Money worries

[Girl18]

Hi all I am currently 24+5 and in the middle of sorting out some credit card debt that I've had for a while before baby arrives in 3 months. This was worrying me as I know i have a fair amount to pay back but also a fair bit to shell out on. I've been quite good at accepting second hand items but none the less still have a lot more to buy. Coupled with the fact I will be on smp for 9 months money was starting to make me worry and panic. Luckily OH has a bit of savings that he was going to give to me to sort some of my debt out to leave us in a better place for when baby is born.
However, my OH has lost his job today which was totally out of the blue. And now I'm starting to panic even more. He feels like he's let us down and I'm trying to be really supportive without letting him see how scared I am.
Not really sure what I'm looking for on here just maybe a bit of support.

Didn't want to read and run - firstly, don't panic. Go to your citizens advice bureau and get advice on sorting out your debt - you may be able to move it onto an interest free credit card that would last the length of your maternity and then you can just pay it off when you're working again.
Second, it's the two of you against the world - so band together, help OH update his CV and set your minds to finding him another job. Also, most baby stuff can be got very cheaply secondhand on ebay, at boot sales (there are some that go on over winter) and even in charity shops - I saw a great condition baby bath outside the charity shop in our village today for a £1!
Also, I think if your earnings are below a certain level you may be eligible for a government grant when your baby arrives.
It will be ok. Breathe, plan, then act.

Babies are cheap, and hopefully you guys will be on your feet financially again by the time you need to start paying for childcare or other bid expenses. Ebay and NCT neay new sales are your friend- especially for newborns as clothes etc are hardly used. Also if your DP signs on check whether you will be eligible for a sure start maternity grant- I'm not sure of the criteria but if he and is on JSA and neither of you have any other children you may be eligible. Its basically a one off £500 grant.

How much debt do you have? Is it at a level that it could be shifted to an interest free card, or is it more than that?

If it's more, I'd suggest getting some advice on dealing with it.

If you can use OH's savings to supplement your living costs until he's back in work, I'd definitely prioritise that over your debt. Unsecured creditors, if it really comes to it, are only entitled to what you can afford.

Thanks all think we were both in shock yesterday as didn't see it coming. Unfortunately this was the second time this has happened this year and so he is like a broken man. He's so hardworking and reliable I know he will find something else. It's obviously just the added pressure on him with baby coming soon. I have said I'll help him look and if the worst happens I will go back to work sooner than planned.
I have 3 credit cards each with just over £1k on plus quite a bad overdraft. And with only getting smp I won't be able to afford the monthly repayments. I should speak to the bank really just a bit embarrassed I guess. I will into interest free as not sure how they work

Ok, if you can't afford the monthly repayments then I really would suggest getting some advice.

I might be preaching to the converted here but have you put a budget together as yet? That's a good place to start. MoneySavingExpert has a really good template to use.

Beyond that, if you can't afford the payments, get in touch with an independent organisation for free advice. Depending how good your local CAB is you could go there, or have a look at StepChange Debt Charity or the Money Advice Service.

Your credit file will take a hit of you miss/make reduced payments, but your living costs have to come first as a priority.

The difficult thing as well is that a lot of creditors won't help you unless you fall into arrears. It's a shit system. But like I say I'd definitely look at getting some help