Too scared to work out what I owe

145791057

Comments

  • veron_uk wrote:
    hi! I'm also in the same situation. Thank goodness my hubby is understanding but it means getting a £10 K loan, finishing in 2012 !!! Oh my god! My son will be 10 then!! Not a life to live eh! I personally have 2 loans he doesn 't know about.... one finishing this Sept, and one in 2009 !! Oh my god yet again! I hate this life. debt ! debt! debt! I wish I could win the lottery! I'd pay off all your debts as well! But I don't really buy the lottery as I can't really afford it! I faced the ugly truth of my debt problem twice and I hadn't learnt after the first time! Hopefully I will now!

    Owe mom £5000 (0%....)
    NR loan at £184 pm (since 2003), debt cleared 09/06 :(
    AL loan at £216 pm (since 2005), debt cleared 06/09 :eek:
    NR with hubby at £165 pm (2006), debt cleared 03/12 :eek:

    Will we ever get there?? :confused::(

    Hi Veron.

    If you start your own thread you will get a much better response! :D
  • hi! I don't really know how to do it! And how do I knw when I get a reply? I think I've written once before but I can't find myself! Story of my life!
  • veron_uk wrote:
    hi! I don't really know how to do it! And how do I knw when I get a reply? I think I've written once before but I can't find myself! Story of my life!

    :rotfl:

    OK, I'll try and talk you through it as best I can!

    Click on this link then at the top of all the threads it says 'New Thread' in a little blue box. Click that. Then give your thread a title then type out everything you want to say.

    When you have done that scroll down and BEFORE you hit 'Submit New Thread' there is an drop down option below it that says 'Thread Subscription'.

    Select the one that says 'Instant Email Notification'. When thats done hit 'Submit New Thread'!

    Now when anyone replies to your thread you get an email telling you with a link to your thread.

    Hope this helps! :D

    SS
  • moozie_2
    moozie_2 Posts: 3,063 Forumite
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    Thanks again everyone for your kind support, useful messages and offering me the shoulder I need right now.

    I am taking the advice given by many of you and making small steps every day. Today has been a real milestone in a number of ways. I can't say I feel I had my 'lightbulb' moment yet but maybe when I look back on this day a few months down the line, it will seem that way.

    Things I have done today:

    1. Banked my £180 worth of £2 coins into my Barclays account

    2. Closed the ISA and arranged for the £270 to be paid into the Barclays account (this will make it £37 in credit)

    3. I arranged for the Barclaycard to be paid in full (£51.56) from the Barclays account on March 1st. That will leave the Barclays account £14.56 OD BUT I already have £12.41 in coppers/5ps which I will top up to the right amount and pay into the account this week.

    This means that by March 2nd, both the Barclaycard and my Barclays account will be nil balance. I could not have done this without you - THANK YOU.

    4. This evening OH and myself had a very frank discussion about money. No arguing and no bad atmosphere afterwards. Absolutely incredible but once I explained how worried I am about my/our situation and how I have been so lucky to get help on here, the conversation was very easy.

    For the first time ever in the 6 years we have lived together, we both know how much each other earns, who we each owe money too and how much we pay each month. I know some of you may be thinking 'they have only just done that after 6 years???' but I am trying to think of it as a good step/sign of progress in the right direction.

    OH has a loan and a 0% credit card with £1,200 outstanding. We agreed our priority should be to look at our current account and make savings where possible and also look at our individual accounts and focus on paying our joint overdraft off.

    5. Following 4, we opened today's post addressed to both of us. Our A&L account yesterday went overdrawn over its £500 limit and they charged us £25 for it. Now that was not the best news we could have received but, following a suggestion someone made on this site to someone else, I suggested we gave them a ring and asked them to waive it as a. £800 was paid in the account today and b. we have not been so OD before in that account. Guess what? We called A&L and they said 'we'll waive it as this is the first time this happened' :j A week ago that letter would have remained unopened in a drawer and no chance of getting that £25 back. Again, I have you to thank for that.

    So how do my figures look after my third day of trying?

    Barclays joint account overdraft - £2,555.30/2 = £1,277.65 OD @ 15.6% interest (same)

    A&L joint account overdraft - was £401.35 OD, now £215 in credit

    Barclays account overdraft - was £413.02 OD, will be nil @ March 2nd

    FD account - was £759 in credit, is £423 in credit (I have spent £5.06 this week but DDs got paid out)

    Halifax credit card - £2,351.09 @ 0% until 18/7/06 pay min by DD (same)

    Barclaycard - was £51.56, will be nil @ March 2nd

    Freemans catalogue - £65 outstanding, payment due in May, 0% (same)

    BHS store card - £33.07, gets paid fully every month (same)


    As suggested, I have recalculated the loans as follows (hope I got it right):

    Sainsburys loan - 21 pmts left @ £386.12 = £8,108.52
    Tesco loan - 35 pmts left @ £201.68 = £7,058.80

    So the new total, with the amended loan figures is £18,894.13. Still a hell of a lot but better than £32,492.94 and totally amazed with myself for working it all out!

    I am sorry this has been such a long post. It seems my tears are running out and I'm getting ready to fight back, all thanks to this site and each and everyone of you.
    Leason learnt :beer:
  • Well done you! Very inspiring! :-)
  • moozie_2
    moozie_2 Posts: 3,063 Forumite
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    veron_uk wrote:
    Will we ever get there?? :confused:

    If you had asked me that on Sunday, I would have answered quickly and firmly, not in a million years.

    Today though, I am beginning to think there is light at the end of the tunnel. Not a fully revealed bright one yet but a definite sparkle is showing!

    Best of luck to you :)
    Leason learnt :beer:
  • Moozie, if you pardon my french you are doing f****** brilliantly! :T :T :T

    I'm glad you and the OH have everything in the open! If your both singing from the same hymn sheet it will be so much easier!

    If you are worried you have miscalculated the loans feel free to post it all and I will have a look! :D
  • WOW!!!! I'm so pleased that you n OH could actually sit down and talk about everything financial and hopefully now work together on sorting out stuff. The light might only be a flicker but it'll get brighter day by day and well done you for ringing A&L up to ask for a refund on the charges!
  • moozie_2
    moozie_2 Posts: 3,063 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Moozie, if you pardon my french you are doing f****** brilliantly! :T :T :T

    I'm glad you and the OH have everything in the open! If your both singing from the same hymn sheet it will be so much easier!

    If you are worried you have miscalculated the loans feel free to post it all and I will have a look! :D

    You think so? Thank you, that means a lot. I just hope I keep making the right steps.

    Thanks you very much for your offer to help me work the loans out. I am not sure I did them correctly :o

    So, the Sainsburys one started 10.2.04 and it was for £14,352 @ 6.5%. The interest on the agreement is stated as £2,250.33. Monthly pmt is £386.12 for 42 months.

    The Tesco one started 16.8.05 and it was for £7,500 @ 6.5%. The interest is £970.56. Monthly it's £201.68 for 42 months.

    I look forward to your figures which I will trust more than mine :) Thank you again.
    Leason learnt :beer:
  • D&DD
    D&DD Posts: 4,405 Forumite
    :D Well done for getting all that sorted out already Moozie :T I was the same as you, emotions all over the place the first week or so then the fightback started LOL...It actually gets quite addictive saving money and once you get a few savings under your belt like the A&L refund there'll be no holding you back best of luck for your continued successes you'll be finished way before me but I'll still be cheering with the rest of them on your debt free day :D
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