To wonder if this would help or hurt me?

[Sharkirasharkira]

My finances (and emotions) are in tatters after a bad breakup which left me pretty much homeless and destitute. I have now got myself a room in a shared house but I've had an attachment to earnings put against me for a 6yr old debt I knew nothing about which means I'm losing around £150 a month and I've also been informed my contracted hours are going down due to changes in the company. I am fucked, to put it mildly. I'm in touch with the debt company to try and reduce the amount I'm paying out but there is no guarantee they will agree to reduce it.

I desperately need a better job but due to where I live and bad public transport, it is proving very difficult. I have a motorbike which is my only transport and costs significantly less than I'm paying in bus fare to run but it's currently off the road - it was written off after someone hit me earlier this year. Having the bike working would help massively as it would enable me to look for more jobs with better earning potential but I have no money to fix it. I have nothing I can sell, am not eligible for any benefits and finding a second job is very difficult due to the same transport issues and needing to remain 'fully flexible' for Job 1. I can't borrow any money off family/friends and have terrible credit. I can't reduce my living costs any more than I already have, I really pay out for only the essentials.

I'm so stuck. The only thing I can think to do is to try and get a payday type loan (only one I can get) to try and get my bike fixed so I can get a better job but it's a huge gamble because if I can't find anything else then I'm left paying out even more money every month to pay it back.

Wibu? Is this a really terrible idea?

[scattercushion17]

Hi, I didn't want to read and run. I'm really no expert but what about citizens advice bureau? I know you are desperate but I think a payday loan will only end up being a bigger problem in a few weeks. Good luck.

[Bambamber]

Don't get a payday loan! The interest rates are fucking horrendous and if you don't have the money to pay it back you will get stuck in a really shit cycle.

[Aquamarine1029]

Payday loans are a TERRIBLE idea. It will only set you back even further. I would ask/beg a local mechanic if they can work with you on a payment plan, trade (work for work), anything but a payday loan.

[Magicstar1]

Any chance you could claim off the insurance of the person that hit you?

[Racecardriver]

Don’t get a payday loan. Why isn’t your insurance/the person who hit you’s Insurance fixing your bike for you?

[Sharkirasharkira]

I appreciate the suggestion but what will the CAB actually be able to do though? If they can't give me money, which I assume they won't?

I have tried begging for help to get it fixed and actually did have someone agree to help but they have disappeared and I really can't push the issue since they were going to do it for free.

No one local that I've asked will accept payment plans and I can't trade work for work. I know a payday loan is a bad plan but I don't know what else to do. My cbt which I need to ride the bike is also expiring next month and I need £100 to renew it, which I also don't have. It needs an MOT once it is fixed. Which also needs to be paid for! Fml 

[Rednaxela]

If you're going to borrow money please do not do it that way. Use the money saving expert free credit card check tool. Talk to your bank. Ask your family if any are in contact.

[Sharkirasharkira]

Their insurance paid out just £360 for the bike as it is a cheap Chinese one and not very valuable. Not viable to fix apparently, hence it was written off. £360 paid for replacement parts and nothing else sadly.

[NotAllIndividuals]

Sorry if this is a bit Captain Obvious but could you apply for jobs that would be accessible by bike then get a loan once you scored the job and knew a pay cheque was on its way, or get public transport for the first month then fix the bike?

Depending on the damage to the bike could you try and trade it for a cheaper model that's working? I'm guessing there's a glut of 125's once people pass their test and move on to bigger bikes?

[Sharkirasharkira]

I really don't have any choice! The only credit cards I can get are those super high interest ones with a maximum limit of about £300. It's not enough. Family can't help.

[NotAllIndividuals]

Ah, cross post. What about lift sharing apps or swapping a motorbike for a push bike? Not great in winter but will keep you fit.

[VillanellesBrownWig]

Have you looked into a debt relief order?

[MrsMoastyToasty]

Get yourself down the CAB or a similar FREE debt place. They will be able to renegotiate the repayments and look at all your finances.

[BiscuitMachine]

The attachment of earnings seems a lot, if you are struggling. Is the debt definitely yours? Is it through the County Court? If so, it should be for an amount which is affordable. Contact the court to say your circumstances have changed and you would like the payment rate to be reconsidered.

[Sharkirasharkira]

@NotAllIndividuals my bike is a cheap 125 already, anything smaller wouldn't be much use to me. You would think there would be loads, and there are, but they are expensive for what they are. You can easily buy a 'big' bike for half the price of a 125.

Many jobs around here are in remote locations that stipulate that you need your own transport due to the location as there is no public transport, or none available at the times you need it. I can't afford a month of taxis 

[HeddaGarbled]

Agree, with PPs - a pay day loan will trap you into a cycle of ever increasing debt.

Do you want to tell us more about this 6 year old debt you knew nothing about? Was this something to do with your ex?

You are doing the right thing in trying to get the repayment reduced.

Can you try and move somewhere where it will be easier to get to work?

[AtSea1979]

Have you stripped back all your outgoings? You need to look more long term not get fixed on a short term plan as there’s no guarantees.
How many hours have you lost?

[JellieEllie]

You could apply for local benefits to top up your earnings. UC, housing benefit, single persons discount on council tax, DHP.
If your earnings are too little all these things may be able to help you.

[Aquamarine1029]

No matter how hard things are now, a payday loan will only make things worse. It would be a massive mistake.

[Aridane]

www.moneyadviceservice.org.uk/en/articles/alternatives-to-payday-loans

[abacucat]

Jellie Single people get very few benefits. The OP is probably not entitled to anything or very much.
OP go to the CAB and get your debt renegotiated. That is the only real solution here.

[shaftedbythesystem]

Would you qualify to buy a new or newish bike on a credit deal?

[attentionspan]

How did you not know about this debt from 6 years ago, and how come there is an attachment order?

Have you taken advice about this? Citizens Advice might be able to help you arrange for the repayments of this old debt to be reduced, when taking your new circumstances into account.

And please please DO NOT TAKE OUT A PAYDAY LOAN, it will only make matters a thousand times worse.

[AjasLipstick]

Couldn't you go bankrupt? Or speak to Debtline? My friend had bad debts and Debtline helped her arrange payments of something like a fiver a week.

it saved her life....I think they have to take what you offer. Unless it's HMRC or something.

[catlady3]

Possibly not helpful, but if your bike was written off, doesn't that mean the cost of repairing it would be more than the value of the bike? And they would have paid you the estimated value, so repairs would be more than you got from the insurance.

I'd look into a used bike or scooter and trade in your write off, they may be able to use it for parts.