dont know what to do :o(

rimme

il get straigh to the point
basically a few years ago i didnt give a damn if i got into debt. i had mobiles,catalogues, personal loans etc i was in debt everywhere.
i moved from where i lived, i settled most of the debts before i moved but there were a couple i didnt. a personal loan because i had been paying it and the collector to my reckoning hadnt been putting it in the book, i was arguing this fact when i moved so i just left it at that house, an o2 bill that for some reason was over 600 quid and they wouldnt say why and other bits and bobs which because its been nearly 5 years ago ive kind of forgotten about if im honest.
i live with my partner now, i pay my bills on time and i do have some
i have a couple of credit cards, a personal loan and my catalogue.
ive been trying to get a loan to pay off them, in a debt consolidation kind of way so im paying 150 a month and not 300 but everywhere is turning me and my partner down. my partner doesnt have bad credit at all and earns a good wage so i just couldnt understand it, that is until this morning.
i had a provident debt recovery letter drop on the mat. this is from about 5 years ago so can they still chase me?
i dont know what to do
we have enough problems without having this as well atm.
is it worth me defaulting on all my debts and going into a debt repayment scheme type thing? i dont understand them fully tbh so please dont think im ignorant.
we own our own home though will they take that off us or put a claim on it or something?
i really am stressing about this
ive got a feeling now ive applied for a loan that the world and his wife are going to come back and haunt me own fault, yes i know i just thought they would have been written off by now
ive been debating wether to post on here because im feeling low enough as it is and ive seen so many people get shot down in flames because they dont understand fully
.
i owe current debts
6k between 2 cards, 1 loan and catalogue
i owe lloyds tsb about 3k which i pay off 20 quid a month
any other debts which i fear there may be a few will now i suspect come falling through the door. what can i do which means i have money at the end of each month yet it doesnt run the risk of losing our house?
my oh earns a good wage but after paying all the bills hes left with less than 100 pound for things like clothes,holidays,day trips ,birthdays , xmas and emergencys. its not a lot considering.
im literally left with nothing after paying my personal bills.
sorry to have to post here but im desperate for help
thanks

rimme

a lady has posted a thread in this forum about experian passing on new addresses etc
i think this is what could have happened with a debt finding me 5 years later as i signed up to credit expert experian last week.
what can i do about this also if they have done that?

Toto

Hi and welcome. You certainly don't need to default on all of your debts to enter into a DMP. Why not give payplan CCCS or CAB a call to see what they advise.

In the meantime put up a soa http://www.makesenseofcards.com/soacalc.html and we'll see what we can do.

rimme

Toto wrote: »

Hi and welcome. You certainly don't need to default on all of your debts to enter into a DMP. Why not give payplan CCCS or CAB a call to see what they advise.

In the meantime put up a soa
and we'll see what we can do.

sorry but what does dmp , cccs i know what cab is
i will do this now and post what it says?

thanks for replying

rimme

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 480
Partners monthly income after tax....... 0
Benefits................................ 120
Other income............................ 0
Total monthly income.................... 600

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 60
Rent.................................... 150
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 15
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 25
Clothing................................ 25
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 10
Childcare/nursery....................... 0
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 19
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 25
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 25
Emergency fund.......................... 0
Total monthly expenses.................. 429


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


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 2134.....(60).......27.9
Total secured & HP debts...... 2134......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................1318......50........20
capital one....................1013......52........27
barclays.......................812.......50........26
loan...........................3000......69........10
Total unsecured debts..........6143......221.......-


Monthly Budget Summary
Total monthly income.................... 600
Expenses (including HP & secured debts). 429
Available for debt repayments........... 171
Monthly UNsecured debt repayments....... 221
Amount short for making debt repayments. -50

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -2,134
Total Unsecured debt.................... -6,143
Net Assets.............................. -6,143

Created using the SOA calculator at .
Reproduced on Moneysavingexpert with permission, using Firefox browser.

smsfrancis

Correct me if I'm wrong, but that SOA is based on the fact that they're your debts and only you are paying them off - right?

In that case, are the expenses halved (or your proportion) or the total household expenditure? Just that some bits seem a lot, such as presents and pet care, just to be your half?

Toto

rimme wrote: »

sorry but what does dmp , cccs i know what cab is
i will do this now and post what it says?

thanks for replying

DMP is a debt management plan. This is where you agree with your creditors to pay a reduced monthly payment. They will mostly freeze interest so the money you pay is coming directly off the debt.

CCCS is a free debt advice charity in the same way as Payplan and the citizens advice are. If you call one of these charities they will go through your monthly income and outgoings with you. They will take details of your debts and will deal with your creditors on your behalf. So making a call to one of them will be the best place for you to start.

rimme

the pet care is my responsibility as theyre my pets, presents are just for my kids oh saves for his kids (4) the rent side is my contribution to all the bills as oh pays them all inc 1000 mortgage, hes left with less than 100 after paying everything so i contribute as i have to else we will have nothing for the kids for xmas etc, he pays all shopping etc too.

smsfrancis

Well stay positive! And we certainly won't shoot you down in flames

With the above being accurate, you're only £50 off breaking even each month and still paying off your debts which, if you look around these forums, aren't overly huge in total - keep that in mind too to stay positive.

Trawl this site for money saving options and cash back and all the other lovely schemes that I've been reading about over the past week since joining - added together these should save you more than £50 so you'll actually be in the green soon!

Take the advice of Toto and ring the free advice numbers to get this nailed down and you'll be well on your way to being debt free.

Also, about that 5 year debt. There is a thing called "statute barred" which I was reading about yesterday. Basically, if you've not made a payment or admitted liability in 6 years, they have to write it off (I think that's how it works). To quote HMRC : "If a lender allows time to pass without receiving any payment an action for recovery may become barred. "

Check out the Government sites and this place for the exact wording as you could be close to this point!

Toto

ok, are you getting all of the benefits you are entitled to?

go to www.entitledto.co.uk and double check. You will need to enter the full household income not just yours.

It's pretty tricky to do anything much with your SOA when it's only half of the story. Is there any chance of you and your partner doing a joint household one? I realise he may physically pay for things but any savings in the house has to be a good thing.

rimme

thanks for all replies!
im not asking my oh to enter his details too as hes got me out of a mess before when i left my old house and i went and did it again.
i suffered from depression, i still have very down days but tbh i dont want to take antidepressants anymore. i found i got more in debt when i was very depressed, id go out and buy things on a whim. the day i got one credit card i maxed it out buying an xbox 360
this is my mess and i want to do it myself this time, i just dont want to lose the house or for people to be coming round asking for money etc all the time.
im going to ring the number given and see if they can help me.
ive only made one late payment on a creditcard otherwise im up to date with payments. its just very hard, i struggle alot managing money, i like to think i dont but being honest i do big time :-(