help! in major debt at 18 with 2 children too..dont know what to do!!

liamsmum05

i just want to say a huge thank you to everyone that replied here on my post and to the money saving expert forum and site..after reading everyones replys and through the site about debts, ive now set up a few monthly/fornightly payments plans with my creditors and even paid some off!
im now budgeting my money seeing what comes out when etc and money saving as much as possible..
im now nearly 20 (wel march nxt yr lol) and expecting my 3rd child much joy to me and my partner, now we are financially back on track i hope to be out of debt fully thats the whole 4500 pound i owe paid off within 3 years with the help of my partner!!
so thank you all and good luck to everyone else
di xx

gems2381

Congrats on the new baby (when's it due?), and well done on getting things sorted for yourself!

liamsmum05

due 31st jan im 23 weeks gone now..found out we having another little girl soo excited hehe :-)
my next major task is money saving with children lol il let you know if i manage it!!

SPANIEL36

hi, i've just caught site of your thread and give it a quick read. WELL DONE!!! you sound so much more positive than you first did and no wonder, new partner, new baby on the way and some of your debts paid off.

how about giving us some more details of what's been paid off etc and how, it will give the rest of us a bit more motivation. If you post an up to date SOA we'll be able to see how well you've done

Congratulations again

spaniel
x

inmypocketnottheirs

Hi Liamsmum. Have sent you a pm.

liamsmum05

where do i start!!

i wrote myself up on the computer a financial statement including everything i had coming in to everything i had coming out and my leftovers after the regular outgoings had been paid

i then wrote letters asking if i could make monthly payment plans with each of my creditors and offering them roughly around £5-10 a month (anything was better than nothing at the time) so my high balances are now getting lower yyeeeyyy!!

most agreed but some declined and said they want payment in half or full even after seeing my financial statement!! so some stil havent got a penny.

i had to take out another loan with the social to pay money towards a few which did help me so much!!

i managed to set up a monthl;y payment plan of £1 with my sons book club with grolier and i now only owe £47 out of £100 and something!

i cancelled direct debits and standing orders to sort my finances out,
I EVEN OPENED A NEW BANK ACCOUNT WITHOUT AN OVERDRAFT CHEQUE BOOK ETC
so now i have a bog standard easycash account with halifax and have incurred one charge so far which to say isnt far too bad considering my charges from natwest have left me owing them £956!!! but they arnt getting a penny til i find out about these charges and claiming them back as i had one offer from natwest and accepted but now everything is on standstill!

i also changed my elctricity and gas to npower and have a set price of paying £38 for both a month by direct debit.

i only top up my mobile phone by £10 a month to get my free texts as i was spending upto £30-40 a month, i also changed who my home phone provider was to save me money on calls and had mobiles blocked!

to save money on shopping i now buy at tescos and mainly get value things and bogof offeres etc..

i had a major clear out in my house and sold most of my things on ebay and made over £200 in 2months which when you have nothing is alot!

i also instead of spending money on things i needed i made sure i checked my freecycle site out and have had loads off there.

when i had abit extra money i made sure i payed my very small debts off ie anything under £100 to clear them.

so long as i kept in contact with all my creditors to let them know what was going on i was ok..and the threatenng letters calmed down just not the phone calls grr..

so yes everything is getting there but not 100% but if i keep at it like this im aiming to be debt free within 5 years which could be likely possible!!

ive also earnt money from doing things online ie surveys,ive even exchanged my points via surveys for goods to sell on ebay and make money that way too..dont know if your allowed but oh well lol.

cant think of anything else at this moment in time but wil let you all know what else i have done xx

mystery07

A big well done Liamsmum.

And Congrats on the new baby. Pleased your sounding so much better & more positive.

Keep us all posted

xXx

Snaggles

Congratulations, sometimes people post on here and then disappear, and we never find out how they have got on, so it's lovely when someone comes back and has managed to turn things around. Your whole attitude sounds completely different, so positive and determined.

And congratulations on the new baby too. I'm sure you know that if you have suffered from PND in the past, you may well be prone to getting it again, so please, if you feel any hint of it at all, get yourself to the GP straight away.....your partner can help here, as he will probably notice that you are 'behaving a bit funny' before you realise it yourself (I'm speaking from experience, I had PND with my first baby, so hubby is on PND-watch this time around, with strict instructions to march me off to the doctors if I so much as look a bit fed up....lol).

elantan

i totally back snaggs up it's great when people come back and let us know how they are doing you have turned your life round liams mum you can see that just by reading your first and last post taking the money away from it even its a positive post ...i wish you all the best for your and your families future

hypno06

Good to see that you have really grabbed this with both hands and have made fantastic progress.

Keep on posting, and keep up the good work x