End of the road

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!
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Comments

  • :wave: artnoble.


    Firstly stop wallowing in self pity.

    You and only You can get yourself out of this hole. So where to start? i guess by posting up your SOA.
    Until you have your true LBM though no matter how much advice you're given YOU must decide to take it.


    Harsh i'm afraid but true...
    DEBT FREE AND PROUD:D
    'Better to remain silent and be thought a fool than to speak out and remove all doubt'
  • artnoble
    artnoble Posts: 879
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    I know. I seem to have several LBM. But then get the next day nothing changes. I really don't know how to change. I really want to but can't.

    As for a soa. I don't know where to start with it. I don't know how much I owe or who to.

    I'm rock bottom :(
    Watch this space.... Will update soon!
  • meer53
    meer53 Posts: 10,217
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    Anti depressants can sometimes take a few weeks to start to work, the good thing now, although you won't be able to see it yet, is that you've had your "lightbulb moment" This is the start of your new journey. :) Sometimes, anti depressants can make you feel lethargic too though, if you think this is whats happening, go back to your GP, there are others you can try. Don't assume they won't work, i've taken them before and they helped me a lot.

    Have a go at posting a statement of affairs, you'll get lots of advice about where you go from here. The SOA will show you how much you have left so that you can set yourself a budget to follow. If you don't have anything left, then there are people who can help you get out of this situation. You could contact StepChange for their help, it's free.

    There is no financial situation that can't be sorted out, you just need a little help, which you'll get on here if you ask. Spend this weekend making notes of all your debts, sort out all the letters you have received, it might take you 2 days to do it, but my word it will feel good when you have !

    Good luck, let us know how you go :)
  • Hi artnoble,

    I think there may be two things at play here.

    Firstly you will need to get copies of your credit report to find out exactly who you owe money to and how much (a more knowledgeable person than me will hopefully come along and give you some more details)

    Secondly, looking at your post, it suggests to me that you aren't actively looking after yourself. If you doctor has diagnosed you with depression, this could explain why. However, until you can look after yourself, you will not be able to look after your money.

    You say that you spend a tenner on junk food in Tesco every day and that you buy beer and takeaways at the weekends. Also that you have no discipline over spending.

    Ask yourself WHY you do this.

    If you aren't much of a morning person - prepare your lunch the night before. Or buy in food that you can quickly grab in the morning. Even if you buy junk, it's probably cheaper buying it ahead and in bulk!

    Are the takeaways for a reason or just a lack of interest/inclination/ability to cook for yourself?

    Don't let laziness or inability ruin your health and bank balance! If you live at home I'm sure your mum or dad would be happy to help you learn to cook (or kick your a$$ into the kitchen ;))

    I'm also 30 next year, but as you can see from my signature, I'm well on the way to paying off my debts so I promise you it can be done but no one can make the decision to take this step apart from you.
    LBM 11/06/2010: DFD 30/04/2013
    Total repaid: £10,490.31
    Student loan repaid: 01/07/2019
    SAVINGS: £20,000
    Car final lump sum: £6113/£6113
  • Taking the first step is always the hardest - i remember how completely overwhelmed i felt when i began dealing with my debts a few years ago.

    The advice i would give you is to do one thing at a time. Try and get the paperwork you have together and begin sorting through it. Make lists of the people you have to call and set aside a few hours to do so.

    There are many organisations that offer free debt advice (much of the information can be found on the forums here). Give them a call or pop down to citizens advice - there are many wonderful and knowledgeable people out there who will help you!

    In terms of the anti-depressants - i suffered with depression a few years ago and i remember how crippling it was. But after going to counselling (referred by my doctor) and making some lifestyle changes such as eating better and getting more exercise etc i began to feel better.

    Getting your debts in order will aid your recovery - it will take time but i promise you the more positive steps you take the better you will begin to feel. Just small things as you said such as making your own food at home and taking it to work will make a big difference.

    Dont give up!
  • Artnoble....

    I was in much, much, much bigger sh*t soup than you and I'm a home owner. You are very fortunate, self control dude! £1200 a month, car and keep £200, £1K left over, £500 in your pocket, £500 to your creditors over 2 years, it be paid off! I would take your situation any day!
  • artnoble wrote: »
    I know. I seem to have several LBM. But then get the next day nothing changes. I really don't know how to change. I really want to but can't.

