Help!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

puggy

I dont know where to start

We are currently 48,000 in debt paying £1.00 (only started this month was paying through EURODEBT previously) and can not see the light at the end of the tunnel

We need help

Thought about bankruptcy but with my new job at my local council this is out of the question if I loose that job there won't be my wage coming in!!

I need help desperatly

hypno06

Hi there, first of all welcome to DFW!

Have a read through of Southernscouser's sticky at the top of the board for "first time posters" and see if you can put together all the info in an SOA, then the good people of DFW can see if there are any ways we can think of to help.

Also, bankruptcy may be your best option, but it may not. Have a look at Payplan or CCCS - their websites are given at the top of this board under "problem debts", I think. They are charities so will only give you the advice that is right for you. NEVER go to one of the companies that advertise on the telly.

You have made the first step on your journey to becoming debt free. Stick around and you will get lots of support here.

puggy

Income

Me 1250.00
Husband 1100.00
Child Benefit 71.00

Rent 620.00
Council Tax 125.00
Water 11.25
Gas 35.00
Electric 35.00
Food inc. Nappies 200.00
Tv Licence 11.73
CCJ 10.21
Petrol 280.00
Telephone & Internet 40.00
Childminding 450.00
Car 179.21
Tools (for husbands job) 80.00
Mobile phones x2 60.00 contracts end in 6 months
DEBTS @ 1.00 A MONTH 25.00

TOTAL IN 2421.00
TOTAL OUT 2162.40

leaves 259.00 never that left tho????


Have not includes weekly or monthly savings as have not completed full budget plan yet

How will my work find out about me going bankrupt do they get informed?

moonlightpjs

Hi there

have you checked www.entitledto.co.uk to see if you are entitled to any tax credits as I couldn't see this in your SOA.

puggy

I FORGOT THEM I ONLY GET 30.00 A MONTH

MY MISTAKE

hypno06

You need to keep a spending diary I think to see where the "surplus" money is vanishing to. This will help you realise what you can cut back on easily and you may find you have £250 ish available to pay off the debt.

As for bankruptcy, this is published in the newspaper, so your employer may find out that way, even if you don't tell them.

I would guess that a little cutting back and focus, and something like a Debt Management plan run by CCCS or Payplan would be more appropriate for you. Have you had a look at their websites? www.cccs.co.uk would be well worth a look for you.

millionaire_in_training

Poor you the childminding is a killer isn't it but at some point in the future it will get less. I'll never forget the time I had to hand over more than £700 in one month to get my kids watched during the school holidays. I cried the whole way home. Only paying £80 per month now. I also remember thinking this huge expense would never end but it does get less and finishes eventually. Spend lots of time on here reading other folks posts and it will give you the impetus to get organised and get started. Good luck!!

In_Search_Of_Me

Firstly welcome! Secondly try not to panic! I know its hard not to at the start but dont make ANY rash decisions. Re bankrupcy it depends what your job is in the council as to whether it would impact on your job but if there is money left over there is hope, although you dont say whether you have entered into any formal agreement or what the debts are. The best thing to do is contact one of the free debt agencies and seek advice and while you are waiting see what can be saved & where; what can be sold on ebay & where you could make more money. Keep posting here & look around the site at the old style board, utilities links etc and you should be able to cut back in places. Remember too that bankrupcy is the last option and there are other options available (IVA/DMP etc) BUT dont be tempted by one of the TV ads cos they're out to make dosh! Get hold of the free ones! Big hugs for you!

sira_2

Hi, last Thursday i put my first post on here and i am in exactly the same position as you. I am currently £38,000 in debt and work for the government. Like you, i could not see light at the end of the tunnel. Thank god for all these good people on here and the good advice they gave me, but not just that it has been some comfort knowing i'm not the only one out there with problems & there seems to be others in a worse situation. I followed the advice of Southernscouser and spoke to the CCCS and just in the nick of time it seems. I had just applied and been accepted for a consolidation loan and was so close to accepting it knowing hat really i couldnt afford it & the chances were i'd have eventually ended up in debt with that too and lost my house. I am currently awaiting my package from the CCCS. I applied online and did their questionaire stating all my outgoings/incomings & they have come up with a plan for me to start repaying my debts. Worse thing is its going to take forever good thing is i finally feel there is hope & im going to get my life back. It will be a struggle but i plan to do everything i can get to get the debts paid off sooner than they say. As for the employment situation they did tell me if i were to go bankrupt this could cause a problem & worse case senario i could lose my job. She told me to check my contract to see if there was anything in it. To my relief a. i dont have to go bankrupt & b. there was no clause in my contract. I also checked the conditions of employment handbook at work just to make sure, so maybe you should do that. Believe me i know exactly what you're going through at the moment, i dont sleep & lost half a stone in 2 days, my poor kids think theyve got a monster as a mother. I'm hoping this will be my last month of feeling out of control & things will only now get better. Hope this has been of some help and things will sort themselves out for you soon. Do try the CCCS though they're great. CCCS - Free Debt Advice from the UK's Leading Debt Charity Thinking of you.