What do you think?

fatbelly

Hi

These are two separate issues aren't they?

If you're not a property owner and didn't incur your debts by gambling, then yes, voluntary bankruptcy is an option. Hubbie's on a lowish wage so they shouldn't take anything from his income. If you've got a posh car, that might go. Of course if you go bankrupt, the only debts cleared are those solely in your name.

I'm not an expert on fostering - you might find more fostering-types on another board. But some friends did it for a few years, concentrating on 'difficult' kids (four of them - I don't know how they coped) and were well remunerated (if that's the right word). Fostering allowances don't count as income for benefit purposes and (I think) aren't taxable - again the tax experts live on another board. The local authority will suss you out pretty thoroughly before they place anyone with you.

Best of luck and keep posting.

BettyDebt

You're all right!! I know. I thank you.

I am only 26 but my husband is in his 30's and is pushing for the kids as he doesnt want to be an old Dad...pity he can't help me get debt free faster. He is a mechanical engineer but he comes from South America and is having huge difficulties getting a ME position as he has little UK work experience.

I think the main frustration is all the hard work and you feel like you're getting no where. I have a month by month budget to watch my debt go down but I have so many plans and things I want to do but cant do it BECAUSE OF DEBTS...and its fine it it was what I spent but I racked up so much interest over the yrs its shocking...the iterest is lower now but I feel so frustrated. I mean I cant have babies, I cant study I cant travel I cant even go meet my husbands family in South America!!

Hubby is looking for better jobs, I work part time on top of full time to make extra cash where I can so i'm at least not lazy about but quite honestly its wanting to do something and not being able to. I definitely want to foster but like with having a child of my own - only doing it if I can offer stability. I do have a good head on me (apart from younger past mistakes) As a married couple I just don't want to live with 4 other people anymore. BUT where in London that satisfies us getting to work AND allows me to keep my dogs (this is non neg as I love them to death they are my real joy) could I rent and still keep up paying my debts within 4 yrs....

I can see why people get laid off sick with stress and pressure. It really is !!!!!! where you want to live your life but every waking moment and 12hrs of work a day are dedicated to paying my debts. I'd like to say my husbands lowish wages make me have to pay for two people but i dont. We have totally seperate finances...

Just makes me want to scream as I just want to pay it now and be done with it. I want that sense of achievement and pride to know I did it. BUT at the same time I think if I just skipped the country... not that I'd get far as I couldnt afford the airfare :-)

Such is life, I made my bed...

Magentasue

I do sympathise, still feel that debts and kids are a mixture to be avoided though. When I read your original post, I could see ways that you could cut back and I notice people made suggestions so that you could get debt free sooner.

Are you now managing your own debt repayments? If you are, have a look at https://www.whatsthecost.com and then go to snowballing. You put in all your debts, the total amount you can repay and it works out a schedule so you pay as little interest as you can. If you can get the interest frozen or transferred to 0%, it obviously gets cleared faster.

johannamse

Hi Betty - I really really symapathise. It's terrible isnt it? You have so many plans and want to do so much. The first positive is now you "have seen the light" as it were. So many people just drift around with all their debts and never achieve anything. YOU WILL be debt free soon and YOU WILL have an interesting and fun and simple debt free life. Just imagine - you could have sprog at 30 and then save up and take it to South America when you are 32 and travel round for a couple of months. That would be an achievement!

WHat do you want to study - could you start doing some of the study now, with cheap and pt courses? (I also thought could could hubby do courses to help gain better employment?)

SOmething that has really helped me is planning for the future. I too want to travel (everywhere at the momenT) and I regularly look up infor on the web. One good thing is you are so used to saving - when the debt free date comes and gos - you will be saving millions.

Oh and remember EVERY LITTLE HELPS. Every extra £50 brings the debt free day closer. HTH.

BettyDebt

Yes I'd just be stupid to mix kids and debts as much as my mind gets carried away at times I know its not right and hubby can wait till 40 as far as I am concerned. If we dont have the money we just dont have it!

I'll look at what the cost website. I am not managing my debts yet. GP will neg the next 6mnt payments and then I'll cancel GP and use the next 6months to get my head around it before I have to be negotiating.

I am doing my best to cut down more and more. It somewhat complicates things living with ppl as things like sky mean a reduction in my bills but also a reduction in their rent which means I lose out. I am definitely taking everyones advice.

4yrs isn't that far away you're right johannamse, child at 30 and 2yrs later travel SAmerica. I think the frustration just kicks in because it seems never ending but I have a good job and manageable debts and a roof over my head and my dogs to love. I should appreciate the little things... be glad I am doing something about it and have definitely learnt my lesson!!

Thank you.