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Original poster

To ask for advice with money

53 replies

Clackyheels · 05/12/2020 07:03

Good morning,

Wondering if anyone has any advice. I won't bore you with the sob story but my circumstances have recently changed and I've found myself in a very frightening position money wise. I have 2 small children, and already work. In order to keep our house etc I need to make some money quickly. Obviously, everyone wants this, but I'm desperate and wondering if anyone had some real life experience with this. I'm currently thinking dominos delivery? Not ideal but could probably do this for a bit until I'm out of hot water, selling mine and the kids old clothes? Any other ideas. Thanks in advance.

OP posts:
Original poster
Clackyheels · 05/12/2020 13:37

Yes, I've cancelled Disney. Well my debt is a fair whack, so as much as I could possibly pay of in ģ4 months.

OP posts:
Twinpeaksdancingman · 05/12/2020 13:41

Do you work full time? Can your current employer offer extra hours?

ivfbeenbusy · 05/12/2020 13:44

Couldn't DH have stayed in the house to avoid this even if you had split up?
Bear in mind that you aren't entitled to as much universal credit benefit because you have a mortgage (renters get much more help financially)

Tartyflette · 05/12/2020 13:45

Don't sell your jewellery to a jeweller, they pay peanuts.
If your jewellery is gold (any carat weight) look at Hatton Garden Metals, they buy scrap gold and pay A LOT more.. Their prices are tied to the London daily gold fix (a pricing system for gold bullion).
You weigh your gold and post it to them, they check it and pay the money into your account the same day.
For example, a 2 gram nine carat gold chain and a four gram 18 carat gold ring would net you a little over £150.
They have lots of reviews on review sites.

Carpathian2 · 05/12/2020 13:46

Have you considered Step Change? They're a charity that will help you work out affordable repayments on your debt. I've used them in the past to reduce some of my debts ( I'm now debt free) and they were very helpful. Good luck Thanks

www.stepchange.org/

delilahbucket · 05/12/2020 13:51

I would be speaking to Step Change as a first port of call to sort those debts into something manageable. It should ease the pressure. Amazon delivering is super flexible. You pick your time you want to work I think, pick up the parcels and off you go. You do need business insurance on your car though, as you would for any delivering. There are probably a lot of local restaurants needing takeaway drivers at the moment.
Clear out your house with stuff you don't need. Get it on Facebook if you need the cash. It's therapeutic to clear out as well.

freezedriedromance · 05/12/2020 13:53

I'd recommend posting on Money Saving Expert on the Debt Wannabe board. They're fab with this stuff!

Original poster
Clackyheels · 05/12/2020 13:56

Thanks everyone so much for taking the time to offer suggestions. I'm going to sit with my sister and have her go through this with me. It will all be alright in the end, if it's not alright it's not the end.

OP posts:
CCSS15 · 05/12/2020 14:01

Hi, go onto the money saving expert website and then onto the forums - I think its debt free wannabe. Do a statement of affairs and get the knowledgeable ones there to go over it for you - won't help for immediate earning money but may cut down on ongoing bills.

If you do switch utilities etc then use quidco for cashback

Have you looked at restructuring the debt - can you move it to a cheaper interest rate or negotiate with the current providers

Mortgage - as long as you are not in arrears or changing anything you should be able to switch interest rates - who is your lender? If you're at risk of missing payments speak to the lender about payment holidays / switch to interest only - did you do a covid payment holiday? Not the cheapest thing to do as interest still charged but could give you some breathing space

BackforGood · 05/12/2020 14:16

There are also a LOT of informal groups around here who have set up food banks and will even provide hot, nutritious meals, since the pandemic struck - they just respond to a request for help, you don't need to be referred like you do with the longer established food banks.
Our local authority also has funding to support families in need. Ask someone approachable at your dcs' school or at your local CC or maybe your HV (don't know the ages of your dc). Honestly, the money is there. This is not a time to be proud.

DontBeShelfish · 05/12/2020 15:42

Bless you, OP, it's shit isn't it. You've had loads of good advice here, I just wanted to say that I've been there and I understand.

