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Can't get out of debt !

Hi ,

I'm looking for a bit of advice really, I'm in so much debt and can't get myself out of it, I just about manage to make the payments each month, but there's more money going out than I've got coming in, so I can't get myself straight. Every year or so I have to get another loan to pay off my credit cards and overdraft, so all the money I've paid back on the loans has been for nothing, because the total amount of debt remains the same. I've got 3 kids under 6 so I can't work full time because I'd have to pay a nursery more than I can earn. I used to work before the kids came along but my jobs were shop work and the money isn't great and nurseries around my area charge 6.00 p/h for each child, so that would be £12 an hour for two of my kids then after school fees (£10 per day) for my daughter who's in yr 1 at school. My wages would only be about £6.50 - £7.00 per hour. My husband has a good job and pays for the mortgage and bills and because he can afford those we aren't entitled to anything. I checked the tax credit website. But we only have about £100 a month left over to live on after the bills, debt, mortgage and food. 

Any advice would be really helpful right now. : ( Thanks

So how can I get myself straight?


daughter husband food school nursery money work debt

Sorry to hear you're struggling like this, if it makes you feel any better their are people in the same situation all over the country. I can see why it's hard to get yourself in a stable position though. Have you got any family nearby who can help look after the children so you can get a part time job to help pay for some of your outgoings?
Perhaps you could contact the companies you owe money to and ask them if you can increase the term and lower the monthly payment whilst you're not able to work. At least it would show them you aren't avoiding paying your debts, it's merely a short term situation you're in with your children being so young. It could work.
Have you thought about childminding? This is how I got into it, I was in the same position as you. I had four children to look after and found it impossible to get a job. So I became a childminder, it fitted in perfectly with my life and I was able to earn enough to pay for the little luxuries in life. If you're interested, speak to your local council. 
Hi Annabelle, we haven't got close family around us, no-one who would babysit for free anyway. I haven't ever considered child-minding before, but that could be a good idea! Thanks Sunflowerchildcare I might look into that. it could be a way out for me.

I will write to the companies and explain the situation. They can only say no, can't they Hounslowmum?

Thanks for your help.

  • Mansview
  • @2014-02-12 10:35:18
  • United States
  • Age: 35
Have a look at this website http://www.adviceguide.org.uk/england/debt_e.htm if you want debt advice. 
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