Can't sleep..

ajaney

I'm just about to go offline but don't want to run.

If i were in your shoes, I would give CCCS a call & get a second opinion. please dont go with one of these fee charging companies like churchwood.

If byou think getting at your money might be a problem, set up a basic account with an unconnected bank & have your money go into there for now, transferring what you can for bill payment.

Stick around Shoozles, there will be more help coming soon, sorry i can't stick around

scaredy_cat

Don't go to a Debt Management company. Call National Debt Line http://www.nationaldebtline.co.uk/ or CCCS http://www.cccs.co.uk/ as someone else has said.

Explain that Payplan refused you and go thought the budget sheet with them.

Debt_Free_Chick

Shoozles

I need to be blunt, because your situation is desperate.

Ignoring your debts, your bills are £400 a month more than your income. Even if you ignore your partner's income as he's paying the rent, you are still £400 a month short.

Let me make this point again - YOU ARE £400 A MONTH SHORT, WITHOUT PAYING A PENNY OFF YOUR DEBTS.

Effectively, you are bankrupt. Unless you can find at least another £400 a month, you can't even live, let alone pay £1 to each of your creditors.

Think about it .... your joint income is £1,000 ...... of that £700 goes in rent and another (nearly) £100 in council tax. And you've not put a light on or had anything to eat or drink yet.

You don't have enough income.

If you want to avoid declaring bankruptcy, you need to ditch your business and get a job. And your partner probably needs to get an additional job too.

Other than that, you should look at bankruptcy. But that will only deal with your debts. If you don't address your income, you'll simply run up more debts.

Can you rent another place for less? Even if you do, YOU STILL NEED MORE INCOME!

This is going to sound like "I told you so" and I really don't mean it, but ....... I did warn you that Payplan will want at least £1 a month surplus income, after your normal living expenses, before they help with a payment plan. You simply don't have enough money to buy food, let alone pay your debts.

Did Payplan not mention bankruptcy?

Sorry but you need a wake-up call, tough love or a simple slap

Debt_Free_Chick

I know others are genuinely being helpful by suggesting National Debtline & CCCS, but you don't earn enough "to live". The debts are the least of your problems ..... if the debts don't get paid, let them make you bankrupt. At least that way, your creditors pay the Court fee.

In fact .... now I think about it ..... call National Debtline and CCCS. Let us know what they say.

Shoozles

I'm punishing myself enough, I appreciate your help I really do but don't think that I'm not giving myself a slap and not aware of my situation because I really am.

Shoozles

They are goig to tell me to go bankrupt aren;t they

scaredy_cat

The only other solution is to put your business on hold for a while and get afull time job which pays at least £800 pm.

Shoozles

Ok, thank you. Just one more question then I'm off to the job centre.
I need to open a new bank account. When the bank ask why I am opening a new account what do I say?!

dumpy

Hi Shoozles

Another one here checking in to say that I was with a completely incompatible partner when it came to money. I work two jobs and one of them has three seperate contracts so that I could pay all the bills. It was one day in summer of 2007 when I was working again over the weekend and he went out to play golf and then to sunbathe that the light went on and I thought "what am I doing? Why am I working all the hours so that someone else can have a great time?"

We have now split up and I am actually better off. It was sad because it could have been so good, but we were just so incompatible when it came to money. I like bills with paid written on them, he couldn't see that not paying them was a problem....

You mentioned in an earlier post that a friend had offered you a place to store stuff and you could live at home? What does you SOA look like if you move back, although you'd need to pay board to your parents it'd be less than you are paying at the moment? You may be able to work with payplan then?

If he is the one for you, then moving out may be the wake up call he needs and he will do something about it in order to keep you. But there is no reason why you cannot watch from a safe difference whilst he does this.

Good luck

GeorgeUK

Hi Shoozles

If you are only getting £400pm as an average income from your business, then i'm afraid this isn't sustainable. You may be able to come back to it at a later date, but as a business this isn't working. Is the £400 after tax or do you still need to deduct from this?

I'm afraid the only thing you can do is seek employment either in your previous field or in whatever field your new business is in. If you work out what you are getting per hour, you will see you are getting less that minimum wage. For the amount of work and effort you put in you should be getting more than this.

It may be worth going to a bank's small business advisor to see what they say - you may still be able to do this as a hobby, but please try to take a step back from this. You may find a more hospitable working environment than you were in before which won't make you ill.

Opening a seperate bank account with a bank you have no debts owed to is the first thing you should do though.

good luck