Time to sort our lives out!

*depressed*

I have been a lurker on here for ages and found lots of your advice really useful so thanx

We are in sooo much debt now that its scary, before me and OH got together i got into quite a bit of debt and had a dmp! When me and OH moved in together he took out a loan and paid off my debt (a&l loan) but i found out this week that a loan i had with lloyds wasnt paid off and i havent been making any payments etc so that needs to be sorted asap. We have a loan my mam took out with lloyds for us for £5k which was the deposit on our house and the credit cards are now maxed as the day after we bought our house i was made redundant! My salary is now around half what it was in my job, and the credit cards where used for bills, food and petrol while i was out of work.

We are now at the stage where all our money goes on bills, my job is now on the line of bein made redundant and its making me ill. I am being sick everyday, i havent slept in weeks, i have constant headaches and nose bleeds and i already suffer terribly with depression which is now a lot worse.

I work shifts so i cant get a second job and thats the same for OH! We havent been out in over a year, we dont have takeaways etc we dont smoke or drink, i feel like our lives are non-existant, we jus work to pay bills and the rest of the time we worry about money

It has come to the point where we have persuaded our mortgage provider to let us have a consent to lease and we have an estate agent coming round on tuesday to sort out lettin our house out, they have estimated it will bring in 550 a month. We are going to move in with OH parents, we will be movin into their loft, but it isnt habitable atm so we will have a mattress in their sitting room for the first couple of months until the loft is sorted. Its not ideal, its already overcroweded, i wont have any of my own space, no where to keep my clothes, get ready etc and its going to be awful living in their sittin room, where they all eat, watch tv but we dont have any other option.

I have made 2 soa, one for now with our mortgage and one for when we move out


this is the one atm

---

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1000
Partners monthly income after tax....... 1050
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2050
Monthly Expense Details
Mortgage................................ 820(interest only)
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 125(over 12 months)
Electricity............................. 18
Gas..................................... 20
Oil..................................... 0
Water rates............................. 18
Telephone (land line)................... 12
Mobile phone............................ 50(2x contracts)
TV Licence.............................. 12
Satellite/Cable TV...................... 19(6 months left)
Internet Services....................... 0
Groceries etc. ......................... 120
Clothing................................ 10
Petrol/diesel........................... 90(work)
Road tax................................ 10
Car Insurance....................... 47jus renewed n cheapest)
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 40(work)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 6
Contents insurance...................... 6
Life assurance ......................... 12
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1465

Assets
Cash.................................... 0
House value (Gross)..................... 135000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 137000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 135000...(820)......7
Total secured & HP debts...... 135000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
A&L loan.......................9000......230.......15
Debenhams cc...................3500......135.......16
Barclaycard....................1700......35........0
lloyds (old loan)..............4000......0.........0
Nana (car loan.................2500......0.........0
Parents........................2000......0.........0
Lloyds.........................5000......160.......7
Total unsecured debts..........27700.....560.......-

Monthly Budget Summary
Total monthly income.................... 2,050
Expenses (including HP & secured debts). 1,465
Available for debt repayments........... 585
Monthly UNsecured debt repayments....... 560
Amount left after debt repayments....... 25
Personal Balance Sheet Summary
Total assets (things you own)........... 137,000
Total HP & Secured debt................. -135,000
Total Unsecured debt.................... -27,700
Net Assets.............................. -25,700

---

and this is for when we move out

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1000
Partners monthly income after tax....... 1050
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2050
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................. 270(extra for mortgage)
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 50
TV Licence.............................. 0
Satellite/Cable TV...................... 19 (contract)
Internet Services....................... 0
Groceries etc. ......................... 120
Clothing................................ 10
Petrol/diesel........................... 90
Road tax................................ 10
Car Insurance........................... 47
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 6
Contents insurance...................... 6
Life assurance ......................... 12
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 710

Assets
Cash.................................... 0
House value (Gross)..................... 135000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 137000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 135000...(0)........7
Total secured & HP debts...... 135000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
A&L loan.......................9000......230.......15
Debenhams cc...................3500......135.......16
Barclaycard....................1700......35........0
lloyds (old loan)..............4000......0.........0
Nana (car loan.................2500......0.........0
Parents........................2000......0.........0
Lloyds.........................5000......160.......7
Total unsecured debts..........27700.....560.......-

Monthly Budget Summary
Total monthly income.................... 2,050
Expenses (including HP & secured debts). 710
Available for debt repayments........... 1340
Monthly UNsecured debt repayments....... 560
Amount short for making debt repayments.
Personal Balance Sheet Summary
Total assets (things you own)........... 137,000
Total HP & Secured debt................. -135,000
Total Unsecured debt.................... -27,700
Net Assets.............................. -25,700


Any money left over will go off debt, and possibly board to OHs parents
Thanx for reading i jus needed to get it off my chest

Stacey x

Karen_30

Hi,

Just wanted to pop on and wish you lots of luck whatever you decide to do.

Not great with SOA's but I am sure that the experts will be along soon ....the only think I would suggest is look at the old style board here re food, shopping etc. Take stock of what you have in already and maybe try and cut down on the food shopping....easier said than done I know :rolleyes:

There are lots of nice challenges on here that could really keep you motivated, pop and have a look at some of the diaries...they are really motivational.

