Struggling

superchickadee

Hello everyone,

My first post on here and I would love to be debt free but each month I seem to be spending on credit cards just to survive.
My tax credits have gone down from £100/week to £30 and everything has been going pear shaped recently (car went kaput etc) Natwest have messed up my transfers and I've had to pay loads for 2 months now.
I am always full of good intentions but money seems to fritter away so easily I don't know how to take control
I'm waiting to hear about a job but am worried that it won't cover the costs of putting my daughter into nursery more so I can do it. If I work over 16 hrs they wont tell me how much they will contribute to her nursery charges until I'm doing it.
Any advice on where to start would be greatly appreciated.
We're going to try to get a mortgage soon and although my hubby has a good credit rating and wage, I have all the debt in my name so not sure if we'll get a mortgage or not?? My credit isn't bad or anything, I just have a lot of debt.
Thanks xxxx

HeadAboveWater

Hey

Well done on posting! First step over!!

Don't panic that your TC have gone down. I'm sure there are maybe ways you can cut back on spending each month with difference in money coming in. Post your SOA and we can have a look and see if we can help

Good luck!

Cynical_Monkey

superchickadee wrote: »

Hello everyone,

My first post on here and I would love to be debt free but each month I seem to be spending on credit cards just to survive.
My tax credits have gone down from £100/week to £30 and everything has been going pear shaped recently (car went kaput etc) Natwest have messed up my transfers and I've had to pay loads for 2 months now.
I am always full of good intentions but money seems to fritter away so easily I don't know how to take control
I'm waiting to hear about a job but am worried that it won't cover the costs of putting my daughter into nursery more so I can do it. If I work over 16 hrs they wont tell me how much they will contribute to her nursery charges until I'm doing it.
Any advice on where to start would be greatly appreciated.
We're going to try to get a mortgage soon and although my hubby has a good credit rating and wage, I have all the debt in my name so not sure if we'll get a mortgage or not?? My credit isn't bad or anything, I just have a lot of debt.
Thanks xxxx

The last thing you should be doing if you're struggling with debt is buying a house.

As an aside, HeadAboveWater's advice is the way forward. Get your statement of affairs up so that we have a better idea of where you are financially.

superchickadee

Erm how do I put all my debt on the bottom of each post?

I'll do it here for now!
natwest £6000
Post Office £2359
Virgin £3671
Barclaycard £900.

I already have a mortgage on a house that I rent out (currently trying to find a tennant) which is £69K

We need to get a mortgage because my parents bought a house for us to live in but we were meant to buy it from them at the beginning of next year, I really need to do this as they did me such a huge favour getting us this house in the first place.

My Financial Advisor said it wouldn't be a problem to get a mortgage, we're currently paying the mortgage my parents took out for us anyway so our outgoings wont be affected by buying this place, if you see what I mean?
Life is much easier when the other place is rented but they're taking ages this year to get it rented and I just can't keep up paying for 2 houses for much longer.
I can't sell it, the auctions say I won't get enough to clear the mortgage.
I wondered if I went bankrupt and gave the house to the bank, would that affect my husband being able to buy this house?
Or an IVA or something?
Thanks so much for your replies
xxx

Heffi1

superchickadee wrote: »

Erm how do I put all my debt on the bottom of each post?

I'll do it here for now!
natwest £6000
Post Office £2359
Virgin £3671
Barclaycard £900.

I wondered if I went bankrupt and gave the house to the bank, would that affect my husband being able to buy this house?
Or an IVA or something?
Thanks so much for your replies
xxx

If you go to the top of this page and click on User CP it will take you to your options, down the left hand side there is an option to set a signature, write down the total there.

As to bankruptcy I would imagine this stopping you getting a mortgage for a long long time, so it is very important to work this out first, also if you went bankrupt, you would probably have to sell the house(s) to clear the debt, you really need to speak to a qualified person to make this decision, CCCS have people who know the ins and outs of it so I would give them a ring and see what they suggest, as a DMP might be better for you.

jaydensrara

tax credits should pay about 80% of your nursery fees