Financially screwed

litty1990

Hello,

Currently in a bit of a pickle.  I had issues with my lungs due to long COVID and was off sick for the majority of 2024, the absence led to dismissal from my role in January 25. I've since made full recovery and just locked down my next job which I start in March.  The issue is, during 2024 my finances were abysmal as I tried to support my family (wife and 2 young kids) off sick pay, ended up in debt, obtaining bad credit etc. Since then I have gone with stepchange as a means to manage my debt, the issue now is I've got bills of £800 due in 7 days and do not have the funds to cover and then also will have the same in march whilst I wait for my first pay check.  I can't borrow money from relatives, Im not going to take a loan out and add to my debt but I do need a means in which I can create a bit of money whilst I start my new position.  Already on Universal Credit which was £400 and covered other bills, I'm trying to sell stuff old items but that's not sustainable and won't be enough to get me through to my first pay. 

I'm just in a world of stress and running out of ideas so thought I'd put it out there and see if anyone has any suggestions on how I am going to be able to live for the next month or so.

gwynlas

If you are already with Stepchange and this payment is to them then contact them and explain that you cannot make any payments until you receive payment from your new job. In fact I wouls give yourself a buffer of a few months to ensure correct tax code used etc.

Grumpelstiltskin

Looks like you could have jumped into a DMP too soon.

Did you let the debts default before you started with Stepchange?

Did you stop paying your unsecured debts and save an emergency fund?

Go across to the Debt Free Wannabe board and get the best advice.