When your world crumbles around you... thats when you open your eyes!

betweenrockandhardplace

Well hello everybody!
i thought i would make myself somewhere to store my thoughts and my debt free journey!
Nothing like a major wake up call to make you realise you need to sort yourself out. financially and emtionally.
Il try and keep this short.
This all started last year... i managed to bag myself a well paid job (to me anyway) of £32500 a year.
I was happy and things were good. I loved my job, Things were good at home with my partner and 3 children.

My partner unexpectedly left me 6 months ago and thats where everything just went t*ts up so to speak.
I didnt handle it well. I started with the old "il treat myself to make myself feel better" thing. I had no debt at this point just a few £100 on credit cards nothing major.
Before i knew it i spent £5000 on credit cards and catologues. I know i only have myself to blame but at the time i didnt think i just thought its fine i can afford it.

In December 2018 i saw how my spending was spriling out of control and I did the most stupid thing ive ever done. I got a £4000 loan to pay off the cards and catolgues to make it easier in only monthly payment. I wasnt struggling with payments i just thought it would be easier. Obviously i ended up spending on the cards again doubling my debt. i know i know. what an idiot that i didnt close them.



February 2019 came... i started struggling at work... emotionally, i knew i was suffering with depression... i took a week off on work related stress, when i returned they called me into a meeting... JOB LOST! boom. that was it. They blamed it on my childcare problems which i had suffered with but not for months before they sacked me. they just used this as an excuse i think to be honest.
I managed to get a part time job on min wage but zero hour contract. Not brilliant but better than nothing at all.
That was a massive reality check. Going from £32500 a year to bearly £12-15k a year was an eye opener.


Luckily Im not behind on anything I am just about managing to pay everything with a little extra on top depending on wages.
Im gonna get this cleared! I am looking for a full time job but with my youngest being 2 years old and being a single parent to 3 its not easy!

DawnW

Sorry to hear this, didn't want to just read and run! Could you sell any of the stuff you bought when you were depressed, to make things easier now? Are your utilities etc on the lowest possible tariff? Are you shopping at Aldi or Lidl, or if that isn't practical, looking at the basics range in your usual supermarket? Are you getting all the benefits you are entitled to? It is probably worth doing a SOA so that the very knowledgeable people on here can suggest where you could make further savings.

And don't forget the free debt charities, such as Step Change if you feel it would be useful to discuss your options with the professionals.
Good luck, and take care xx

User_101122

Step change will be your best bet here.
Get a list of your debt balances and your income and expenditure together.

You've done the hard bit allready and that is acknowledging there is a problem.

Give them a ring on 08001381111 .

Good luck things will get better for you .

tacpot12

You are right; you can do this. Thank you for sharing your story. Do keep it updated as it will be immensely rewarding to look back on.

trailingspouse

Well done for realising there was a problem after only 6 months. You spent sensibly before, and you are spending sensibly now - what happened in that 6 months was just a blip, and you can do this!! People on this board are very kind, and very knowledgeable. As others have said, post an SOA - and they'll get cracking at where you can save, where you shouldn't try to save, and generally be extremely helpful.



You will rise again.

betweenrockandhardplace

thank you all so much for your support, i will do an SOA as soon as i can
Im hating this zero hour contract thing. over the next 2 weeks ive only got 8 hours work. they keep cancelling my shifts which is leaving me worried. I have spoken to work about about worries and they have assured me that i will be given more hours at the end of the month its just really quiet at work at the moment (im a housekeeper in a hotel and business is slow right now)
Im not working till 12th so thats 12 days this month with no hours so no pay. i could really do with a full time job again but with the childcare costs/issues il struggle with it.
its driving me insane being sat at home after being used to working 40 hour week for the last 8 years.

betweenrockandhardplace

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 500 (rough estimate might be more might be less depending on hours worked)
Partners monthly income after tax....... 0
Benefits................................ 1100
Other income............................ 147
Total monthly income.................... 1747

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 79
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 0
Mobile phone............................ 60 (this includes 2 sim onlys and an ipad contract i took out at christmas for my sons xmas present)
TV Licence.............................. 12
Satellite/Cable TV...................... 42 (in contract till Jan 2020)
Internet Services....................... 29 (in contract till July 2019)
Groceries etc. ......................... 200
Clothing................................ 5
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 90 (only pay this if hes in nursery on the days i work during week mon/fri)
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 25
Haircuts................................ 5
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0 (i know i should have something here but im focusing on getting debts down first, i have home insurance so if its anything major il have to claim on that.)
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 1172


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Vanquis........................178.......10........59.9
Barclaycard....................480.......25........34.9
Capital One....................1600......50........34.9
118 118 Loan...................5328......50........0 (ON ARRANGEMENT TO PAY OF £50)
118 118 Card...................215.......10........0
O2.............................836.......25........0
Very...........................400.......100.......0 (On buy now pay later for next 4 months)
Ace Catologue..................27........5.........59.9
JD Williams....................117.......10........59.9
Total unsecured debts..........9181......285.......-


Monthly Budget Summary
Total monthly income.................... 1,747
Expenses (including HP & secured debts). 1,172
Available for debt repayments........... 575
Monthly UNsecured debt repayments....... 285
Amount left after debt repayments....... 290

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -9,181
Net Assets.............................. -9,181



i dont have a social life really. i look after my kids and go to work and thats about it. dont really go out much. Shopping i shop at Aldi, £50 a week is normally more than enough, i make alot of cheap meals already to save money, ive always been this way.


