At the end of the line :(

greebouk

Hi, I have posted on here before, but never had the guts to really look at our finances. Well I have now and it is not good at all. We have been surviving due to my ohs overtime, which now looks like it is going to end, which means losing nearly a £100 per week. This means we would be lucky to make our basic outgoings, let alone the loans and overdrafts we have.

Our biggest problem is that we have the o/d and loans with who we bank with. Which means if we default, they are going to take payments anyway meant for our mortgage. I know having a different account somewhere else is the answer, but tbh I dont know how we can sort it all out without missing something. I am looking for work now. But in the mean time, what do we do. I am so scared we are going to lose our home, and as I already suffer from depression and anxiety attacks I dont know if i can deal wiht it all myself. It is causing terrible trouble at home, we are rowing all the time and it is starting to have an affect on the kids. I dont know which was to turn

gocurlygirl

good luck,allI can say is reading all the posts on here has helped me and I had felt depressed by everything to do with finance.The bank clark at lloyds did not turn a hair when I took in my bags of pennies etc to go into my account£(14.38) emptied a small savings account and found it may just last until payday.now eating out of fridge and store cuboard and using veg (broccoli and cabbage)from allotment.I may sound quite motivated now but I have dragged myself on and hopefully up at times.
Are there any benefits you can claim?
A SOA would help us help /advise you

greebouk

We get child tax credits and child benefit. Beyond that I don't know if we are due for anything. I am glad to see you are coping.

merlot123

Without seeing an SOA, we can't really comment on your financial situation.

http://www.makesenseofcards.com/soacalc.html

The link above is for the SOA (incomings and outgoings)

To see if you are entitled to any other benefits please use turn2us.org.

It's dark and late and your probably tired, things seem worse at night time, try not to worry, you will get plenty of help on here once you have posted your SOA.

If you chose not to post your SOA, then contact the CCCS, a debt charity in the morning, (google it) they will help you for no fee and will not judge you at all, they are highly recommended by many on this board.

merlot123

ani_26

I hope it all works out for you xx

give_them_FA

I feel for you in your position, the only thing I can say about what you have posted so far is that you need to deal with the mortgage as it's the most important single thing, maybe that will mean opening a different bank account to prevent your present bankers intercepting money for their own loans... if you think you are going to have difficulty keeping up the mortgage its going to be a lot better to show willing and contact the lender and put your cards on the table, see if they can give you any leeway till you find a job, that's better than waiting till you run into trouble. Much will depend on the size of your mortgage in comparison to value of house, is there much equity?

greebouk

We are very lucky in that our mortgage is quite small. We would be able to manage to pay that. I dont know how to open another bank account and put money in there ready for the mortgage as we dont have any spare at all right now. I will post my SOA later on today. Need all the help I can get right now
thanks

DS4215

It sounds like you have a little time before the OT ends - if if just next months salary. Open a new basic bank account (without overdraft but allowing direct debits) at a bank with no financial links to you then arrange for benefits and his wages to be paid into there. At the same time, contact your priority debts (mortgage, C Tax) and transfer the DDs over from after his wages go in. Some banks even offer transfer services to help the move and incentives for moving (depending on salary).

If you are quick you can get it all sorted before the ot stops. In the meantime, knock up a SOA (even if just for yourself) and try to make your budget fit into your income (his basic wage and any benefits). Also, look into whether you qualify for any other benefits.