My Husbands Left I Need To Get My Debt Sorted

cleanyspringy

Ok Guys, I am really looking for any help that can be given. My husband has left me and our finances were like any other married couple on 25 year plan!!!

So now its just me with a monthly income of £1204. I have just taken in a lodge for £70 per week which is £280 per month.

My utilities are now this

B&C £22.50
B/Gas £25.00
Bolier £23.79
Talktalk £20.00
Electricity £20.00
Water £16.43
Tv Licence £10.99
C/Tax £83.00
Sky £34.50
Life Ins £15.43
Petrol £ 40.00
Pin Ins £ 3.95
Bank Acct Charges £ 15.00

Now my mortgage is £651 per month which my ex is paying £335 per month. Its with northern Rock on an interest only basis with a remaining term of 19 years. The balance is £112,000 and the house is valued at £105K max. Therefore negative equity of £7,000 plus prob the same again in fees so minus £14,000 to sell the house.

As I am not from the place I am currently living, I have no family that I can reside with if the house were to be sold. Therefore currently selling the house is not an option.

My unsecured debt is as follows, I have recently written to the companies to remove my PPI cover and am awaiting confirmation of the new payments.

Barclaycard £ 100.00 balance= £ 4,000.00
Egg £ £ 85.96 balance = £ 3,800.00
Platinum Card (lloyds)£ 231.00 balance=£ 11,888.00
Cahoot – 3 years lft £ 141.94 balance £ 7,000.00
Lloyds – 3 years lft £ 45.45 balance= £ 1,500.00 Laura
Lloyds – 3 yrs left £ 177.99 balance £ 6,000.00 Laura

The only provider that I am experiencing problems with is Barclaycard, they wont remove my PPI or offer me a lower APR per month.

So at the end of each month – this is where I am left with just over £1 per day.

total in £ 1,484.00
total out £ 1,447.93
LEFT WITH £ 36.07 credit

I don’t see a way out of this except expecting ,y ex to pay half the mortgage for the next 2 years as I wont give him a divorce until this point!!

My car is worth £4500 - but if i sell this i want be able to go back home to wales as much and that is my salvation and i also loose my indepenece

So you guys out there are all the experts what do yo think that I should be doing????

calleyw

Well done on posting your SOA.

Here are a few things that have caught my eye that you are paying for.

Bolier £23.79 -is this insurance cover? or to have it serviced or both. How old is the boiler? I normally pay about £60 for a service once a year.
Sky £34.50-can't afford so it must go. I know a lot of people say they never go out. Neither do I and I don't even have a telly. Can you get freeview signal. Boxes can be picked up for less than £25 nowadays
Pin Ins £ 3.95 - is this incase your cards get stolen. All they do is ring up the banks on your behalf and something you can do for free.
Bank Acct Charges £ 15.00 -why are paying bank account charges. Is this because of the type of account you have. If so down grade it. If it is for things like going over your O/D limit claim the charges back

By cutting all the above that is a saving of £77 a month.

Also is it really fair to expect your ex if he is not on the mortgage to keep paying for it when he does not live there. Would you expect that the other way around. I am assuming this because you say MY mortgage rather than our mortgage. Also not being funny when you do get divorced I don't think it will be taken to kindly that you basically would not divorce him for two because you needed him to pay the mortgage. Divorces are messy enough with out the wrangling going on over money and property,

Your SOA is missing lots of little things like

Food
Car insurance
Car Tax
Phone line rental

You gas seems a little high. But you are using British gas. I assume that water/gas/Electric are all on DD every month. Have you checked to see if you can get your gas/electric cheaper anywhere else.

You have not noted your interest rates either. Would you be able to get a 0% card and pop the highest interest rate on to that.

I am sure other people will better ideas will be along in a while.


Yours


Calley

duncans-mum_2

Hi Springycleaney,
Calley has started the ball rollinand good luck with sorting things out and pointed out some main areas for you to concentrate on and I'm sure others will come along and maybe find out more. I just wanted to say Welcome to the forum, and I hope the support you will no doubt receive will be of help to you. Sorry to hear of the situation you are in.

OberonSH

springy cleany, my husband left me and our year old on New Years Day 'to get his head straight' (he suffers from depression), and a month later I'd found out he'd moved in with a woman and her kids. My divorce should be through in August.

Moral of the story - now is an excellent time to really get to grips with your life, finances etc. I'm having a great time ebaying old stuff, I went through the house like a demon, and it's all going towards my debt and is very theraputic. It's not just the finances, this would be a great time to take a look at yourself now your hubby's not around and see if you like what you see. If not, you can now do somethng about it. I know I did.

I agree with calleyw. Things like sky etc have to be the first to go. I cut absolutely everyhing I didn't need, and now instead of slumped in front of the telly at night i....um...... well I'd like to say I've taken up a really cool hobby and got a life, but actually I spend a lot of time on this site........

calleyw

Something else popped in to my mind related to your user name. Spring cleaning.

Go through the house and sell everything you don't want and don't need on ebay.

You have a lodger so that is good start you have another income stream. Any chance of a overtime or another part time job.

I have done both full time and part time two nights a week as well as studying OU so do know that it is hard. I was never so tired in my life

Also keep a spending diary for a month as you must be spending other money. So you never buy a coke or a packet of mints or even magazine.

Yours


Calley

lynzpower

Hello love and welcome :hello:

SOrry to hear of your circumstances, but some good can come of it if you hang round here

I would think very seriously about your car. I always suggest dumping the car, cos im so tight now I could never imagine having one. You say your car is worth 4500. the longer you hold onto it, the less it will be worth, everyday, and at some point it will cease to be an asset. I dont know how much you actually use it, but if its for "long drives home" more than the runaround, think about whether you are getting value for money from it. A mate of mine worked out that her car is costing her 17 a day in tax/rapairs/insurance/parking etc. Sorry for being so negative, but do check out the cheap travel boards on here, megabus etc, and work out f you did the journey using discount prices on trains coaches etc, then how much would it be? You could clear one and a half of your cards just from selling the car.

Hugs
Lynz
x

moozie_2

Hello cleanyspringy and welcome

Sorry to see you are going through a bad patch. Lots of good advice posted already. I was just wondering if you have considered taking on additional employment in the short term. You have a really trimmed SOA so looking at the other side of things, getting more money in should help a lot.

I am sure others will know for sure but staying married to someone, does not oblige them to carry on paying the mortgage on a house they don't live in. Frankly, why should they? People move on and that's the healthiest thing to do. Obviously if there are children involved, things are very different but I couldn't see a mention of any.

Best of luck.