Some advice please

1235

Comments

  • fatbelly
    fatbelly Posts: 20,455 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    A_new_Start wrote: »
    I checked on parkers and it suggested my car could be worth 2500....i didn't pay for the advanced search but it will be less than that as it has some minor damage and higher mileage than they allow for. I think selling it will be the answer. If I sold it now, then applied for the DRO would they look at that like I was being dishonest? And if I sold it and couldn't get a suitable car right away would they then not allow the DRO because I had a pot of money spare?

    The rules are not flexible. You qualify if:
    • not a homeowner,

      Debts less than £20,000,

      Can have a car worth up to £1000,

      No other assets of more than £1000,

      Must have £50 or less left at month end, after all essential payments have been made (not inc debt repayments),

      Cannot have had a DRO in last 6 years
  • A_new_Start_2
    A_new_Start_2 Posts: 131 Forumite
    First Post First Anniversary Combo Breaker
    edited 24 April 2019 at 5:09PM
    Just a quick update.
    Had a very long talk with Stepchange (1 hr 45 mins!!) and went through everything. After some thought overnight I have decided to try and avoid DRO/Bankruptcy or IVA and have managed to get an extra shift a week at work which I hope will help put me in a better place. I will be contacting all creditors to ask for temporary payments of £1. I have also applied for a grant for help with the council tax arrears. One question I do have is this: Having worked out my "new" wage my workplace pension contributions will now go up to about £40. How can I get these reduced? I contribute 4% at the moment, only been in the scheme for about 2 years so not much of a pot. I think I need the £40 more than my pension does right now.
  • WhenIam64
    WhenIam64 Posts: 1,052 Forumite
    How can I get these reduced?

    You can opt out and set up your own pension plan. WP are obligatory on the employer but not the employee. Some information here

    https://www.gov.uk/workplace-pensions/if-you-want-to-leave-your-workplace-pension-scheme

    and

    https://www.gov.uk/employers-workplace-pensions-rules
    Unlike some here, I am not omniscient. If I am wrong correct me. I won't take offence.

    The law is like an ocean - have a swim but don't drown.
  • MallyGirl
    MallyGirl Posts: 6,610 Senior Ambassador
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    note that you will lose out on the free money from your employer if you opt out so, if you really must opt out then do it for as little time as possible and then opt back in as soon as you can manage it. Your future self will appreciate what those £40s have grown to over time.
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
  • A_new_Start_2
    A_new_Start_2 Posts: 131 Forumite
    First Post First Anniversary Combo Breaker
    I know cancelling is not ideal but my plan is to leave for 12 months then re join :-)
  • Tinkerdebt
    Tinkerdebt Posts: 1 Newbie
    I am sorry to hear this.
    Firstly from reading some of the posts, I would not advise stopping pension payments. If you are 48, best you keep paying into this.
    My suggestion would be to arrange a meeting with your bank and see if you can consolidate your debt into repayments that are low.
    Secondly, I would apply for part time jobs. The only way you can get out of this is to increase your income.
    Could you use public transport and or walk?
    Consider going into a house share, this would cut your rent just until you are on your feet again. I know you are probably used to living in your own but needs must if you want to get out of this.

    I would suggest listening to Dave Ramsey, he is very good.
    I hope all works out. You will have to make sacrifices there is no doubt about it but in the long term you will be better off for it.
  • pennystretcher
    pennystretcher Posts: 458 Forumite
    First Anniversary Combo Breaker First Post Mortgage-free Glee!
    What about your mobile contract? Are you still in a deal? If not, check out Uswitch as I reckon you can shave off about £6-£7 off per month.
  • pennystretcher
    pennystretcher Posts: 458 Forumite
    First Anniversary Combo Breaker First Post Mortgage-free Glee!
    Bedsit_Bob wrote: »
    You've never had them try to "confirm this with a visit to your address."?


    I've not seen any Capita people behind my door (Capita do the TV licensing inspections) since I cancelled my TV license about four years ago.. :rotfl:...in all honesty I should have cancelled it ages ago as I have not missed it a bit! (Youtube, dailymotion etc have more than enough programs for me to watch!)
  • A_new_Start_2
    A_new_Start_2 Posts: 131 Forumite
    First Post First Anniversary Combo Breaker
    pennystretcher wrote: »
    What about your mobile contract? Are you still in a deal? If not, check out Uswitch as I reckon you can shave off about £6-£7 off per month.
    In a contract with Plusnet sadly, until next April. Have called them and they 100% will NOT budge. Asked them to downgrade my package for broadband and they won't.
  • pennystretcher
    pennystretcher Posts: 458 Forumite
    First Anniversary Combo Breaker First Post Mortgage-free Glee!
    Shame about the mobile :(



    What about your electricity and gas? Have you checked the balance on the accounts to see if you have any surplus there you could request to refund?
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