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  • FIRST POST
    • UncannyScot
    • By UncannyScot 21st Apr 17, 9:01 PM
    • 371Posts
    • 1,378Thanks
    UncannyScot
    Rambling on...
    • #1
    • 21st Apr 17, 9:01 PM
    Rambling on... 21st Apr 17 at 9:01 PM
    Where do I begin? This is hard...
    OK, I'll begin with my SOA:

    Household Info
    Number of adults - 1
    Number of children - 0 (they are with their Mum)
    Number of cars - 0

    Monthly Income
    After tax - 2104
    Benefits - 0
    Other Income - 0
    Total Monthly Income - 2104

    Monthly Expenses
    Rent - 295
    Council Tax - 80
    Elec - 30
    Gas - 30
    Home Phone/TV and Broadband - 45
    Mobile - 12
    TV Licence - 13
    Shopping - 170
    Clothes/Shoes - 30
    Childcare/nursery - 500
    Other Child related expenses - 500
    Haircuts/Shaving - 10
    Entertainment - 20
    Emergency Fund - 15
    Total - 1750

    Assets

    Cash - 0
    House value - 0 (N/A)
    Shares/Bonds - 0 (N/A)
    Car - 0
    Other Assets - 0
    Total - 0

    Secured/HP Debt
    Mortgage - 38500
    Secured Debt - 19500
    Total - 58000

    UnSecured Debts
    Loans/Short Term/Payday - 6060
    Credit Cards - 1450
    Old Mobile Account - 330
    Total - 7840

    Monthly Budget Summary
    Total Income - 2104
    Expenses - 1750
    Available for debt repayments - 354

    Personal Balance Sheet Summary
    Total Assets - 0
    Total Secured Debt; -58000
    Total Unsecured Debt; -7840
    Net Assets; -65840
    there may be a few wee errors here as I had to type it all out as it wouldn't let me paste it in...

    As you can see, it's BAD... How did it get so bad?
    When I left home and got my home of me own I thought I was doing great. Single lad, I had a good job, good income, social life etc.
    I had the mortgage with the bank, credit card with the bank, then a loan for my first car...then other loans... and so it began to build up.
    After a while I managed to clear the loans and the cards and was able to keep myself in the black.
    Eventually, I met a nice lassie, we got married, had kids and started to build up debts again... Loans for holidays, cars, furniture etc. Used Credit cards and the bank overdraft for emergencies... we thought we were doing alright.

    I rented out my old pad, the rent covered the mortgage.
    Then out of the blue I lost my job...
    I lost the the old place cos my tenant moved out, got married and set up on her own. I couldn't get another tenant who stayed long enough and paid the rent to keep it going... I lost it... repossessed.

    My marriage fell apart, I left my family and the family home... had a total meltdown/breakdown.
    I ended up homeless, going from friend to friend, whoever would put me up for a bit, let me have somewhere to sleep.
    This went on for a few years, until I was fortunate enough to land another job. The friend I was staying with encouraged me to apply for a flat with the local council and eventually I got one.

    I began to get back on my feet again, furnishing my wee place with second-hand furniture and other basic household items from the local charity shops. I don't have anything much (the old laptop I'm using is held together with duct tape and is veerrrryyyy sllloooooow...).

    Now, i am being chased for my debts, it's time to face up to the mess that I have made of my life and wipe out the debt and become and stay debt free....
    Last edited by UncannyScot; 21-04-2017 at 9:04 PM.
Page 13
    • UncannyScot
    • By UncannyScot 10th Jul 17, 8:03 PM
    • 371 Posts
    • 1,378 Thanks
    UncannyScot
    Thanks Hiddenidentity & another casualty

    I am going to take a step back to think and process this...

    My mum will be devastated about my situation, but, as you said AC, she will be there for me; she will understand why I am doing what I am doing.

    I will have to come off my mums account and another trusted family member take over the responsibility.

    This can and will be resolved prior to my sequestration.
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • Chandelier.
    • By Chandelier. 10th Jul 17, 8:15 PM
    • 457 Posts
    • 1,201 Thanks
    Chandelier.
    Sounds like you have a plan. It's just another hurdle in the road you'll have to jump. But you can do it.

    Check out my Diary
    • Cumbria lass
    • By Cumbria lass 10th Jul 17, 8:41 PM
    • 282 Posts
    • 546 Thanks
    Cumbria lass
    Have read your diary today and think you gave done a brilliant job so far. Loving the idea of monthly reviews. I like to do this , however this month I will be in trouble with myself !