Teaand · 05/12/2020 16:07

If you are on a low income them you can get a discount from your energy provider. I think its called warm home discount

Love51 · 05/12/2020 16:27

Definitely talk to stepchange / cab / cap (Christians against poverty). They can make sure you are claiming everything you are entitled to. You sound very resilient and full of get up and go. You will get out of this situation!

Jamie8671 · 05/12/2020 17:14

Hi OP!

Not financial advice as I am not qualified to provide that.

Extra job stuff sounds good. As you’re in debt, could you also talk to StepChange (they are a charity that specialise in helping people with debts). Make sure you actually go to their official site as there are some unscrupulous companies that pay for their name on Google Adwords.

After speaking to StepChange it may also be worth engaging with your mortgage lender and asking them to outline their forbearance measures for you and the implications that each of them have for your longer term finances.

That sounds ‘fancy/corporate’ but that will be their internal language. They may be able to offer things like payment breaks etc and the FCA have strongly encouraged/told lenders that they need to have supplementary COVID policies in place to protect the vulnerable. It sounds to me (just an opinion again) that you may be classed as a ‘vulnerable customer’ and they will have policies and processes in place to help you avoid financial detriment (As much as it is within their power to do so) and to treat you fairly.

I’m afraid none of these are definite. All the best to you and your family x

Jamie8671 · 05/12/2020 17:19

Just a short addendum that lenders have policies like this in place for a reason and you absolutely should not have any guilt around your situation. It’s been a tough year x

Ukholidaysaregreat · 05/12/2020 17:36

A lodger could be possible if you move your children back into your bedroom. Maybe with a 2 year time limit or something to get you back on your feet and help with the mortgage. Rent from a lodger could cover a chunk of the mortgage and help take the pressure off. Can be difficult to live with a lodger if you are used to your own space. Good idea to work things out with your sister.

Jamie8671 · 05/12/2020 17:57

@Clackyheels alongside my other post this is well worth reading and asking your mortgage lender about www.moneyadviceservice.org.uk/en/articles/help-for-mortgage-prisoners

DianaT1969 · 05/12/2020 18:03

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DianaT1969 · 05/12/2020 18:10

Maybe put a post on NextDoor saying you are available to babysit children at your home evenings, nights and weekends (whichever hours you are not working). Perhaps you would need a DBS check and to do an online child first aid course. I'm not sure if the requirements are as strict as a full-time childminder.
Who looks after your DC when you are at work?

Jamie8671 · 05/12/2020 18:12

@DianaT1969 I think it is really irresponsible if you to suggest match betting in this scenario and have reported. It’s an acquisition technique for betting companies to prey on potentially vulnerable customers. Not cool

Jamie8671 · 05/12/2020 18:16

@DianaT1969 case in point. www.gamcare.org.uk/forum/new-members-intros-forum/gambling-addiction-as-a-result-of-matched-betting/

@Clackyheels ignore this until it is reported it is a nightmare waiting to happen and Diana might be trying to help but is poor advice

DianaT1969 · 05/12/2020 18:26

@Jamie8671 - bookies don't like matched betters at all. Because they don't make money from them. They actively and constantly evaluate bets to weed out match betters and ban them.
But I agree, it isn't right for OP as it's something to do when you aren't stressed and in financial straits. I did say that.
However, she will see it regularly on the make money threads here.
It's not illegal and it is tax-free.

BackforGood · 05/12/2020 18:28

Please ignore DianaT's terrible advice.

I too have reported (before I saw others had)

Do take on board the advice to speak to ChristiansAgainst Poverty or stepchange for support and advice.

Dashel · 05/12/2020 18:37

Could you change bank accounts? Sometimes banks pay you around £200 to change. Do you have anything you can sell? Old phones, junk in the loft etc?

Jamie8671 · 05/12/2020 19:39

You are in the wrong here @DianaT1969 and it’s not cool that you’re trying to defend it. I’ve provided credible Gamcare sources and that you’re continuing to bang the same drum implies to me you do not have the OPs best interest at heart. 🍑