New and in serious debt - Advice on which way to turn please

Bakeybadoo

Oh and I ETA my original post, I forgot Provident at £100 month.

So, we have spare income of £274.

magni

Bakeybadoo wrote:

It is high but we have 2 kids in nappies, 1 on formula and eating solid jars.

Why not make your own baby food? It's so easy, much better for baby and much cheaper. Why not switch to cloth nappies? This will save you a fortune and you can pick them up 2nd hand on eBay for reasonable prices. Also try using cloth wipes. Just wet and wipe. Saves a fortune on the manufactured ones and better for baby's btm. You can cut up old towels or anthing you have no use for to make your own.

Welcome to MSE and good luck:D

julesgr

Convection heaters swallow electric, last winter our electric bill was almost £350 this year it's more like £60 for 3 months, we got a calor gas heater from freecycle and we have that on in the living room and a small halogen heater on timer plug in the bedrooms. The gas costs us approx £20 a bottle which lasts 4-5 weeks.
We use one low energy lamp in the living room and have no lights on anywhere else in the house unless we're in the room.

moongarden

welcome to the board and well done for starting the climb back up - its not an easy journey but there are plenty of us on the same route to keep you company.

when i had my lightbulb moment and finally dug my head out of the sand i also had a car on an HP agreement. you said they were going to take the car away this month.
there are a few things you could possibly do about this such as voluntary termination. to give further advice on this we would need to know:

how much the loan amount was for the vehicle
how much the total interest over the whole time of the loan is
how much deposit
how much monthly payments are
how many months you have paid

also you could try ringing your mobile phone company and tv channel company and explain that you are having financial problems - there is still a chance they might reduce these payments
shy bairns get ne cake - ask nicely and best of luck

livinginhope

Bakeybadoo wrote:

We aren't borrowing anything right now. Our outgoing are all from our incomings from wages/benefits.

Your debts are borrowing!


Erm, well, we aren't paying car insurance right now, we are waiting on a dispute over the V5 and the credit company.


Please tell me your car isn't on the road and being driven?

katecheshire

Bakeybadoo wrote:

And thank you already, I'm taking these suggestions on board. I hope me replying to your advice isn't seen as me rebuffing it because it's not. I'm just trying to answer and be honest so I can get the maximum benefit of the advice and help here.

no-one will think that! It often helps to focus your thinking when you have to explain it to yourself as well as to others.

Regarding your car - if they are going to take it back what will you do for transport? Is there some who works with your OH who could give him a lift for share of petrol? Maybe put up a notice at work? Does the company encourage car share scheme (maybe incentives for someone to offer?)

Ebay fees - need to be more selective about what you put on. Check if someone else is selling similar and whether they are shifting theirs? If not- don't bother.

Bakeybadoo

livinginhope wrote:

Your debts are borrowing!

The way you worded it, it sounded like you were saying we were paying for things from our debts (ie: cards) which we are not. If I interpreted that wrongly then I apologise.

Please tell me your car isn't on the road and being driven?

No, not as of this time. We did have insurance, we thought the V5 was in our name but it's not and you cannot get insurance unless you are the registered owner so the company cancelled it.

Bakeybadoo

katecheshire wrote:

Regarding your car - if they are going to take it back what will you do for transport? Is there some who works with your OH who could give him a lift for share of petrol? Maybe put up a notice at work? Does the company encourage car share scheme (maybe incentives for someone to offer?)

No idea what we'll do for transport. We will probably have to get a cheap banger which we are not adverse to doing, just wish we hadn't of 'upgraded' on HP when we didn't have to. Hindsight is such an annoying blessing!

He works in security so it's a one-man thing so no-one to share with but he's looking at getting a job closer to home so we can reduced our petrol amount, as well as the time he takes to travel there and back.

Ebay fees - need to be more selective about what you put on. Check if someone else is selling similar and whether they are shifting theirs? If not- don't bother.

You are right. It's easy to see past the X amount you are spending out when you get the returns but I'm now questioning whether it's really economical.

vics_1982

You get charged even if you don't sell but yes, some months we make £100 or a bit more, some months we sell or make nothing.


Sorry to sound thick but why do you get charged if you aren't selling anything? Have you a shop or something??

Sorry if i do indeed prove to be think
thanks
Vics
x

Sorry, just read it properly, please ignore me.

Bakeybadoo

moongarden wrote:

when i had my lightbulb moment and finally dug my head out of the sand i also had a car on an HP agreement. you said they were going to take the car away this month.
there are a few things you could possibly do about this such as voluntary termination. to give further advice on this we would need to know:

Ok, I dug the paperwork out and:

how much the loan amount was for the vehicle £13,714.92

how much the total interest over the whole time of the loan is 28.2%

how much deposit £101.00

how much monthly payments are £281.54

how many months you have paid Erm, none. We've only had it for 2 months though and we are in dispute over repairs as the car was not fit for its purpose.