Unemployed and in debt

kailey_3

Thanks. Thats what were thinking where is that money going because we dont go out and spend money, we cant remember the last time we bought something for ourselves like clothes etc.
apr % and stuff confuses me!

kailey_3

I went onto that SOA link but i dont understand it, i dont know what the APR % is on my debts, should i know?! I sound so dumb lol
After i did filled it all out i didnt know what to do afterwards it said something about copying it and posting it in some website... i got confused!

**Amy**

Dont worry about feeling dumb hun, i had no idea when i started coming on here about APR.

APR is basically the amount of interest you pay on your Credit card or loan etc.

The higher the APR the more you pay back and the more time it is liekly to take you. The main reason we ask for it is to see which loan is the higher APR so therefore the one you should probably try and tackle first.

For example mine is my Credit Card. I am paying the normal payment on my loan, and overpaying on my credit card as its interest is quite high. The loan to my mum is last to repay as it has 0% apr (its a family one!).

Hope that makes sense.

x

dancingfairy

Arggh I wrote a really nice long reply for you then and it's gone. Anyway:

Can you get on a apprenticeship/nvq/cooking course etc as you are in receipt of benefits? some schemes go up to 25 I think. Ask your job centre - they should know.

Food - your food bill is quite large. I am sure you can get that down by making homemade soups/spaghetti bolognese/chilli etc. Eat half and freeze half. Also see if you can get your Oh to take sandwiches/cheap meals to microwave to work eg potatoes and beans/ a pie etc.

Have you got a Wetherspoons or other large pubs near you? they always seem to be looking for kitchen/bar staff- I appreciate it might not be exactly what you want to do but it would be a start.

Electric/Gas - try and turn everything off apart from fridge/freezer. Get low energy light bulbs- they seem to always be on offer in supermarkets/given away with newspapers etc- keep an eye out. You should be able to get this right down now it is summer and maybe get yourself in credit. No leaving t.v on standby/mobiles on charge overnight, etc, etc.

It sounds like you are really doing all the right things. There are obviously a few areas you may be able to cut back on while you are unemplyed. Apart from that check you are getting all the benefits and try and find a job (easier said then done -i know I am unemployed right now as well).

Good Luck.

continualdiamond

Just wanted to offer that my thoughts are with, as i am in exactly the same situation, except i am the one working and my OH is unemployed and has been since Feb. He only gets JSA and we cannot afford to do anything socially, in fact we don't have a social life at all. Everything is out of the question, i just work to pay the bills, keep the house and feed us.

kailey wrote: »

I used to pay my debts with a DMP which was so much easier but when i became unemployed i asked if i could lower my payments and the lowest they would accept was 120.00 and when i looked into it not much of my debt had been paid off.

Who is this with?? As we are in a DMP and due to my OH being unemployed, they have dropped the amount down to £1 each, so we are paying £11 in total.

Ever bill is paid late, were always in arrears with the council tax, we dont go out anymore as we cant even afford one drink in a pub.

Why are the bills paid late/arrears with council tax??? Could not switching payment dates around work out? Basically with us, i changed our bills to being paid 2 days after i get paid, as i am paid monthly. That way they're all met and on time and whatever is left, we know has to cover food shopping/petrol for the next 4 weeks, thus no bills paid late or missed

Thanks

Best of luck

kailey_3

continualdiamond wrote: »

Just wanted to offer that my thoughts are with, as i am in exactly the same situation, except i am the one working and my OH is unemployed and has been since Feb. He only gets JSA and we cannot afford to do anything socially, in fact we don't have a social life at all. Everything is out of the question, i just work to pay the bills, keep the house and feed us.



Best of luck

My DMP was with all clear finance and I asked if i could lower the payments each month and they said the minimum was 120.00 even though i explained i was unemployed.
The council tax is in arrears each month cuz we pay bit of each week, as my OH gets paid weekly i prefer to pay it like that incase we dont save the money, but sometimes my OH wont even get paid 200.00 so we end up missing a payment cuz we gota pay rent etc.
They've not complained yet, cuz its usually 2-3days late, i think they give u up 2 7days.

MrsTinks

Ok... problem number one... fee paying Debt Management Company... You need to switch over to one of the free servcies inmy siganture as soon as possible.
That way what you pay goes towards the debt and NOT paying for someone in an office doing b*gger all!
Send a letter to each of your creditors stating you are unemployed at the moment and will unfortunately have to drop your payment to £1 a month for the time being.
There is a template around on here and I'm certain on the CCCS website you can use. Send it recorded and include a cheque for £1 to each of your creditors.

If you are not careful with paying your council tax on time they can and WILL demand that you pay it in a lump sum rather than weekly/monthly...

There is plenty you can cut back on - like the £5 a day your OH spends on lunches! Nip to the OS boardfor food ideas and do some of the challenges.

I also think you definitely need to do a spending diary to keep a track of your money...

kailey_3

Hi, yeah i have already sent letters to my creditors. I used templates off national debt line, i had 42.00 left when i did a budget and national debtline divided that into what i can pay each creditor.
Nearly all of my creditors have replied saying my offers were to low though.
I went on the CCCS website and they were very helpful, I am going to ring them tomorrow see if i can get a DMP.

kailey_3

**Amy** wrote: »

Dont worry about feeling dumb hun, i had no idea when i started coming on here about APR.

APR is basically the amount of interest you pay on your Credit card or loan etc.

The higher the APR the more you pay back and the more time it is liekly to take you. The main reason we ask for it is to see which loan is the higher APR so therefore the one you should probably try and tackle first.

For example mine is my Credit Card. I am paying the normal payment on my loan, and overpaying on my credit card as its interest is quite high. The loan to my mum is last to repay as it has 0% apr (its a family one!).

Hope that makes sense.

x

How would i find out what the APR is?
Thanks for replying x

MrsTinks

Easy way is to contact the creditors and ask them That way you have it in writing.
CCCS is more than likely going to tell you to keep paying £1 a month and keep sending the letters to the creditors advising them that as soon as you have more to give, you will give them more.
Ultimately they cannot have money you ain't got to give
Just keep your focus on jobhunting - something will turn up