Suffered a blow, but will get back on track

jennyjudd

My husband and I are in quite a bit of debt, we have 3 credit cards, and a bank loan, but he got made redundant from his, rather good, job about 20 months ago. The money came in handy, we paid off our debts and got married.

Little did we know that by becoming a family and him getting a low paid job, we would be thrust into even more debt.

Tax credits took 8 weeks to arrive, so we lived on credit cards, i suppose you know the story, blah, blah, blah.

Any way, we have 5 children, live in our lovley council house and should count our blessings, but for today I'm going to count our debts.

We have £6878 to pay on our bank loan.

£1800 overdraft.

£9,980 Mastercard

£1600 MBNA card

£700 Visa

And as if things aren't bad enough, we had a letter from Tax Credits office last week, saying they have overpaid us, and they've stopped our money!

The bad thing is they haven't taken into consideration the information I gave them a few weeks ago.

Namely that our income is over £5,000 less for the year than they had based it on.

I phoned them on Friday, they have now made sure they info is updated on the system,

BUT...

It's going to take 2 - 3 weeks, because of the time of year, to sort it out.:eek: That means no money for 2 - 3 weeks!

In the meantime, we cannot afford to pay our bills! So we're going into arrears!


ENOUGH IS ENOUGH.:mad:

I HAVE MADE A DECISION, NO MORE POVERTY!!!:mad:

I have listed our debts on here, and one by one, I am going to sort them out.

As soon as they sort our money out, I will be throwing it directly in the path of our debt.

A plan is hatched and I will see light at the end of the tunnel.

I will sleep easy at night again, and I will not get into a blind panic when the post arrives.

I will not take out more loans to cover for my debts, I will never borrow again.

aliG_3

Hi Your post sounds really positive Good luck. I feel like that at the minute and have cut our spending down to a minimum i thank all of you on this website for inspriring me so much.

Bogof_Babe

Jenny, would you like to clarify, as you have 4 kids on another thread you've made today? I'm sure it is just a typo on one of them. Best of luck with your challenge anyway, this is the right place to ask for help.

Bambywamby

Well done on tackling your debt, it's very liberating once you can see that light at the end of the tunnel.

Good luck X X

Snaggles

:T Well done, you sound really positive. Before you even get out of bed tomorrow, remind yourself of how you feel now, and then go downstairs and tackle whatever the postman brings. Keep us up to date with your progress and we will try and help as much as possible if you need any help or advice. Good luck!

jennyjudd

Bogof_Babe wrote: »

Jenny, would you like to clarify, as you have 4 kids on another thread you've made today? I'm sure it is just a typo on one of them. Best of luck with your challenge anyway, this is the right place to ask for help.

Sorry, I've got 5, all girls, 4 of them mine, 1 my husbands, one is grown up though.

feel a bit vulnerable now though!

Sorry to confuse anyone!

Snaggles

Might be 5 kids but only 4 living at home?

Sorry, cross posted!

Uniscots97

Why not post your full SOA (statement of affiars) and we'll see if we can help? There's a sticky at the top of the board that'll help you write out your SOA.