Advice please!

Stressedmummy

Good evening everyone!
So, due to various reasons I have found myself drowning in debt again
I have finally gotten myself out of the “debt spiral” and am no longer using credit cards. My various minimum payments however are just crippling me. I set out at the beginning of the month with the best intentions, I had set myself the “snowball” challenge and have cleared the smallest debts. But I can’t even meet all my minimum payments anymore and it’s the classic case of robbing Peter to pay Paul.
I have switched utility providers and set myself a budget, I am not overspending anywhere, I just simply don’t earn enough to cover the debt payments.
So what’s the best solution? I don’t really want to go down the DRO route if I can help it.... is there another way of just bringing down my minimum payments to a manageable amount? Or reducing the interest? I am not eligible for any balance transfers.
I get paid tomorrow, and one credit card minimum payment is £137 and another is due the same week for £90 and that’s just this week! The following week I have another for £157.... I can’t carry on like this, and at the moment I’m just thinking of giving up this juggling act and just defaulting on everything.
Does anyone have any advice please?
Thanks in advance, a very stressed mummy

middleclassbutpoor

Post SOA to triple check you are not able to make your budget stretch.

If you are genuinely at bare minimums - contact Stepchange or another charity to discuss options.

Dobbibill

How did you clear the smallest debts? what has changed since you had the money to clear those and meet the minimum payments?
There is always a solution, you just need to find the right solution for you.

I agree with the previous poster - post up a SOA and/or contact Stepchange or National debtline or one of the other debt charities.

fatbelly

I'm probably going to extol the virtues of a dro.

But before that, here is the link to the soa calculator:

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

Stressedmummy

I am having issues copying and pasting the SOA as I completed it on my phone haha

Stressedmummy

Well the smallest ones were very small in comparison, and I basically left myself short to clear them

sourcrates

Defaulting will have a negative effect on your credit file, but thats the least of your worries.

If you are struggling with multiple payments, and they are leaving you short of money, then dont pay them, write and tell your creditors you are in financial trouble and they will put everything on hold for at least 30 days to allow you to get advice.

Stressedmummy

Thank you for the replies so far.

Sourcrates - I don’t suppose there is a template for a letter somewhere? I wouldn’t know where to start

Stressedmummy

Also if I’m planning on avoiding credit for the near future, I guess a negative impact on my credit score can’t hurt?
It’s prettt poor at the moment to be fair

fatbelly

National Debtline is your go-to for this

https://www.nationaldebtline.org/EW/sampleletters/Pages/default.aspx

The one you want is

https://www.nationaldebtline.org/EW/sampleletters/Pages/Hold-action-on-your-account-%28sole-name%29.aspx

Stressedmummy

Thank you fatbelly