Please help me decide my life plan.

Lmh71365

Ok your replies have been amazing guys.

I'll try to reply to most things.

1. I've already taken it to HR, got told no. I was able to view my payslips online but the process is horrendously difficult so I didn't bother, if I had, I would have flagged this much earlier.

2. We don't have anything major to sell, but might have books etc. the thing is I am working 60+ hours a week including weekends and the baby is a terrible sleeper so I don't have much time to sort anything out. My OH is on crutches (hence his week off sick - he tore his ACL). It's all a bit messy for us at the moment.

3. We have already signed up for childcare vouchers but not sure how quickly they set up.

4. I kind of broke down on the phone to my mum, she has given me the nursery fees for now, at the moment I have to pay these back next pay day, but at least this bides me some time.

5. I'm so confused by our credit rating being mythical? The fact is we can't stay in our house as the LL will be back soon, and if I don't have good credit we won't be able to move? My mum already has to guarantor my partner!

6. I work as a car saleswoman so my job is near enough the same everywhere, in terms of huge bonus for April and October (for March/sept number plate change - I got £7200 once!), and in terms of what it entails and the bits I love about it (eg. Dealing with customers). I do have some lovely colleagues though which isn't always easy to find in such a cut-throat environment.

7. I am going to re-approach my bank and see what they can do for me. I always find I end up on a telephone speaking to some Scottish lad who isn't the underwriter and probably isn't passing on my messages exactly as I'm saying them, rather than actually soeaking to someone in branch who can actually help.

crazy_cat_lady

£785 is not a London price for a nursery. I used to pay £35 a day for my kids full time at nursery (and that was 3 years ago) and I'm in Sunderland so there's probably not much cheaper around to be honest. There's a low staff:child ratio when babies are really young (either 1:2 or 1:3) so it's more expensive when they're under 2. I dread to think how much nursery costs in London.

tiger_eyes

Lmh71365 wrote: »

5. I'm so confused by our credit rating being mythical? The fact is we can't stay in our house as the LL will be back soon, and if I don't have good credit we won't be able to move? My mum already has to guarantor my partner!

Double-check with the Renting forum, but I'm pretty sure that landlords and letting agencies can only check your credit using the public record, which reveals only CCJs and bankruptcies. So if it's a choice between credit payments and food, get the groceries and take the late payment marker. Your future landlord won't find out.

LJB290

How about looking at local child-minders instead of a nursery?
The care can be terrific and it may also be a little less expensive.

January2015

have you applied for any benefits you may be entitled to? Always worth a try. I appreciate even if you are entitled the benefits do not 'appear' immediately and take some time to process through the claim system, but it's worth checking.

http://www.moneysavingexpert.com/family/benefits-check

sourcrates

tiger_eyes wrote: »

Double-check with the Renting forum, but I'm pretty sure that landlords and letting agencies can only check your credit using the public record, which reveals only CCJs and bankruptcies. So if it's a choice between credit payments and food, get the groceries and take the late payment marker. Your future landlord won't find out.

This is correct. Any potential landlord will not have access to any section of your file that involves your personal finance, only the public records section.


The only people that can see your full credit file are the credit reference agencies, and any potential lender or broker.


Its true the ratings created by the CRA`s are a fictitious number, generated by them in order to sell you products and services, no lender ever sees this information, only you can see it.
Any potential lender will credit score you using there own criteria, everyone is different, so there is no universal credit score, its all a myth.

northerner999

Lmh71365 wrote: »

5. I'm so confused by our credit rating being mythical? The fact is we can't stay in our house as the LL will be back soon, and if I don't have good credit we won't be able to move? My mum already has to guarantor my partner!
.

I described it as mythical because there is no such thing as a "credit rating", which is why every agency purporting to offer an insight into your credit rating comes up with a different number.

In reality every lender has different criteria for whether they think you are a suitable customer for them. This can rely as much on where their current liabilities are, and whether you fall under their customer target range - nothing to do with your previous credit history. Things like how often you've moved house, job security etc. could all be taken into account when a mortgage lender is deciding whether you are the customer for them.

The main reason I say to ignore your "credit rating" is people are desperately worried about lines of credit running out when, in most cases, the best thing that could happen to them is just that. The only way to avoid history repeating is to address the issues which caused the debt, and it's only when people clock that that they make real progress.

Of course your credit history is important and you want to avoid defaults, but these are harder to get than you may think. When I was struggling I ended up with no end of reminder letters from utilities firms, but never got close to a default and Noddle (which is free, hence why it's the only credit agency I've looked at) puts me pretty near the top of its methodology. Basically If you are absolutely desperate, not paying the full amount to your electricity supplier will have less repercussions than not eating or not meeting a minimum payment.

http://www.moneysavingexpert.com/loans/credit-rating-credit-score#universal

Is a good explanation. If you read down it has good advice on how to make yourself more enticing for lenders if you are really concerned about that. A lot of that advice (like paying insurance annually rather than monthly) may need to wait until after you've banked this bonus next year which will sort you out.

Rrushi_Shqiptar

re the CRA's,LL and others Estate Agents etc just check their are no CCJ'S Bankruptcy Orders etc. (online and cancel within 30days)

Did you rent through and estate agent? do they have sympathetic LL's, yes they exist.

you will find private nurseries for pre schoolers expensive. Can mum attend a few sessions at a local mother and baby group for you?
Check mums net etc as they will have all the local knowledge and ideas.

Good luck and stick with it, I am sure you will be fine. April isnt far and you will be selling cars to people like me soon I am sure. (UK's record car sales figures, hope its not VW though )