Pinot's Potty debt free journey!!!

suburbanwifey

You poor love PG, wish I could do more than send only a hug. I hope there are brighter tomorrows out there for you, I have no idea what to suggest. I know others that owe you money for work you have done and they fail to pay their invoices makes my blood boil xx

grannyx2

Oh Mrs PG my heart bleeds for you, I so wish there was something I could do or say.

I would tell DD1 that you love her very much and will celebrate her birthday later in the year but for now it has to be IOU. As for family, tell them you are away for the weekend.

Get what money you can out of the bank and go shopping for essentials with cash.

The OTHERS can wait for the VAT, just file your return so you don't have a penalty. They will charge you interest on what you owe but can wait a bit longer for it. As can THEY too.

When you next get some money you need to prioritise it. Car tax is second on the list after food and then mortgage and council tax. Put predators last after THEM and the OTHERS, (sorry you probably know all this).

It really is awful that you are in this situation when you work so hard. When does the current contract start paying? Hope it's soon

Lots of love and very big Granny hugs x

kerri_dfw

Oh Mrs P I have some glitter and a stamp if you would like it. I bought it for Christmas but never used it. It's silver, I might have gold too. I'd happily send it to you to put a brief smile on your face.

I don't know what else to say other than I'm sending you a massive virtual hug. Have you looked into whether there are any food banks near you? These could provide some relief for you if there is one xxxx

Skint_but_Optimistic

This is a horrible situation and other than selling the house - knocking the dancing on the head and other horrendous things could you sell a car and get a cheaper one? You need food!

Could your parents host the event? I know what its like to be depressed about money and its the absolute pits. Thinking of you.

Hopelessly_Hopeful

Sending a hug over PG. {{{{{ Hug}}}}}

Do you know how much money you are owed and what the projected costs and income is for the next few months? You can't carry on like this, pressure just sounds immense. A really accurate picture will help you to revisit the options.

HHx

*Robin*

Hi MrsPG,

Just de-lurking to offer a virtual (((hug))) (not the dodgy MSE one!).

Has this recalcitrant company that owes you for work done, exceeded the time for payment of accounts as per the contract you have with them? ..If so: Letter before Action; no messing. Creditors who make a fuss have a better chance of getting paid promptly.

You may have missed a trick when they'phoned offering more work - practice saying "Sorry, I believe you have an outstanding bill?" - in case they call again.

As to what to do here, now, today. Much harder. You have managed to share your situation with us, unfortunately the only thing I can think of is to approach the person you trust most [ditto them you] and tell them what you've written above.

Speaking as a Mum, I would be heartbroken if I later discovered that any of my kids, step-kids, in fact anyone I care about in RL, was in your position and didn't ask for help. Even if I was broke, my CC would be shoved in a hole-in-the-wall right away!
It's not as if you are a bad risk, although for my family I'd do it anyway.. At least to get food in the cupboards and the kids' immediate needs met (including the birthday).

Slightly longer term, you need a cushion to help your business ride out the recession. From what you write, it is a perfectly viable concern that is being squeezed by bigger players - you deserve to be able to hang on until the economy improves, which it will. Eventually.

Have you looked at peer to peer lending? Martin's article [ http://www.moneysavingexpert.com/savings/peer-to-peer-lending ] is canted towards investors, but it could be worth finding out if one of the three companies that do it would accept you as a borrower?*

kerri_dfw wrote:

Have you looked into whether there are any food banks near you? These could provide some relief for you if there is one

Think one has to prove receipt of certain benefits in order to access foodbanks, sorry.

Right, back to lurkdom after one more (((hug))) MrsPG. Chin up, you have a wonderful family who are worth never ever giving up the fight for.. You can get through this.. We're all behind you - imagine the might of MSE peering over your shoulder when you speak to the company that's giving you such grief.
(*If you follow up this suggestion, please pm me).

kerri_dfw

Mrs P, maybe you could turn to the CAB....they might be able to advise if you are eligible for the social fund....as you have no money coming in at the moment (not until they pay). I've never used it so have no idea, but I do know it's there and asking wouldn't hurt anyone and it might help feed mouths xx

cazmanian_minx

Mrs PG, have you looked into using a factoring service for your invoicing? Most of the high street banks offer it - here's a link to the RBS service: http://www.rbsif.co.uk/invoice-financing/factoring

Basically they advance you the invoice money (up to 85%) and they'll collect it from your customers and pass on the balance, less their fee. Essentially, they act as credit control for you and because they're not emotionally involved with the customer, they're usually pretty good at getting results (which is why you need to go with a reputable company rather than one which will extract money by threatening to break your clients' legs...)

It'll cost you a percentage of your turnover, but might be worth it for a short while just to improve the cash flow situation. You can tell clients that you're doing it because you're too busy with work to be able to chase up late invoices and it's a better use of time and money to outsource that part of your business

HappyNow

Sorry things are so sh*t right now. I'm trying to PM you but your box is full - can you clear a bit of room asap? x

Alice_in_Poorland

Sorry to hear that things are so tough at the moment, I can't add any advice on the financial side of things but agree with the posts about DDs birthday. Please don't let the family put you under anymore pressure, and I'm sure DD will understand.

We are all hoping and wishing that some money starts coming in. xx