Can't find a way out

barrys-lass

you really need to contact one of the debt councilling services for some much needed advice. it is a big step but once you make the initial contact and get some advice you will start to see a glimmer of light at the end of the tunnel. It may take a while to get things sorted but we are here for you every step of the way. Try not to despair but get yourself along to the doctor, even if it is to get some stuff of your chest. (mine was great for this) you do need help hun not just with your money worries but for you too.

I have subscribed to your thread so i can keep up to date with what is going on. Feel free to send me a personal message even if it is just for a rant, of post a rant up here.

Please note that help is available for you!!!!!!

maddiem

Statement of Affairs and Personal Balance Sheet
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1900
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1900
Monthly Expense Details
Mortgage................................ 1050
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 27
Gas..................................... 21
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 15
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 35
Internet Services....................... 0
Groceries etc. ......................... 120
Clothing................................ 10
Petrol/diesel........................... 35
Road tax................................ 15
Car Insurance........................... 41
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 17
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 0
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Funeral costs........................... 72
Total monthly expenses.................. 1658

Assets
Cash.................................... 0
House value (Gross)..................... 140000
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 141000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 130659...(1050).....0
Total secured & HP debts...... 130659....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
A&L Loan.......................9848......30........0
Capital One....................2051......20........0
Citi Cards.....................1164......25........0
uncle Buck.....................400.......94........0
Wonga..........................499.......648.......0
Payday.........................550.......755.......0
Safeloans......................400.......487.......0
Vet............................700.......5.........0
Moorcroft (Egg)................3400......15........0
American Express...............3100......20........0
Shell Visa.....................552.......20........0
Moorcroft......................2400......20........0
Cahoot.........................900.......0.........0
Catalogue......................738.......55........0
Lowell.........................420.......13........0
Total unsecured debts..........27122.....2207......-

Monthly Budget Summary
Total monthly income.................... 1,900
Expenses (including HP & secured debts). 1,658
Available for debt repayments........... 242
Monthly UNsecured debt repayments....... 2,207
Amount short for making debt repayments. -1,965
Personal Balance Sheet Summary
Total assets (things you own)........... 141,000
Total HP & Secured debt................. -130,659
Total Unsecured debt.................... -27,122
Net Assets.............................. -16,781


This looks worse. I'm dead in the water. I can see this.

maddiem

I'm under Doctors care and I have contacted Payplan. Sorry to sound so depressive.

madmalteaser

maddiem wrote: »

This looks worse. I'm dead in the water. I can see this.

You really need to do what everyone says and get some professional help, both with your debts and your peace of mind. Get yourself to the doctor, talk to him about how you're feeling. I'm sure he'll be able to offer something that will help you start to deal with this.

Then get on the phone to cccs and talk to them. They will, from what I gather, be able to talk to your creditors on your behalf, which should also help you with the worry side of things.

Please don't think you're alone in this. You're not the first, you certainly won't be the last, but you're on the right track to getting this sorted, and we're all here for you when you need an ear to bend. :grouphug:

MyLastFiver

Not worse - just more accurate and complete now. But look at it this way - once the PD loans are gone things start looking much rosier.

If it were me, I would throw everything at the payday loans, and pay a token £1 to each of your other creditors, until these are paid off. Throw everything at it. Anything you can sell on Ebay? Can you take up some extra P/T work for a while?

Give this some serious thought - can you make do without a car for a while? I know I know - you'll say you need the car for work - but can you get there by bus/bike/train? Because the grand you get for the car will put a big dent in these payday loans.

And Barrys Lass is right - call CCCS or National Debtline and go through this SOA with them.

You use the phrase "dead in the water" but it's only a bit of money. In fact, it's only 2 grand that's stuffing you up. They can't put you in prison for it.

TotallyBroke

maddiem wrote: »

___Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1900
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1900
Monthly Expense Details
Mortgage................................ 1050 You need to just put the regular payment here. The amount of arrears and the money you pay needs to go into the secured debt section
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 95 I'm guessing you are claiming single person's discount. Ask them to spread this years over 12 months so you pay the same each month
Electricity............................. 27
Gas..................................... 21
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 15 This can be got cheaper BT is £10.50 pm if it includes calls then you should be spending nothing on your mobile
Mobile phone............................ 15 PAYG or contract
TV Licence.............................. 12
Satellite/Cable TV...................... 35 Reduce tv down to minimum
Internet Services....................... 0
Groceries etc. ......................... 120 You can shave some money on this by meal planning and only buying when needed
Clothing................................ 10 You'll have to stop this
Petrol/diesel........................... 35
Road tax................................ 15 You need to put this into a savings account each month so that you have it when it is needed and it's not spent beforehand
Car Insurance........................... 41 Ditto
Car maintenance (including MOT)......... 0 You need to put soemthing here for MOT and servicing and ditto above
Car parking............................. 0
Other travel............................ 40 What is this for?
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 17 This is high. Did you get this after the huge vet bill or before. If before why do you have a vet bill surely the insurance should've covered
Buildings insurance..................... 28 Does this include contents, shop around using cashback site for cheaper cover
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 0
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Funeral costs........................... 72 This should be in the debt section.
Total monthly expenses.................. 1686

Assets
Cash.................................... 0
House value (Gross)..................... 140000
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 141000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 130659...(1050).....0
Total secured & HP debts...... 130659....-.........- You need to add mortgage arrears in here
Unsecured Debts
Description....................Debt......Monthly...APR
A&L Loan.......................9848......30........0
Capital One....................2051......20........0
Citi Cards.....................1165......25........0
Barclaycard....................420.......13........0
Catalogue......................738.......0.........0
Cahoot Bank Account............900.......0.........0
Mastercard.....................2400......20........0
Shell Visa.....................552.......20........0
American Express...............3000......20........0
Egg Card.......................3400......15........0
Vet............................700.......5.........0
Total unsecured debts..........25174.....168.......- You need to add the payday loans etc into this

