the time has come :(

[honey5]

to do something about the situation i now find myself in

 

this may end up being a little long winded, i do apologise

 

single mum with 3 children (oops and a dog )

 

mortgage, but found out that OH wasnt paying his half earlier this year:mad:

i have a part time wage which is paid into my natwest account

DLA for my youngest son

CSA

childrens and working tax credits (overpayment over 2 yrs resulted in them takeing £600 per month to reduce the overpayment to 0 with in a year)

child benefit

 

 

I obviously do not want to sell the house as there are only 3 yrs left on the mortgage.

 

outgoings

mortgage

utility bills

natwest loan x 2 (one taken out last year to repay O/D and original loan, and to get myself and the kids back on our feet after him going, only to find out instead of repaying the original loan that they credited that amount back to my account resulting in me now paying 2 loans instead of one

loan 1 £357

loan 2 £154

RBS loan £229

RBS privelige account £154

 

do i open another account and have everything paid into there, offer token payments or what, im pretty fed up and stressed as its leaving not alot in the bank as you can imagine, and with a home to try to hang onto and 3 kids to feed and clothe etc, its becomming increasingly more difficult.

 

I know your wondering why take out the other loan, but i was well and truely stuck after the csa taking two yr to pay anything for the kids, and being left penniless when he left.

 

When the bank rang me they offered the loan, I did explain the circumstances, single parent part time work, 3 kids, dla (which could change at any moment) tax credits (which again could change at any moment and did to the tune of £600 a month), CSA,

but was assured that i would be okay and would manage, i did try to express my concerns!!

 

So here i am finding myself in a very stressful situation

any advice would be appreciated, thankyou in advance

 

honey x

[fuzzybobble]

If I was in your situation, I would see if you can get the £600 tax credit payments lowered. £600 a month for someone in your situation is a huge amount to find.

 

offer token payments on loans and cards. They won't like it though. You could always send CCA requests for the usecured debts you have. See if they have a proper agreement for them. If not, it puts you in a strong situation to either pay what you can afford, or not at all, depending on your moral values.

 

I'd deffo get another bank account. One with no connections to the ones you have loans and cards with. It's not unknown for them to just help themselves if you fall behind with repayments, suddenly making your tricky situation a whole lot worse.

 

Always make sure your mortgage is up to date, and council tax and utility bills are paid. Might be worth shopping around for cheaper deals on gas and electric too.

 

And don't stress. You're in good hands on here. Keep this thread up to date, and everyone will advise you accordingly.

 

Good luck Fuzzybobble

[honey5]

thanks fuzzy xxx

 

all utility bills council tax etc are upto date (thankfully) but in order to pay HIS arrears off the mortgage i cant possibly think of any other way of doing it

No cards as all cca'd and none returned anything

Thing is im going to have to move quick as i'm going to find myself really stuck come next month

Yes i took out these loans and yes im willing to repay them, but just cant manage it right now as circumstances have changed drastically.

thanks for the support xxx

honey x

[fuzzybobble]

I'd still CCA the loans. Puts you in a stronger position on how much you pay them.

Work out an income and expenditure sheet and send it to them offering £1 a month token payments. Explain it's tempory until you can get yourself financially straight again.

 

Deffo go and see if you can get the tax credit thing lowered. As long as the balance is going down, then I'm sure under your present circumstances they would accept that £600 a month is way over the top. Well worth a try anyway.

 

Also see if there's any other benefits you may be entitled to.

[honey5]

sorry shouldve mentioned, i did contacted them and received a letter stating that i was in a position to "loose" £600 per month, which is ridiculous of course, but they wont enter into an negotiations at all and state that the decision is final

 

honey x

[yourbank]

Honey5, quick question, privilege account. Is that a fee paying account, ie monthly fee per month? With NatWest did you/do you still have a fee based account, ie advantage gold?

Will try and go through it all slowly but surely.....

[honey5]

the privilege account is with RBS and is a credit caard account

 

i have an advantage gold account with natwest, everying thing is paid into and out of this account

 

I feel awful having to do this as i have had an account with natwest for 30yrs and they have always been so good to me, but circumstances right now dictate that this is impossible to keep up all of these repayments.

Hopefully it will be short term

 

honey x

[yourbank]

get rid of the advantage gold account for now, convert it back to a current plus. It will save you £12.95 a month. You do not need to keep it for the loan. Did you ask the bank at the time to investigate why they did not close the old loan account?

[honey5]

i also have another account with them, but find that they just take from one to cover the other

i didnt as it was months later that i realised (i know i shouldve checked every statement and didnt)

 

honey x

[yourbank]

Unfortunately, I can imagine what the response would be now. Otherwise I would have gone along that route of account mismanagement. ADGold get rid of asap cos it is not helping you at the moment.

[honey5]

i will do thankyou for the input

honey x

[Fred Bassett]

I feel awful having to do this as i have had an account with NatWest for 30yrs and they have always been so good to me, but circumstances right now dictate that this is impossible to keep up all of these repayments.

 

honey, try not to be too sentimental about things like that. Believe me, the bank will not be so considerate. Do what's best for you and your kids - they are the only people that matter.

 

Regards.

 

Fred

[honey5]

thanks Fred my concerns are naturally what the repercussions of having to do this are, Im hoping its just a short term situation but its certainly an iminent one.

 

honey x

[Fred Bassett]

My pleasure honey and thanks for tipping my scales - it's given me another green blob!

 

Regards.

 

Fred