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  • FIRST POST
    artnoble
    End of the road
    • #1
    • 21st Nov 12, 8:10 PM
    End of the road 21st Nov 12 at 8:10 PM
    Really don't know where to go with this.

    Basically as it stands I think I have about 12k worth of debts. Probably about 8 creditors. I got made redundant about 3 years ago and was making token payments which stopped.

    Now as its stands I don't know who I owe money to. I get letters upon letters from debt collectors asking for money for amounts I can't remember from accounts I've forgotten about.

    I'm back earning a wage, and spending is out of control. I pick up abut 1200 a month. Live at home paying 100 board. Car costs less than 100 a month. Don't really have allot of other out goings but have no discipline over spending.

    I'm a driver and when I'm at work I eat junk for breakfast and dinner weekend goes on beer and takeaways.

    I'm 30 next year and have this mounting of debt and nobody will touch me. Can't even get a phone contract.

    I really need to learn to budget, make meals for work and not spend a 10er every day in Tesco.

    The only bank account I can get is a Lloyd tsb basic account which I can only use their own cash machines.

    It's really getting me down. I've visited the doctors and they put me on anti depressants. I'm really at rock bottom.

    I don't know how to get out this mess, or if I have the energy
    Watch this space.... Will update soon!
Page 3
  • YORKSHIRELASS
    Hi

    Lots of good advice already so I wont repeat what others have said. The thing is you are going to have to make some pretty big lifestyle changes which (a) wont be easy and (b) will take some time to adjust to. The good news is that you can do it. I know you can because I was in a total mess and managed to change my ways, and although I fell off the wagon a couple of times I am still here plugging away at the debts.

    Simple fact is you need to take control of your money then you will feel loads better about it.

    My best tip? Start writing down how much you spend in cash and start properly recording your income and outgoings. Seeing it in black and white makes it real. Get a little notebook to keep in that van for when you are parked up somewhere and have five minutes then write down everything you have spent that day.

    Good luck.
  • artnoble
    Hi

    Lots of good advice already so I wont repeat what others have said. The thing is you are going to have to make some pretty big lifestyle changes which (a) wont be easy and (b) will take some time to adjust to. The good news is that you can do it. I know you can because I was in a total mess and managed to change my ways, and although I fell off the wagon a couple of times I am still here plugging away at the debts.

    Simple fact is you need to take control of your money then you will feel loads better about it.

    My best tip? Start writing down how much you spend in cash and start properly recording your income and outgoings. Seeing it in black and white makes it real. Get a little notebook to keep in that van for when you are parked up somewhere and have five minutes then write down everything you have spent that day.

    Good luck.
    Originally posted by YORKSHIRELASS
    That does sound simple and effective. There are so many times in the month whee I don't actually know how much money I have. How mental is that!!
    Watch this space.... Will update soon!
    • sistafromanothermista
    • By sistafromanothermista 27th Nov 12, 7:34 PM
    • 2,155 Posts
    • 2,599 Thanks
    sistafromanothermista
    Sign up to internet banking that way you can check your balance all the time
    You can also set up little savings 'pots' online too so you can budget better.
    DEBT FREE AND PROUD

    'Better to remain silent and be thought a fool than to speak out and remove all doubt'
  • artnoble
    Sign up to internet banking that way you can check your balance all the time
    You can also set up little savings 'pots' online too so you can budget better.
    Originally posted by sistafromanothermista
    How do I do the second part?
    Watch this space.... Will update soon!
  • artnoble
    Well it's Wednesday after work and I've spent 0.39 this week. Test will be next week as I get paid on Friday. Hope I can have the discipline it takes
    Watch this space.... Will update soon!
    • eyeopener2
    • By eyeopener2 28th Nov 12, 5:20 PM
    • 2,207 Posts
    • 3,325 Thanks
    eyeopener2
    Little suggestion from me......

    When you have discovered the details of all the individual debts, pay the smallest one off. Its gone and you will feel better and feel like you making progress.

    I know you dont know who has what or at what stage they are but if one is a big loan, where the balance is frozen, I would seriously consider leaving that till last ans get the others done first. They have waited this long, they can wait a bit longer!

    Something to consider anyway.

    E2
    I'm Debt Free 2/09/2013
    Debt at LBM 30/04/2010 24,109.38,
  • artnoble
    Little suggestion from me......

    When you have discovered the details of all the individual debts, pay the smallest one off. Its gone and you will feel better and feel like you making progress.

    I know you dont know who has what or at what stage they are but if one is a big loan, where the balance is frozen, I would seriously consider leaving that till last ans get the others done first. They have waited this long, they can wait a bit longer!

    Something to consider anyway.

    E2
    Originally posted by eyeopener2

    Yeah I have thought about that. According to my balances on noodle. There are about 4/5 creditors and all the balances have added up to less than 500. I'm going to try and clear all this in January.
    Watch this space.... Will update soon!
  • eco farmer
    have signed up to this thread Art. i'm normally a lurker but thought i'd come on and say how well i think you are doing and how positive you are being keep it up and keep posting i'm convinced you are well on the way to being a DFW.
  • artnoble
    have signed up to this thread Art. i'm normally a lurker but thought i'd come on and say how well i think you are doing and how positive you are being keep it up and keep posting i'm convinced you are well on the way to being a DFW.
    Originally posted by eco farmer

    Oh wow that really means allot. I hope this can be a success story one and for all.

    I've noticed I signed up to this site in 2007 in trouble and I'm no better off now. I would have been safe and sound now if I had stuck to that LBM.
    Watch this space.... Will update soon!
    • vasseur
    • By vasseur 28th Nov 12, 10:23 PM
    • 3,059 Posts
    • 9,841 Thanks
    vasseur

    I've noticed I signed up to this site in 2007 in trouble and I'm no better off now. I would have been safe and sound now if I had stuck to that LBM.
    Originally posted by artnoble
    Hindsight is a wonderful thing...however you are here again now - just imagine how much extra you would have spent in the last couple of weeks if you hadn't had your second LBM and popped back on? Onwards and upwards....

