So..any advice welcome

debby

We have dug ourselves into a hole. Our own fault, hands up admit it. Just don't see a way out right now.
Our monthly payments on everything have spiralled out of control and left us with very little to live on. E.g. We have £10 left and 2weeks until pay day 😢
We owe approx £15k. We have missed no payments at all, but we are now struggling to keep our heads above water. Infact...I think there's just our noses poking out to breathe.
We have talked to a company about an unsecured loan...but they wanted £30k back in a £10k loan.
We are waiting for a debt advice company phoning us tonight too.
For anyone who wants to have a go. Just get on with it. We know we've messed up big style. We just want some pointers for a way out. Thank you xx

Ilona

Hi. Make sure the debt advice company is a free one, do not go with anyone who is going to take a cut from your repayments. You want Stepchange or Christians Against Poverty.

What normally happens is that you fill in a Statement of Affairs, SOA, listing all your incomings and outgoings. Then post it on here and people can make suggestions as to how you can cut back your spending to leave more money to pay your debts.

http://www.stoozing.com/calculator/soa.php

Taking out another loan is not the answer. You can't borrow your way out of debt.

This can be solved, take the first step with the SOA, and phone Stepchange.

Ilona

debby

Thank you. I will have a look at those. We are more worried at the moment about living on £10 for 2 weeks. X

Ilona

debby wrote: »

Thank you. I will have a look at those. We are more worried at the moment about living on £10 for 2 weeks. X

Can you go through your cupboards and do a menu plan for the food you already have in? Check your packets, rice, pasta etc. Check your freezer, have you any tins, beans, tomatoes? A bag of potatoes is quite cheap, a loaf of bread also. Have a look at the Old Style Board for ideas on cheap meals.

Can you get to work? If bus or car, can you cycle or walk?

What exactly do you need cash for in the two week period?

Ilona

debby

We need money for diesel for my husband to get to work. I already walk to work. I need money for our sons school dinner, top up groceries like bread and milk veg fruit, we already have meat in freezer.
I've got a few things on eBay, but they may not help. All of our bills are paid for the month.

hopefulsoph

Some ways I have found emergency spare cash:

Car boot, make it a family thing there's usually some on sat and Sunday even mid week! Have a good clear out, kids toys and clothes have been a real earner for me! Also Maternity clothes too! It's amazing what people buy! (Make up that is half used or that you bought but don't like...people buy this) It's a pain but I have made between £50-£200!

Clothes banks, for stuff not quite good enough for eBay chuck em in a bag and it's not a big earner but £5-10 is a lot when you haven't got it!

Recycle/sell old phones and electronics.

Scrap gold (not everyone has it,but if you have odd bits or stuff just sitting around you can live with getting rid of)

eBay you already do and is a good one, I have sold and it has really added up, even if you sell for only £1 or so here and there!

I have set some no spend day goals, have managed a couple!

Actually doing something, has made me feel less worried when I have come up short!

It's all pretty obvious but just some of the ideas I have done when I have struggled!

Good luck!

debby

Thanks for the ideas. Only thing is I'm running out of things to sell.
We have just sold last week some old mobile phones. Now selling on eBay my 3 pandora charms and leather bracelet. Just sold one charm tonight, just made £11 👍😁
We are constantly going through the house looking for stuff to sell. Also just sold some of my old tops..made £10..but usedthat money for diesel. Now we've not much left that we don't need. Husband is sorting out an old laptop.
❤️

hopefulsoph

Brilliant! Even think of the things you think nobody will want! I sold some perfume I wasn't too keen on that had been used and a lipstick that was a decent make that I never really used!

Also I have signed up for the free postcode lottery...you never know!

Also my hubs is keen on making the diesel go further...check your tyre pressures and keep revs below 2 lol it sounds funny but as I do short journeys I was using loads, it has made it go further!

Have you done the ppi thing (not a quick fix but might help in the med/long term)! I used the resolver on here and have had a decent bit back!

I'll keep thinking!

hopefulsoph

Just thought...check you're not in credit with gas/leccy/water!

Do you have a packaged bank account?

debby

Hi I did the ppi thing a couple of years ago. It wasn't much as it was joint with my ex lol.
I am day off on Thursday so I will go through tha house and see what else I've got to sell 😁😁😁😁 xxxx

debby

Don't know what a packaged bank account is. We have prepayment meters x