Budgeting Service?

AngelPie78

no that's ok. my contract has still got 18 months left and food is NOT the issue. I can shop for all of us for around £30 a week as I try to cook from scratch and stick to pasta/rice dishes a lot. I was just trying to average it all to include meals out or extra expenses with food.

Also, this is a "typical" month. I have NEVER had a month like this at all. My money just doesn't come in and out as perfectly as it's written down here. If I can get to the 28th April and owe NO money from now until then, then I feel confident that I can make a plan and stick to it. However, it's never gonna happen because I don't have enough from now til then to pay my bills so I'll just end up using the loan to pay off everything from now til then that I owe and so the cycle begins again. Same old, same old...but thanks for trying x

AngelPie78

Paulaviki wrote: »

If you can't afford your rent this month, surely the best place to start is speaking to the landlord? See if you can come to an agreement with them?

I already owe him two months' rent. He won't evict me, but he won't be very happy if I don't pay it. I don't know what agreement I can come to, other than I'll pay him in April, which then brings me back to having to pay money from my loan for things in March/April rather than June onwards...back in the cycle again...

Thanks though x

dreaming

I have a great deal of sympathy for you as I can see you have got yourself into a real state over this. However, there is help available but it is not going to be a quick fix. You say you have spoken to debt counselling services. Have they discussed a Debt Management Plan with you? I know you are concerned about the immediate problem of paying rent etc. but if he will let you put off paying until you get your next student loan payment then ask him. Places such as StepChange (a charity) will help you, and can get certain debts frozen (or even written off in some cases). Personally I would forget about the holiday. I know you feel you are "losing" what you have already paid but if it is going to cost you £900 (plus spending money?) then it is not worth it.
I understand that you feel at the end of your tether but please try to accept the help and advice given instead of thinking that no-one understands, or that you can't help yourself.

AngelPie78

dreaming wrote: »

I have a great deal of sympathy for you as I can see you have got yourself into a real state over this. However, there is help available but it is not going to be a quick fix. You say you have spoken to debt counselling services. Have they discussed a Debt Management Plan with you? I know you are concerned about the immediate problem of paying rent etc. but if he will let you put off paying until you get your next student loan payment then ask him. Places such as StepChange (a charity) will help you, and can get certain debts frozen (or even written off in some cases). Personally I would forget about the holiday. I know you feel you are "losing" what you have already paid but if it is going to cost you £900 (plus spending money?) then it is not worth it.
I understand that you feel at the end of your tether but please try to accept the help and advice given instead of thinking that no-one understands, or that you can't help yourself.

thanks so much you've made me feel better...

I've spoken to StepChange and they recommended that I declare myself bankrupt (!) They also tried to help me apply for grants/loans but couldn't find anything to help. I used their help to write to all my creditors and asked for small payment plans (of £1 a month) or to hold the debt til I graduate in 3 years. None of them went for the option (surprise, surprise but it was worth a try!) and a couple said i could pay £1 a month, but I got in yet another pickle and didn't even manage to keep that up. The rest said no and continue to chase me on a daily basis... but thanks for the advice and understanding x

tiger_eyes

dreaming wrote: »

Personally I would forget about the holiday. I know you feel you are "losing" what you have already paid but if it is going to cost you £900 (plus spending money?) then it is not worth it.

Agree. I know it must be frustrating to write off the £900 that you already spent on it, but I think you're falling into the sunk costs fallacy. Forget about the first £900 - it's a sunk cost and can't be recovered. By cancelling the holiday, you're saving yourself the second £900 that you would have spent on it, making you way better off.

AngelPie78

Also the Debt Management Plans are all very well, but it just goes back to not having the money now and putting everything "off" until April when i get my loan. Then I'll have to pay all my rent with the loan money, so that'll be used up and I'll be back in the same position as I am now. It just seems pointless to worry about debt when I can't pay anything else...x

AngelPie78

Espe

tiger_eyes wrote: »

Agree. I know it must be frustrating to write off the £900 that you already spent on it, but I think you're falling into the Forget about the first £900 - it's a sunk cost and can't be recovered. By cancelling the holiday, you're saving yourself the second £900 that you would have spent on it, making you way better off.

Yeah have kind of come to that conclusion :cool: never mind...especially as i don't have £900! x

getmore4less

AngelPie78 wrote: »

so what will solve my issue then?

Bearing in mind the whole "i don't have enough money to pay my rent this month" is my main issue at the moment?

How is being debtfree in the LONG term or applying for more benefits (which I've already tried) going to HELP?

First thing you can do is try to sell the holiday and forget spending another £900 on it.

Another option
(no expert that's why you need to go to the debtfree board they do short term stuff as well)

Stop paying the rent you can't afford it, will take them months to kick you out then the council will have to house you.

edit : see others picked up on the holiday.

Little_Miki

Can you not sell the holiday??

getmore4less

AngelPie78 wrote: »

Also the Debt Management Plans are all very well, but it just goes back to not having the money now and putting everything "off" until April when i get my loan. Then I'll have to pay all my rent with the loan money, so that'll be used up and I'll be back in the same position as I am now. It just seems pointless to worry about debt when I can't pay anything else...x

Don't use the money for rent that does not solve the problem.

That's where the longer term plan comes in, the debts will have to wait and gets what left(if any) when the essentials have been paid.

This needs a proper look as the self imposed DMP(just not pay) will probably never work so unless there is a serious chance of a large increase in income the bankruptcy option may be a serious solution going forward.

The people that know this stuff frequent the Debtfreewanabee board.