    I keep a cash notebook with me at all times and on payday I write down what I've been paid and list all my outgoings (even those DDs that come out halfway through the month), every debit card purchase, cheque and cash withdrawal as I make them. I keep a running total of what's left and I tick each item off when i see it come out of my account when i log onto my online banking which I check every day. The running total is the important bit because that's what I know I have left - often the bank balance is a few hundred adrift because of things that haven't come out yet. This is what works for me - others have spread sheets, spending diaries etc - play around and see what helps you most.

    Good luck....I'll be subscribing too
    It's not how far you fall - it's how high you bounce back....
    Happiness is not a destination - it's a journey
  • greenanne
    hi art,

    i just thought i'd pop back and see how your getting on.

    firstly,as with everything you could possible need,there are great threads here for loosing weight.although now that you are making your own packed lunches i bet you are loosing weight already.
    also agree that you must set up internet banking.you must then look at what goes in and what comes out and when.
    i know that when i started my journey i never looked at my bank balance.now i look at it every day.believe me it gives you a feeling of being in control that is a real boost.
    mean while back to your soa.have you looked at it yet.there are lots of things that you can already fill in.don't wait till the new year to do this.you've already been doing so well.
    keep up the good work.
    there is no wealth but life
    sealed pot challenge#240
    df by dec 2014#150

    Barclaycard[ 1641]512. loan[4100]2673. nationwide[1898]1548.natwest 2980.total [8584]7713.
  • Ellieseleven
    Just wanted to say Well done Artnoble for facing up to your debts.
    Lightbulb Moment 16/07/2010
    DFD - Nov 2021 Apr 2020 Mar2017 Feb2017- 43/136 130101 61
    45,972 12,028 73.84% paid off @Aug 2015 18 months left
    DMP mutual support thread member:385
    Saving for Xmas 2015 #8 516 / 730
    Clothes challenge 2015 162/200
  • shellyruby
    i was in the same position.i had more or less the same amount of debt as you.i went with payplan on a dmp.they were brilliant.
    i finished paying of mine last year,i was only working part time..i did a expenses and expenditure with them and was paying 72 a month to payplan for 8 creditors..they took care of everything and they were on my side,they werent judgemental and it was free..best thing i ever did..felt i could breathe again..so many of us in the same boat.
    youve taken the first step and thats the hardest part..i was shocked when i added up all debt..
    you can do it..good luck.
  • chevalier
    Would it be possible to give your parents say 300 of your wages, to keep. That way you will have that money to pay off a debt at the end of a month?

    Also how long have you been paying 100 a month keep? Might be worth keeping them onside and upping that....

    Good luck with your journey. I am sure you will get there this time.
    chev
    I want a job that is Mon to Friday from 10am til 2pmare you listening universe?
    Keep Calm and Carry On!

  • artnoble
    Well it's Wednesday after work and I've spent 0.39 this week. Test will be next week as I get paid on Friday. Hope I can have the discipline it takes
    Originally posted by artnoble
    Well you didn't did you Ben.

    Although I did get paid before Xmas it's two weeks before Pay day and I'm skint! I have enough food but no debts have been paid.

    I did plan to do a self made dmp but I can't trust myself to do this.

    On sat I'm going to get my big box of letters and go through them all, see what I owe and to who and then phone up a charity and see if we can work through it all.

    Do you have to give all details to them on the phone in terms of who you owe money to or do you just send them your letters and for them to work through them all?

    You can all shout at me if you want for being a lazy fool
    Watch this space.... Will update soon!
    • addyboy1982
    • By addyboy1982 17th Jan 13, 9:14 PM
    • 133 Posts
    • 136 Thanks
    addyboy1982
    With your income/expenditure you don't have to do a DMP or anything like that. Give National Debtline a call and just say you want some advice - they will be more than happy to help!

    I had my LBM when I was 25, was going to do my damndest to be debt free at 30 and only missed the target by 3 months. I also bought a house in that time using savings as a deposit.

    It can be done, you just need support and guidance and we're all happy to help on here
    EX-DFW, NOW AN MFW!! O/S Mortgage = 71004 on 12/01/13 Overpaid 2013 = 1000
    Balance now = 69155 MFD at start = 30/11/2033 now 31/03/2033

    DEBT-FREE ROLL OF HONOUR MEMBER #734 "PROUD TO HAVE DEALT WITH MY DEBTS"
  • artnoble
    thanks for the support.
    Last edited by artnoble; 24-02-2013 at 4:14 PM.
    Watch this space.... Will update soon!
  • chevalier
    How about getting another bank account with no overdraft and now card attached. Each pay day you sweep 300 pounds into the account. Then you can't get to it and it will build up. Then once you get to an amount to pay a debt off, just do it via internet banking.

    Or as I suggested originally give the same amount of money to your parents at the beginning of the month. And they aren't to give it you back except for a genuine emergency like the car going bang?
    good luck
    chev
    I want a job that is Mon to Friday from 10am til 2pmare you listening universe?
    Keep Calm and Carry On!

  • LannieDuck
    Hi Art,

    Haven't seen your thread before. How are you doing - are you managing to just break even each month, or are you managing to pay off a bit of the debt each month?

    If you're just breaking even, can I suggest seeing if you have anything to carboot/ebay? Any money you make could go straight on the debts.
    Mortgage when started: 330,995
    Paid (including interest): 1422.53
    Current mortgage: 330,238.41
    Mortgage free day: ? 24 years away
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