Help......

Ox1987

It would be and i am looking for additional second job work, however i am scared that my general bills are actually becoming too big for my salary. If something changes i.e. Gas/electric goes up then the budget is blown
What then is that the time to hand back the keys and go BR and at that point what about my kids

merlot123

I have read both of your threads, you need to keep calm and realise you are not the only one with 3 children who is in debt and are struggling. Most of us want the best for our children, but if your posts are anything to go by, you are giving vibes of being stressed and panic striken, children pick up on these things.

Your children will not care one bit (they are under the age of 7) about money or the lack of it, the DMP figures will give you a little money over to give your eldest a little pocket money.

You didn't get this level of debt overnight, you will not repay it overnight either.

Keep Calm and carry on with the DMP, it may take you 15 years to repay it.

A DMP is flexible, as you have been told several times before, if your bills go up, you can call your DMP provider and ask them to amend your repayment figures.

I do think you need to chill, or if you are experiencing low thoughts due to the situation, please go and see your GP.

Sleep well and stop worrying please.

merlot123

tigerfeet2006

If you decide a DMP is best for you at the moment then pop over to the Debtfree Wanabe board for help and support from there.

If after doing it for a while you then want to go down the BR then pop back here. There are plenty of people with children who have given up their homes to go into rental. What you would do is stop paying the DMP, the mortgage and any secured debts, save the money for rent, deposit, moving costs and BR costs and then find a rental to move into, then take it from there.

All the best with what ever you decide.

Ox1987

I agree but I am concerned that I would have no income if I was to decide to go BR as my career would be ended. How old are you kids i am concerned on the impact of all this on mine that is all i can think about

tigerfeet2006

Mine are 11, 7 and 5 and I came to this board for help in 2006. We have had our ups and downs since then but we have survived and come out stronger. My DH gave up work and has trained for a new career, we had our third (miracle) child and have emigrated and our lifestyle is very comfortable. Taking the stress away meant my DH was a much better Dad and husband.

Ox1987

thats what i was thinking should i give up and retrain
did the br impact the kids when it happened, we would poss have the a repossession to add to it if we went that way. i agree though would they get their dad back

tigerfeet2006

Well we lost our house due to a business going wrong and were in a B&B for ten months in one room. We were together and that is all that mattered. You have a chance of finding a good rental to move to before losing the house. The children don't need to know about BR or anything like that, they just need your love.

Ox1987

What did you DH do and then retrain to. Where did you go after the B&B

Iam concerned that we would have no income as i would not be able to work due to BR and hence what will happen
A repossesion and BR would mean no home of our own again

tigerfeet2006

He was a manager and retrained to be a teacher. We eventually got a housing association place after a very long and awful fight trying to prove we had not made ourselves intentionally homeless. We went from a lovely Victorian semi with a huge garden and lovely rooms to a ground floor flat that was half the size and a small garden but it didn't matter to the kids as they had their Mum and Dad and we were together as a family and did things together as a family. Kids are adaptable.

You have time to find a nice rental in a good area,that suits you and your family. If you lose your job then there are benefits that will help pay the rent etc. you have time at the moment to get all your ducks in a row and do your research so you can help control each step of the way as much as possible.

Ox1987

Interesting I was thinking that myself f you dont mind me asking at what age did he retrain and how did he do it. What qualificaton and how was it funded I have thought of doing them same

Did everything have a happy ending eventually my fear is never being happy again