Help please...not sure what next

2

Comments

  • mummybear14_2
    mummybear14_2 Posts: 58 Forumite
    Yes I plucked up the courage to tell me and he's been great. He's taken some of my DD and is trying to pay for any essentials like school uniforms, shoes etc. we don't have a joint account I have my own basic account.

    I'll set up a spreadsheet today and make a start.

    Thanks you so much for taking the time to help I am so embarrassed at how bad the situation is and couldn't face going to CAB and talking to someone face to face, although I would prob have just cried.
  • mummybear14_2
    mummybear14_2 Posts: 58 Forumite
    Yes the bills are almost halved hubby pays for slightly more but he has slightly more earning than me. He pays for landline and Internet but I recetly changed and managed to get this a quarter of the price that he was paying.
  • amorge
    amorge Posts: 386 Forumite
    Don't be embarrassed, most people here are in the same boat (me very much included!!) I am totally ashamed of my debt as it's all my own fault - however, being on here and getting all the support I have has made a HUGE difference to me.

    Have you checked round the house for things to sell? I've made a small fortune selling things since my LBM :)

    Just don't forget; you're not alone

    x
    LBM 18/06/15 - [STRIKE]£20,276.64[/STRIKE] :eek:
    01/07/15 - £19,897.02
  • lambda
    lambda Posts: 222 Forumite
    Debt-free and Proud!
    Don't be embarrassed. It's happened. And happens to us all.

    I think first thing is to get the APR rates for all your debts (should be on a statement or agreement). Then do your budget. If you want help with the budget, post it on here and we can help. It's a bit different to the SOA: that's a more high-level picture of your current situation; the budget is more low level and accounts for all categories of spending. There's some good advice on this site as well on how to make a budget.
    October 2015 = -13242.16 DFD 28/10/2016 £0 :T
  • mummybear14_2
    mummybear14_2 Posts: 58 Forumite
    edited 7 July 2015 at 11:43AM
    I went through my statements and as far as I can see they are all 0% Apr.

    I will try to get my budget done within the next few hours in between my work.

    Thanks again
  • lambda
    lambda Posts: 222 Forumite
    Debt-free and Proud!
    OK. What's the monthly repayments on them? Best to have them for good measure. :)
    October 2015 = -13242.16 DFD 28/10/2016 £0 :T
  • mummybear14_2
    mummybear14_2 Posts: 58 Forumite
    Santander now moved to Wescot paying £1 token payment
    MBNA now moved to Moorcroft paying £1 token payment
    Lowell paying £1 token payment
    Mint paying £1 token payment Minimun Payment £364.85 ( I assume this includes my missed payment as the balance is £1192) interest rate is showing o%
    Aqua now moved to Robinson Way £1 token payment
    Barclaycard £1 token payment and interest is showing 0%
    Very now moved to NCO £1 token payment
    Argos now moved to Zinc £1 token payment
    Creation 22.9% but they have frozen the interest paying £1 token payment
    Next now moved to Brecon £1 token payment

    This is what is on my letter/statements....not sure if this is the right information...sorry I'm useless at this
  • sourcrates
    sourcrates Posts: 28,876 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    mummybear14 wrote: »
    I do have a mortgage but my husband makes the payments and pays the rates etc so they are all up to date.

    Are you named on the mortgage at all ?

    As I see it, paying what you presently pay, it will take you 25 years plus to pay it all back.
    Clearly that's far too long, cutting back and making savings could reduce this timescale, but it's still a very long time.
    If you have no interest in a property, I would seriously concider bankrupcy, or if you are on the mortgage, your other option is an IVA, a DMP will take you a very long time to complete.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • mummybear14_2
    mummybear14_2 Posts: 58 Forumite
    The mortgage is in joint names. I have read about an IVA but dont really understand what way it works especially with regard to our house.
  • Angry_Bear
    Angry_Bear Posts: 2,021 Forumite
    First Post First Anniversary Combo Breaker PPI Party Pooper
    If you've been paying nothing (or token payments) for a while, I'd suggest making a F&F settlement offer (look arund for template letters) to Barclaycard to settle the whole debt. Explain that this is a one-time offer, and the cash isn't available for anything other than a F&F deal.
    You might be able to wipe out the whole £7660 debt with your £3500, and the worst they can say is "no"!
    Do you not know that a man is not dead while his name is still spoken?
    ― Sir Terry Pratchett, 1948-2015
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