Help! I need somebody

mo1_2

hi,have you any bank charges you can claim back?

joeblack066

My outgoings are

Mortgage - £1200 Is this repayment? Could you switch to interest only for a while to ease the situation until your partner is able to earn more?
14k loan - £200
17k loan - £280
Food - £400 Seriously you can bring this down, even if you account for nappies and formula, you shuld be able to reduce it by £150 pcm
utilities - £80
Car - £180 Consider handing this back if you have passed the halfway mark. I have, and it's made a world of difference. Join a breakdown organisation and buy a cheap runaround.
Phone - £40
Fuel - £30
Car ins - £40
C/cards - £75

There are 3 issues here to my mind. 1 - your outgoings are too high, I'm sure there are savings still to be made. If you can cut the £150 off your food bill, that will help. 2- Your income could do with raising to try to meet the outgoings. Have you ANYTHING that you can ebay? You'd be amazed what sells! Also car booting, small ads etc.Every little helps! Also have you checked that you are getting all the benefits that you are entitled to? Is your partners income including child benefit and Child Tax Credit? 3 - You need to look at your relationship and ask yourself if you would be ok if it wasn't for this debt. If you would be, then you need to work at saving the relationship as money is not worth losing a loved one for, in ANY respect.
Take heart, I was at an EXTREMELY low ebb in October last year, and now I am stable, seeing my debts go down month by month, no longer dread the phone and the post, and can see a big bright light at the end of the tunnel! Hang in there, you WILL be ok.

pinkthinks

Hi John

Not too much to add to the savings on your outgoings (other than a repetition of the food budget), I think there's been some good thoughts on this already.

Just a note to say chin up - after the intial 'good god, it can't be that much, surely!' moment, you'll see that there are more options available to you than you were perhaps considering. It helps being able to talk (type!) about it at least, and there are some fab people on here to offer you advice and support.

jo1972

Morning John,

Welcome to the board, I'm so glad there were people about for you last night :T

Well done on posting, looks as though you've definately had their lightbulb moment, some have a partial moment but are unwilling to give up some things which in the long term makes it harder to see the wood for the trees, but you sound confident. Be open minded about everything that's suggested, that's the only advice I can give. You will be amazed how addictive living as cheaply as possible can be!

Good luck, make sure you update this thread with your progress - I look forward to reading it!

Jo.x

newlywed

Hi, I just want to echo yellowmonkey's suggestion of CCCS. If you go on their website you can fill in a debt remedy and they will suggest what can be done.

I am on a DMP and have had one credit card freeze interest and charges, one has reduced interest to a third of what it was, my loan payments have been reduced too and this is all agreed. I now only have one credit card still charging full interest and it has made a huge difference.

I owe a bit more than you and earn a bit less and thought there was no way out and no where to go. CCCS have helped sort thing out and teach me which bills were the important ones.

Lizzieanne

Hi John,

I've nothing useful to offer other than another 'chin up' and the advice to keep posting!

I did not find this website until our debts were almost cleared, but in the past year it has been fantastic for keeping us out of debt.

There's so many things we do now that have become second nature, such as not buying anything at all until I've checked out Quidco and the other cashback sites. It's amazing how a few quid here and a few quid there adds up and for the first time in over 20 years together, my husband and I now have some money saved! Not a lot, but it's a start. I find the 'shopping challenge' thread in the 'Old Style' forum very useful. I've become an MSE bore and I don't care!

I hope you manage to work things out, there is some excellent advice on these boards and whilst it won't be easy for you, you will get there in the end.

Cazzdevil

If you're only spending £30 a month on petrol then you're obviously not using the car very much so with that in mind do you actually NEED the car, or is it just too much of a convenience that you feel you couldn't do without it? Is there any way you could do without it until your situation is under easier control? It would certaily ease your financial situation somewhat...

Hermione54

Nothing to add to all the excellent advice above, except to say that your girls are the most important thing in the world and everything else is incidental. Keep a perspective and remember that in the end it's only bloody money!

Sea78

Welcome!

I do hope you have found some help as above. I think it would be beneficial to ring and chat to the CCCS - you don't have to do anything they suggest, but it will help you to sort things out a little and make it all clearer, as well as examine all your options. Also, have you and your OH tried any form of counselling? It might help? Sounds like you are both going through an extremely stressful time and am sending you big hugs now.

Sea xxx

consumerpower

Hi,

I just wanted to say congrautlations on taking a massive step and admitted to yourself about the debt. I did it back in May and so far I found it the hardest thing to do compared to actually sorting it all out and now living off my new budget.

Stick with everyone here, they have changed my life, and take all the advice you can get! Also I found initally reading the debt free role of honour a very positive thing, see all those people who have made it. You will be one of those people too.

Good luck, chin up, and no-one has died xxx