What can anyone advise on this situation please?

4 Posts

Evening all.
This is hard so bear with me. I'm in a mess and i need help. Its a long story so will spare you a few hours reading!!! Basically - started my married life good, debts started to rack up due to previous problems for both of us, lots of years go by - nice house, nice cars, both working very hard indeed ( many many hours ) - family bereavements a plenty - stress, worry, and then bankruptcy for me. Luckily i have a very supportive family. Still dont know how i got in that situation but it was compound interest and burying my head in the sand that did it. It was the hardest thing ever and i was ashamed.
I am out of that now and have been for several years. Had a few jobs since always trying to better myself. The debts started again - holidays, nice things - nothing ott - just rewards we thought for hard work. These were not managed properly and we soon looked at selling and moving on. We did and it was a nightmare - hated the new house and it pushed us to breaking point - i'd pay a little off the totals here and there but all in all they were hanging over me again.
Well - i've recently lost my job and have been out of work for a few months now - again family are keeping me going. I do not know what to do. I am hopeful of a good job coming up again but this has left me on the brink again.
I'd appreciate anyone's help on this situation as i do not think i can face bankruptcy once again - and i fear for my marraige....
My SOA is below:
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 2000
Partners monthly income after tax....... 800
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2800
Monthly Expense Details
Mortgage................................ 781
Secured/HP loan repayments.............. 35
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 50
Gas..................................... 60
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 35
Mobile phone............................ 55
TV Licence.............................. 12
Satellite/Cable TV...................... 28
Internet Services....................... 25
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 12
Car Insurance........................... 38
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 15
Buildings insurance..................... 25
Contents insurance...................... 0
Life assurance ......................... 28
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 40
Holiday................................. 50
Emergency fund.......................... 20
Total monthly expenses.................. 2029
Assets
Cash.................................... 0
House value (Gross)..................... 148000
Shares and bonds........................ 0
Car(s).................................. 10000
Other assets............................ 0
Total Assets............................ 158000
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 136000...(781)......5.6
Hire Purchase (HP) debt ...... 1000.....(35).......0
Total secured & HP debts...... 137000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
egg............................3580......85........16
barclaycard....................4373......100.......6.9
alliance & leicester...........4225......100.......14.9
Next...........................400.......50........29
Total unsecured debts..........12578.....335.......-
Monthly Budget Summary
Total monthly income.................... 2,800
Expenses (including HP & secured debts). 2,029
Available for debt repayments........... 778
Monthly UNsecured debt repayments....... 335
Amount left after debt repayments....... 436
Personal Balance Sheet Summary
Total assets (things you own)........... 158,000
Total HP & Secured debt................. -137,000
Total Unsecured debt.................... -12,578
Net Assets.............................. 8,422
Many thanks
This is hard so bear with me. I'm in a mess and i need help. Its a long story so will spare you a few hours reading!!! Basically - started my married life good, debts started to rack up due to previous problems for both of us, lots of years go by - nice house, nice cars, both working very hard indeed ( many many hours ) - family bereavements a plenty - stress, worry, and then bankruptcy for me. Luckily i have a very supportive family. Still dont know how i got in that situation but it was compound interest and burying my head in the sand that did it. It was the hardest thing ever and i was ashamed.
I am out of that now and have been for several years. Had a few jobs since always trying to better myself. The debts started again - holidays, nice things - nothing ott - just rewards we thought for hard work. These were not managed properly and we soon looked at selling and moving on. We did and it was a nightmare - hated the new house and it pushed us to breaking point - i'd pay a little off the totals here and there but all in all they were hanging over me again.
Well - i've recently lost my job and have been out of work for a few months now - again family are keeping me going. I do not know what to do. I am hopeful of a good job coming up again but this has left me on the brink again.
I'd appreciate anyone's help on this situation as i do not think i can face bankruptcy once again - and i fear for my marraige....
My SOA is below:
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 2000
Partners monthly income after tax....... 800
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2800
Monthly Expense Details
Mortgage................................ 781
Secured/HP loan repayments.............. 35
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 50
Gas..................................... 60
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 35
Mobile phone............................ 55
TV Licence.............................. 12
Satellite/Cable TV...................... 28
Internet Services....................... 25
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 12
Car Insurance........................... 38
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 15
Buildings insurance..................... 25
Contents insurance...................... 0
Life assurance ......................... 28
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 40
Holiday................................. 50
Emergency fund.......................... 20
Total monthly expenses.................. 2029
Assets
Cash.................................... 0
House value (Gross)..................... 148000
Shares and bonds........................ 0
Car(s).................................. 10000
Other assets............................ 0
Total Assets............................ 158000
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 136000...(781)......5.6
Hire Purchase (HP) debt ...... 1000.....(35).......0
Total secured & HP debts...... 137000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
egg............................3580......85........16
barclaycard....................4373......100.......6.9
alliance & leicester...........4225......100.......14.9
Next...........................400.......50........29
Total unsecured debts..........12578.....335.......-
Monthly Budget Summary
Total monthly income.................... 2,800
Expenses (including HP & secured debts). 2,029
Available for debt repayments........... 778
Monthly UNsecured debt repayments....... 335
Amount left after debt repayments....... 436
Personal Balance Sheet Summary
Total assets (things you own)........... 158,000
Total HP & Secured debt................. -137,000
Total Unsecured debt.................... -12,578
Net Assets.............................. 8,422
Many thanks
0
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Replies
I assume if you have been bankrupt in the past then you have been used to living on a much tighter budget than you have posted here. I think there are a number of places you can cut back on your expenses/look for better deals, but its hard to see how much short you are each month as you have included your income even though you are not working.
Do you have any PPI on any of your debts? have you made a claim due to being out of work?
Plus, £20 for emergency fund? Put that onto credit cards instead and use one if you HAVE to when something catastrophic happens.
C'MON! Let's get this debt sorted!!