Not looking for sypathy but need help desperately.

MATTY11

Around a year ago my life was perfect. I had just moved into a rented house with my girlfriend of 3 years I was happy and had everything I dreamed of. Then a month after moving in I had a car crash which killed my girlfriend instantly and left me with nothing but cuts and scratches. My world crashed I lost the love of my life and felt guilty as to why I survived.

I tried to continue on my own living in the house used credit to afford it because I couldn't bring myself to leave the happiest memory of my life moving in there with her. I tried for 6 months and realised I was drowning. I started gambling to maybe win enough to live there but of course this made things 100 times worse.

I decided to take out loans to consolodate but I have just drowned. I moved back to my parents and am fighting my gambling addiction. The scary reality is I owe so much money the last year has been a blur I have only just realised how much trouble I am in.

Here goes

NORTHER ROCK 2 X 10 YEAR LOANS 120 EACH P/MONTH
HSBC 18000 LOAN 4 YEARS 400 P/MONTH
AMEX CARD 3000
BARCLAYCARD 4900
AMAZON CARD 3000

I earn 1204 p/month and pay my parents 150 p/month

No one knows how much debt I am in. I am attending gambler anonymous meetings and councilling for my grief. As I say I do not want sympathy or a lecture over gambling just how to pay this horrendous ammount owed back within my means.

quietheart

Go to Citizen's Advice and see a debt counsellor. Try not to be too hard on yourself, you got into debt as a means of coping with a truly horrendous and life changing incident. You are doing really well to be getting help, I really feel for you for what you are having to live with.
lots of luck with getting on the road to recovery

KatrinaC_2

Right - to get the amount you can pay back, you need to work out exactly what you are spending where, where you can cut back and what is left over from your salary after that.

If you want to post a statement of affairs on here - basically a list of everything you spend categorised into different groups such as "clothing", "food" and "going out" - then many of the users here will be willing to pick through it with you and identify where you can save.

Secondly; to work out what you should be paying off soonest, you need to know exactly what you owe to whom and (most importantly) the interest rate each is charging you. Normally the most effective way to pay of debts is to overpay on the highest APR debt and just make minimum payments on the others.

Hope this helps,

Kat

rkh001

Can't even begin to imagine how you must be feeling. At least you are facing up to things and there will be a light at the end of the tunnel to clear your debts. Can't say more but I am sure people here will give you loads of support and point you in the right direction. Hang in there.

rkh001

twink

i just want to give you lots of ((((hugs))))) you have been through a terrible time and i know you will get lots of support on here

ms_london

Hi Matty. Welcome to the world of MSE!!

I know you are not looking for sympathy, but I am sorry to hear of what youve been through!!

In terms of your debt - as others have mentioned, post a SOA - and although you have posted what you owe already, could you find out your APR of each debt, and find out EXACTLY what your balance is and how much your monthly repayment is!

What are your goals? Are you living at your parents for the long term or are hoping to move out soon? (Will need to make room for this in your budget, say for example, if you were looking to move out and would need to pay more rent). How about travel costs? Car tax/MOT/insurance? Food? Gym? Mobile? You need to think of EVERYTHING that you spend and the payments that you make each month.

You have come to the right place, I hope we can help.

xx

Lucifer

I am sorry for the loss and the unfortunate learning curve you have been on. My heart goes out to you. There are a massive group of very helpful talented people on this forum, who will be along shortly to help you out. We do however need a SOA to see where you might be able to start.

You have made the right decision of where to come to for help regarding money.

Good luck, and lots of hugs.

CLAPTON

your starting point has to be a Statement of Affairs(SoA) as already mentioned. If you go to CAB or contact CCCS or Payplan they will anyway ask for one.

I would encourage you to post one here...and would suggest the following format as it saves everyone having to add up the numbers

Format is:

: statement of income:

: 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
for loans : outstanding amount, monthly payment and number of months left to pay;
for Credit cards :outstanding amount, monthly repayment , APR
a subtotal of the total debt and of the total repayments, to save us having to add it up

MATTY11

n/rock one loan is 8.9 per cent, the other 10.9 I think
hsbc is 6.9 per cent
amex card is 5.9 lifetime of the balance
barclaycard is 17.9 i think
amazon currently 0 per cent 2 months to run

My outgoings are.....
hsbc £400
n/rock £240
minimum payments £200
Mobile £30p/m
petrol £120p/m
rent £150 p/m
going out £80p/m although I have only just started this again so could easily stop
lunch 20 p/m
clothes I don't often go shopping anymore but £400 a year is about right

I earn £1204 p/m

Thank you for your kind words by the way

MATTY11

hsbc has 4 years to run northern rock one has 10 years one has 9 years. I am living with my parents because I would cripple myself if I didn't. It is not perfect but I have no choice. I also cannot contemplate being ready to move out with anyone else for a long time. I am 25 years old so obviously miss my independance but to get out of debt living back there is a small sacrifice.

MATTY11

car tax 150 per year
servicing/mots i guess 200 p/y?