40k of debt, and affecting Health

bluekaw

Hi Guys sort of new here been lurking for ages and followed loads of advise and when i say we spend the bare min, i mean it to the point of distraction

I Just want to know as i feel quite alone, is the worry of money affecting anyone else health, like it is me.

Sig needs to be updated with the full story

Damita

Hey and welcome to the boards, I don't sleep that well worrying over money, I know I don't owe a lot but when you haven't got a job and living of your savings, it seems alot.

According to your sig you have a car loan for £8,400, could you not sell this car and get a cheaper one? Paying of some of the balance?

Maybe do a SOA and then people will be able to help you more

Damita

I found the links for SOA hope that helps

MissKJ

Bluekaw, if you have been lurkingfor a while, you klnow there are people in some terrible situations. But as Martin says, "there isn't a money problem that cant be solved" and some solutions will mean that you dont feel as though you have no life. Give the people on here some more information about your circumstances and i will bet they can help.

What have you got to lose?

bluekaw

hi Damita,

Thanks for the advise, ill sort out my SOA later, might take a little while is quite complicated,

i need to do something before my head pops of :mad: with high blood pressure

SueP19

Hi bluekaw
It has for me, I have stress related migraines, every weekend for about 3 years, they are better now but I still get struck out of the blue about every 6 weeks
Why don't you have a go at a SOA, see if anyone can help with fresh ideas

liam8282

I don't like to sound like I am getting at anyone here, but you have had the £40k and spent it in the first place.

Maybe you are living above your means and could maybe sell some of your items, such as your car mentioned above (that would be around £5k knocked off your debt for starters, meaning you would still have cash to go out and buy another car with the difference), if you own your house possibly sell it and move to a smaller one if possible, etc...

The main £24,500 which you say is down to tax credits, I can understand people having tax credits over payments due to the system messing up, I myself have had numerous problems with this. But, surely if you have been overpaid £24,500 you would have realised something was wrong quite quickly and let them know about it before spending the money?

SueP19

liam8282 wrote: »

I don't like to sound like I am getting at anyone here, but you have had the £40k and spent it in the first place.

You may not be getting at anyone BUT we have all been there and done that, so as I said in another post "If you have ever had a CC or gone into OD, you are spending what is not yours"

Bluekaw, you are in good company here, the fact you have posted on here shows that you are determined to deal with your debts, regardless of how they have occurred, so WELL DONE YOU :T

bluekaw

the tax credits is a very complicated situation and difficult to explain, its essential my partners debt but we were in full contact with them at all time and they had said everthing was correct, till a year ago when it was full reviewed by an inspector who said the claim was wrong and we had to fully repay everthing and although we were eligible to some tax credit's for the period, we were not allowed to off set them against the debt and claim nothing for the whole period, (like a say i dispise there system, muppets comes to mind) so the debt is not in my name but all the same we are tackling it together,

we don't have one car there are two, and we both work 15 - 20 miles from home, and public transport just doesn't work for us because of travel time, cost and location.

SueP19

It may be worth doing your homework on the tax credits issue, they have obviously cocked up big time and the fact you have been in contact with them throughout is, I would have thought, in your favour.
Have you tried the benefits board, I am sure if you posted what had happened re tax credits, on there someone will be able to help you with that one
I too travel miles to work and the public transport is non existant here, so I know how essential a good car is
xxx

liam8282

I still don't agree with this.

I have debts on credit cards, I have loans, I have had problems with tax credits overpayments etc.

The thing is a £25k overpayment seems a lot by anybodies standards and if you knew there were problems when you were getting the money, thus you being in constant contact with them, why did you spend it all when surely you knew there would be the possibility of having to pay it back?

Do you really need an £8k car when you have £40k debt? You could easily get a decent car that would do the same job for say £3k and have £5k to pay some of your debts off with. If you have 2 cars, this could be £10k of your debts.

I don't know the amount of time this debt has accumulated over, but it just seems from what you are saying, that you have had this money, spent the lot and now have a lifestyle that you cannot afford.