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Debt Number 3 : For those who feel they are drowning and want a way out

999 replies

TalkinPeace · 25/04/2014 21:23

This thread follows on from Nerf's incredibly useful
FIRST www.mumsnet.com/Talk/legal_money_matters/1969188-Can-we-have-a-support-thread-for-people-who-are-massively-in-debt
and then
SECOND
www.mumsnet.com/Talk/legal_money_matters/2011878-Debt-support-thread-2?
threads about realising you are in and supporting each other out of debt.

I am not in debt, any more.
Here is a link to some spreadsheets that might help
www.mumsnet.com/Talk/legal_money_matters/1987219-SPREADSHEETS-for-Debt-Control-Budgeting-Mortgages-etc

and lots of people use this
YouNeedABudget

The important thing to remember is

  • yesterday is as past as the Crimean War
( we will not judge how you got into debt, but we will support you on the way out )
  • this is an anonymous forum
( we will not tell your employer, family or friends of the reality of your numbers )
  • this thread is about supporting people through the huge mindset changes needed to come out of debt
( feel free to offload all of the feelings that drive you to want to spend, that make it hard to save and that generally make life crap at times )

Join in, bare your soul and come out the other end.
Its worth it.
You are worth it.

OP posts:
puffylovett · 12/07/2014 09:13

Kazza, at least you've made a start, that's so positive! So sorry to hear about your dp. Can he get contract / temp work? I presume you tried all that before :((

kazzawazzawoo · 12/07/2014 12:11

Yes, he's being doing contract work for the past 10 years Sad But now there aren't even many contracts at the moment in his field.

Sorry, don't want to go on about it here. He is doing everything he can to find a new job, his work is specialised server support. He applies for lots and lots of jobs, has 20 years experience, but just doesn't get a call back. His CV was looked at last year by someone arranged through the job centre, so it's not that. I even had someone from MN contact me months ago, giving us details of someone to get in touch with, but they never got back to him.

I'm just gutted we can't start paying things off and all the hard work over the last 2 months in nearly paying off the (very expensive) overdraft will now be undone - I don't earn enough to pay the mortgage, only the bills, and I work too many hours for him to get JSA etc in the meantime.

pixiestix · 12/07/2014 19:50

Oh Kazza what rotten luck. I'm so sorry.

kazzawazzawoo · 12/07/2014 19:54

It has advantages, as he'll probably be home with our daughter in the summer hols.

PeoniesforMissAnnersley · 14/07/2014 08:43

kazza so sorry to hear that Brew I hope he can get something else soon.
What about IT teaching in a school? Private schools don't require PGCEs and often employ staff straight out of other careers.

`We have a guy here who worked in the city and just started teaching this past term with no experience or qualifications.

Hope something comes up anyway Thanks

TalkinPeace · 14/07/2014 12:01

Agree about IT teaching or network maintenance in school or college - the pay is not great compared with contracting but the hours are good and its pretty simple intellectually

OP posts:
KinkyDorito · 15/07/2014 16:34

Bumping.

Not much to report here - marking has ended, money is due and will go straight on CC. Job interview for promotion in 2 days although increase in salary not hugely significant. Every little helps - and I will be doing so many hours it will be impossible to ever spend anything Grin.

Onwards, forever onwards...

TalkinPeace · 15/07/2014 17:20

Kinky Yay that the marking is now at the 'wait for cash' stage Wink
And yes, you are heading in the right direction, as are lots of people on this thread. Its really cool.

OP posts:
Nishky · 15/07/2014 17:31

Coming out of lurking. This thread has been such a help although I am at a very early stage -I am now no longer only paying minimum on CC ' s.

Not much progress then but I feel I am facing up to it - am tackling spending bit by bit.

TalkinPeace · 15/07/2014 17:39

Nishky
Welcome aboard. Recognising the problem is the first and most important step.
Tell us a bit about yourself as then those who have similar backgrounds can compare notes Smile

OP posts:
Nishky · 15/07/2014 18:00

I have carried cc debt for most of my adult life -so about 30 years *cringes with embarrassment

I have always worked so have always been able to pay them - have two children so work pt - I continued to spend in cards as if still ft so I now owe over 10k on cards plus 5k on a loan.

