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  • FIRST POST
    • Desperadoo
    • By Desperadoo 13th Jul 17, 6:07 PM
    • 29Posts
    • 55Thanks
    Desperadoo
    on verge of a breakdown
    • #1
    • 13th Jul 17, 6:07 PM
    on verge of a breakdown 13th Jul 17 at 6:07 PM
    Bit of background....my partner and myself owe a lot of money. We are dealing with them separate.as any sort of DMP formal or informal would effect my job . He is going to approach a Debt Charity about his so only my details below.

    Household expenses are my half, car expenses are mine....we have two cars as need them for work, cannot use public transport due to nature of work and distance

    I owe almost £20k and just cannot make payments any more. I have not missed any payments YET but robbing Peter to pay Paul every week. I have applied for a loan of £20k which has been approved " in principle " and paperwork should be with me tomworrow , my monthly payments for it will be £384...apr is i think 15.7% ( high I know ) and term is 7 years

    I just dont know what to do, this is making em so ill. Can anyone see anything I have missed ?

    I know no APR for Cards, dont have info to hand but all are over 20%, no 0% available to move debt around . not sure of details of mortgage either, sorry only half filled in


    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 3
    Number of children in household.........
    Number of cars owned.................... 2 only my car expenses below

    Monthly Income Details

    Monthly income after tax................ 1300 my average as self employed , some months may be slightly more
    Partners monthly income after tax....... 0 see above only mine on this SOA
    Benefits................................ 0
    Other income............................ 150 DD housekeeping money
    Total monthly income.................... 1450


    Monthly Expense Details

    Mortgage................................ 282.3 half of mortgage
    Secured/HP loan repayments.............. 192 Car on PCP
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 35.1
    Electricity............................. 35
    Gas..................................... 35
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 10
    Mobile phone............................ 45
    TV Licence.............................. 0 hubby pays
    Satellite/Cable TV...................... 10
    Internet Services....................... 10
    Groceries etc. ......................... 120 ( 520 total for household )
    Clothing................................ 20
    Petrol/diesel........................... 100
    Road tax................................ 0
    Car Insurance........................... 29.87
    Car maintenance (including MOT)......... 20
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 15
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 16
    Other insurance......................... 13.66
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 0
    Entertainment........................... 0
    Holiday.................................0
    Emergency fund.......................... 0
    (Unnamed monthly expense)............... 0
    hair.................................... 20
    Total monthly expenses.................. 1008.93



    Assets

    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0
    Total Assets............................ 0



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 0........(282.3)....0
    Hire Purchase (HP) debt ...... 0........(192)......0
    Total secured & HP debts...... 0.........-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    creation.......................3467.7....105...... .0
    creation.......................6440.65...165...... .0
    halifax........................585.......20....... .0
    bank cc .......................500.......20........0
    santander......................1829.36...50....... .0
    mbna...........................1679.7....55....... .0
    mbna...........................1081.96...35....... .0
    mbna...........................1171.93...30....... .0
    mbna...........................2539.11...80....... .0
    Total unsecured debts..........19295.41..560.......-



    Monthly Budget Summary

    Total monthly income.................... 1,450
    Expenses (including HP & secured debts). 1,008.93
    Available for debt repayments........... 441.07
    Monthly UNsecured debt repayments....... 560
    Amount short for making debt repayments. -168.93


    Personal Balance Sheet Summary
    Total assets (things you own)........... 0
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -19,295.41
    Net Assets.............................. -19,295.41


    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using other browser.
    Last edited by Desperadoo; 13-07-2017 at 7:14 PM.
Page 2
  • StepChange_Linsi
    Hi Desperadoo

    I hope you don’t mind me replying to your post.

    You mentioned that a debt solution such as a DMP could affect your job, can I check whether you’ve had advice to say this would definitely be the case? If you haven’t, it’s worth looking into as not every debt solution will impact a self-employed business.

    You can contact Business Debtline for specialist advice on the impact of debt solutions on your business or you can use our Debt Remedy tool to create a budget and get advice online.

