Holy Sh**t!!

roseredskye

Have just woke up and smelled the coffee. I have just worked out that my husband and i owe £40,720 :eek:. This is bad.

Per month we bring in £2224.78 in wages. Our outgoings total £2,308.57. We actually have a deficit of £83.79 . This is also bad.

Our outgoings per month are as follows;

Household Bills

Food Shopping and pet food- £200
Mortgage- £448
Secured loan- £264
Life ins and building incl- £27.43
Council tax- 104.00
Gas and Elec combined- £100.00
AOL- 12.00
B.T- £13.50
Car HP- £106.53
Car Ins- £28.00
Petrol- £110.00
Bus tickets- £40
Mobile phone contract- £40
02 top up - £20
TOTAL £1513.46

OTHER MONTHLY PAYMENT

Student Loan £76.34
Halifax overdraft (interest only) £50
Edge Card £35
Next Catalogue £15
Northern Rock Loan £281.00
Egg Card- £15
Goldfish £15
Halifax visa £15
Open University- £78.35
Credit Union loan £110
RBS Loan £113
RBS current account overdraft (interest only) £25
Student Loan no 2 £20
RBS overdraft (to help pay off) £12
TOTAL £795.11



How do i get out of this mess???????????? Feel so stupid and irresponsible for getting into this mess n 1st place. It's certainly not the way i wanted to start married life. It's our 1 year anniversary next month and at this rate we'll not even be able to afford a card for each other!

Carrie x

LilacPixie

its our anniversary next month too. also 1 year. good thing is its the 'paper' anniversary so you can get a really thoughtful pressie for not alot if you really think hard.

I think you should contact CCCs/national debt line for some professional help. Make sure you pay the mortgage council tax and secured loans no matter what and then tackle the rest.

Is the any scope for one of both of you either doing overtime or taking a second job?? Old clutter you could ebay or car boot??

falken

Hi

I agree, contact CCCS, we are just starting a plan with them and so far I have nothing but praise! They work out an affordable monthly repayment plan with you and contact everyone for you on your behalf. There is about a 3 week waiting list but its worth the wait.

Look for other ways to raise cash too like in last post ebay, carboots, hobbies you could raise cash with, etc.

Good Luck

Falken

RAS

Hi

This may be doable, but you need to get a bit more inforation first.

With respect to each loan, what is the actual current value (remaining debt), what is the APR and how many payments are left and can you repay any early or are their redemption penalties?. Ditto on the HP.

With respect to each card, what is the actual current value (remaining debt) and maximum limit, what is the APR and what is the minumum payment.

Do you have PPI or penaly charges on any of these loans and cards? if so, you nmay be able to reclaim them.

Can you e-bay, car-boot or amazon anything to start reducing your debts. Which one you pay off first is really important, but we need to know the information above.

I suspect that there are other things that you are buying that are just little bits, so you both need to keep a spending diary for a few weeks. That will help you identify the latte habits , those little spends that tot up to a few hundred quid a year and can make a lot of difference.

roseredskye

not sure on the APR'S of cards and loans.I don't have arrears on anything at moment. Will check this out and post back. Don't think i've got stuff to sell to be honest. I'm going to phone for advice tomorrow, because i need to take action asap.

xx

rayday2

I always find selling things only helps for one month, only so much you can sell!

Definately either ring a debt charity or check out the natonal debtline, payplan or the CCCS website if you don't feel up to ringing.

There is a big DMP support thread buzzing around full of people who have taken advice from the above and had that sickening feeling you have now.

Take care and let us know what they say.