Take care,

K x

*depressed*

thanks

our shoppin only works our around £30 a week which includes toiletries, cleaning products and dog food, so i dont think its that bad is it? maybe it is, it used to be around £50 a week so its getting there

xx

Fire_Fox

If you have a house could you not rent out a room in your own home? This is not taxable up to about £4k a year. You may have to pay tax on any 'profit' you make from letting out the house - you can't write off all mortgage payments.

If you are that ill honey, you need to see your doctor and maybe you need to be signed off work. You haven't put anything in your SoA for prescriptions: are you not being medicated for your depression at present?

*depressed*

Hey

thanx for your reply I was given a 6 month prescription so i still have another 5 months before i need to pay for it again, and its only £7

if i get signed off work i dont get paid so its not an option either

we did look at gettin a lodger, which we could get an extra £300 a month but it means we cant pay off any of the debt off quicker, if we move out we should have all the debt paid off in 2 years and then when we come back our outgoings will only be £1000 a month. I jus cant believe it has got to this stage, we are due to get married next july and that has now been cancelled, i am only 21 and i jus feel like my life is over. I havent been out in over year, i dont have any friends cos i cant afford to go out, and my depression makes me unreliable to make plans, cos if i cancel they get annoyed.

Hopefully only 2 years of hell and then it may all improve

xxx

Happytogetdebtfree

Hi and welcome to the boards, good luck with your journey... will you be happy living with the oh's parents ? if it means you will pay debts in 2 years ? how quick could you pay them if you stayed in your own home and rented a room out ? i hope things work out everyone has there silver lining a year ago i was living on clound 9 thinking i could have it all then i faced some home truths and we are well on our way paying debts and paying out in cash for our wedding we should be debt free in another 2 years so i can not wait xx

*depressed*

I get on really well with all of OH's family, and his sisters fiance also lives there, so at least am not the only lodger ahaha. It will be wierd at first i moved out of home 4 years ago, so going back to havin my tea cooked for me, and someone doin my washing will do my head in, but i am going to go and see them before we move in and have a proper chat about doing things myself still etc. Am sure after the first few weeks everything will be fine its jus something i need to get used to. If we stayed here it would take around 5 years to pay it all off, which means no money and no life for 5 years

Thanks for your message

xxx

Fire_Fox

If you dress the chat up as you'd really like to not feel like a burden, so you'd really like to each take responsibility for something - e.g. cooking at weekends, doing the laundry, keeping the bathroom clean - I am sure your fiancee's mum would be delighted!!

I am not up on the latest rulings on Incapacity Benefits, but when I was long-term sick (stress, insomnia, depression) my wages stopped and I got benefits even tho I was technically still employed. :T Not sure how you living with family and having an extra income (rent) would affect this - maybe the benefits board could help?

There is light at the end of the tunnel, keep seeing your doctor if you don't feel 100% as you may need your medication levels adjusting or to try a different drug. Most people do have a false start or two before hitting the right combination - I am a qualified pharmacy technician so have seen it many times as well as experiencing it myself.

*depressed*

Hey

Yea thats how the chat is going to go, i need to discuss paying board and buying shopping etc cos OH's parents have told us not to pay anything and they will get the shopping, dont get me wrong any money i can pay off debt is better but i jus couldnt not help or pay for things its fab that they can help and am certainly not going to take the mick

i wil have a look about benefits and see what i can do i have applied for 4 jobs this weekend so fingers crossed! i absolutly hate my job atm, to the point i cry every morning cos i dont want to go in, and luckily moving in with OH's parents means i can take a minimum wage job that i like for now, n then keep looking for something with better pay in the mean time.

I love this board already, non of my friends understand how i feel cos i am the only one with a mortgage etc and u all make me feel 'normal'!

xxx

angelicmary85

*depressed* wrote: »

Hey

Yea thats how the chat is going to go, i need to discuss paying board and buying shopping etc cos OH's parents have told us not to pay anything and they will get the shopping, dont get me wrong any money i can pay off debt is better but i jus couldnt not help or pay for things its fab that they can help and am certainly not going to take the mick

i wil have a look about benefits and see what i can do i have applied for 4 jobs this weekend so fingers crossed! i absolutly hate my job atm, to the point i cry every morning cos i dont want to go in, and luckily moving in with OH's parents means i can take a minimum wage job that i like for now, n then keep looking for something with better pay in the mean time.

I love this board already, non of my friends understand how i feel cos i am the only one with a mortgage etc and u all make me feel 'normal'!

xxx

Hiya,

Just wanted to nip by and wish you the best of luck with your new MSE style of living!!
As for your last sentence there...you'll find more abnormal people on here than there is normal!! :rotfl:

Fire_Fox

It will be worth it - you are learning habits and lessons that will stand you in good stead for the rest of your life!! Imagine if you'd got married on credit and then lost your home - what a start to your future together. This way you will be extra close to your in-laws and probably have savings when all your peers are in debt up to their eyeballs, with children and mortgages.

If your fiancee's parents don't want board then take them up on it - repay them by buying and cooking a big Sunday dinner plus homemade pudding for the whole family every weekend, and paying off your debts quickly. Handing over cash every month does not mean half as much as the many thoughtful gestures that show that you appreciate their help and care for them - washing up and cleaning the kitchen after they have cooked, baking a cake for a birthday, cups of tea when they have just got in from work, mowing the lawn .... anything you know they are too tired or too busy or dislike doing themselves.