Monthly Budget Summary
Total monthly income.................... 1,900
Expenses (including HP & secured debts). 1,686
Available for debt repayments........... 214
Monthly UNsecured debt repayments....... 168
Amount left after debt repayments....... 46
Personal Balance Sheet Summary
Total assets (things you own)........... 141,000
Total HP & Secured debt................. -130,659
Total Unsecured debt.................... -25,174
Net Assets.............................. -14,833

________________________________________________________
This looks bad but in reality things are much worse.

The credit cards I have made the arrangement to pay those amounts monthly and have being do so for months now. Mastercard and Egg are paid to Moorcroft (I did everything to make this not happen but they wouldn't listen). Barclaycard is a very old debt from years ago which I am disputing from Lowell and have asked for copies of statements etc. Cahoot is a joint account I have with my partners and is -£800. I haven't paid anything into this as I have nothing. I asked them to stop charges but they won't so I end up with a minimum of £30 charges each month on this so that is adding up. My mortgage is on a fixed interest rate of 5.25% which was good at the time but now with interest rates so down I though they might budge but as I'm in arrears and put £125 towards this. Any advice on this one? Catalogue I have ignored and they are hounding me now, it was a way of getting clothes when I couldn't afford them. I had asked for restbite but they wouldn't hear of it and now I ignore it. I know I shouldn't but I can't help it. My council tax is £192 in arrears and they are now threatening. Car tax is due at end of month and so is MOT. I use the car once or twice a week but I do need it for work.

As I mentioned in my original post I am caught up with Payday loans so the are costing me a fortune. They are what cripple me but I can't see a way out.

Safeloans £400 (will be £487.00 when it comes out at end of month)
Payday £550 (will be £755.00)
Wonga £499 (will be £648.00)
Uncle Buck £400 (I am only paying the interest which is £94 p.m.)

I know this is crazy and it is going from bad to worse but I cannot get out of it. I don't know how. My circumstances and dreadful and no way out.

You really need to speak to someone at cccs and get some advise.
Just pay minimum or token £1 payments until you can speak to cccs or until you can work out where you can juggle money.

Write a list of all the food you have in your fridge, freezer and cupboards and work out what you can cook to eat. Look at how much petrol you have in the car and work out how many days that will last you.
Then look at the amount you have in the bank now. Write down what is going to come out in the next few weeks and see how short you are going to be when payday comes. Try not to get out anymore loans.

Sell everything you can to make some extra money, even if it just covers the car tax for 6 months. Be ruthless while sorting out things to sell.

Good luck I hope things get better for you soon.


When do your mortgage arrears get paid off? Did a court tell you to pay £125 each month. Go back to them and see if they will take a lower amount off you for a while. If they say no and want to take you to court don't be bullied by them. Just pay them the lower amount until it goes to court. (could take months) by then you may have paid off some of the payday loans. Pay off first the one that is costing you the most interest. If you paid a token payment of £1 to mortgage and other creditors you could be almost £300 better off. That will pay for 6months car tax and keep the car on the road. It will also give you spare cash so you do not need another loan.
Next month that £300 will almost pay off a loan and so on and so on.

maddiem

Yes I am taking everything on board. Payplan will call in next few hours. As far as my car goes it actually saves money. For the days I use it, twice a week minimum for work, I would have to take train at peak times and that is around £60 rtn. For the other days when I only need tube, I walk and tube it. I do put in OT.

Payday loans do take up everything but if I paid them off and didn't take them out again each month I have nothing to pay mortgage etc.

barrys-lass

you are definately not 'dead in the water' there is a lot of help out there. it takes a lot of motivtion and guts to actually get started with SOA but by posting it on here you are half way there. It means you are actually recognising you have problems with your money and paying token amounts will not get you into trouble. It seems like a millstone around you neck, but persevere and you will get there, i promise. Go on CCCS website if you dont feel like ringing them today, I know you mentioned payplan, but getting advice from all corners really does help.

epsilondraconis

Yes, please call CCCS or the National Debtline as these are free.

Okay things are not going well for you at the moment, but you need to stay positive. The more you worry about the debts, the worse it will appear to be to you, plus you will make yourself feel even more ill than you are at the moment.

So first things first - positive mindset.

You need to look to the future and say to yourself, "I want there to be a time when I can look back on this situation and be proud of myself that I tackled it head on and got through it". Currently I'm sure you're having a number of dark days; however once you're through this the sunshine will once again return to your life. You deserve to be happy again. You can make it happen, but you are going to need help. Doctor, free debt councilling service, MSE, friends, relations. You're going to need them all and you are going to need to stay positive. Do this and one day in the future you will be happy again.

Good luck and keep posting.

TotallyBroke

maddiem wrote: »

Yes I am taking everything on board. Payplan will call in next few hours. As far as my car goes it actually saves money. For the days I use it, twice a week minimum for work, I would have to take train at peak times and that is around £60 rtn. For the other days when I only need tube, I walk and tube it. I do put in OT.

Payday loans do take up everything but if I paid them off and didn't take them out again each month I have nothing to pay mortgage etc.

You replied while I was editing my post. Please re read.

When do you get paid? How much money do you need to take you to payday? Please do write everything down. Then just send the creditors the £1 payment. Hopefully that will stop you from taking an extra loan again this month.