need help can't sleep

Easterbunny

Hi and well done for posting - I dont post very often but happened to be on and read yours and it struck a cord with me... I have suffered with depression about my money situation too and have felt so desparate sometimes and although I am no expert I have put a few suggestions to maybe start with / motivate you that have helped me through so far. Try not to look too far ahead and deal with it a day at a time:rolleyes: . I am sure the rest of the gang will be along real soon to give some sound expert advice:T :T :T .
In the meantime, good luck - chin up - you're not alone I promise. Take care. Easterbunny x



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Statement of Affairs and Personal Balance Sheet



Monthly Income Details

Monthly income after tax................ 1200

Partners monthly income after tax....... 0

Benefits................................ 0

Other income............................ 0

Total monthly income.................... 1200



Monthly Expense Details

Mortgage................................ 500

Secured loan repayments................. 0

Rent.................................... 0

Management charge (leasehold property).. 0

Council tax............................. 69 - I am sure you have single occpancy reduction but will they let you pay over 10 mths or is this already?

Electricity............................. 25 - have you checked if this best deal on comparison sites?

Gas..................................... 40 - same again as above.

Oil..................................... 0

Water rates............................. 15

Telephone (land line)................... 35 - can you switch to reduce this -do comparison and then go through cashback site like quidco to get even more pennies!

Mobile phone............................ 20 - Can you reduce / PAYG?

TV Licence.............................. 11

Satellite/Cable TV...................... 0

Internet Services....................... 5

Groceries etc. ......................... 148 - have a look on Old Style Board - you could probably halve this if it is just for you.

Clothing................................ 10 - can you do without this for a while?

Petrol/diesel........................... 100

Road tax................................ 12

Car Insurance........................... 40 - is this the best deal - go to Quidco and maybe get cashback for switching?

Car maintenance (including MOT)......... 10

Car parking............................. 0

Other travel............................ 0

Childcare/nursery....................... 0

Other child related expenses............ 0

Medical (prescriptions, dentist etc).... 0

Pet insurance/vet bills................. 0

Buildings insurance..................... 16 - Can you get this cheaper - we have both buliding and contents for £12.42 a mo with one of the big insurers - check quidco and get cashback if can.

Contents insurance...................... 16 - same as above.

Life assurance ......................... 15 - again check this is cheapest deal for you.

Other insurance......................... 0

Presents (birthday, christmas etc)...... 0 - do you need to put anything here?

Haircuts................................ 10 - Check out student days, etc or grow it!

Entertainment........................... 10 - could you do without this?

Holiday................................. 0

Emergency fund.......................... 10 - this needs to be ploughed into your current situation - deal with it if and when it happens for the time being.

Total monthly expenses.................. 0



Assets

Cash.................................... 0

House value (Gross)..................... 95000

Shares and bonds........................ 0

Car(s).................................. 1000

Other assets............................ 0

Total Assets............................ 96000



No Secured Debt



Unsecured Debts

Description....................Debt......Monthly.. .APR

RBS loan.......................1800......48........0

abbey overdraft................1000......0.........4

halifax overdraft..............700.......0.........4

capital one....................1300......30........29

RBS............................600.......7........ .26

halifax........................1500......20....... .26

abbey..........................600.......10....... .23

monument.......................1900......20....... .19

Total unsecured debts..........9400......135.......-



Monthly Budget Summary

Total monthly income.................... 0

Expenses (including secured debts)....... 0

Available for debt repayments........... 0

Monthly UNsecured debt repayments....... 135

Surplus(deficit if negative)............ -135



Personal Balance Sheet Summary

Total assets (things you own)........... 0

Total Secured debt...................... -0

Total Unsecured debt.................... -9,400

Net Assets.............................. -9,400

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not sure what the above means other than I am showing a deficit and have no monies left to pay any debts which is a big big worry and feel desperate

SunderlandBlackCat

dontknowwhattodo wrote: »

thanks for that - have gone onto the CCCS website and tried to fill in my details but I can't seem to go further when I add my debts in - will try again - the first time I did it they referred me to their phone line so will give it another try - it is nice to be able to talk about my debts as I have hidden them for to long and need to pick myself up - being on my own is so daunting

Then consider yourself invited to the "Single and in debt" thread at http://forums.moneysavingexpert.com/showthread.html?t=1051319

debtdesperado

Hey... if you're on your own, do you really need life assurance? Can't remember if you have any children but if anything happened to you I don't think that your debts after the sale of your house would pass to them or to your parents (maybe someone can correct me if I'm wrong?).

I'm single and I don't have life assurance for that reason...

Hope you're feeling a bit better about things

Deep_In_Debt

Actually, I don't have life assurance either.

Also, I live on half that amount of groceries each month and I have 2 cats as well. I've started shopping in Lidl and I've already saved loads!

Good luck.

dontknowwhattodo_3

many many thanks for all your support at least I don't feel on my own now - I have checked that various sites out and went onto the CCCS and did a Debt Remedy and they came back saying I need to look at my outgoings and see if I could earn more money as more money is going out than what I have coming in - mainly due to paying my credit cards off when they ring me and pressurise me into paying more than I can afford so will go back on that site and see what the minimum amounts are that I can pay but they keep adding interest on which is making the debts higher - I am also worried about having to remortgage my house next year as I had it fixed for 2 years and I don't think I am going to be able to remortgage if I get bad debts set against me!!!!!!!!

I have tried everything to try and keep the house but it is now in negative equity and couldn't even sell it to pay what I owe so any advice is welcome and I really do appreciate all your kind replies.

Hopefully with all your help and support I may see the light at the end of the tunnel!!!!!!

Thanks again


ps with regards to the life insurance no I don't have any children so could cancel that

debtdesperado

Also, don't worry about negative equity - it's only a problem if you need to move house. You'll always need somewhere to live so selling your house is not really an option to pay off your debts.

I know it's hard but also try not to tie yourself up in knots about the remortgage (I'm in exactly the same position as you with regards to an end of a fixed mortgage deal next year) - think baby steps and focus on the most immediate problems. Otherwise you'll drive yourself mad!

Hope you sleep a bit better tonight.

Prudent

I think it would be possible for you to make quite a saving on your buildings and contents. I pay £170 a year for a 3 bed semi for both.

I also agree that the groceries bill could come down. I spend around £110/120 per month for two people and cats. My bill is for all groceries and toiletries. The old style board is great

If you could half the house ins policies, cut life insurance and half the food you could have over £100 extra a month.

dontknowwhattodo_3

that is true - one baby step at a time but I must admit after putting my story on here - life seems a bit more acceptable and it is nice to know I am not on my own

dontknowwhattodo_3

that sounds good - yes I could down on my grocery bill and I will definetely check out house insurance because it is only a two up and two down so it does sound a bit steep - will also check out the gas and electric sites although I didn't think mine was that high but maybe I could still save money - I am not in the house that much as I am out at work most of the time and only switch the heating on if and when it goes very very cold

Verbatim

Welcome to the board. Hope you sleep well tonight as there's nothing worse than not sleeping night after night. I'm sure you'll feel more in control now you're tackling the situation head on.

I agree that you can probably cut the grocery spends down by quite a bit, especially if you can plan your meals in advance based on what you have in the freezer and cupboard now and only buying what's essential for the planned meals.

Also as cars are horrendously expensive to run and maintain would it be possible to manage without one until things are looking up?