In a daze

rubydoiwannabee

StuntmanBob wrote: »

But I love my DVDs ... all bought for £5-£15 and now worth £1 each if that. What a waste. I have to have something to hang on to. In my position you could well say that it's too late for that. But I have to hang to something. About the only thing I've achieved in the last few years is building my DVD collection.

This probably sounds like the stupidist thing you ever read.

Hi Bob,
Keep your DVD's and decide on the things you can let go off. Please don't beat yourself up, I know it is hard but what's done is done and now you are turning things around.

Virtual hugs and best wishes....

Go and watch your favourite film ever in the dark and take your mind of things. Sounds like you need to sleep, so that might help you drop off.

Sorry I am not experienced at this debt management business, but you HAVE TO care for yourself first and foremost.

xx

Uniscots97

StuntmanBob wrote: »

It's a mess. There's still lots of stuff on here which I know I have to change, like quitting smoking, stopping going to the pub.

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 4500
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 4500

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 53 (check out uSwitch as well as checking to see if you can move to alower tariff)
Gas..................................... 41 (see above)
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 40 (this is very high can you move to a package that would include your broadband?)
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 25 (would it be possible to cut this down to the basic package or even get rid of it for a year and get a freeview box?)
Internet Services....................... 30 (see telephone entry)
Groceries etc. ......................... 290 (how many is this feeding? I feed 2 adults and 2 teenagers on 200 for a month)
Clothing................................ 0
Petrol/diesel........................... 187
Road tax................................ 15
Car Insurance........................... 52
Car maintenance (including MOT)......... 72
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 100
Medical (prescriptions, dentist etc).... 67 (can you get a annual prescription charge maybe reduce this a little?)
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 48
Other insurance......................... 0
Presents (birthday, christmas etc)...... 70
Haircuts................................ 3
Entertainment........................... 350 (don't mean to be nosey or cheeky but what is this spent on?)
Holiday................................. 60
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
(Unnamed monthly expense)............... 0
Cash Spending........................... 450 (what does this break down to?)
Wine and Beer........................... 175 (is it possible to cut this down?)
Maintenance and Child Support Payments.. 705
Total monthly expenses.................. 3755

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Loan: Barclaycard..............11043.....298.......0
Loan: Coop.....................14081.....300.......0
Loan: Direct Line..............15044.....320.......0
Overdraft......................12000.....0.........0
Card: Natwest..................8538......196.......0
Card: Lloyds...................1.........0.........0
Card: John Lewis...............4901......253.......0
Card: Coop.....................11185.....226.......0
Card: Beneficial...............6958......173.......0
Card: Barclaycard..............16312.....374.......0
Loan: Natwest..................14510.....230.......0
Loan: Egg......................10913.....330.......0
Total unsecured debts..........125486....2700......-

Monthly Budget Summary
Total monthly income.................... 4,500
Expenses (including secured debts)....... 3,755
Available for debt repayments........... 745
Monthly UNsecured debt repayments....... 2,700
Surplus(deficit if negative)............ -1,955

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total Secured debt...................... -0
Total Unsecured debt.................... -125,486
Net Assets.............................. -124,986

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Also I have to pay HMRC £5000 by the end of the month.
I posted on another thread, it's BR time for me.
Which I've been expecting for months but haven't been able to face.
Now the doodah is hitting the fan. I feel like putting everything into storage and running away. But I have a job to hold down and two kids whom I love so much, so I can't do that.

Sorry I'm just wallowing in self pity today. I stayed up all night and the tiredness has messed me up.

Hi Bob, I've marked suggestions in red. Sorry if these seem cheeky or nosey but you could make some hefty savings. How many are you feeding on the groceries? The OS board is great for recipes and ideas. As for HMRC, have you contacted them? Could you at least make a token payment this month? I haven't dealt with them for a long time but if you explain your situation they may let you pay over a few months.

Uniscots97

StuntmanBob wrote: »

But I love my DVDs ... all bought for £5-£15 and now worth £1 each if that. What a waste. I have to have something to hang on to. In my position you could well say that it's too late for that. But I have to hang to something. About the only thing I've achieved in the last few years is building my DVD collection.

This probably sounds like the stupidist thing you ever read.

