Major Debt Problem

southernscouser

Conor wrote:

Yes I have - enough to end up going through bankruptcy. Having spent my entire childhood being brought up in conditions where the bread line was something we hoped we'd reach, I know all about being skint and eating egg and chips because you can't afford anything else, trying to live on £22 a fortnight and everyone sleeping in the same room in winter because we couldn't afford to heat the house.

I've done real poverty, living hand to mouth or worse and not just the 2005/6 version of poverty which is when you can't afford a mobile or Sky TV.

Was it you personally who was made bankcrupt or your parents?

I'm not having a pop mate but your first post was a bit blunt and in my opinion not thought through without knowing the situation!

But hey thats just my opinion!

Conor_3

southernscouser wrote:

Was it you personally who was made bankcrupt or your parents?

Me. 2001. Sadly solely due to illness. Been debt free since.

southernscouser wrote:

But hey thats just my opinion!

S'Ok. Free country and all that.

severussnape

conor we are sorry to hear you had to go bankrupt through ill health, it was probably the last thing you needed.

anyway finally posting our soa we know there is a lot of room to cut back.


INCOME

Wages £2700
CB& child tax credits £201.28

total £2901.28

some months there may be more as training days are available

OUTGOINGS

Mort 784.51
CT 86
TV Licence 11
Water 23
SKY 18
gas&electric 45
car tax 11.25
car ins 33.50
petrol/servicing 100.00
food/clothes/school lunches/haircuts etc 660
build/con ins 33.25
life ins 32.67
phone 30.00
mobile 10.00
mort ins 23.98

What we owe

c/c 11,988.41
c/c 10,838.47
c/c 6365.10
loan 17,185.00
loan approx 32,000.00
loan 1608.88
loan 1690.92
car 4999.92

it is quite large the two last loans we thought were hp but aren't. :eek:

Conor_3

How much of the petrol/servicing is servicing? How old is the car? Do you have it serviced at a dealership?

"food/clothes/school lunches/haircuts etc 660". That's quite high. Can the kids have a packed lunch? Do you have a college nearby doing hairdressing courses where you can go as a model and get a very cheap haircut? Do you REALLY need to buy clothes every month?

Is the home and contents insurance in addition to one provided with the mortgage or instead of the one provided with the mortgage?

severussnape

i am a hairdresser and i certainly would not go to my local college for my hair done. Payplan alloted us the 660 for all that as we have 3 boys who are growing at an alarming rate so some type of clothing has to be replaced once a month.

the car is only a year old but servicing from ford costs 120 at our local dealership thats not to mention if it actually needs something ie tyres so that is why it is so high we just don't want to be caught out on something like that.

the mortgage insurance is the one we arranged not an additional one to the lender that was scandalous and my oh found one much cheaper

Penny-Pincher!!

Hi

Cant offer much advice but just wanted to say that I am sure it will work out for you and well done on posting:D

pp
xx

severussnape

thanks pp

the thing about this site is that practically everyone knows what you are going through.

you lot who read this are the only people i have sort of talked to about it

i know i'm going to have to off load onto one of my very good friends but at least on here no one judges you which is probably what they will do regardless( not meaning to but they won't be able to help it).

bank_of_slate

Well done severussnape for tackling your situation!

I know what you mean about boy's clothes, sometimes I think that they eat them at school when they've nothing better to do!! (when they're not sliding on their knees)

Have you shopped around for cheaper home & contents insurance? I got mine down from £38 per month to £26 per month!
You right about not being judged on here, you'll get lots of advice and support!

With the food shopping, do you 'meal plan'? that does help to bring the cost down as you plan what to put on the list.
keep posting, hunny!
...Linda xx

severussnape

linda

having read lots of your posts on other threads all i can say is that you are a lovely person

i do try to meal plan and always make a shopping list trying not to deviate too much, we don't go shopping with the kids cos that would be a nightmare.

the one thing that is stopping me sleeping is we have a court case coming up against our next door and our solicitor. our new solicitor has told us we have a watertight case and are claiming costs against both of them. what if it all goes wrong. if we got landed with costs we would have to go bankrupt

i know lots of people on the site have but i would rather pay everything back.

if everything goes alright though we could end up with a bit of compensation to put towards our debts.

Conor_3

severussnape wrote:

i am a hairdresser and i certainly would not go to my local college for my hair done.

Hang on...

You're a hairdresser and you pay what must be a significant amount to get haircuts for the family? My missus is a hairdresser and she won't trust anyone but herself to do all ours. Most tradespeople are the same...mechanics won;t let anyone but themselves service their own car for example.