oh my goodness what have i done!

gmags

if you're brave enough you could sit him down with your computer and let him read through this whole thread (have yourself a nice bath while he's doing so or something) .. You've been very honest on here and its always the best policy - especially if you about to start married life. I'm sure if he knows how it is worrying you he will understand.
He will also get the benefit of reading other people's views too - which if he is anyhting like my hubby - he may take more seriously. A wedding can be done on a budget - we (I) had debts of £32k and we still managed to save and pay for a wonderful wedding & honeymoon earlier this year and still chip away at the debt (now only £5k). It is possible if you work at it together. Lots of luck - I'm sure it will be fine.

pelirocco

cakey wrote: »

he is already making 1400 a month on the new business and is due a payment of 4K today, so i know the money will be there.

on believing him.... i just dont know. i have never doubted his trust before, but when you put it in writing like this i just think.. MUG

Making £1400 or earning £1400

hes due a payment of £4k yet has already spent £4k ,he hasnt made anything

There is a well known saying 'Turnover is vanity ,profit is sanity ''

Katy83

Hi cakey,

Just been reading through your thread, is the 4K/1400 month your OH is making before or after tax? If he is self-employed does he not need to put the money aside to pay HMRC at the end of the year? Just might need to factor that in when you are working out how much he can pay back.

Good luck with it and lots of hugs xx

geoffky

he sounds like someone who has never been told NO.. a very immature human being...

property.advert

chalkie99 wrote: »

A payment of 4k means nothing -it's the profit that counts and if he is making £1400 a month ( and I bet that is gross) it is nothing like enough to be splashing out on vehicles, especially something bought merely because he perceives it will make him look cool.

Ain't that the truth !

People who start up in business often think of income as profit and that all costs become nothing as they are magically offset against tax !

However, if the tax payable was zero, then the real cost of the car would be 100% of the actual cost.

cakey

thanks for all of your replies.

im really confused on the business front and his monies.

so here it goes as i know it.

the company he set up was self employed, but now moving to limited.

all the company makes is 1400 a month. out of this money he now has fixed costs for..

fixed
bt line rental (running the business out of home)
mobile contracts
accountant fees
car

the car is a necessity for his job, i do not believ a BMW is though.

now he reckons the reason he is able to take 250 a month out of the business is that this is the only thing he gets apid out of the company, he takes no salary nothing.

on the 4K he has taken, 1K was for stock parts for a service he was doing, this is being paid back by the customer and is part of the 4K he has coming in, 1800 was taken for the deposit for the car, which his account says he can offset (im not even going to pretend i know what all that means)
the other 1K i had to put in the joint account to cover his lack of salary in august.

so the money is all traceable, and his account (so he says) said that as the car is needed for the business it can be used for tax allowance or something. urrgggh it gets more confusing the more i try and figure it out.

after a long discussion last night, he has promised £2322 when his cheque clears and a further 500 spread over the next 6 months.

i just hope i dont have to post baack here in a couple of days to say he hasn't paid back.

thank you for all your advice...

on another point raised above - He isnt used to people saying no to him, after having what he classed as a deprived childhood (never getting what he wants his family were very hard up, he had to give up all his wages at 14 to help) he proceeeded in adult life to spoil himself for the next 15 years.. hence his debt. he has got better, i have to give him credit for that, it just seems like he relapses and its hard reigning him back in

cakey

Little update!

He paid it all back today!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

slash69

cakey wrote: »

Little update!

He paid it all back today!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

aw so pleased for you. now hang onto it really tightly lol and say no next time he wants to borrow....think there is a wedding thread on the special occs board lots of people on their will be able to offer you loads of advice on how to get the most out of your big day without the huge bill at the end of it all...congrats and good luck xx

cakey

slash69 wrote: »

aw so pleased for you. now hang onto it really tightly lol and say no next time he wants to borrow....think there is a wedding thread on the special occs board lots of people on their will be able to offer you loads of advice on how to get the most out of your big day without the huge bill at the end of it all...congrats and good luck xx

i have put in in a savings account that he has no access too

i will go and check out the wedding board too thank you

WASHER

cakey wrote: »

Little update!

He paid it all back today!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Pleased to read that. I personally wouldn't loan him any further monies, you may not be so lucky in the future to get it returned.