Advice Please £16000 Debt 8 Months Pregnant

TotallyBroke

I see from you SOA that you didn't earn very much per month before maternity and neither does your partner. This means you should qualify for the Sure Start Maternity grant. If they have this in your area. It's £500 to buy things for the baby. Look on the NCT website as well for nearly new sales. A friend of mine bought a moses basket for £20. It was in excellent condition it had been used twice as baby wouldn't sleep in it and parents decided to co-sleep. I was very lucky I had hand me downs from my sister and I was given loads of stuff. Cot mattress and bottles were the only new things my ds got apart from gifts from people and he didn't get them until he had grown out of moses basket and I went back to work.

abc123me

you need to work out pro rata amounts that you can afford to pay each creditor from the disposable income you have left. how ever if this is less that 1% of your MBNA balance they won't accept it. They told me the debt must be cleared with in 10years. some thing to do with their guidelines? Don't forget car maintaince and car tax over the year, also emergency money for those things that you don't think of but end up needing.
Just an little note MBNA will not negiotate a reduced payment until your at least one payment behind and will need a copy of your SOA

-MRS_T-

Thanks for all the great comments and tips I am really thankfull.

I have already started making some changes. I joined pigsback today and have got £1.50 already. I am going to sell my wedding dress and 4 bridesmaids dresses and shoes on ebay. I will take some pictures and get them listed asap hopefully that should out a wee dent in it.

Im really lucky in the respect I have a large family and I have managed to get a few items from them for the baby so thats good, im quite happy to accept anything i can get really. Hubbys mum bought us a 3 peice furniture set all to match for the nursery, my mum and dad bought wallpaper, got curtains and bumper set off ebay 2nd hand, and I used my xmas money to buy a new carpet so the room is absolutley gorgeous. im soo excited about the arrival of our little baby i think thats whats keeping me going really

RAS

MSr T

ABC123me very new to MSE, works in a money related job and is posting up on threads that relate to MBNA.

Whilist there is nothing to stop an MBNA member of staff posting on here, they are required by MSE rules to declare their background before they give advice.


They have ben reported to abuse.

-MRS_T-

I have also had a plan that i am hoping will work.

I really dont want to default to any of my creditors so i was thinking of this.

Get a loan of 15k to pay off mbna and my car loan. The loan for 15k costs appx £300 pm, and my car loan costs £127pm so i would only need to find an extra £173 for a year as in April next year I was going to remortgage my house and take the equity out of that as wwe put a 10k deposit down to be able to buy the house so we should have enough equity to be able to do that.

What do you think??

-MRS_T-

Thanks Ras


ABC123me very new to MSE, works in a money related job and is posting up on threads that relate to MBNA.

Whilist there is nothing to stop an MBNA member of staff posting on here, they are required by MSE rules to declare their background before they give advice.


They have ben reported to abuse.[/quote]

-MRS_T-

Can anyone tell me

Working Family Tax Credits
Family Allowance
Child Benefit

Are these all different things or are child benefit and working family tax credits the same thing?

painted_lady

Hi Mrs T.
Well done for facing up to the situation, telling your husband and posting here!
Next, congratulations on your pregnancy. I had my first, a little boy, back in April 07. A baby will bring you a lot of joy, some trying times, but the good times more than make up for it (my boy is good though, slept through night since 12 weeks old).
People have given you advice on your SOA, so I cant add anything else.
On a practical side, have you looked at the money saving in families board on this site? Join all the baby clubs, especially the boots one - they send you free samples/vouchers and so on, well worth joining. I am using washable nappies, cost me £20 to buy, have been using them since he was 4 months old (I dont think I wpuld have liked to use them from birth though as all the washing would have stressed me out at first, on top of everything else).
I think its a good thing you werent accepted by tesco, it seems awful now, but will be better in the long run. Your story is similar to mine. In Jan 06, I applied for a consolidation loan, was declined so carried on putting my head in the sand. I still managed to spend 6 weeks visiting relatives iN NZ/Australia in August if that year. It was then I realised I was oregnant. I had my proper lightbulb moment when I returned, I was grateful that I had been declined for a loan earlier that year. I began paying off my debt, which was roughly the same amount as yours (not sure of exact figure). I now owe £900. I was lucky because I was given a big payout for compensation, but still, this is only for £10,000 of the debt.
When the baby is born (I came 2 weeks early BTW and didnt realise I was in labour at first!!!) you will get child benefit, around £18 a week. Also, apply for tax and working tax credits.
Good luck and keep posting.
Excuse my typing, I have a bandage on my finger where I cut it, very deeply.

painted_lady

Just read your post before mine.
Child benefit is non means tested money you get for each child you have. You will get this money.
Working tax credit is money for being a working family. Even though your on maternity and partner is working, you can apply as a couple and might get something.
Child tax credit includes an element for having a newborn, a child and they can help with cost of childcare when you return to work.
These are 3 separate benefits. The hospital will give you form for child benefit when baby is born. You need to ring the DWP for a form to apply for child tax credit and working tax credit. I remember applying for them together on one form, then they write to you to tell you which, if any benefit you can get and how much it will be. They even back dated my claim and paid me the difference.
If you go to www.entitledto.co.uk it will give you an indication of what you might get.

headoutthesand

-MRS_T- wrote: »

I am going to sell my wedding dress and 4 bridesmaids dresses and shoes on ebay. I will take some pictures and get them listed asap hopefully that should out a wee dent in it.

Go on ebay and browse the completed listings for wedding dresses. This will give you an idea of how much you'll get for it. Also i would log onto some of the wedding website as they have forums on them where you can sell on there. Try ad trader and preloved too. Supermarkets notice boards are also one to try.

I sold one of my BM dresses at the fruit market boot sale, one on ebay and got one shortened last year for me to wear to my cousins wedding as a guest. I still have one left to get rid off but i will hold off till prom time at the schools and try then.

I saw someone mentioned a moses basket - i wouldn't bother with one. They grow out of them too quickly. the pram and a cradle would do.

Join the boots baby club - you get double points on all boots baby products FOREVER as well as pampers.

I had my DS2 on 8th Feb last year and would have to say that Tesco own nappies are as good as huggies and pampers. Boots own wipe are always on BOGOF and are the best own brand i have used - i only use them now.

Stear clear of Mothercare etc for babygrows and vests. Tesco and Asda are just as good and a lot cheaper.

In your SOA you said you spend £150 on petrol. Can you not get a bus from Kirkie into town? Once your there you can get anywhere. This is an awful lot to be spending especially when you have a small one coming.

You have to be aware that you won't get any child benefit or tax credits for about 6 - 8 weeks. You need to send the birth certificate away to claim CB then you need your CB number to claim tax credits. The only bonus is that you will get it backdated to the day the wee one is born.

Good luck with everything though - you'll be addicted to on here the whole time you are off (when the baby is sleeping that is:rotfl: )