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i know ive messed up...please help!

(4 Posts)
user1468594353 Sat 08-Oct-16 12:10:23

ok so I know ive messed up big time but I just don't know what to do.
I had no choice but to take out 2 separate loans (at different times, 1 for £4k and another £5k). at the time I was able to make the payments every month but now circumstances have changed and I have had no choice but to put my son into nursery for 5 days a week, instead of 3. I also have credit cards which from this month I am unable to make the minimum payments on. the other half didn't tell me about his debts so ive only just found this out. we literally cant get by every month now. what do I ? take out another loan to pay off one of them? that would free up just under £200 every month and help me survive. my son never goes without and I don't go clothes shopping or live a glam lifestyle, don't get my hair cut etc. but now things are super tight and don't know how im gonna make it through the month. any suggestions would be so useful before I do anything stupid like take another loan/ credit card out. I know taking the first 2 loans out was stupid but I had to pay for 2 unexpected immediate family deaths in the family in different countries. please help! thanks x

Mum4Fergus Sat 08-Oct-16 14:20:19

I'd start with a full joint budget and list absolutely everything-get a hold of 3-6 months worth of bank/card statements and make sure you budget for everything.

Once you know all your outgoings go through them one by one and decide is it a need (rent, mortgage, gas/electric) or is it a want (mobile phone, TV packages)...get rid of your wants and look to get cheaper deals on your needs.

Meal planning will help get your food budget down.

Are you claiming any/all benefits you might be entitled to?

RJnomore1 Sat 08-Oct-16 14:25:13

Do you know how much you owe in total abd what interest rates you're paying?

nam207 Sat 08-Oct-16 14:28:07

And if you do everything mum4fergus suggests and you can't make your payments you could contact a charity like step change to give you some advice

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