Desperate, am I in the wrong place?

lucielle

Nobody wants me at my end. Thanks for asking. Any news FMN?
L

cheesedoffwithdebt

Forgetmenot68 wrote: »

After various events and sticking our heads in a hole, my husband and I find ourselves with over £49,000 of unsecured debts. Our bank of 20 years yesterday closed our account and will not pay any of our direct debits this month. They've transferred my husband's salary (a little over £1800 after deductions) to our new account, which is already overdrawn, plus my child benefit of £250. DDs due over the next couple of days and no funds available. I did the CCCS form today and they have no advice because we are overspending by £600 even before our creditors are paid (total is around £1000/m to them...) How could it have got this bad? Why have we been so stupid? I haven't been working because I've had children, one of whom was seriously ill, but obviously I need to get a job now. I'm scared I won't get one quick enough/that will pay enough to keep our debts from sinking us.

Am I in the wrong place? Our debts are massive, our income is miniscule and we have been incredibly stupid. I was just hoping for some friendly support as we begin the long struggle to sort this mess out. I have no plan as of yet - I'm still reeling.

Forgetmenot68

I take it you were banking with First Direct?( as you have overdrafts there). Just for the benefit of all reading- whilst they are a wonderful bank if you are in credit, I found them very difficult as my overdraft outstayed it's welcome there- and as far as accepting a DMP- forget it-so yes, do as the other post advises open an account that is not associated with HSBC or anyone else you owe money to, and make sure your priority bills are paid through there (mortgage, utilities, car etc). Good luck- its a brave step to admit there are problems, so well done you.:T

Forgetmenot68

Hello George and Lucielle - no job news . Book update.., in spite of encouraging comments I've had 5 agent rejections and gearing up for sixth and final from this batch... I'm changing my submission package and making yet more amendments to what I've written, but after this future round of 5/6 I'm going to accept what I've been told by said agents (ie. this is not a good time to be publishing a book like mine..) and put it away for a bit - write a novel, get a job, etc. Family fine-ish thank you George, though we've all just gone through a tricky anniversary. How are you both?

cowd - Thank you. FD were our bank for 18 years, and when they shut our accounts it sparked our "crisis". Though it felt harsh, now I'm very grateful to them for hastening our "lightbulb moment". They have been great with us, agreeing to freeze debt and accepted our DMP - I guess we were lucky.

FMN xx

Forgetmenot68

new signature....!

GeorgeUK

I'm doing away okay - will be going on holiday soon so trying to get geared up for that. Took a 5% paycut so really need to watch what i'm doing now although i think i have build up enough of a 'buffer' that i will be okay. When the 0% card runs out (£25 min payment) i will jsut be able to afford the monthly payments.

It may be tricky getting a new job in the current market, but you need to just keep plugging away and putting yourself forward.

I'm going to be keeping a spending diary again just to make sure i haven't slipped too much with spending and will be looking at redoing my SOA again to see where things stand. I've got everything on a spreadsheet so i keep myself on top of it most of the time but don'e want any surprises.

Well done on the new sig.

GeorgeUK

Update request.
How are you doing FMN? Not heard from you for a while.

Any news on the job front yet?
It seems that there are soon going to be even more people going in to the job market with the banks getting rid of their staff and only a couple of months before the end of the school term and lots of new job seekers on the market.

I remember where you were when you started this thread and according to the government, you should have 3 times your salary as savings to rely on in the event of a job loss. I don't even have 1 months worth in reserve.

I think getting something before all those other people hit the market would be best although i realise it's hard to find anything suitable out there right now.

Hope you're doing okay.
George

kpey

Wow - just wanted to say I LOVE this thread. Would be great to hear an update from FMN, your journey has been amazing to read and you are an inspiration!

Loving MSE as ever! :money:

Forgetmenot68

Hello George, kpey and everyone else too

Sorry not to have updated for a while and thank you for asking. The news is that I finally have an agent for my book, and they are approaching publishers on my behalf imminently. Really excited about that! :j I've also started writing a novel which I'm really enjoying, after the toughness of the first book. And I'm running the London marathon next week , raising money for a leukaemia charity. Unsurprisingly with all that I haven't been that successful looking for jobs, but am now living a semi-delusion that I might be able to make some money from writing. I know that's a bit silly though and am planning to have a new onslaught once the marathon's over. We are still managing within our budget and getting on with the CCCS. MBNA (our largest creditor at around £18,000) offered us a full and final settlement proposal the other day - to pay 30% - £5000ish...) I wish we had the money. Maybe if I get an advance though..?

Can I say again how grateful I am to this site, and all the people who have posted on this thread supporting me? I was a total mess, freaking out, and would probably have sunk without it. All the knowledge shared and reassurance given has been a godsend.

FMN xx

urg123

Hi FMN

was just checking the boards and saw you had posted. It's great to see you here!

It sounds like the DFW ways are really working. Great news on the agent too.

Good luck on the Marathon - with your grit and determination I know that you will finish AND raise lots of money.

Hope that advance comes through - getting rid of the £18000 would a huge weight off your shoulders.

Are you looking at other ways of upping your income - daily scratchcards and clicks. It may not be a huge amount but a few minutes per day could help you to make a bit of extra cash.

urg x x

Forgetmenot68

Thank you urg!

George, hope your situation is ok with the 5% pay cut? did you get away on holiday ok? You asked a few posts ago about my family situation. Pleased to report that we're all hanging in there, thank you.

FMN xx