Help pregnant and in debt so worried :'(

Tinkerbell-25

Thank you every one for replying... So i'm a care assistant so out on the road alot so slow in replys sorry..

I spoke with Citizens Advice about my worry's and they said that bankrupt would be the only way forward for me.... Plus i'm seeing my aunt next week who's un accountant and from quick call she said the same about being made bankrupt which will take up to 12 months to do then 5 yrs plus with no credit then as i understand it i'll have problems when me and my partner wont to get married, buy a house and bank cards ect?

ok i've taken note that you all need to know my income and outgoings so here it goes!

Only income:-
£1079.13 a month (but some times a little more or less cos of job)

Out going:-
MBNA £106.11 minimum payment *CREDIT OWED £4,716.02 AS OF MAY 08
HALIFAX CARD £112.67 minimum payment * CREDIT OWED £5,889.04 AS OF MAY 08
Egg £21.37 minimum payment *CREDIT OWED £802.24 AS OF MAY 08
LOAN 1 £259.22 a month *Loan taken out Jan 05 over 72 monthly payment
LOAN 2 £134.57 a month *Loan taken out March 07 over 86 monthly payments
Board money £75.00 a month to partners dad for living there
Moblie £90.00 a month (my mob & partners as he pays for my car!)
Petrol £100.00 a month needed for job
Plus i've a £900.00 overdraft to payback to bank! So wage go in and gone!!!

PLS note for for my credit cards i don't pay the minimum payments! Ie this month i paid £250.00 on halifax, £110.00 on mbna and £60.00 on egg.....

Sorry hope this is what u need to know?

Tinkerbell-25

Thank you every one for replying... So i'm a care assistant so out on the road alot so slow in replys sorry..

I spoke with Citizens Advice about my worry's and they said that bankrupt would be the only way forward for me.... Plus i'm seeing my aunt next week who's un accountant and from quick call she said the same about being made bankrupt which will take up to 12 months to do then 5 yrs plus with no credit then as i understand it i'll have problems when me and my partner wont to get married, buy a house and bank cards ect?

ok i've taken note that you all need to know my income and outgoings so here it goes!

Only income:-
£1079.13 a month (but some times a little more or less cos of job)

Out going:-
MBNA £106.11 minimum payment *CREDIT OWED £4,716.02 AS OF MAY 08
HALIFAX CARD £112.67 minimum payment * CREDIT OWED £5,889.04 AS OF MAY 08
Egg £21.37 minimum payment *CREDIT OWED £802.24 AS OF MAY 08
LOAN 1 £259.22 a month *Loan taken out Jan 05 over 72 monthly payment
LOAN 2 £134.57 a month *Loan taken out March 07 over 86 monthly payments
Board money £75.00 a month to partners dad for living there
Moblie £90.00 a month (my mob & partners as he pays for my car!)
Petrol £100.00 a month needed for job
Plus i've a £900.00 overdraft to payback to bank! So wage go in and gone!!!

PLS note for for my credit cards i don't pay the minimum payments! Ie this month i paid £250.00 on halifax, £110.00 on mbna and £60.00 on egg.....

Sorry hope this is what u need to know?

poppyg_2

Could do with someone posting the link for you to do in a more user friendly format which shows whether you have positive or negative balance, help someone??

It doesn't look to me as though you need to go bankrupt, debt doesn't seem that high and your earnings aren't bad, especially as you only pay board as opposed to owning a house and having tons of bills

Have you tried doing the CCCS online debt remedy to see what that comes up with? I'm sure you could do a DMP. it's on www.cccs.co.uk

kacie

hi, do you pay out on anything else a months eg, food, clothes etc. Are your mobile contract or pay as you go?

Tinkerbell-25

yes moblie's is contact..... no i thankfully don't pay out for anything else

poppyg_2

I really don't think bankruptcy is needed for your level of debt, am sure you could do a DMP to get the debts paid off

Maybe you could try writing to your creditors to ask if they would accept lower payments and freeze interest on your accounts to help you get them paid off?

LilacPixie

http://www.makesenseofcards.com/soacalc.html

there is a link to a more reader friendly version of the SOA.

Another thing to consider is you don't *have* to take 52 weeks maternity leave. and even if you do you may be entitled to SMP for the first 39 weeks of that leave anyway plus your employer may even offer an enhancment to that.

From reading your post I also don't think BR should be considered without at least attempting a DMP.

Tigger1983

Hi Tinkerbell, and congratulations! Don't feel guilty it's understandable that your worried, but there are loads of people here who can help. I've only been on a day and feel better already!!

I would talk to the CCCS as many others have advised. I did that this morning (and the national debt helpline) and both were very understanding and very helpful. They explained the options in great detail, and gave me some ideas of things I can do instantly to help. The cccs gave me a reference number to tell my creditors and ask them to freeze the interest. Obviously this is down to the individual companies, but worth a try. Interest can be a huge part of your minimum payment each month!

Also try to cut down your mobile bill... I thought I was locked into a contract with BT on a higher plan that I needed but when I rang them and told them I didn't want to get out of it just reduce it so that I could meet the payments they did it straight away!!

We are also looking at bankruptcy as another possibility, and it doesn't seem as scary as you have been led to believe, check out the bankrupt and dealing with it part of the forum. It's by far not an easy way by the sounds of it, but not the end of the world either!!

Well done on not just paying the minimum off a month though!!

Love and hugs for you, OH and bump!!

Tig xx

Tinkerbell-25

Thank you Tig :-) xx
I just feel so lost and confused but will make these calls asap

poppyg_2

I agree with Tigger regarding your mobile, I'm in an 18 month contract with O2 but I did manage to call them and got them to switch me onto a lower tariff, only saving £5 per month, doesn't sound like much but it all helps when trying to clear debt

I think you'd feel much better if you spoke to one of the debt charities already mentioned, you can ring more than one for advice if you want more than one opinion so you can choose the way forward yourself