301k in debt and morbidly obese - things aren't great!

Lara44

Mr Bloater, really feeling for you.

Is it the kind of shortfall of a few hundred you can make up with ebaying / car booting or something more? Either way, don't panic and don't let MrsB panic. There is always a solution. A few defaults are really not the end of the world. Really. Really, really. Especially with a lovely family around you. We can't always manage all aspects of our life perfectly, so don't beat yourself up.

The key question for later is why you can't meet the outgoings this month. Has something come up you weren't expecting? Or is is a build-up of loosening the MSE reigns for a few months? Then you can decide what next steps need to be taken. Maybe this is a second LBM that helps you to build a more sustainable future.

Have you had any PPI mis-sold? That may be well worth looking into.

MrBloater

PPI is the elephant in the corner. I'm really unsure about this one. I did have a loan from my bank starting back in 2002ish and I know it had PPI on it. However the following things are making me hesitant about claiming.
1) I don't have statements or paperwork going back that far so have no way of knowing exact dates/amounts
2) The bank have been brilliant with me, took me on back in 2000 when nobody would touch me (the late 90s Bloater was not very clever with money either) and I have a substantial overdraft with them, a current unsecured loan , my mortgage through a subsidary of theirs and a credit card. Now if I claim the PPI back who's to say I won't suddenly get my OD limit cut etc??

Firewalker

Good for telling MrsB - and what did you expect? Women react emotionally first and then move to reason. I know I did and you should probably talk to my OH about the shouting that went on and the sleepless nights (yep, I did shout even at myself in the mirror). You have to make sure that you and MrsB meet on a rational basis (and watch it because men tend to go the other way -start with reason and slide into emotion).

I still think that you have to make sure your budget adds up - this sounds like a 'systemic' problem rather than temporary cash flow glitch. Your first step shoud be looking at your cash flow month by month and working on eliminating the negative balance.

Firewalker

Lara44

Hi MrB

I don't know much about PPI but it would be well worth making a post in the relevant forum here. There's no point being loyal to banks because they won't return the favour. You can get a basic bank account whatever, so them 'taking you on' isn't that big a deal imho. If you were mis-sold PPI then they stole that money from you and you should have it back.

I am sure you have seen on here that many people open a basic bank account with a bank they don't have debts to pay their wages into. This is just because banks can choose to reduce your OD limit at random therefore eating up your salary. So this could be a sensible strategy for later when you're weighing everything up.

Ultimately I reckon you need to do a new SOA in the next few weeks. BUT have you got a plan to get you over this short term bump?

Have you got -
Everything you could do on ebay? Including any MrsB stashed gifts / unwanted clothes / handbags / bits of kids stuff / DVDs etc.
Everything out and ready for car boot tomorrow morning?
Have you checked your gas and electricity supplier for overpayments?
Have you got any vouchers? Checked club card / Nectar to use for shopping
Got any other bank accounts with bits and pieces of money in them?
Any money in Quidco / Amazon / cash back sites you could request?
Changed the dates on any direct debits to after payday?
Looked on here for any of the free offers with cash back incentives? (E.g. Lovefilm?)

Can you -
East exclusively from store cupboard and freezer when MIL is gone?
Do a low cost shop for this month?
Call any other suppliers mobile, landline Sky and threaten to leave to get a lower monthly payment?
Any bits of work you could do in your spare time for extra money? Tuition? Helping out mates?

psychopathbabble

MrBloater wrote: »

PPI is the elephant in the corner. I'm really unsure about this one. I did have a loan from my bank starting back in 2002ish and I know it had PPI on it. However the following things are making me hesitant about claiming.
1) I don't have statements or paperwork going back that far so have no way of knowing exact dates/amounts
2) The bank have been brilliant with me, took me on back in 2000 when nobody would touch me (the late 90s Bloater was not very clever with money either) and I have a substantial overdraft with them, a current unsecured loan , my mortgage through a subsidary of theirs and a credit card. Now if I claim the PPI back who's to say I won't suddenly get my OD limit cut etc??

I bank with the company I claimed my ppi from and they didn't do anything to my accounts or credit cards. I just made one phone call to find the account numbers and then rang their ppi complaints line and within 6 weeks i had a cheque in my hand.

the ppi should be a completely separate issue.

short_bird

I hear it's another free listing weekend on fleebay, is that any use to you?

Lara's come up with some great ideas for you, the gas and electricity Direct Debit is a good one as we are, theoretically, heading toward summer and a time of less gas usage. I know the suppliers see this as the time in which consumers pay off any outstanding sums and get some money in the kitty for the winter. There is also the view that the suppliers get interest on your money - and probably at a higher interest rate than consumers can get (rolls eyes) so get any surplus back from them to you where it will be more use;)

So get a couple of readings, check those against your last statement and call or email the company. (At the same time, and if it isn't going to stress you too much to find the previous statements, check that you've been billed using actual readings taken by a meter reader within the last couple of years. Suppliers are obliged to read your meter every 2 years and this would be a good time to sort it out.)

Anyroad, have a good Easter and don't stress about the MSE way of doing things, I'm sure everybody on here has had some experience of a similar situation.

Does Mrs B get any sort of assistance with her gluten free way of life, BTW?

custardy

dont forget the free money offers in quidco/topcashback
not instant money,but it will come
eg a free trial of Netflix gives £15

Northern_Lassy

Just sending a bl**dy big Northern hug for you big fella xx

taxi73

Some great ideas there and you sound a lot more positive.

chevalier

Mr B
If you have done a budget, but still not covering all of the outgoings, then the budget needs to be rejigged. Hence me giving you the link to the SOA calculator in my previous post.

Ref the DMP I can understand Mrs B having a problem with work if she went bankrupt or did an IVA as they are formal agreements, but a DMP is voluntary on both parties sides. It might be worth checking.

Also are all the debts joint? If not it is possible for YOU on your own to do a DMP for your debts....

good luck Mr B we know you can do this,

And taxi go to bed woman!
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