Please Help Me Please Frightened

hypno06

There WILL be a way out of this - it may not seem like it but trust me, there IS a way through.

I would suggest you speak to CCCS as soon as you can. Alternatively, they have an on-line version on their site called "Debt Remedy" that you can do without having to pick up the phone right now.

CCCS are very very helpful, and even have their own thread on this board if you have any questions for them. Whatever your situation, they will talk you through the options, and start giving you control of your debts again.

In the meantime, grab a piece of paper and write down as much as you can - for example, the road tax in your SOA says £300 a month -this is obviously £300 a year - look though and see if there are other things like this that you have missed, and you will see those numbers making a bit more sense to you.

Believe me, it can be bleak being in this situation - I had over £100,000 debt on top of a mortgage of £175,000 and thought that there was nothing I could do except go under. With the help of this site, though, and the fab people that post here, I now owe just over £40,000 which is a huge huge difference - see, it CAN be done. There are many others like me who have gotten control back and feel so much better.

So stick around, and keep posting xx

dizzy_lizzie

hectorcarol wrote: »

Will check it again tomorrow

There will never be a way out of this

Thank you all so much
XXX

Yes there will and you've found it. You've taken a huge huge step into sorting it out. It's the beginning of your debt free journey. Tiny steps may not seem like much when you feel like you're up to your eyes in the proverbial but there is light at the end of the tunnel. Yes that's a cliche but it's true. You've had your 'lightbulb' moment and from now on view everyday as a challenge to become debt free. This forum is simply amazing as you probably know. Don't be afraid or ashamed to come on here and vent all you like. It will do you good to share the good stuff and the...not so good.
Now you've posted, keep posting. Think of ways you can earn some extra money, ebay, mystery shopping, survey sites etc. They will all bring in that little extra which could make a big difference.
Sorry for the ramble but just want to say well done, and even though it may not seem it now, you're on your way to a better life.
Hugs Dizzy x

savingholmes

hectorcarol wrote: »

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1250
Partners monthly income after tax....... 546
Benefits................................ 119
Other income............................ 0
Total monthly income.................... 1915

Monthly Expense Details
Mortgage................................ 345
Secured loan repayments................. 0
Rent.................................... 249 why both?
Management charge (leasehold property).. 0
Council tax............................. 106
Electricity............................. 63
Gas..................................... 35
Oil..................................... 0
Water rates............................. 37 this is high would a meter be cheaper?
Telephone (land line)................... 58 Change to something like talk talk thro a cashback site like quidco (could get up ot £50)- our bill dropped to £17 per month from £28 phone and 18 internet.
Mobile phone............................ 0
TV Licence.............................. 10 closer to £12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 380 should be able to get this down - use mysupermarket.com to help you price things and downshift brands - you can then print off the list and use it when shopping. Even on £70 bill - Asda cheaper on my items than Tesco by £20
Clothing................................ 20 Stop for now? Try freecycle, primark, matalan
Petrol/diesel........................... 240 Ouch - is it possible to car share? reduce travel?
Road tax................................ 300
Car Insurance........................... 35
Car maintenance (including MOT)......... 0 really?
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..................... 10
Contents insurance...................... 23 I was paying £54 rang my provider and got it down to £24 for buildings and content... worth a try. If changing do so via a cash back site
Life assurance ......................... 18
Other insurance......................... 35
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1964

Assets
Cash.................................... 0
House value (Gross)..................... 65000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 68000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(345)......0 How big is your mortgage
Total secured debts........... 0.........-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Personal Loan..................29000.....384.......0
Natwest credit card............10000.....224.......0
Tesco credit card..............4000......124.......0
Argos..........................900.......24........0
Lloyds.........................650.......13........0
M&S............................5500......140.......0
Egg............................2000......96........0
Total unsecured debts..........52050.....1005......-
Do you know your aprs? Suggest you find out and then use the snowball calculator to try and work out what to pay back first...
Monthly Budget Summary
Total monthly income.................... 1,915
Expenses (including secured debts)....... 1,964
Available for debt repayments........... -49
Monthly UNsecured debt repayments....... 1,005
Surplus(deficit if negative)............ -1,054

Personal Balance Sheet Summary
Total assets (things you own)........... 68,000
Total Secured debt...................... -0
Total Unsecured debt.................... -52,050
Net Assets.............................. 15,950

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

======== Enter any other useful information below ========

e.g. the number of adults & children in the household, the number

HI - you have been very brave in posting. :A There are people on here with debts as big or bigger... Some of us have previously hidden it in our mortgages:o

With hard work I think you could save about £250 on your SOA - realistically however unless all your debt is at 0% I think you are going to need professional help from CCCS or similar. You do need to get your OH on board.