It was just a thought. It doesn't sound stupid at all. I posted comment against your SOA you posted. Only trying to help sorry if I offended you.

angelflower_2

StuntmanBob wrote: »

It's a mess. There's still lots of stuff on here which I know I have to change, like quitting smoking, stopping going to the pub.

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 4500
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 4500

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 53 - very high, look for comparrison sites and go via cashback site
Gas..................................... 41 - same as ele
Oil..................................... 0
Water rates............................. 30 - use a water hippo in the loo and other various methods to cut down consumption
Telephone (land line)................... 40 - can you shop around for this
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 25 - get rid, you cant afford
Internet Services....................... 30 - review and shop around
Groceries etc. ......................... 290 - v high, drop on over to the old style board for tips on spending less here.
Clothing................................ 0
Petrol/diesel........................... 187 - v high, can you offset more of these miles for tax/work purposes. Can you reduce some of the journeys ie on public transport
Road tax................................ 15
Car Insurance........................... 52 - this is high, at renewal, can you shop around, use cashback sites
Car maintenance (including MOT)......... 72
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 100
Medical (prescriptions, dentist etc).... 67 - are these really necessary?
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 48 can you get rid of this or reduce it?
Other insurance......................... 0
Presents (birthday, christmas etc)...... 70 reduce and have a leaner time for the coming year.
Haircuts................................ 3
Entertainment........................... 350 obvious one that has to go
Holiday................................. 60 same, you cant afford holidays at the moment
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
(Unnamed monthly expense)............... 0
Cash Spending........................... 450 - you have to stop this
Wine and Beer........................... 175 has to stop
Maintenance and Child Support Payments.. 705 you are struggling to pay this...can you apply to have it reviewed?
Total monthly expenses.................. 3755

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500 monthly maintenance costs are very high compared to the value of the car!!!
Other assets............................ 0
Total Assets............................ 500

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Loan: Barclaycard..............11043.....298.......0
Loan: Coop.....................14081.....300.......0
Loan: Direct Line..............15044.....320.......0
Overdraft......................12000.....0.........0
Card: Natwest..................8538......196.......0
Card: Lloyds...................1.........0.........0
Card: John Lewis...............4901......253.......0
Card: Coop.....................11185.....226.......0
Card: Beneficial...............6958......173.......0
Card: Barclaycard..............16312.....374.......0
Loan: Natwest..................14510.....230.......0
Loan: Egg......................10913.....330.......0
Total unsecured debts..........125486....2700......- yip, bit of a scary list here but still, on your salary and willingness to have an extreme review of your spending, this can be dealt with and hopefully without going down the BR route. If you were to look at the spending above, you could reduce by approx £700 and put that to the debt!! You will prob have to go on a debt management plan though to do properly or if you are very determined, can use the snowball tool and do this effectively but this will take huge courage and determination.

Monthly Budget Summary
Total monthly income.................... 4,500
Expenses (including secured debts)....... 3,755
Available for debt repayments........... 745
Monthly UNsecured debt repayments....... 2,700
Surplus(deficit if negative)............ -1,955

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total Secured debt...................... -0
Total Unsecured debt.................... -125,486
Net Assets.............................. -124,986

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Also I have to pay HMRC £5000 by the end of the month.
I posted on another thread, it's BR time for me.
Which I've been expecting for months but haven't been able to face.
Now the doodah is hitting the fan. I feel like putting everything into storage and running away. But I have a job to hold down and two kids whom I love so much, so I can't do that.

Sorry I'm just wallowing in self pity today. I stayed up all night and the tiredness has messed me up.

Some of my comments will sound a bit extreme but you are on the right place, and you can do this. You will have to be ruthless though on your spending.

dancingfairy

I would go and get some advice from the CAB/CCCS/Payplan etc.
You may be able to avoid bankruptcy, I'm not sure. I think a DMP would possibly work for you. You have nearly £1000 you can free up from your SOA which is a huge amount. This could come from cash spending (what's this?), Alcohol, and Entertainment.

