Please help me work this out!!

[ohnowhatnow123]

I honestly just don't know what to do and need a fresh pair of eyes to help me evaluate things.

Our financial status is currently so bad I just don't see a way out! I'm not working as I'm studying and will be working in the next year hopefully, my hubby works and we have 3 small DC's, all under 6. We have a mortgage and also have a debt management plan in place. When the pandemic started we were put in a position where we had to borrow more money (I know this was a really bad decision but we didn't feel we had another option). We are now at a point where we have more outgoing on debt than any other outgoings, we constantly can't afford repayments which means we end up constantly behind on bill payments. I've already taken more breaks from our mortgage than we should have done so that is no longer an option. I just feel so defeated. I feel like our lives are falling apart, even my health is now deteriorating and I think it's all due to stress. I just don't know what to do anymore.
I know a common suggestion is to sell things but we are at the point we have nothing left to sell!

There is something relatively new called Breathing Space which stops creditors from contacting or chasing you for 60 days while you come up with an affordable payment plan. You have to do this with a debt advice provider such as Step Change so maybe ask them if it’s appropriate for you.
Alternatively try another advice agency such as Christians Against Poverty.
Good luck with your studies. It may not feel like it now but one day you will be debt free.

I would recommend Christians Against Poverty. They were very helpful to my sister and her family. You don't have to be a Christian to go to them and they don't proselytise.

What does your husband do? Can he get anything a bit more stable and/or better paid?

I would contact Christian's against Poverty. They do not charge anything. I have had experience with them and my understanding is that they work out what you need to live on and then the remaining monies are used to repay the debt. They also negotiate with your creditors. I think you pay them one
amount each month which they distribute. Any correspondence you receive you post to them. They come very highly recommended by Martin Lewis.

Most unis have a crisis payment you can apply for. At man met a few years ago you could apply for 1500 a term

Thank you for all of the helpful advice. I have emailed my university to see if they could help and I am also going to contact step-change after work today to discuss lowering our monthly payments to give us a bit of breathing space

@ohnowhatnow123

Thank you for all of the helpful advice. I have emailed my university to see if they could help and I am also going to contact step-change after work today to discuss lowering our monthly payments to give us a bit of breathing space

Good luck OP. I wouldn't enter the conversation with wanting to just lower your payments - in general you need a review and let them guide you on all options,a DMP might not be the best option anyway so worth them fully reviewing your situation.

Universities can offer discretionary grants as well as loans from their hardship loans so definitely go and see student support services.