    Your mum will be ok with everything in the end , us mums usually are .
    July 2017 CC1 3769 CC 2 1150 Emergency Fund £1150

    Debt Free Nov 2019: earlier if I have my way
    • Sun Addict
    • By Sun Addict 10th Jul 17, 9:03 PM
    • 4,020 Posts
    • 21,003 Thanks
    Sun Addict
    Hope you get the account sorted. I'm sure your mum will understand, at least you're doing something to remedy your situation it's not as if you're burying your head in the sand.
    Virtual Sealed Pot £424.05
    Weight loss 0/7lbs
    Mr SA finally in remission December 2013
    • UncannyScot
    • By UncannyScot 10th Jul 17, 9:14 PM
    • 371 Posts
    • 1,378 Thanks
    UncannyScot
    The most important thing is that my mum doesn't lose her savings. If i get my name off that account it will help prevent her account and savings being frozen or taken away from her.
    I am going to discuss with CAB and ask for advice. I think that if I let the IP/Trustee in waiting know and explain whats what then it may look like I am trying to hide money away somewhere... also it would be tipping them off about a possible windfall... arrrrggghhhh
    So, get my name off the account and keep schtum about it all?
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • dionysia
    • By dionysia 10th Jul 17, 9:38 PM
    • 63 Posts
    • 117 Thanks
    dionysia
    I think the keeping schtum plan sounds a bit risky. If they found about it somehow later it could look really dodgy, they might freeze your mum's account anyway to make sure it's really her money and if they think you've been dishonest they might be able to extend how long you're in sequestration for. Definitely check with CAB!
    June 2017: owe £16,818.
    • UncannyScot
    • By UncannyScot 10th Jul 17, 10:53 PM
    • 371 Posts
    • 1,378 Thanks
    UncannyScot
    Definitely seeking advice from CAB on this.
    I'm thinking that being right upfront about it all may be best TBH
    I have never deposited into or withdrawn money from the account, it is all my mums. Surely a check of the account would show that?
    I'm away to my bed now, will deal with this in morning,
    Goodnight everyone
    Last edited by UncannyScot; 10-07-2017 at 10:56 PM.
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • Hiddenidenity
    • By Hiddenidenity 11th Jul 17, 10:17 AM
    • 3,758 Posts
    • 14,884 Thanks
    Hiddenidenity
    Hope you're doing okay today

    I agree your CAB advisor should know what's best to do and how to do it x

    DFW £718.71/£7348.71
    Rent Arrears £331.28/£3381.28

    June 17 PA £121.25 + £70 Cash + £50 Amazon
    July 17 PA £216.52 + £25 Cash + £45 Amazon
    • UncannyScot
    • By UncannyScot 11th Jul 17, 11:39 AM
    • 371 Posts
    • 1,378 Thanks
    UncannyScot
    Have e-mailed my CAB advisor so shall see what they come back with...
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • Hiddenidenity
    • By Hiddenidenity 11th Jul 17, 11:43 AM
    • 3,758 Posts
    • 14,884 Thanks
    Hiddenidenity
    Fingers crossed x

    DFW £718.71/£7348.71
    Rent Arrears £331.28/£3381.28

    June 17 PA £121.25 + £70 Cash + £50 Amazon
    July 17 PA £216.52 + £25 Cash + £45 Amazon
    • UncannyScot
    • By UncannyScot 11th Jul 17, 5:28 PM
    • 371 Posts
    • 1,378 Thanks
    UncannyScot
    CAB came through once again :D
    Hi folks,

    CAB advisor came back to me this afternoon.

    Basically advised that I take my name off Mam's account and another family member take over until my sequestration is complete. Once my sequestration is complete I can then be added back on to the account

    It also safeguards against the rest of the family losing out on my Mams estate should she pass during the sequestration. I would rather have my Mam than the money TBH...

    Going to speak to one of my Aunts' or Uncles' about taking over from me whilst I am going through the sequestration.

    Solution, planned for and soon to be sorted - RESULT!
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • Hiddenidenity
    • By Hiddenidenity 11th Jul 17, 6:05 PM
    • 3,758 Posts
    • 14,884 Thanks
    Hiddenidenity
    Brilliant glad you got it sorted.

