In Debt Crisis or Not In Debt Crisis; That is the Question...need another way out!

miss_goodbottom

New to this Forum as looking for alternative solution to my ongoing debt issue. The facts are 1) Credit Card debts currently totalling around £10K - 2 cards, one for purchases maxed out and the other used for 0% Balance Transfers but also now at its limit so no further transfers possible. 2) I am a homeowner with a Partner who pays the Mortgage. 3) I am currently unemployed and have been for over 2 years following redundancy from reasonably well paid public sector job in NHS. 4) My Partner has been shouldering all the financial responsibilities since this happened including all utility bills, food, car running costs etc and whilst we are keeping the roof over our head and wolves from the door, his finances are cut to the bone. 5) My Parents have been helping me with funding to pay the debts but the situation is getting untenable, embarrassing, impossible leading to friction and arguments. Want to really stop relying on them altogether, it's not right in my eyes. 6) Because of unemployment cannot go down any re-financing route, eg remortgaging or new loans/credit. 7) Currently the monthly payments are a) about £200 to Barclaycard and b) £30 minimum payment to Tesco. I also pay monthly mobile contract of £21 out of funding assistance from my parents. Will be happy to receive any advice or views, good or bad!


Also to add, my partner is full time working with earnings around £23,000 and I am not in receipt of any welfare benefits at all. I did receive JSA for 6 months (contribution based) back in 2015 but that was all.

sourcrates

Hi,

Are you named on the mortgage, or is it just your partner ?

ReadingTim

Why are you not in receipt of JSA?

Why are you still out of work after 2 years? I don't know where you're located and what you did in the NHS, but are there really no jobs you can do? If you're looking for another 'reasonably well-paid public sector job', you might have to adjust your expectations somewhat - you can't really afford to be unemployed any longer!

kazwookie

Agency work ?

StopIt

ReadingTim wrote: »

Why are you not in receipt of JSA?

Why are you still out of work after 2 years? I don't know where you're located and what you did in the NHS, but are there really no jobs you can do? If you're looking for another 'reasonably well-paid public sector job', you might have to adjust your expectations somewhat - you can't really afford to be unemployed any longer!

It's means tested so total household income will be above the threshold. However the OP needs to make sure they're still claiming NI credit otherwise their state pension will be missing years of contributions.


To the OP: You need to be finding some source of income. If the jobs market is not favourable and you're just unable to find permanent work, have you signed to the local agencies for temp work?


Take a look at the Boost Your Income boards here for other ideas including inventive ways to get a few extra £ in your skyrocket.


Outside of that? For now, talk to a debt charity as you look like a perfect candidate for a DRO.

miss_goodbottom

sourcrates wrote: »

Hi,

Are you named on the mortgage, or is it just your partner ?

Both my partner and myself are named on the Mortgage.

miss_goodbottom

StopIt wrote: »

It's means tested so total household income will be above the threshold. However the OP needs to make sure they're still claiming NI credit otherwise their state pension will be missing years of contributions.


To the OP: You need to be finding some source of income. If the jobs market is not favourable and you're just unable to find permanent work, have you signed to the local agencies for temp work?


Take a look at the Boost Your Income boards here for other ideas including inventive ways to get a few extra £ in your skyrocket.


Outside of that? For now, talk to a debt charity as you look like a perfect candidate for a DRO.

Thank you both...yes you are correct re means testing - I was only given 6 months of JSA then was put on National Insurance contribution "stamp" only. I stopped that after a few months as it was exasperating wasting time and fuel all the way to the Job Centre for nothing. I was notified I had just over 28 years of work contribution for State Pension and the qualifying period is 30. I am 46 years old and despite this "low period" I fully intend to work another 2 years or more before age 67, so I am not phased by not going to the Job Centre to continue this. My partner earns too much for me to qualify for any other benefits, tax credits, council tax reduction etc etc.


You are of course, all right, the unemployment is an issue and must be resolved.

sourcrates

StopIt wrote: »

Outside of that? For now, talk to a debt charity as you look like a perfect candidate for a DRO.

miss_goodbottom wrote: »

Both my partner and myself are named on the Mortgage.

Cant do a debt relief order if your a homeowner sadly.

StopIt

miss_goodbottom wrote: »

Thank you both...yes you are correct re means testing - I was only given 6 months of JSA then was put on National Insurance contribution "stamp" only. I stopped that after a few months as it was exasperating wasting time and fuel all the way to the Job Centre for nothing. I was notified I had just over 28 years of work contribution for State Pension and the qualifying period is 30. I am 46 years old and despite this "low period" I fully intend to work another 2 years or more before age 67, so I am not phased by not going to the Job Centre to continue this. My partner earns too much for me to qualify for any other benefits, tax credits, council tax reduction etc etc.


You are of course, all right, the unemployment is an issue and must be resolved.

Ignore my previous addendum about a DRO then. If you're named on the Mortgage you are not eligible for that, sorry.


I'm afraid the only solution is to earn the money to pay the debt off, one way or the other. As long as you're fit and able, you should be able to find employment of some sort, but I certainly understand that it's easier said than done.


It's not something that really needs the job centre though, employment agencies would be a better bet if you're willing to walk in and say "Get me doing something".


Edit: Cross-Post with Sourcrates and yes, I made a wrong assumption because the OP stated their partner was paying the mortgage.

Neo187

One thing i might add is that 2 years unemployed is quite some time. I was also made redundant 2 years ago, and it took me almost 1.5 years to get another job. However, I was be far too lazy, and relying on my payout to keep us going. I quite rather enjoyed the time with the family! However, it got to a point where I needed to pull my finger out and get a job I wanted. You really have to put the effort into finding one. The Job centre was useless and a waste of time. But you have to open your options to other sectors etc. I was only aiming for one specific job role, which is why I got nowhere. Now, Im in a role that I enjoy even more than my last, and earning more money. I didnt even think I would get an interview for it, but sometimes they can see specific transferable skills and experience to offer them. Good luck!

EssexHebridean

It's actually a good thing that you're not in a position to go down the "refinancing" route as it sounds like you've previously shifted debt to 0% to try to deal with it?

First up as others have said - get an income. It doesn't need to be massive, or high powered, it simply needs to pay the bills. Your self-respect will thank you for it. If you can think of a few local firms you might enjoy working for then contact them directly with a short CV and an enthusiastic introductory letter - you never know your luck. Failing that, local rag, agencies, online job sites etc.

Sort out the NI thing - you've paid in all these years, there's no point in leaving yourself with a hole in the middle of your contributions. There are different levels of "qualification" for state pension I believe plus we never know what might happen in the future - personally I wouldn't be leaving myself in that position.