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  • FIRST POST
    • UncannyScot
    • By UncannyScot 21st Apr 17, 9:01 PM
    • 370Posts
    • 1,376Thanks
    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 4
    • Sun Addict
    • By Sun Addict 16th May 17, 7:08 PM
    • 4,020 Posts
    • 21,000 Thanks
    Sun Addict
    Sorry to hear the cat re-homing fell through but as you say there are many more out there in need of a good home.

    Great news about the financial plan though.
    Virtual Sealed Pot £424.05
    Weight loss 0/7lbs
    Mr SA finally in remission December 2013
    • anna_1977
    • By anna_1977 17th May 17, 10:00 AM
    • 576 Posts
    • 795 Thanks
    anna_1977
    Hi Anna,

    thank you.
    It's the amount that was agreed on (5 kids)
    Originally posted by UncannyScot
    Ahh 5 kids - they definitely explains it
    • UncannyScot
    • By UncannyScot 17th May 17, 11:49 AM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    Quickie Update

    Financial

    Switching over to new bank account.
    DD's, SO's etc on old account ALL cancelled
    Working on updates to my spreadsheets etc and gathering all the data info I need for next CAB meeting on Monday (22nd)
    Staying positive and thinking happy...

    Cat

    Have contacted local Cats Protection again regarding re-homing an indoor cat... left a message so awaiting contact

    Staying focused

    Have a good one everybody
    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.
    • Tahlullah
    • By Tahlullah 17th May 17, 7:18 PM
    • 739 Posts
    • 4,528 Thanks
    Tahlullah
    Sending positive vibes your way in the hope they help.

    Tx
    Striving to be mortgage free.
    • UncannyScot
    • By UncannyScot 18th May 17, 7:23 PM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    I may have to apply for sequestration (Scottish Bankruptcy)...

    I was looking to do a DPP, however, in order to get myself totally debt-free and not be worrying about anything coming back from the past Sequestration may be my best option...
    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.
    • Sun Addict
    • By Sun Addict 18th May 17, 8:31 PM
    • 4,020 Posts
    • 21,000 Thanks
    Sun Addict
    Do what's best for you, then you can start afresh, wipe the slate clean.
    Virtual Sealed Pot £424.05
    Weight loss 0/7lbs
    Mr SA finally in remission December 2013
    • UncannyScot
    • By UncannyScot 18th May 17, 10:03 PM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    Thank you Sun Addict

    I will be looking at all the pros and cons...

    A DPP (Debt Payment Plan) is covered by the Scottish Governments' Debt Arrangement Scheme (DAS) and is conducted in a similar way to sequestration, the difference being you pay back the debt which is frozen at the point of it's inception... your creditors CANNOT add any further interest onto what you owe and they CANNOT harass you in any way... it can last for much longer than sequestration...
    It is controlled by the Accountant in Bankruptcy and your plan is assigned an administrator who will make payment from your remaining income to all your creditors who each get a share dependent upon amount owed... the key being a reasonable period of time to pay back... I believe it is 10 years...

    Sequestration (Scottish Bankruptcy), usually discharged after a year can last up to four years dependent on level of payments towards debts... Debts are cleared... six years on credit file then gone...

    Seems ATM that sequestration is best option.
    Yes it will have long lasting effects on credit rating, however, as I have no intention of seeking any further credit in the future that's kind of irrelevant...
    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.
    • UncannyScot
    • By UncannyScot 18th May 17, 10:14 PM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    Just heard that Chris Cornell has died

    Will be listening to Soundgarden and Audioslave for a while....

    RIP Chris
    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.
    • Sun Addict
    • By Sun Addict 19th May 17, 9:55 PM
    • 4,020 Posts
    • 21,000 Thanks
    Sun Addict
    That must have been such a shock for his fans just been to the concert, very sad, he must've been in a very dark place

    The sequestration sounds the best option for you if you have no plans for further credit.

    What's happening on the cat front?
    Virtual Sealed Pot £424.05
    Weight loss 0/7lbs
    Mr SA finally in remission December 2013
    • UncannyScot
    • By UncannyScot 20th May 17, 10:39 AM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    Hi Sun Addict,

    Chris' death was a shock, a key voice of my youth and the grunge scene along with Eddie Vedder, Kurt Cobain, Scott Weiland and Layne Staley. Now only Eddie remains...

