Positive News At Last

Teterow

Hi there,

I am in a horrible siuation.

Bought a flat in 2007 had a good job, was then made redundant in Apr 2008 but found a better paidjob quite quickly. Partner as been studying for an MSCfor a year in order to better his job prospects.
In Sep 08 I walked out of my job, cause I was doing 4 peoples job, couldnt cope with the pressure anymore and felt really ill, every time I stepped into that office. Company had started discipliniary procedures...

Partner got a part time job, which covered his DMP. Since Sep I have been working freelance and we just about managed. We are not going out and have cut back to the basics.

Partner got laid off before Xmas, next DMP is due and he hasnt got the money. Trying to rent out spare room, but yesterday a propective tenant had agreed to take the room, then cancelled this morning. Another kick in the teeth. Partner finally applied for JSA and just had his interview. Our morals have hit rock bottom.

Will be looking for an additional evening or weekend job, but living in Wales does mean fewer job.

Sometimes, I just want to end it all.....

worried_jim

Hello Teterow. Welcome. Please don't despair, call the dmp people to explain the situation to see what advice they can offer. Sit down with a sweet tea and a pen and a pen and paper, it will get better.

Ames

Firstly your partner needs to contact his dmp provider, they can reduce the amount while he looks for work. Is he with a free provider, such as payplan cccs or cab? If not he needs to change.

Debt is not worth ending it all for. I've taken overdoses in the past because of money troubles, it's really not worth it.

Why don't you put up a statement of affairs so that people can see where you're at and give better advice. There's a link to a template here http://www.makesenseofcards.com/soacalc.html

worried_jim

You can sit down with just one pen !

Teterow

OK - it seem the worries never end. Wil tell partner to contact DMP as soon as he is back. Will put a statement of affairs together to get a clearer picture...

determinedtodothis

Cool what line of work are you in? my friend is in the same position she got herself a job in Tesco's as something better than nothing and she does shifts and fits interviews around that

MrsTinks

Just wanted to add to what Ames and Jim have said - It's only money.
And there is no Debt problem that we can't find a solution to It honestly is not the end of everything - what's the worst they can do? They can't get blood from a stone at the end of the day - if you don't have the money you don't have the money
Post your SOAs and we'll have a look for you

Teterow

Thank you Mrs Tine, you are right, but I have never been in a position like this before.

I am going to post my SOA at lunchtime, as I am taking my working from home job very seriously. I do hope the company I currently organise conferences for, will employ me for a little bit longer and not only until the end of Feb.

Thanks for your support....it does help...and yes, things dont make me happy anymore its the people....

chevalier

other than to offer moral support, i am not sure what to say. i hope that the talk your OH DMP provider helps set your mind at ease. is there anything you can ebay that could get the money to them so that you aren't too far behind?
chev

Teterow

No not much to ebay I am afraid. I am not too worried about my partners DMP. As cruel a it sounds. But it his his debt, not mine....I need to make sure I pay the mortgage, etc and all that without a permanent job.

Teterow

Statement of Affairs & Personal Balance Sheet

Summary

Monthly Budget SummaryAmount(£)
Total monthly income2,242
Monthly expenses (incl. HP & secured loans)1,841.8
Available for debt repayments 400.2
UNsecured debt repayments 160
Amount left after debt repayments240.2

Personal Balance Sheet SummaryAmount(£)Total Assets (things you own)120,843
Total Secured & HP Debt-125,000
Total Unsecured Debt-5,831.6
Net Assets-9,988.6
Household Information

Number of adults in household2
Number of children in household
Number of cars owned1
Income, Expense, Debt & Asset Details

IncomeAmount(£)
Monthly income after tax 2000
Partners monthly income0Benefits 242
Other income0Total monthly income 2242

ExpensesAmount(£)
Mortgage 808.65
Secured loan payments 300
Hire Purchase (HP) payments0
Rent0Management charge (leasehold property)0
Council tax102
Electricity25
Gas24
Oil0
Water Rates25
Telephone (land line)10
Mobile phone10
TV Licence11.95
Satellite/Cable TV0
Internet services15.5
Groceries etc.120
Clothing0
Petrol/diesel20
Road tax0
Car Insurance0
Car maintenance (including MOT)10
Car Parking0Other travel 50
Childcare/nursery0
Other child related expenses0Medical (prescriptions, dentists, opticians etc.)0Pet Insurance/Vet bills0
Buildings Insurance0
Contents Insurance 6.7
Life Assurance 0
Other Insurance 0Presents (birthday, christmas etc. bought already
Haircuts10
Entertainment50
Holiday0
Emergency Fund243
Total monthly expenses1841.8

Secured & HP Debt DescriptionDebt(£)Monthly(£)APR(%)M
Mortgage(808.65) 5.73
Secured Debt0(300)0Secured & HP Debt totals125000- -

Unsecured Debt DescriptionDebt(£)Monthly(£)APR(%)Barclaycard 4223.41000First Direct1608.26016.9Unsecured Debt totals5831.6160-

Asset DescriptionValue (£)Cash243House Value (Gross)120000Shares and bonds0Car(s)600Other assets (e.g. endowments, jewellery etc) 0Total Assets120843
Comments on the results
You have sufficient monthly income to meet your expenses and your minimum monthly debt repayments with £240.2 left over. You can use this to pay off your debts more quickly or to build/top-up an emergency fund. Your total secured debt is greater than the value of your house. Is this correct? Whatever your results show, it always pays to seek advice or comments from others. Why not post your SOA details on our Debt Management discussion board or on your preferred discussion forum elsewhere. Thankyou for using the SOA Calculator at www.makesenseofcards.com.