Some advice please

glitteringgem

Hi

I need a little advice please, having a bit of a nightmare at the moment as I have been told that I will be made redundant in a months time, I have only been at the company for 17months so will not be due any redundancy pay - in some ways leaving is a relief as I have not been happy for a while. But the pay was good and it is close to where I live. Looking at the job market it has become apparent that I may have to take a substantial pay cut.

The problem with this is that I have been rubbish with money, currently have very bruised legs from the kicking I have been giving myself. I have a DMP with B&E for £260.00 a month and have been thinking of swapping to a free DMP for a while, what has held me back is that I have been a bit naughty and spent on 3 catalogues. I know, I know there is no real excuse but I find I spend when I am feeling down and I have been feeling down for too long now.

So....
Will I be able to stop my DMP with B&E and swap to a free one? Will I able to add my catalogue debt to this?
Do you think I will be best to wait until I have a new job so I know what I will actually be earning?

Thank you for any advice my head is spinning at the moment.

RAS

I suggest that you send B&E notice to quit.

If you do not get a new job, you are going to need to review that DMP in a month's time anyway.

Whilst you are out of work, pay a nominal amount (write to the creditors yourself). Then set up a new DMP when you get back in work, with a debt charity.

And stop using the catalogues. Bin them today.