Any help will be gratefully received

MrsM_4

Hope

Time for bed said Zebedee- get a good night's sleep - you will need it. At the top of this page there are several links for debt advice. Are the credit card companies not morally obliged to help you with this?

There is often help like this available that we don't even know about - check out these links and book up to see CAB - any free help will obviously be good.

How helpful/supportive is your OH in all of this?

Will check back 2moro

MM

CLAPTON

sorry to be a pain but the financial details are very confusing
could you post in the following format as its much easier to understand

If you browse the bulletin board you will see examples but the general format is

: statement of income: with total so save everyone having to add it up.

: statement of expenditure
this should be quite detailed but excluding debt repayment
: a subtotal to save us all having to add it up

: statement of all debts including
outstanding amount, monthly repayment , APR
a subtotal of the total debt and of the total repayments, to save us having to add it up

also add a brief details of you situation, partner, any children, rent or own property, value of house and mortgage, any special circumstances that are relevant

fatbelly

Hi Hope

Have a look at this and see if you think it suits. You don't have to do a DMP through National debtline but make sure you use a fee-free service.

My thinking is that you should (1) sort out your mortgage to get the best deal you can while you still have a good credit rating; (2) cut up your credit cards; (3) go for a DMP.

It might look like this will take forever to clear your debts but after a few years (maybe sooner) your creditors would be open to full and final settlement deals and you do have some lump sums coming somewhere down the line (misselling of the endowment might produce one!)

And in the meantime you should be able to live on your income.

Best wishes

Hope_2

You are all amazing. Just logged on briefly before work so have not got time to reply fully to all the questions you have. Will prepare a proper financial statement tonight.
Mortgage rate so high as it's over a short time as my OH is 60 in 9 years also that figure includes house & contents insurance. Sorry, realise I've confused everyone.
Thank you all guys
Work will be easier today knowing Ive shared this huge secret with someone.
I have been feeling such a sense of failure and shame about it.
OH is worried too but is burying his head but the debt is more my fault than his.
Will keep you all posted and thanks again

moo842

please don't feel a failure ((((hugs)))) your not the first and won't be the last peson to get into difficulties. you've done the best thing posting on here. keep smiling

little_miss_broke_2

I just wanted to say welcome and that you've done the right thing, coming on here and posting for help (which you will get, in adundance)

I'm new myself, so i don't really have my advice i'm afraid. But i just wanted you to know you're not alone. I first posted here on sunday, i was totally in dispair and couldn't see a way out. The lovely, wonderful people on here gave me so much help and advice, i was totally overwhelmed by my problems, but once i started going through it all i could see light at the end of the tunnel. It's only been 4 days, but already i feel better, more postive and very importantly, in control of my debts (instead of them controlling me).

Best of luck to you, keep posting. We're all here to help

MrsM_4

Hi Hope

made any inroads on this yet! what news?

MM

Hope_2

Hi MM

As I write hubby is next to me and he is reading all the threads. It feels good to have him on board.

Def feel less overwhelmed but scared at the long haul ahead. Think the best way will be a DMP but that is scary in itself and wondering if we should make as many cuts as we can and then go on the plan in a few months. Thing is I don't think we can save enough to cut up our credit cards as this is what we have been using for food and petrol.

Spoken to kids and they are definately having packed lunches in future so this is already a saving.

We are going to go through all our outgoings now and draw up a proper summary. Will post it once done but could take some time as need to check all our statements to make sure we haven't missed anything.

Thanks for your support

gallygirl

Good luck Hope.

Have done a quick mental reckie of income v outgoings - am I missing something as you seem to have sufficient income after paying bills to buy food without putting on credit????

A full SOA will help - but I think you need to start a spending diary straight away - from my own & plenty others on this site's experiences this is where the money drifts away.


Good luck again. x

Hope_2

Thanks ali007

I will start a spending diary tomorrow. I think I need to start seeing where all our money goes. Thanks that's a great idea.

Already feeling more hopeful, still working on my SOA. Gosh I wish I'd discovered this site ages ago.