    Our Debt Remedy tool is anonymous, so using it won’t have any impact on your job or credit file. You’ll be able to get a better idea of the solutions available to you as well as more general advice about dealing with debts and budgeting.

    Being in debt can be really stressful even at the best of times, have you thought about speaking to your GP or a mental health organisation such as Mind?

    I hope this helps,

    Linsi

    Bit of background....my partner and myself owe a lot of money. We are dealing with them separate.as any sort of DMP formal or informal would effect my job . He is going to approach a Debt Charity about his so only my details below.

    Household expenses are my half, car expenses are mine....we have two cars as need them for work, cannot use public transport due to nature of work and distance

    I owe almost £20k and just cannot make payments any more. I have not missed any payments YET but robbing Peter to pay Paul every week. I have applied for a loan of £20k which has been approved " in principle " and paperwork should be with me tomworrow , my monthly payments for it will be £384...apr is i think 15.7% ( high I know ) and term is 7 years

    I just dont know what to do, this is making em so ill. Can anyone see anything I have missed ?

    I know no APR for Cards, dont have info to hand but all are over 20%, no 0% available to move debt around . not sure of details of mortgage either, sorry only half filled in


    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 3
    Number of children in household.........
    Number of cars owned.................... 2 only my car expenses below

    Monthly Income Details

    Monthly income after tax................ 1300 my average as self employed , some months may be slightly more
    Partners monthly income after tax....... 0 see above only mine on this SOA
    Benefits................................ 0
    Other income............................ 150 DD housekeeping money
    Total monthly income.................... 1450


    Monthly Expense Details

    Mortgage................................ 282.3 half of mortgage
    Secured/HP loan repayments.............. 192 Car on PCP
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 35.1
    Electricity............................. 35
    Gas..................................... 35
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 10
    Mobile phone............................ 45
    TV Licence.............................. 0 hubby pays
    Satellite/Cable TV...................... 10
    Internet Services....................... 10
    Groceries etc. ......................... 120 ( 520 total for household )
    Clothing................................ 20
    Petrol/diesel........................... 100
    Road tax................................ 0
    Car Insurance........................... 29.87
    Car maintenance (including MOT)......... 20
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 15
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 16
    Other insurance......................... 13.66
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 0
    Entertainment........................... 0
    Holiday.................................0
    Emergency fund.......................... 0
    (Unnamed monthly expense)............... 0
    hair.................................... 20
    Total monthly expenses.................. 1008.93



    Assets

    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0
    Total Assets............................ 0



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 0........(282.3)....0
    Hire Purchase (HP) debt ...... 0........(192)......0
    Total secured & HP debts...... 0.........-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    creation.......................3467.7....105...... .0
    creation.......................6440.65...165...... .0
    halifax........................585.......20....... .0
    bank cc .......................500.......20........0
    santander......................1829.36...50....... .0
    mbna...........................1679.7....55....... .0
    mbna...........................1081.96...35....... .0
    mbna...........................1171.93...30....... .0
    mbna...........................2539.11...80....... .0
    Total unsecured debts..........19295.41..560.......-



    Monthly Budget Summary

    Total monthly income.................... 1,450
    Expenses (including HP & secured debts). 1,008.93
    Available for debt repayments........... 441.07
    Monthly UNsecured debt repayments....... 560
    Amount short for making debt repayments. -168.93


    Personal Balance Sheet Summary
    Total assets (things you own)........... 0
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -19,295.41
    Net Assets.............................. -19,295.41


    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using other browser.
    Originally posted by Desperadoo
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • beanielou
    • By beanielou 15th Jul 17, 9:07 PM
    • 48,525 Posts
    • 178,619 Thanks
    beanielou
    I have to say it is not about your DD feeling she pays enough.
    It is about the fact that really she is not paying her way.
    I would suggest you look at the links about re debt in NI.
    Remember to try to take care of you in all of this.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
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