Debt and Overdraft problems. Advice please?

Hi,





I was made reduntant from my job last September. I worked for a large bank and they layed off 80% of the department.





I had only been there 8 months so I was not elible for reduncy payment.





I had no debts and 拢3500 in savings at the time.





Ive been to lots of interviews but just cant seem to get the positions. I have been using my savings to pay bills/rent etc and I have also sold my car for extra money. I now have no savings and I am into my 拢1500 overdraft by 拢1300!





I hated having to go onto jobseekers allowance but I have just applied so will get 拢62 per week.





I've just paid off my last months rent and I am having to move out and back home with the parents. Im 34 so this is the worst thing and I feel so pathetic.





Apart from looking for a job and living with the parents I am very worried about not been able to pay bills etc. I have a mobile phone with 7 months left on the contract plus other direct debits. Add this with the interest payments on the overdraft and I have outgoings of 拢528 per month. Incoming of 拢242 per month.





I dont want to have to go bankrupt or anything like that and I am tryng hard to get a job. Is anyone in the same position or does anyone have any advice on any help available or ideas on how I can sort this out.





Its making me sick with worry and I could really do with some positive ideas.





Im selling on Ebay and I dont go out or buy anything anymore.





Be good to hear from others in this type of situation as I know Im not alone with the state of the country at the minute.





Thanks for reading and I look forward to your responses.Debt and Overdraft problems. Advice please?
i dont really have a great answer but i do know that if your phone contact was for 18months then after 9 you can usually lower the tarrif, it may only be by a fiver but every little helps!


good luckDebt and Overdraft problems. Advice please?
lot of difficult things going with you. Why dont you start internet marketing you can make money but you do have to spend a little bit of money to get started





http://www.whoisshaunsmith.com/





http://andrew-reynolds.com/recession-bus鈥?/a>
The only thing I can suggest is read this from CAB:


http://www.adviceguide.org.uk/index/life鈥?/a>
You can get some good advise on money from Martin Lewis at http://www.moneysavingexpert.com/





Best of luck.
You have my empathy I know how helpless and frustrating your current situation can make you feel. Jobs are harder than ever to get at the moment but in the past I have found Temping is better than not working at all. If you are willing to be flexible and consider applying for anything you increase the chances of getting work. I can only suggest you try to stay positive and keep doing things to help yourself. I really hope your situation improves, and there's no shame in moving back in with your parents temporarily. Most of us are struggling at the moment. :0) Out of interest what county/area do you live in?
Ok there is lots of help available to you. You will be able to claim housing benefit to cover your rent and rates, ring your mobile phone supplier, you'll be very surprised some of the deals they will offer. Go into the bank and talk face to face with them, see what they will do for you. Also ring the national debt help line, it's free and that advice off them they are great, honest. You are lucky, I know your not feeling that at the mo, thankfully you have no major debt's, which means there is no reason for you to go bankrupt.





Please stop feeling pathetic because your not OK! You have not got yourself into this situation and by the sounds of things you've done far more than what most people are prepare to do. Stay positive, keep trying don't give up and you know, that's what good parents are for.





I'm sending you all the luck I can muster up xxxxxxxx
Your overdraft is growing and you are unable to meet the payments.


The first thing you need to do is go see the bank manager about this.


They will understand your situation if you explain the job situation. It is not something uncommon nowadays with so many layoffs.


The important thing is not to just run away and not pay your debts. This will hurt your Credit History and you will have trouble borrowing money , even find a house to rent,etc...





Banks usually will prefer to help you meet your payments. Say you have credit card payments and interest charges are high. The bank can combine all your loans and debt and then help you with a reasonable monthly payment so you can slowly manage to pay off this overdraft.





Don't just let the overdraft grow, as the interest charges are higher than if you went to the bank to ask for a personal loan. As I said, a finance company will always prefer you tell them you're in trouble and will help you. Rather than have to find you to get you to pay up.





Good luck in your job finding. I would say, take anything that comes along. This is not the time to be picking at a job. Any job that pays you a wage is better than no job at all.
contact the bank you have the overdraft with them and explain you are in financial didifficultiesnd they may be able to reduce or freeze the ininterestn your account.


also speak to either the cccs - 0800 138 1111 or your local citizens advice bureau who can be found in your local yellow pages.


if your really under a lot of stress you may want to talk to your doctor about it.


hoe things work out better for you
Soo sorry this happened to you. Sounds like your doing all you can and thank God that you had some place to go. Don't get any loans or credit cards cause we both know you can't pay that back any time soon. Just think positive and do your best to get a job. Live off of the necessities only and try to look at the bright side. A lot of people have no where to go. Just pace yourself and get a job first and then move back up from there, and most of all remember you started from your parents house one time and rose up to where you were and you can do it again. I believe in you.
first of all don't panic call your mobile phone provider and see if you can go onto a lower cheaper tariff explain your situation next your debts go and see the citizens advice bureau and see if they can help at least they may be able to get you lower payments on your debts until you can get a job and back on your feet again
call you banks and credit cards explain your situation to them and ask them to give you a relief till you get a job, also fill an application form for social security and send it to the bank and credit cards to prove your financial situation. If they accept it without charging you interest fair enough if not tell them you have no other choice but to be bankcrupt, they will then consider your situation.
You sound like a lovely person and I am very sorry to hear about your situation. I don't have an answer, sadly but I think you will eventually find work. We are living in terrible times. I have 3 friends, all high flyers, who have lost their jobs. One was a senior IT consultant at Bradford and Bingley Bank and the other 2 were recruitment consultants, in the square mile (London). I don't think anyone is immune. Good luck.