    I'm sure your family will understand and 100% support you x

    DFW £718.71/£7348.71
    Rent Arrears £331.28/£3381.28

    June 17 PA £121.25 + £70 Cash + £50 Amazon
    July 17 PA £216.52 + £25 Cash + £45 Amazon
    • Toni'sfriend
    • By Toni'sfriend 11th Jul 17, 7:26 PM
    • 613 Posts
    • 5,528 Thanks
    Toni'sfriend
    I'm glad you've got this sorted. I'm sure your mum and the rest of your family will applaud you for being responsible and trying to sort this all out. Wee mammies are wonderful and they never stop being your wee mammie. You really will get there in the end because you are taking a sensible approach and dealing with everything as it comes up.
    NSD 10/14 Weightloss 1.5/48 July womble £51.85 2017 Wombling total £1051.88
    • UncannyScot
    • By UncannyScot 11th Jul 17, 7:41 PM
    • 371 Posts
    • 1,378 Thanks
    UncannyScot
    Brilliant glad you got it sorted.

    I'm sure your family will understand and 100% support you x
    Originally posted by Hiddenidenity

    I'm glad you've got this sorted. I'm sure your mum and the rest of your family will applaud you for being responsible and trying to sort this all out. Wee mammies are wonderful and they never stop being your wee mammie. You really will get there in the end because you are taking a sensible approach and dealing with everything as it comes up.
    Originally posted by Toni'sfriend
    Thanks folks

    Going to speak to my Aunt who is my Mams' youngest sister about stepping in for me and taking responsibility for being joint account holder with my Mam and helping me to explain to my Mam what I am doing and why.
    My Mam trusts my Aunt completely and so do I so I don't see there being any issues, other than my Mams' initial disappointment with me about my sequestration. However, my Aunt is a teacher and she will be able to help me to help my Mam to understand what and why etc.
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • dionysia
    • By dionysia 11th Jul 17, 7:45 PM
    • 63 Posts
    • 117 Thanks
    dionysia
    That's a great result! I'm glad you've got a way forward . Maybe look into power of attorney as well or instead of the joint account - that might have to be your aunt too for the time being, but then there would be somebody who can act for your mum on lots of things if the time comes it's needed.
    June 2017: owe £16,818.
    • UncannyScot
    • By UncannyScot 11th Jul 17, 7:51 PM
    • 371 Posts
    • 1,378 Thanks
    UncannyScot
    That's a great result! I'm glad you've got a way forward . Maybe look into power of attorney as well or instead of the joint account - that might have to be your aunt too for the time being, but then there would be somebody who can act for your mum on lots of things if the time comes it's needed.
    Originally posted by dionysia
    Thank you

    Basically, that's kinda the plan. I do quite a lot to help my Mam and act on her behalf for a lot of things and that will also have to pass to my Aunt.
    Incidentally my Aunt is aware of my debt situation although not that I am planning to go for the B. She won't be surprised though when I tell her.
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • Toni'sfriend
    • By Toni'sfriend 11th Jul 17, 7:52 PM
    • 613 Posts
    • 5,528 Thanks
    Toni'sfriend
    I wouldn't worry about your mum being disappointed in you. She will just be glad that, given the really difficult time you've had, you're taking steps to sort your life out.
    NSD 10/14 Weightloss 1.5/48 July womble £51.85 2017 Wombling total £1051.88
    • another casualty
    • By another casualty 11th Jul 17, 9:35 PM
    • 2,742 Posts
    • 4,246 Thanks
    another casualty
    Sounding good .
    • Sun Addict
    • By Sun Addict 12th Jul 17, 8:42 PM
    • 4,020 Posts
    • 21,003 Thanks
    Sun Addict
    Glad there is a solution, another step forwards
    Virtual Sealed Pot £424.05
    Weight loss 0/7lbs
    Mr SA finally in remission December 2013
    • UncannyScot
    • By UncannyScot 12th Jul 17, 8:47 PM
    • 371 Posts
    • 1,378 Thanks
    UncannyScot
    Waiiiii Ting!
    Evening folks

    Have had a good day today.

    waiting for my Aunt to get back to me as to when we can meet up to discuss things. Hopefully soon.

    I am waiting patiently now for the new season of GoT (aye, right... ) just as i am waiting patiently for George to finish and release the next book... and the next book....
    Yes, I am one of those people who was reading the books waaay before the TV show
    Any other fans here? Speculations on the new season?

    Well, I'm trying to relax with an ale (or two...) and some cheese n toast and catch up on folks adventures

    Have a good evening folks
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
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