You also need to understand that if you do go on a dmp, for dmp purposes you would need to keep a little bit of fat in the figures... as you would have no recourse to credit to cover emergencies...

Look at the special occasions and freebies board for ideas on a no/low cost xmas...

Look at the £10 a day challenge for ideas on how to increase your income... Is there any way that one or both of you could get a second job? Do you have any saleable assets from your spending?
hth keep your chin up - we're here for support

milliemonster

hectorcarol wrote: »

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1250
Partners monthly income after tax....... 546
Benefits................................ 119
Other income............................ 0
Total monthly income.................... 1915

Monthly Expense Details
Mortgage................................ 345
Secured loan repayments................. 0
Rent.................................... 249 mortgage and rent?? is this a shared equity scheme?
Management charge (leasehold property).. 0
Council tax............................. 106
Electricity............................. 63
Gas..................................... 35
Oil..................................... 0
Water rates............................. 37
Telephone (land line)................... 58 this is a lot each month
Mobile phone............................ 0
TV Licence.............................. 10
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 380 how many is this for? just the 3 of you? if so this could easily be halved
Clothing................................ 20
Petrol/diesel........................... 240
Road tax................................ 300 is this a mistake???
Car Insurance........................... 35
Car maintenance (including MOT)......... 0
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..................... 10
Contents insurance...................... 23
Life assurance ......................... 18
Other insurance......................... 35 what is this for?
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1964

Assets
Cash.................................... 0
House value (Gross)..................... 65000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 68000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(345)......0
Total secured debts........... 0.........-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Personal Loan..................29000.....384.......0
Natwest credit card............10000.....224.......0
Tesco credit card..............4000......124.......0
Argos..........................900.......24........0
Lloyds.........................650.......13........0
M&S............................5500......140.......0
Egg............................2000......96........0
Total unsecured debts..........52050.....1005......-

Monthly Budget Summary
Total monthly income.................... 1,915
Expenses (including secured debts)....... 1,964
Available for debt repayments........... -49
Monthly UNsecured debt repayments....... 1,005
Surplus(deficit if negative)............ -1,054

Personal Balance Sheet Summary
Total assets (things you own)........... 68,000
Total Secured debt...................... -0
Total Unsecured debt.................... -52,050
Net Assets.............................. 15,950

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

======== Enter any other useful information below ========

e.g. the number of adults & children in the household, the number

Hiya hun, I have added a few comments above, I think you made a mistake with the road tax at £300 a month!, this and reducing your groceries will put you back into a surplus to service your debt, your next step is to speak to CCCS, well done for getting this down, it gets easier from now on hun, honest xx

In_Search_Of_Me

Being one of the huggy types a hug for you first! I have never posted my soa and to be honest never will as I think its too much personal info for such a public place! Having said that people can help see where you can cut down and as ypno has said even when it feels bleak, as I know it does now, you can get out of it. CCCS are great and when I rang they scared me into action without the need for a dmp but there is no shame in it if thats what needed although you d need to check how it will affect employment in certain areas - ie accountancy if thats relevant.
Whats importat is the sorting and seeing whats what and taking control of your money - rathe than controlling you.There are thousands of people who have been through this and its a life changing site so please dont feel youre alone in this because youre not.
If you can tell you other half and sit down togeather and work through it. Many people have been in the same situation you are and have grow stronger as a result once the initial shock has passed.
Finally there is always a solution...its just finding the right one for you!
Hang in there...

pandaperson

Hello hectorcarol I'm not on here very often, like you a bit scared to reveal all, but the more you see whats going on in words and numbers the more you can take control.

There are many ways to earn more money and reduce the interest rates on what you have already borrowed.

My partner had no idea of the extent of our debt....he was the biggest spender...they need to know.

spora

Hello

I have never experienced debt so i cant even beging to imgain what you are going through. Please please tell your husband. If he loves you (which i sure he does )he will understand why you kept this from him and help you.

I hate to think you are going through this alone. I really think it will help you feel better telling him because you wont be lying or keeping secrets from him and im sure he will support you

hectorcarol

Just told my Husband

After all the positive replies...........
He sounds OK but we will see

Thanx so much to all of u

XXX

SazM030306

WELL DONE!!!!! That is the biggest first step telling your husband. It will be a massive shock for him I'm sure but once he has his head round it and knows there's a way out (show him this board ) he will be on your side without a doubt.
I'm so proud of you
Saz x

Geenie

hectorcarol wrote: »

Just told my Husband

After all the positive replies...........
He sounds OK but we will see

Thanx so much to all of u

XXX

Why is your husbands income so low hectorcarol, as there seems to be a great burden on you to provide for the family?