    Yes, sequestration appears to be the best option as it will deal with everything in one fell swoop and then I will have nothing further to worry about... my only concern is how it will affect the support I give to the family.

    I have heard conflicting views on this, that either the appointed trustee will not be interested in family/child support payments that are made as agreed OR that they will seek to reduce these if THEY think they are too much... I do not want my kids to suffer any more because of their fathers' financial foolishness, I will go without for their sake's (and have done many a time).
    If anyone has any input on this please advise, it is likely that the local CAB Debt adviser may be my trustee, however, if anyone has experience to share please do...

    on the cat adoption front, waiting to hear back from the lovely lady I first contacted about an indoor only cat.
    I have also contacted a few smaller local organisations regarding providing a home and I am just waiting to see what happens...
    I would love, if I was ever to have a home with a garden and away from busy roads to get a cat that could wander and explore to its' hearts content...
    As soon as I know what is happening I will post an update. I know this must be as frustrating for those of you who follow my ramblings as it is for me and believe me when I do finally get my cat you will be absolutely overwhelmed with posts and pictures of our adventures
    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.
    • UncannyScot
    • By UncannyScot 20th May 17, 8:01 PM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    I've posted on the Bankruptcy and Living with it section of the forum regarding my sequestration questions...

    Hopefully someone there can offer some advice, however it seems to cover what it is mostly Bankruptcy from the point of view of the rest of the UK... It's a different system in Scotland
    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.
    • UncannyScot
    • By UncannyScot 21st May 17, 11:38 AM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    Ah Sunday, Sunday...
    Busy wee day for me.
    Today's To Do's;
    Clean house,
    - Tidy up clutter DONE
    - Damp dust everywhere that needs it DONE
    - Hoover Living Room DONE
    - Hoover Bed Room DONE
    - Hoover Hall DONE
    - Clean down all Kitchen Surfaces DONE
    - Clean the Cooker / Oven DONE
    - Mop Kitchen floor DONE
    - Clean down all shelves/surfaces in Bath Room DONE
    - Clean Bath/Shower, Sink and Toilet DONE
    - Mop Bathroom Floor DONE
    - Get the washing done DONE

    Lunch n relax...

    Will come back on to update all this when it's done and I'm having a cuppa
    Have a lovely Sunday folks
    Last edited by UncannyScot; 21-05-2017 at 2:53 PM. Reason: UPDATES :D
    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.
    • Cumbria lass
    • By Cumbria lass 21st May 17, 12:46 PM
    • 282 Posts
    • 540 Thanks
    Cumbria lass
    Like your thread have subscribed, hope you get the outcome you want.

    Hope all your list gets done .
    July 2017 CC1 3769 CC 2 1150 Emergency Fund £1150

    Debt Free Nov 2019: earlier if I have my way
    • UncannyScot
    • By UncannyScot 21st May 17, 1:15 PM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    Thanks Cumbria Lass
    Just stopped for a quick cuppa before tackling the gruesome twosome of the Kitchen n Bathroom
    Love your diary too and following ;D
    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.
    • UncannyScot
    • By UncannyScot 21st May 17, 2:54 PM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    ... and now... relax...

    Chores done and time to chill.
    Have a lovely day 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.
    • UncannyScot
    • By UncannyScot 22nd May 17, 12:44 PM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    Quickie - CAB appointment tonight. Discussing Sequestration...
    Didn't sleep well at all last night... going over and over things...

    Keep telling myself there is no other option... and trying to stay positive...
    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 22nd May 17, 1:54 PM
    • 3,750 Posts
    • 14,864 Thanks
    Hiddenidenity
    Hopefully after the appointment you'll feel better 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 22nd May 17, 2:24 PM
    • 370 Posts
    • 1,376 Thanks
    UncannyScot
    Thank you Hiddenidentity
    I hope so...
    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.
    • doingitanyway
    • By doingitanyway 22nd May 17, 7:15 PM
    • 1,659 Posts
    • 7,533 Thanks
    doingitanyway
    Wishing you well for the appointment this evening. You totally have this.
    JANUARY 2016/SECURED DEBT=24,822/June 2017=8,800
    MORTGAGE FREE 25/07/16
    • Hiddenidenity
    • By Hiddenidenity 22nd May 17, 9:05 PM
    • 3,750 Posts
    • 14,864 Thanks
    Hiddenidenity
    Hope everything went okay 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
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