford and ask if they will freeze interest & charges. They may also ask to see an income & expenditure before they will agree to accept the reduced payments.
Doing this will affect your credit file (you'll likely have a default notice issued and a default marker entered on your credit file, which wil stay for 6years).

Have you worked out a detailed income & expenditure statement for yourself to see how much you should have left for debt repayments? Have you checked through each item to see if you are on the best deal (things like insurances, utilties etc).

If you bank with the same place as you have credit cards then you will need to set up a new bank account with a different unconnected bank. Otherwise they can offset any money in your current account against the credit card.

Have you checked to see if you are entitled to any other benefits on top of SMP?

Thank you very much for your reply

I think I may have to do this, my credit file may be worse effected if i dont act now (CCJ's or payments late etc)

I have changed bank from my credit card so that is ok

I am currently working on income / outgoings spreadsheet as we speak and have downloaded a template letter asking to hold the interest from the CAB website

thank you very much for your help, fingers crossed it helps xxx

mummytothomas

When considering going back to work be mindful that tax credits may cover a large amount of your childcare. It all depends on your circumstances but they can cover up to 70% (maximum paid by them is £122.50 per week for one child).
Check out the website (won't let me post links as a newbie) but there is a helpful article on HMRC website, or give them a call to discuss on 08453003909 or local number 02890538192 if you want to save on mobile bill. Hope this helps.

LeaBee_3

mummytothomas wrote: »

When considering going back to work be mindful that tax credits may cover a large amount of your childcare. It all depends on your circumstances but they can cover up to 70% (maximum paid by them is £122.50 per week for one child).
Check out the website (won't let me post links as a newbie) but there is a helpful article on HMRC website, or give them a call to discuss on 08453003909 or local number 02890538192 if you want to save on mobile bill. Hope this helps.

thanks for this
i normally get £19 per week childcare for my son
i am hoping to get an evening job once baby born so i can watch kids in day and husband can in evenings x

mummytothomas

That's ok I think shame on childcare for being so expensive! Mine is going to be £45 a day :mad: hope the rest of the pregnancy goes smoothly

Darlyd

LeaBee wrote: »

thanks for this
i normally get £19 per week childcare for my son
i am hoping to get an evening job once baby born so i can watch kids in day and husband can in evenings x

Does you husband contribute? Do you get tax credits for your son?

LeaBee_3

darlyd wrote: »

Does you husband contribute? Do you get tax credits for your son?

He is self employed and is average wage at the moment is £120 per week
This covers food and his child maintenance for his daughter
we get £19 child and working tax credit a week

Tixy

Have you double checked that you are getting all you should? if his income recently has dropped have you informed them to see if you are entitled to more?
Might be worth a look at the benefits checker on this website http://www.turn2us.org.uk/benefits_search.aspx
You can complete it based on current situation and then on when you have next child so you know how much to expect to be able to get then.