we need help on our credit cards that is spiralling out of control :-(

[biglips]

my dp became self employed with his business partner 2 years ago and weve been living on credit cards as payments arent always on time and plus he lost a few and gained a few so its the same line but not gone upwards!

Last year we just spent £50 each on 2 kids but nothing for me or Dp (or anyone else) as couldnt afford it and even now we are still in the same boat but worser

im feeling abit as we literally cant afford anything.

i never took out payment protection on all cards as i was working at the time.

We need something to pay off the credit cards so thinking of the credit union to see if they can help.

Also we are paying off £100 per month for our overdraft too

life is crap atm and im even struggling to buy milk sometimes too

What is his business?

Does he take drawings out of the business each month or is it a case of being paid when there is work?

Do you work?

It sounds like a shitty situation TBH if you are literally living off credit cards and an overdraft.

Is there any way you can cut back on your outgoings?

Can you speak to the bank about extending your overdraft and maybe look to transferring the balance on your credit cards to a 0% card?

I wouldn't be arsed about getting prezzies for your dh and other people and maybe get the dc's something from the charity shop. If you are struggling to buy milk then your main priority is to find a way out of this cycle of debt.

I don't mean to sound harsh but you need to sit down with your dh and focus on what is priority.

he goes thru phases when they can able to take drawings out of the business or sometimes he takes out what he can able to do.

Hes a window pole cleaner/window cleaner.

The reason why used the cc cos needs money to pay the bills and the mortgage...same as to his business partner. i cant rememeber the last time we actually went shopping for ourselves as it just bills bills bills.

we checked everything that needed to cut back, but its people who dont pay on time and we cant afford to lose them either. I do have a car BUT it needs fixing up as 2 doors are broke, window wiper movement bolt is knackered, heaters broke etc, so it wouldnt be worth selling it atm and weve got no driveway to put it on. i do on average 8,000 miles a year so dont really use it alot.

no i dont work as it worked out with my welfare benefit officer that i was better off not working.

Our bank is having a review next month to see if they can stop it where its up to now or we lose it all...unsure whats gonna happen.

ive tried to transfer the cards over to a 0% balance cards but couldnt cos im not working.

and yes about charity shops as i was looking yesterday so prob best to go there! (im glad that my dd1 who is 5 is not a fussy type as she loves anything).

im gonna go down to the credit union and see if they can help me

all the cc is under my name.

Try the debt free wannabe boards on moneysavingexpert.com - they are great at helping people in situations like yours.

There are plenty of cards where you can get 0% for 15 months or something
At least that would mean that interest wasn't accruing even if you don't manage to pay much off

Agree with Axis. Try MSE for recomendations for debt counselors or even the money expert at the CAB. Someone at CAB or a debt advisory firm shoud be able to agree interest freezes with your creditors and manageable payments. I would advise against talking to your bank until you have investigated other options (debt counsellors/cab etc) unless all of your debt is with the same bank. Your bank has a vested interest in getting you to pay of their debt and pay off their debt first which could anger any other creditors if they feel they have been disadvantaged and make them less willing to enter into payment agreements.

Do you have a parachute account to prevent your bank from exercising set off rights (if it comes to that)?

I feel for you I really do.

I have been in a situation where I have had no money and its soul destroying.

Do you need your car to be fixed urgently or can you get by without it for now?

If it's on the road and it's untaxed though rememebr to fill out a SORN statement for the dvla. The last thing you want is a fine dropping through your letterbox.

I would go to see the credit union and I would also try to make an appointment with the CAB. I see that you are in Liverpool and I know that there is deffo one in town.

With regards to christmas toys, I would keep popping in cos you never know what you might find. My mum has bought the dd's loads of lovely stuff from different charity shops. Have a look in the pound shops too as they often have colouring sets and other girly bits that your dd's will like.

Have you checked with tax credits that you are getting your full entitlement?

If you cant transfer to a 0% card would it be worth writing to the cc companies to let them know your situation and ask them to freeze the interest for a time?

just gotta nip out as bbl

Can he get a second job that could be done in the evenings? Shelf stacking, delivering pizza, etc. ?

Not a nice prospect, I know, but it might only need to be for a few months to help your family finances move out of such a precarious place.

well im back and feel im getting somewhere a little bit

we have already checked thru everything of what we can do without and theres nothing more we can get rid of.

my car is on the road as im using it atm. The engine on it is spot on but electrically its falling apart!

I went to the bank to ask for holiday payments as got 3 left (hate using them but we are desperate and we used them last year - dec - feb hoping we have some money to pay off credit cards but we never saw a penny for 3 months cos business people dont want to pay out over xmas period but its not fair on us!). Ive taken 2 payment holidays and i told him that we are struggling big time. He was so ever helpful and said that everyone is in the same boat cos of the recession etc..he given me an last alternative to have the mortgage as interest only for 2 years only which is a massive relief and im praying that our business will take off...please please please!!!

Dp decided to go worming on the beach and sell them so his mate got the equipment to do it so will be starting next week. On Mondays and Fridays he works from 8am - 8pm (collecting and cleaning a butcher's shop in between) so its a long day for him and works most saturdays and sometimes on Sundays. Most of the time hes out at 6.15am to clean the butchers for half an hour and then back home and then hes out at 8am or sometimes he leave it till 5.30pm.

ive collected a app form to join the credit union, will take that back tmrw and go and see CAB tmrw (They arent open today).

Just hope we can get help...even if its just a little help but better than no help.

And i do hope we can get this massive stress off us too. As ive got purple rings under my eyes since my baby was born 14 months ago, she slept thru from birth but i feel like ive been getting up 5 times a night..so i must not be sleeping properly so thinking of trying nytol to get my sleeping pattern back to norm as im constantly waking up worrying.

im gonna ask the CAB if weve got everything that we are entitled to as im sure we are.

Holiday payments are there for when you need them - which is now so don't feel bad.

It sounds like you are doing what you can to sort it and I hope your dp's business picks up in the new year.

BTW doesnt he have payment terms on his invoices? Maybe think about reducing the payment time.

Can you have a little snooze in the day with your dd to catch up on your sleep?

yes we have 30 days..and then chase up again. JUst one property management is a pain in the ass and we do put a late payment fee but somehow a few days later we get the payments!! grrrrr

im feeling abit better now and got a busy day tmrw

(even the mortgage advisor went thru our outgoings and he said that theres nothing we can delete)

many thanks to everyone