    As for a soa. I don't know where to start with it. I don't know how much I owe or who to.

    I'm rock bottom :(

    I know you do. I remember you from when i first started on here. You need to get your life in order NOW. Only you can change your situation mate and you know that.
    Maybe once the anti depressants start working you will see things clearer and put a plan together....
    DEBT FREE AND PROUD:D
    'Better to remain silent and be thought a fool than to speak out and remove all doubt'
  • artnoble
    artnoble Posts: 879
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    Leepodstar wrote: »
    Artnoble....

    I was in much, much, much bigger sh*t soup than you and I'm a home owner. You are very fortunate, self control dude! £1200 a month, car and keep £200, £1K left over, £500 in your pocket, £500 to your creditors over 2 years, it be paid off! I would take your situation any day!


    Wow thanks for the advice. This message has really hit home. £10 should last me a week for lunch not a day. I can clear a good chunk each month and still have money left over.

    All your advice has been great. Last 3 months I've kept each letter I've received so I guess I better sort though them the weekend and see where I am.

    I'll put some figures on when I know where I am.
    Watch this space.... Will update soon!
  • meer53
    meer53 Posts: 10,217
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    Do what i do when i have to do things i keep putting off doing, set a time limit for doing them, then do as much as you can within that time. Say 2 hours, at the end of the 2 hours, stop and set yourself another target. If you feel like carrying on, then carry on !

    Another thing i find useful is to jot down each day what i spend, then at the end of the week, i can see whether i've overspent or not. It only takes seconds each evening but really brings home exactly where your money goes. I found that buying 2 coffees at work (we have Costas where i work !) each day was costing me £80 a month :eek:
    Not anymore ! That was without the sandwiches i used to buy too, i make my own now the night before. It's really satisfying when you get into the habit and can see what savings you can make.
  • Time_to_face_the_music
    Time_to_face_the_music Posts: 5,454
    Debt-free and Proud! Mortgage-free Glee!
    Forumite
    edited 21 November 2012 at 9:44PM
    Hi artnoble :hello:

    At the weekend, invest a couple of quid in a cheap filing box, label a section for each creditor you find via your letter stash. Sort them into date order and file them in the box.

    If you think you owe £12K, it's probably more. I guessed we owed £60K at the start of our DF journey and it was actually over £81K. Don't let this get you down, instead use it to make you more determined to sort this out.

    Get a free Noddle credit report and check this every month. If any of your debts are statute barred, make the decision if you are going to forget about these. Check all the other debts present and find out who the debt is with now, original creditor or DCA. Determine if interest and/or fees are being added.

    Work out how much you can afford to pay each month and how much each creditor/DCA will get. If you can do this via online banking, set up a standing order to make a payment each month. If not, write and ask for an up to date statement and paying in slips so you can make payments in a bank.

    Sort out the food issue. I used to buy breakfast and lunch in the cafe on the park where I work every day, total cost £30 to £35 a week. I now take bread, butter, jam and soup to work at a cost of £5 to £6 per week. Get to Aldi and buy some decent food for meals and drinks to take to work.

    Improve your life and you may not need the antidepressants, maybe counselling would be better, perhaps you don't need either. Getting yourself sorted out can be the greatest natural buzz and works better than any antidepressant over prescribed by GPs.

    This isn't the end of the road, it's the start of a journey! 9 months ago, we were £81,306 in debt, today we have paid off over £14,779 and we hope to be debt free in just over 3 years. YOU can be debt free a lot sooner, so please keep us updated with your debt free journey and we will all help you, support you, cheer you on, listen when you are down and celebrate your triumphs.

    Go artnoble, you can do this and we will be behind you all the way! :T
    LBM 10/1/12 ~ DFW Start 6/2/12: £82,344 ~ Now Zero
    :staradmin:starmod::staradmin Debt free 17th April 2015 :staradmin:starmod::staradmin
    Eternal thanks to the DMP & Mutual Support (no.439) and Payment a Day Threads
    Mortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads
    "Debt is normal. Be weird!" Dave Ramsey
    Proud to have dealt with our debt :)
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