Please help!!

jammygem_2

Me and my partner are really struggling in our debt and need some desperate advice I've read about IVA's good and bad and not really know what to do now?!?!

This is the first time i've ever posted anything so please bare with me

My partner was made redundant 2 months ago (no redundancy money as he'd only been there 5 months) and is now in a poorly paid job until he finds something better. I have gone back to work part time from being at home looking after our little girl. In total we hold 4 jobs, my partners poorly paid job, he also does a part time job at weekends and I hold down 2 part time jobs.

We have recently tried to get a loan to consolidate our depts (and to reduce payments) but because of our poor credit we haven't got a chance! We've requested for our creditors to lower our payments but thats not forever, and we don't qualify for any benefits or help from our local council because we earn over a certain amount?!?!

We also need to pay out for our Road Tax (190), and I have 2 debt recovery companies asking for a total of 140 ASAP!!:eek:

This is our money going in and out per month roughly as we get paid weekly. Any advice anyone can give will be more than appreciated. Thank you for reading::o

Incoming:
My wage 161p/w
My2nd wage 50p/w
My partner 200p/w
partners 2nd wage 40p/w
benefits 113p/m

Total 2029.5 p/m (roughly)

Outgoings:

rent 650
water 30.8
council 121
gas/elec 35
tv1 0.95
phone bills 65
insurance 40
petrol 130
virgin35
childminder 360
shopping280
Total 1757.75pcm

Debts
egg loan 3458.99 sett. fig
Nat West Loan 4000 sett fig
Barclay Card 1600 limit and outstanding

MissKJ

You have loads of options. You may feel like you aren't working for any benefit, but you need to get organised. You are paying too much for may things. Phone bills are too high! shopping can be a lot less. Can you explain the others. ie. insurance for what? Virgin what? Are the childminding costs necessary? Can you work different hours to share the childcare bewteen you. If not are you entitled to any childcare vouchers from employers?

Welcome to forum, and read as much as you can, it really helps. Yoir situation can be improved honestly.

Lazy_Runner

Hi

Sorry I can't help much, but wish you the best in sorting everything out.

For your debts, please could you add the interest rates you are paying and the amounts and or the minimum amounts? Also for the two loans, what would your monthly payments be if you didn't settle this month?

HairyHandofDartmoor

You could definitely spend less on food if you only have one child (try the money saving old style board for tips), your phone bill is also high as has been said already.

What is the insurance for ? and what is the virgin payment for? You also spend a lot on petrol. Do you have long journeys to work?

There are some things missing from you SOA, such as entertainment, birthdays, etc. Look at Southern Scouser's sticky at the top and try and give us a more detailed SOA so that we can be of more help.

jammygem_2

Thank you all for replying....

The phone bill is for 2 mobiles virgin at 50 p/m and 3phone at 15p/m
With shopping it doesn't seem to matter what or where I shop I seem to always spend 80?!?! I'll join the Tescos website and see if I can shop somewhere cheaper (shop at ASDA currently).
Insurance is for the car (for me and partner, partner has 3 points on licence), Virgin is cable & house phone for which we are now stuck in a contract for a year, we took this out when we were quite comfortable with money.

Childminding in a nessesety, I work 12-5 and my partner can work any time from 6-6. We only have one car which I take because of dropping her off at 11.30. Hence where the petrol goes, going from one job to another and droping off our daughter!!

We are currently waiting for tax credits to let us know if we are entitled to anything, and my company do not to child vouchers.

Our debts are as follows::o

Egg loan is at a rate of 5.0% monthly payments are 102..47
Nat West is a credit arrangement on a loan. He used to pay 200p/m but we have it down to 100 for 6 months and after is goes to 150p/m.
Barclaycard - purchase annual rate 24.9% and cash annual rate 27.9%

we don't go out ie entertainment as my partner works weekends if anything we might spend 20 per week on a bottle of wine, DVD, entertainment for our daughter.

Birthdays are all now gone so I'm not worried about them until next year more like christmas is a bit worrying not being able to put any spare cash aside!!:eek:

lindens

You're spending far too much on phones - 3 mobiles for 2 people??? Sorry but you can't do it theyhave to go. At the very least ring up all the suppliers and get yourselves onto the lowest tariffs until you can cancel them altogether and go onto payg.
I think Asda is cheaper than tesco, have you tried aldi or lidle. I do a big Asda shop every month online, so i don't pick up bits i don't need, then weekly i do little top up shops in aldi as their fruit and veg is lovely and lasts for ages.
Well done anyway on getting all those jobs, you're obviously determined to sort yourselves out I'm sure you will.
Your rent is quite high do you qualify for housing benefit?

calleyw

Your benefits seems low you should be getting wtc and ctc you need to go to www.entitledto.com and check it out. As you spending out £360 a month on child care.

If you are with virgin for telephone and internet you can get virgin mobile phones with either 100 mins/text or it might be 300 mins/text now for £10 a month and anything unused gets rolled over.

I spend approx a £100 a month on food for two and eat well, very little in the economy range. You need to meal plan and stick to your shopping list.

if you are not arrears with your council tax you can pay over 12 months think you can do the same with water as well.

All the best.


Yours


Calley

jammygem_2

Thank you again all that are helping...

We don't have 3 phones, we have 2, one is Vodaphone and one is called "3". I'm waiting to see what tax credits say about childminding but otherwise we've asked everyone to shorten payments etc but they don't last forever... It really is getting both of us down now I just feel sick from it all!!! People are asking for money and we just don't have it, it's not as if we're not bothering and scrounging off the council?!?!?!

Once again thanks everyone for your help, keep all your ideas coming i'm open to all sugesstions

calleyw

easy for me to say but they can't have what you don't got.

Have you contact CCCS or Payplan they well be able to help.

All the best.


Yours


Calley

rog2

Yes, contact CAB, CCCS, National Debtline, Payplan or any other Debt Counselling Charity - their advice is Free, Impartial and Professional. Do NOT go to a Private Debt Company that will charge fees for any advice or service that they offer. And, above all, do not try and 'borrow' your way out of the situation.

I believe that you should try to negociate 'reduced payment' to your creditors - there are some useful template letters on

http://www,nationaldebtline.co.uk

I hope your partner finds better paid employment soon

Good Luck

izzybusy23

jammygem wrote: »

Thank you again all that are helping...

We don't have 3 phones, we have 2, one is Vodaphone and one is called "3". I'm waiting to see what tax credits say about childminding but otherwise we've asked everyone to shorten payments etc but they don't last forever... It really is getting both of us down now I just feel sick from it all!!! People are asking for money and we just don't have it, it's not as if we're not bothering and scrounging off the council?!?!?!

Once again thanks everyone for your help, keep all your ideas coming i'm open to all sugesstions

I would say 99.9% that you will definatley get some help towards your childcare costs from tax credits. Your incomes are low and paying childcare, so you will definately get help with that. Just make sure you badger them as they seem to be really slow lately.

Also if your childminder isn't OFSTED registered then you may not get tax credits so you may well think about changing your childcare arrangements to an establishment that is OFSTED registered.. in order to get your fees paid.

Good luck!