I use topcashback/quidco too, i currently have about £70 in there, just gonna leave it there unless i really need it.

i also get a lift to and from work so no travel costs, i also have a friend who i go to aldi with every week for shopping

im gonna focus on the credit cards first, im gonna pay off vanquis £180 on Friday 10th May, I had a decent amount of hours last month so hopefully looking at £750 so i can pay extra to debts this month but next month i probably wont be able to.
Next is Cap 1 get that down asap!
118 118 loan is on a arrangement to pay at the moment of £50 for the next 6 months, then they will look at it again, hopefully if i can manage to pay off Cap 1,Vanquis and Barclaycard within 6 months i can take the loan off arrangement to pay and back on monthly payments of £235 thus not completely destroying my credit files. Once i have all the "smaller" debts paid off im going to throw everything i get at the loan.

betweenrockandhardplace

Today's goal!

I have alsorts lying around the house that I can put on eBay or Facebook marketplace,
Today's task sort through everything as get them up for sale!
I'm aiming to make enough to pay the catalogues off (roughly £150)
If I make any more it will be put onto cap 1
Yesterday I have cut up my capital one and barclaycard into tiny little pieces, I'm gonna keep my Vanquis card for "dire emergency's only" as that has the lowest limit of £250 less likely that il slip up and end up back in miles more debt, I have given this card to a trusted relative and they have been told under strict instructions not to give it to me unless it's an actual emergency... I don't trust myself hahaha
I've taken all credit cards off amazon, eBay, PayPal etc as online shopping was were most of the money was spent.
I will admit some of the things I bought were needed... new bedroom furniture for myself and my kids rooms, going on 8 years old and falling to bits, my sons needed bunk beds as my youngest was getting to big for his cot, honestly I don't really have that much to show for what I spent. Looking back at credit card statements it was mainly spent on household items and treating the kids to days out every week totalling up to £100 a time with Blackpool pleasure beach, zoo trips, theme park visits etc
I guess I was trying to keep the kids minds off the fact there dad had left, all they have ever known is him here since the day there were born. (DS 10 DD 8 DS 2)

I guess I spent the money on trying to keep their minds and my mind off things and spending money I thought that would help. I was wrong. Although il admit it did work for the kids they still talk about the days out we had so that's something I guess

I'm just waffling on here... once you start typing you just can't stop. Have a good day everyone! Looks like it's going to be a nice one! Maybe a trip to the park later and feed the ducks?

Honeysucklelou2

Well done on cutting the cards up. I have been known to put mine in the freezer in water in the past, in a bid to make it unusable on a daily basis but there for a dire emergency.

I have found a National Trust membership useful for days out, especially since there is no limit on number of children. I also benefit from being able to use their car parks which means free days out to beaches and coastal areas.

I'm a single parent too and have found and still find that simple days out at the park or walks in the woods are beneficial for us all. The best thing is time together and I am finding, in the case of my teenage children, that a walk out somewhere is the best way to get them off their screens!!

betweenrockandhardplace

well ive had a slight development which could be a good thing for me!
i explained i lost my job in Feb 19 and im currently working but zero hour contract and not actually having any hours for the first 12 days of May, yesterday i thought i need something more stable with reliable income if im going to succeed in paying these debts down quickly, I applied for a few part time jobs yesterday that i think could work around the current 15 hours free childcare i get for my 2 year old and my two oldest being at school.

I got a call back this morning and ive been given an interview and a trial shift on friday morning
i think its roughly 5 days a week 10am-3pm which works perfect for me, it would actually be easier to work weekend shifts to save on childcare costs, il have to discuss all this with them on friday but im hopeful

tlc678910

betweenrockandhardplace wrote: »

February 2019 came... i started struggling at work... emotionally, i knew i was suffering with depression... i took a week off on work related stress, when i returned they called me into a meeting... JOB LOST! boom. that was it. They blamed it on my childcare problems which i had suffered with but not for months before they sacked me. they just used this as an excuse i think to be honest
!

Hi OP,
You would have been entitled to take time off unpaid as parental leave to care for your children. You employer would not be allowed to discriminate against you for this. I wonder if you might want to try to put in a grievance/ take them to tribunal. This page suggests there is a three month window for a tribunal so depending on when they let you go time is very tight. http://m.acas.org.uk/index.aspx?articleid=1637

Good luck