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  1. #11
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    SpecialPatrolGroup is offline T-rex is cranky until she gets her coffee.
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    Make an appointment to see an financial counsellor ASAP. They can help you set a budget, negotiate with your creditors to set out a payment payment plan that is within your means, whatever they are at them time. http://www.financialcounsellingaustralia.org.au/ Mods, Sorry if I'm not meant to post a web addy.

    I am so sorry that you are having such a stressful time , especially at christmas. Please don't feel embarrassed, many of us are a pay day away from being in dire straits.

  2. #12
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    Quote Originally Posted by SpecialPatrolGroup View Post
    Make an appointment to see an financial counsellor ASAP. They can help you set a budget, negotiate with your creditors to set out a payment payment plan that is within your means, whatever they are at them time. http://www.financialcounsellingaustralia.org.au/ Mods, Sorry if I'm not meant to post a web addy.

    I am so sorry that you are having such a stressful time , especially at christmas. Please don't feel embarrassed, many of us are a pay day away from being in dire straits.
    I second this, these people are AMAZING!

  3. #13
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    SpecialPatrolGroup is offline T-rex is cranky until she gets her coffee.
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    How are you going with all of this Miss Money Penny?

  4. #14
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    TeamAwesome is offline No one's perfect, but everyone can be awesome.
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    My dh does FIFO work but was off from May to Oct and was made redundant earlier in the year as well just did a few different jobs. So we got really, really broke especially when our car died.

    Anyhow is he a member of ACIRT? They are kind of like a redundancy insurance company that the mining etc companies put money into, if he is he'll get a payout from them he can ring up and they'll give him an estimate but be warned is gets taxed heavily, takes a bit to get going as it comes down to paper work, we were lucky we have a malfunction so we could scan in dh letter of redundancy and send it in as the company dragged their feet and also remember to keep all paperwork related as it is counted as part of you tax income. Centrelink will also include this before they'll give additional money which I know seems unfair but they work it out at what he'd been earning roughly a week and break it down that way (we had to wait until July to ensure enough time had passed) seeing as he's being made redundant and you need the money I'd honestly just keep him working until that date so he can earn all the extra, which I know is hard but extra will be worth it.

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    This is not meant to sound rude (but it might because I'm online and can't say it with the right feeling). You seem to be too focused on the idea of your own home. Of course that would be nice, but there is waaaay too much obsession with this here. We are in an OK position financially but don't own a home yet. It is an ideal in our future, but we are taking small steps and focusing on achievable goals first. Maybe the idea of owning your home is putting too much pressure on you as it seems so unattainable for now? I do wish you luck and second the advice to see a financial planner, but i know how hard it can be with an unstable income

  6. #16
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    I'm going to be brutally honest here. Forget owning your own home for the next 7yrs. If you are in any defult on credit rating no one will touch you untill you have a clean credit rating for 12mths after they are wiped off. Can I ask what hubby does?? If hes exp in mine you should be heading to NT or WA or NTH QLD. Do you live to a set budget?? Another really good option is contact My Budget and speak to them. Good luck!

  7. #17
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    I disagree with PP who says you CAN'T get a home loan with defaults, my Mum had 2 small telco defaults & was easily able to obtain a mortgage - however these were for a few hundred dollars & were paid almost immediately; it sounds slightly different from your situation. It sounds like they have listed a 'Serious Credit Infringement' which will stay on there for 7 years, even if/when it's paid & it is more serious than a standard payment default, it probably also lists that the vehicle was repossessed.

    I also disagree with using MyBudget, I recently went on maternity leave from my job in a debt collection agency and we saw a lot people attempt to use MyBudget, they take a good few hundred in fees before paying out your creditors. Also, you've managed to get yourselves out of a lot of your debt so you don't really need them IMHO. Find a financial counsellor who can give you FREE advice about how to get back on your feet.

    First thing I'd be doing is contacting Centrelink to find out what payments you'll be eligible for - even if it's small it's something. Second thing would be contacting your creditor/s & letting them know you need to hold or reduce payments for a small time due to financial hardship. Lastly, try to save whatever you can from DH's remaining pay cheques & live as frugally as possible so you are able to move somewhere with better employment opportunities. Could DH possibly apply for work outside of where you live & travel to the interviews? That way you don't have to spend money moving without a secure job opportunity.

    You sound like you've done really well getting rid of your debt & that buying a house is really important to you, but as a PP said I'd probably just put that dream on the backburner for now and concentrate on small steps to get yourselves into a better financial position rather than the far away future.. Good luck xo

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    Oh OP, dont be so hard on yourself. There has been some wonderful advice in this thread. E.g. visiting Centrelink, calling your finance company, budgeting. In the immediate future, I would contact charities to help with Christmas.

    I think a lot of people, when they have children, have some sort of financial struggle. In your situation, you have not had a lot of years of working (if any?) to give you the head start so do try to remember that.

    Owning a house is a wonderful aspiration - but it does need to be planned for. Maybe take the 7 years that it takes to clear both of your credit ratings, to make a move to a town with lots of employment opportunities, pay off your debt, start saving slowly to have a reasonable deposit when you do eventually buy your house. Perhaps by then, the kids would be at school and you can think of getting some part-time work too? There are some great books by an author called 'Anita Bell' about saving and paying down your mortgage (when you get it eventually) on a tight budget.

    Getting married and having kids early is nothing to sneeze at either - some people take ages for this to happen and would give anything to have it happen earlier.

    Good luck!


 

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