Where to look for help?

So, where to start with this?

I've come to the conclusion that I'm in an absolute mess. After paying various payday loans, other unsecured credit (minimum payments only) and my car finance, I'm left with just under £200 per month (which, given the way I'm paid can often mean 5 weeks between salary receipts) to cover petrol, food etc.

Looking at my budget sheet, the amount of 'spare' money I should have will increase by about £13 in Sept, £40 in Oct, and about £100 in November. It would be January 2017 before I'd be able to make anything other than the minimum payments on credit cards.

This is also compounded by the fact that I'm not paying anything for rent of household utilities. I'd probably be effectively classed as 'homeless' I guess - sleeping on a sofa, which is really starting to have a detrimental effect on my mental state. That is something I'd like to sort out urgently, but given how tight things are for me, I really can't see how I can resolve that matter either.

Any advice on how I best proceed from here?

EDIT: If it makes any different to things, I'm in Scotland.

Comments

  • hohum
    hohum Posts: 476
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    I didn't want to read and run. It sounds to me like you are in financial distress, eg you don't have enough money to meet your priority needs like food and shelter, due to debts. My instinct would be that given your situation, stop paying the debt minimums and start making token payments. It's unsecured debt and your credit record is less important than food and shelter. You can always get back to making larger repayments once you are back on your feet. If you stop paying car finance, you will probably lose the car and still be liable for the loan. What kind of finance is it, how much do you have to pay a month and how much is the remaining loan? Do you need the car for work? A statement of affairs might help to get an idea of what solutions would be the best idea for your situation. They say round here there's never a debt problem that can't be fixed!

    However you might want to talk it through with someone other than a random poster on the internet :) I think it would improve your situation to default on your loans but there are repercussions to doing this. National Debt Line are a free service that are a charity and regulated by FCA https://www.nationaldebtline.org/ you can get advice on the phone or online. You could also look at Citizens Advice (link is for england) https://www.citizensadvice.org.uk/ .
  • Kitten868
    Kitten868 Posts: 1,785
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    I totally agree with the pp. Please seek specialist advice. And apply for housing. You will get to a point where you can look back on this. Xxx
    Loan 1 £5200/£8000
    Loan 2 £300/£5800
    Total £5500/£13800
  • Thanks for the replies.

    As for applying for housing, I'm really not sure how to go about that given that I literally couldn't afford to pay for it, let alone other monthly bills for the moment. There's a real housing problem where I'm at and it's about £600 per month even for a one bedroom property.
  • enjoyyourshoes
    enjoyyourshoes Posts: 1,093
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    Agree with above, also can you look for new/additional job to increase income. Night working with big supermarkets, etc?
    Debt is a symptom, solve the problem.
  • AdviceSought
    AdviceSought Posts: 205 Forumite
    Agree with above, also can you look for new/additional job to increase income. Night working with big supermarkets, etc?

    Unfortunately that's not really an option.

    I have been looking for a new job for ages, but the job market where I am is particularly bad due to all the redundancies that have been made locally.
  • Kitten868
    Kitten868 Posts: 1,785
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    I meant council housing. You are homeless.
    Please speak to a debt charity. Maybe it's a dro or a dmp you need xxx
    Loan 1 £5200/£8000
    Loan 2 £300/£5800
    Total £5500/£13800
  • sourcrates
    sourcrates Posts: 28,526
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    Kitten868 wrote: »
    I meant council housing. You are homeless.
    Please speak to a debt charity. Maybe it's a dro or a dmp you need xxx



    Young, single people, are at the bottom of the list for council housing.


    I'm 50 now, when I was 30, I put my name on the waiting list for a council house, had a letter off them every so often saying there was nothing available, and do I still want to remain on the list, anyway, I forgot about it, got a mortgage, house, etc, 18 years later, got a letter asking me if I still wanted to remain on the council housing list ?


    There are no houses for people in this category, its a diabolical situation.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected]. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
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