In a spin

Jon81

New to forum and am in a tailspin. After the euphoria of starting a new job in January, a couple of issues conspired against me which made me sit down and think about my overall situation.

Firstly my old job underpaid me by a considerable amount in my final pay, promised to pay it back the following month, but 3 days out emailed to say it wouldn't be until February. I pleaded with them to pay it there and then and although they had the method and means to do so flatly refused as payroll cut off had passed and even admitted it was their error. Combine this with a weeks wages from the new job to survive on caused a panic.

I sat down and looked at my debts and was and am still truly sickened by the amounts owed and that the reality was that I've simply buried my head in the sand and got by making minimal payments for too long.

I've contacted step change and they've advised a token payment plan for the time being. Unfortunately, due to bullying at my old job, my new role is at a reduced salary but the prospects in the long run are better and the environment much more supportive.

I'm married, with a young child. I'm so ashamed of what I've done to our family and that I'll now lose them because of all this, I know I need to tell them but I'm racked with fear that this will end in divorce and homelessness.

Most creditors have agreed to back off for thirty days but I fear they'll come back both barrels blazing when they're offered £1 per month and even after this depending on which route I take either IVA or DMP if they'll play ball.

Am trying to read as many tips as possible on here, so want to make things right but keep seeming to get set back just when I try to turn a corner and feel as if this will never improve.

On_my_way

Hi

Firstly, from what I read you haven't done anything wrong so make sure you get the money that you are owed - secondly, you AND your partner need to seriously face up to debts and income because you can use this forum to seriously cut down your family spending to clear your debts as soon as possible.

As a married person you are in a unit which should not break in hard times but communication is key.

Sit down together and work everything out. There are people on here who have paid back £100k debts so anything is possible when you try.

Good luck and stop beating yourself up, just move forward from this point.

On_my_way

I forgot to add that remember a DMP/IVA will cause you problems if you want to get a mortgage etc in the next 6 years (if you have defaults).

If they do a £1 token payment plan for you be sure to still live as though you are paying a lot more and try to get some emergency savings in place urgently.

Jon81

Thank you on my way, all good points thank you. My old employers said in January my payment simply got missed due to Christmas but refused to budge. It should come next week.

My fears about telling my wife are due to the issues we've been trough over the past years (repeated family illnesses, bereavements) are really having - a toll on her that this will be the final straw. I know I have to do it but easier said than done.

Aware of issues IVA or DMP will cause but have to be better than current position of struggling and burying head in the sand, need to take the long view I realise and deal with this.