Don't Know What to Do - Please Help

dancingfairy · 15 July 2012 at 11:52AM

Unfortunately I think your debt may well have to go up before it goes down. This is because I think you will probably need to pay the nursery fees in order for your OH to go to work to get more money in?
I woul suggest trying to come to some sort of arrangement with them but if you are already owing 1 month then this may not be possible. Can you family help out at all - even if they can help at all with childcare/cost of childcare in the short term until things settle down again? Otherwise I think you will need to consider the cheapest way of funding the extra borrowing

Hope you can sort something out.
df

klfairy · 15 July 2012 at 12:08PM

I have switched energy suppliers, saving about £122 per year. Every little helps, right?

I forgot to account for the fact that we do have about £220 in the bank already, which helps a fair bit! We can use this to keep nursery and everyone else off our backs, I hope. Nursery shouldn't be a problem.

Childcare is (always) a difficult one. The only person we could ask to help out is my MIL, and she does for odd bits here and there. We can't ask her to do anything more really. Everyone else lives too far away.

I think it's just going to be a (very) tough month and we'll have to hope OH earns well and we can get a DMP sorted sooner rather than later. I think that's the way forward because otherwise there's a risk our debts will just drag on forever. We both have the opportunity to earn extra money here and there, which we can then use to pay off bigger chunks.

I appreciate the advice, folks, thank you. And thanks for not lecturing!

Toomuchdebt · 15 July 2012 at 12:40PM

Could work not just underpay you by 100 a month until what you've been overpaid has been paid off?100 a month might be doable and at least that way you know what you're budgeting for.