The first thing you really need to tackle is the bill to HMRC. Could you send all your creditors a token £1 payment and say you are getting help. Get as much money for the HMRC as possible- you don't need to pay that much on birthdays and holidays this month do you? . Even if you pay them £3000 instead of the £5000 they want and try and come up with a payment plan with them? It might help but get some advice.

dancingfairy

Would agree with AngelFlower- you can do this. It will be tough but you should be able to get out of this mess with some hard work and determination.

whitewing

Bob, had to give you a (hug). I'm having a tough day too today.

Don't sell your DVDs.

Go and see one of the organisations as suggested above.

Why not just do a declutter, and put aside things you don't need etc. You don't have to sell straight away; get a plan of action first. Having a declutter though will feel good, whereas looking for best value items to sell makes you sad.

We gave away all our unwanted stuff to charity shops. Don't miss it at all. It's lovely to have the space back and to get rid of things that have held me back mentally.

StuntmanBob

unixgirluk wrote: »

Only trying to help sorry if I offended you.

No offence taken! Sorry if it sounded as if it was. I was just whining.

Thanks for comments so far. A few points, but please be assured that I'm not trying to knock anyone's suggestions. I welcome all comments and suggestions, even if rude!

Yes, Gas & Elec are high, but I'm in rented accom and not allowed to switch.
Internet and phones are high - I work from home and need "professional" level of services. I think I could get rid of my home phone though and use the business line.

Groceries feed me, and my 2 kids 4 days per month. I had a look at the "old style" board or whatever it's called. I 'm simply amazed that people can eat so cheaply. I don't dine on caviar, but I must be doing something very wrong. I'll have to look into that in more detail.

The medical costs are not every month, but an average over the last 2 years. There are no NHS dentists where I live, so £25 per month is dental insurance. I have one prescription per month. Other costs are optician, glasses, some physio I had recently, etc, pro-rated.

I cancelled one life insurance policy yesterday. I daren't cancel the other until my children are older.

Presents are pro-rated over the last two years. I overspend on my kids to spoil them because their mum doesn't spend very much on them. Over compensating is probably the right word.

Holiday also pro-rated based on last two years. Usually just a few days away on a city break with my lovely GF, and some summer days out with the kids.

Entertainment is cinema, dining out, lottery etc. This has to stop. Cash spending is cigarettes and far far too many jaunts to the pub. Plus some ad-hoc stuff like sweets, burgers for the children, an occasional sandwich at lunchtime. I have one cigarette left now. It'll have to be my last one ever. Time I faced that demon once and for all.

My car is an old crock which costs money to keep on the road. I figure it's cheaper to keep it and spend the money on fixing it than to get something better which I can't afford and who knows what could go wrong with a different car.

I'm amazed at the fuel costs myself - I had no idea. Some is work-related and I get it back. Most though is running my kids all over the county. Their mum doesn't drive, so I get to be taxi.

I knocked my sky tv down to the minimum yesterday (now £18) and next time I see the kids I'll explain that it has to go altogether.

Phew.

angelflower_2

StuntmanBob wrote: »

But I love my DVDs ... all bought for £5-£15 and now worth £1 each if that. What a waste. I have to have something to hang on to. In my position you could well say that it's too late for that. But I have to hang to something. About the only thing I've achieved in the last few years is building my DVD collection.

This probably sounds like the stupidist thing you ever read.

I would say its not stupid however, I disagree with some of the other comments.

Ask yourself this.....what purpose does the dvd collection hold.
How many of the collection do you watch regularly or lend to people (in otherworks is it useful)
Is the desire to continue building the collection still there and therefore will you want to spend more money on it?

I found myself in this situation. I got rid of them all for whatever I could get. Some were £1 - some £7/8. Did i regret it? On some of the films yeah, i wished i still had them and honestly on some of them I did buy them again. On others, I realised I hadnt even taken the packaging off!!

There has been the temptation to fill the spaces again on the shelves but I remember what I spend on them and what I got back and I do think twice. My rule now is I will not spend more than £5 on a dvd and not normally more than £3.

Just another way of looking at it perhaps??

StuntmanBob

angelflower wrote: »

How many of the collection do you watch regularly or lend to people (in otherworks is it useful)
Is the desire to continue building the collection still there and therefore will you want to spend more money on it?

The desire to build the collection further is gone. I've decided I'm going to sell some of the "watched once, never again" boxsets. Off to Amazon to list them now in fact.