Dh and I have always had set finances - one joint account for bills. He is earning well now so pays a lot of stuff so I will hopefully be able to throw money at debts and clear them in 3 years. That is the plan

Nishky · 15/07/2014 18:01

Sorry should read we have separate finances

TalkinPeace · 15/07/2014 18:11

Nishky
But now you know the Standing Order secret to whumping that debt .....

In your case - with decent earnings, if you set the standing order up at 5% of your credit limit then you can merrily spend on the cards but get the balances under control until you reach the happy place of no more interest.

OP posts:
Nishky · 15/07/2014 18:57

Thanks for that - I will do some quick calculations tonight after tea.

Mum4Fergus · 15/07/2014 21:46

Bumping in readiness for pay day on Friday Smile budget and envelopes all on track though have had to take 100 from emergency fund to pay some unexpected business expenses this week but that will be repaid when I get expenses back...

Nursery fee a princely 3pnds this month!! Totally forgot that they deduct deposit from my final month!! Then from August costs drop from 550 to 150 when DS starts school Smile

Mum4Fergus · 15/07/2014 22:03

Oh, and I know it's a bit off subject but does anyone have any advice/thoughts on the things I should include on a 'family arrangement' document to outline what financial support I should be seeking from x?

TalkinPeace · 15/07/2014 22:41

no idea sadly / luckily : your best bet is probably the Legal board
or check the questionnaire from the mediators

OP posts:
KinkyDorito · 17/07/2014 16:28

Got my job. Little extra money each month, many, many extra hours! Grin All part of my bid to climb that ladder.

Mum4Fergus · 17/07/2014 16:51

Fab news Kinky...well done you Grin

KinkyDorito · 17/07/2014 18:53
Thanks
nickelbabe · 17/07/2014 19:39

sorry I haven't been here for a while.
I'll update then catch up with everyone else.

I finallyy got round tocancelling my good food subscription. they triedto fob me off with cancel on expiry, but they're sending me a cheque for £11.
I looked at cancelling my endowmment, but i'd lose a shedload on it, so keeping it.
I've had massive problems with my card machine (kept it on because cancelling cost me the same as keeping it on and at least I get something out of it). first, they froze it because I hadn't been using it! tjen they've nailed me for pci compliance, non-compliance fee. but I am compliant. this minion in the call centre kept trying to fob me off saying it was because I was compliant for only part of the month, when I was told it's for the following month they check. funny j got an email from them this morning saying that their system mafe a mistake and they're refunding the charge. thank fuck.

it was independent booksellers week last week, and I did 3 events, selling a total of about £250, all already paid for and 10% commission.
the money went on postage and some new pyjamas for dd (they'd be cheaper if they didn't grow)
dh is supposed to be paying for everything out of his account, which means I can't spend any money except for postage and invoices. feels bad because I should ask him for "housekeeping" but it feels rotten.
managed to get £1000 from my isa, but no idea how much is left now. only got £160 of that left after the last couple of loan payments.
there's enough in the joint account from tax credits/child benefit to pay the £200 on the credit card (minimum payment is now £170ish)
and dh won £100 on the sweepstake for the world cup at work which he gave to me. Grin

and I've been listing stuff online like a maniac - quite a few sales that way, but still only about £60 a fortnight. but it takes time to list it all.

Mammysin · 17/07/2014 22:54

Popping into say hi ladies. Am struggling here in recession hit Ireland to keep afloat but I recognise Dh and I are lucky to have full time work even if after tax and post qualification we are on less money than six years ago. We have mortgage of €1240 Per month and child care €140 per week , having three dcs the youngest just going into school
We are struggling . Thank you so much for your online support unknowingly given , I identify with you ( from afar)

WinterLover · 18/07/2014 12:44

no no no no! Angry DP got pulled to one side at work. hes lost his job effective today Sad really don't need this now. my allowance won't kick in for another 6 weeks at the earliest. trying not to stress but I want to scream

Imliketotallyummm · 18/07/2014 12:54

Oh no WinterLover, sorry to hear that Sad This happened to dh a week ago too Sad

TalkinPeace · 18/07/2014 13:24

Oh Winter how awful.
Right, how long pay in lieu do they have to give him?
How quickly can you get benefits sorted out - as this is what they are FOR
then get him to sit down this evening and get his CV up to date with as much lateral thinking as possible.
Oh and have a bottle of cheap cava because it dulls the pain.

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