I am a proper wally & the mortgage will bounce on Thursday. What to do?

[ravenAK]

Dh & I had a conversation last week in which I said that I'd pay the nanny this week (we usually take it in turns, I paid last week) because he is waiting to be paid for a job he did last month & it's taking some time to extract the fee from the customer.

I then totally forgot that we'd had this conversation (it was late, drink had been taken...) & have since been merrily online Xmas shopping.

Dh reminded me this morning. I checked my balance later today, & I don't have enough to cover the mortgage payment on Thursday, & the nanny who will be expecting her money on Friday.

So as far as I can see it, my only option is to ring C&G, explain, & ask them to take the payment later in December.

But if they won't, all I can think to do is to cancel the DD anyway, so that at least I only get stung for their 'admin charge' & not my own bank's bounced DD charge.

Will this seriously piss them off & make things worse?

I can't not pay the nanny on time - C&G can afford to wait!

does your DH not have enough to cover the nanny? or make up any of the shortfall?

Can't you cancel some if your shopping?

Can you phone the bank and ask for an overdraft facility to cover it?

Phone C&G they may be sympathetic. Do you have the facility on your mortgage to take a payment break? Have you overpaid at all?

Ask bank for an overdraft?

Can you not take a payment holiday on your mortgage? We take one every year in November to pay for XMas.

Call the mortgage company. I doubt they will mind, I delay payments all the time. As long as I pay before the next payment is due it's fine, no charges at all.

Dh is working away - he's either at work or in his hotel, & has his company credit card to pay for any expenses, but he doesn't have enough cash in his current account to move into mine, no - also he'd have to make time to pay it into a branch in cash (not enough time to move it online) & that's not really fair, when he's nowhere near one & this is my silly fault!

Can't cancel the shopping, all on Amazon, so paid for on Friday & delivered today.

I'm a couple of hundred short, & I'll have it next week when both dh & I get paid. Glad to hear they were OK with you TheSecondComing - fingers x'ed.

Thanks everyone. I hate this sort of thing - I just feel such a complete twonk, & I'm not normally when it comes to money, just knackered & stressed & completely forgot the agreement I'd made with dh! D'oh.

Can you get a temp overdraft? Should be quick to arrange.

Online banking is pretty mch immediate now thanks to FP.

Do you not have a credit card you could take a couple of hundred out in cash from.

If it's just a couple of hundred and you will be able to pay it back very soon then I'd be tempted to use wonga as someone has said rather than get a black Mark on your credit file.

But do phone your mortgage provider first!!

Either a temporary overdraft or ring C&G and explain. As others have said, they should be fine so long as you can clear this payment before the next one is due.

The only thing is, C&G might take their DD anyway on Thursday - because these things are computerised - and leave you without the cash to pay Nanny on Friday.

I have also used Wonga this month.

As long as the funds will be in soon you can arrange the borrowing around that.

The charges are not as bad as one would think.

Although it's not a long term solution.

Don't get into the habit of using Wonga every month like me

If C&G do take the money, you have up to 10am I think to phone the bank and recall the payment.

I have done this with my bank on two occasions. I was not charged for this.

I'm with Santander

Spottydog - I can afford to pay about £800, rather than the about £1k that's the full payment. It hadn't occurred to me that that might be an option, so thanks, I'll suggest it to C&G.

You're right that it'd be better to have savings! Usually we do, but we're both waiting on payment from work done, plus we've taken quite a hit on childcare costs recently (long story...)

& yep, it would definitely have been wiser to defer the shopping until the money owed to us was safely gathered in, which is exactly why I'm cross with myself. Dh & I had a brief conversation which basically went: 'X haven't paid that £2k they owe me yet & I don't know if I'll get it before the end of next week now - can you pay the nanny & I'll get the next two?'

& I just said 'sure, no problem' & then forgot all about it...

Why not increase your overdraft facility?

DO NOT USE WONGA!!!!

borrow from a friend or relative, you would be mad to allow a black mark on your credit history which will have wider conotations in the future. Alternatively, call C&G to discuss options, although it may be a little late as the DD instruction is probably on its way. Don't use Wonga!!!! Your bank may also be able to provide a temporary od....

Call C&G and explain, they might move your payment date for you to a week or so later when you have the money