Can we have a support thread for people who are massively in debt?

[Nerfmother]

Because you can't talk about it in real life? We owe 44k, reduced from 60k in a year. Not including mortgage.
It's so depressing.
Dh is determined to pay it off and so bankruptcy or plans isn't an option. I do think its doable, just hard hard hard.

Thanks pixie and Mum2Fergus. I was thinking it was strange that at one stage I had all these balance transfer offers and now seem to get none. It certainly seems to be true that they tailor them to individuals.

However, because you'd made me think of balance transfers I did look online and unbelievably was able to apply and get approved in about 5 minutes for a new Tesco CC!!! I thought I had cards with everyone and couldn't get any more! Now I know it isn't in the spirit of things to keep transferring balances and I should be paying them off..... And it's horrendous that I'm in so much debt but have been able to get more credit But while I can't pay them off I'd rather pay no interest and just capital.
So, by applying yesterday I have transferred £5,500 and saved myself around £70 a month for 29 months, yippeeeee! I do plan on paying them off before that anyway And actually Talkinpeace, I will choose to pay what I was paying anyway so I can pay off some capital with the saved interest amount!

I was sure I had opted to get all my vouchers at Xmas now I think about it Nerf...will log on and have a look.

Considering I'm on a day off, I've been working hard lol upstairs gutted, 3 loads washing, meal plan done til next Fri and shopping done! Found a few bits n pieces while clearing DS room that I'm going to see if I can sell. Clearing our room tomorrow so may find more...can start listing Sunday night

Filled out the form last night for a factory we all know is hiring and I've ticked days evenings and nights but I secretly hope I get nights because DP works nights and also I'll get more money!

It's paid weekly though and I worked it out to about £225 a week which is a massive improvement on my current job.

With the extra money and being paid weekly I can budget properly and the food shopping can come from my wage and the other bills from DPs wage with a little of mine and there'll be money left over to pay extra on the debts

Great stuff Kitty...fingers n toes crossed for you!

Thanks fergus!

I know working in a factory won't be fun. It'll be tedious and I'll get back ache and everything but I have the same problems where I am now, except I have no money to show for it and the management is less than kind to women and it makes me feel generally ill just being there.

Even if it's only 6/12 months I'll still be better off really.

Omg debt full, that's a massive saving.
I'm just saving my vouchers Fergus, so will swap then all then.
Pixie - was going to say sow thigh and got distracted by dh! Am reading everybody's posts though!

And kitty, good luck with the application.

Hi can I join please?

I've been sticking my head in the sand for years now. My DH leaves everything to me and is even worse than me with money.
Between the two of us we have 3 credit cards and 3 loans, plus a mortgage. And although we both earn decent money we barely have two coins to rub together at the end of the month and not able to save anything for emergencies. I'm horrified and really embarrassed.

And as of next month we'll be down to SMP which has really made me reevaluate where we are and I'm
We've put some money aside to cover the negative in our monthly salaries.

We've done a plan and cut up the cards but I'm so ashamed we've got to this. We're paying the minimum on the cards which means I'll be bloody 60 by the time they get paid off, but at least I can see an end date for the loans.
God what a mess!

Hello blue dog- no need to ask, just start chatting! Will post in the morning as am super tired after long day, glad you found us

Hi BlueDog, welcome...and well done for facing into your financial challenges! We're a friendly bunch so don't be afraid to just lay it all out...we'll never judge, only try to support

Have you worked out a proper budget yet?

Thanks for the welcome, I've done a budget for every penny we have coming in and out. We have just about enough money to survive month to month as long as we don't have any major emergencies.

Whilst on SMP we've saved just enough to get by until we both go back to work.

We did discuss talking to our creditors and working out a plan but it goes against everything I believe in.

Feel like I'm one step forward, 2 steps back at the moment! Letter in from DS school this morn to say no space for him at after school club some days when he starts school in August...one of us may need to reduce our hours, or pay for after school and a minder for the other days. Of course, it's Sat so can't speak to anyone about it til Mon morn...

Still no updated bill from Scottish Power, nearly 4 days now!

Planning NSD today...making doner kebabs from fridge/freezer ingredients, Sun dinner using up freezer ingredients too...

Found out this week that they have now taken our free school meals away from us. I have to weigh up what is cheaper - school dinners (secondary school canteen, so not a set price, can be between £2 and £3 per day, maybe more if dd wants an extra drink, paid into account online in advance and paid by thumbprint) or pack up (dd very picky and tends not to eat much in the way of sandwiches etc). Difficult.

Waiting to hear about council tax support, but suspect that will be taken from us too

On plus side I shopped at Aldi Tuesday for approx £54 and so far everything has been great, meat and veg etc. Going to try and last til Tuesday before shopping again, although did top up shop yesterday for cheese and milk and eggs.

Have your circumstances changed Kazza? That's quite a double whammy...

Well one positive thats staying with me...normally when I've had not so pleasing news, I would shop/spend...but not since joining thread and getting serious about ridding myself of the debt millstones. Busied myself today cleaning and cooking meals to freeze for through the week

The blue dog - one of the pp on the thread has said to fix the minimum payments so they don't hi down and you aren't just paying interest.

Yes, mum, dh has lost his benefits because I increased my hours, although I only earn approx £850 a month. Losing free school meals really hurts

God kazza, that's harsh. So how much did you gain/lose - are you any better off?
I can't wait for FSM in September for one of mine.

Mum, I've really noticed a change in my attitude since this thread. I just don't get any short lived pleasure out of buying stuff.

THebluedog
look up my spreadsheets thread ....
if you freeze the amount you pay on the cards at this months amount, rather than letting them drop the minimum each month, you'll clear the debts in a fraction of the time ...

We are much worse off Lost everything. Difficult times.

kazza if your hours are up, can you get tax credits now, rather than benefits ?

nerfmother that is a really good attitude change - well done.

I wish Talkin, but it seems dh earned too much since April last year We have to wait til April.

TalkinPeace, thanks I will. I presume if I do this it will affect my credit rating?
On a practical note will I have to disclose all my outgoings and incomings so I can agree with them a monthly amount?

After bills, food, fuel etc we have about 250 left for any emergencies, would they look at this and want that extra 250?

The interest is shocking (I'm ashamed to say I've never really taken much notice before) For instance I have 6000 outstanding on a credit card, the min amount I pay each month is 150 (ish), my interest is 137, so in reality I'm only paying 13 pounds a month, which will see me pay approx 30000 pounds to pay off a 6000 debt - ouch...

bluedog
it should affect your rating for the better as from next month you'll be paying more than minimum

who would you be disclosing anything to? .. you just cancel the direct debit and set up a standing order

have a good play with my spreadsheets to clarify your costs

Well, kitchen def needs doing :(
Plumbing buggered. Units rotten. Oven works when it feels like it.
:(