please help, life has never seemed so bad...

pocketshell

I've been reading the fantastic threads here for a while now, I have never posted on anything like this before and am not sure if I'm doing this right, but I've just got to the stage where I feel like running away and feel so lonely that I dont honestly know what else to do.
Feel like I owe so much money . I've been trying to do some of the advice on here and I've had a real shock about the way me and my family have been living. I know we're heading for bankruptcy and I feel in shock about it, physically ill. Have tried talking to my OH but he wont commit to anything, gets aggresive and then goes off to work and leaves me to deal with the problems. I am so ashamed I cant talk to anyone about this. I would really appreciate any advice anyone could give me.
We have had a few years now when everything has gone wrong, financially we have made decisions that at the time seemed perfectly reasonable but now I realise the only decision we should have made was not to borrow money at all. 10 years ago we owned our property outright, earned fair money and didnt really think how we spent it. I was forced into ill health retirement a few years ago, my husband lost his business and it has all spiralled from there.
we roughly have the following debt
15000 lloyds credit card
2000 nationwide credit card
18000 barclays loan
10000 nationwide loan
approx 1200 littlewoods
35000 secured loan first plus
268000 mortgage
3000 overdraft barclays
1000 overdraft nationwide

at the moment I just manage to make the payments but for a couple of months now I have been late with three payments. although they are all up to date I know it wont be long before I'm struggling again, just dont know where to start. have sent off for information about bank charges but am unsure if I should go down the route of unenforceability on the lloyds card, had that account since 1983. would really appreciate any advice

BAILEYS6904

Didnt want to read and run

Sounds like you have been having a tough time of it lately. I'm sure someone on here will be able to give you afew pointers.

A SOA may be helpful, so people can see incomings as well as outgoings, and what APR/Available credit is available to play with? Ie, pay be able to pay some higher interest type things off with lower apr ones??

It constantly amazes me how many people help, so lets keep fingers crossed for you xx

josephine82

Hi pocketshell

here is the link to the SOA that was just mentioned- it would help for you to calculate this, post it back and then we can see the situation and try to advise.

http://www.makesenseofcards.com/soacalc.html

Jo x

beanielou

Hope you could manage to post a SOA.

clang_uk

An SOA would be really handy to help us help you. Don't worry too much about all this debt, you shouldn't make yourself ill over it. There are lots of helpful people here who are in similar situations.

Good luck and chin up!

pocketshell

thank you for taking the time to reply, it means a lot to me. I am really frightened of the SOA but I'm going to give it a go. It may take me a while to get all the info together as we have become very disorganised with money documents, head in the sand, so angry with myself.

Sunnylooloo

Hi

I know my first SOA seemed so daunting, but on on here and another part of the board I got really good advice and at least you are fancing up to things. I can remember the day I went to see someone at the CAB about my debt I nearly fainted when I had added up exactly what I owed.

All I can advise really, is to post it up and see what others have to say, I found it so helpful and I know I am spending less and less each month now to advice I received here and other threads.

Good luck

LL

pocketshell

Statement of Affairs and Personal Balance Sheet[/b]
Ok, I just had a go at this SOA, I dont have all the apr's etc to hand so if this is needed I'll drag them out later. Its pretty dire, all our cards are up to the limit so I cant pay one with the other. At the moment I am managing to keep on top of the minimum payments (just!!) because I have a small craft business which in the past has been turning in around £400 pm, I've not included this income as the business has been seriously struggling in the current climate and is becoming unviable. We are probably going to have to cease trading in the next few weeks so its pointless including this, there may be around £5000 worth of assets from this if I can sell stock on
Household Information
Number of adults in household........... 4
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1826
Partners monthly income after tax....... 1150
Benefits................................ 400
Other income............................ 200
Total monthly income.................... 3576

Monthly Expense Details
Mortgage................................ 670
Secured/HP loan repayments.............. 345
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 172
Electricity............................. 90
Gas..................................... 50
Oil..................................... 0
Water rates............................. 48
Telephone (land line)................... 35
Mobile phone............................ 90
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 600
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 20
Car Insurance........................... 35
Car maintenance (including MOT)......... 25
Car parking............................. 40
Other travel............................ 100
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 23
Pet insurance/vet bills................. 0
Buildings insurance..................... 27
Contents insurance...................... 35
Life assurance ......................... 64
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 10
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2691


Assets
Cash.................................... 0
House value (Gross)..................... 320000
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 324000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 268000...(670)......0
Secured Debt.................. 35000....(345)......0
Total secured & HP debts...... 303000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
lloyds mastercard..............15000.....300.......0
nationwide creditcard..........2000......60........0
barclays loan..................18000.....400.......0
littlewoods....................1200......72........0
nationwide loan................10000.....300.......0
Total unsecured debts..........46200.....1132......-


Monthly Budget Summary
Total monthly income.................... 3,576
Expenses (including HP & secured debts). 2,691
Available for debt repayments........... 885
Monthly UNsecured debt repayments....... 1,132
Amount short for making debt repayments. -247

Personal Balance Sheet Summary
Total assets (things you own)........... 324,000
Total HP & Secured debt................. -303,000
Total Unsecured debt.................... -46,200
Net Assets.............................. -25,200

RAS

Hi pocketshell

Four adults and two incomes?

Can you explain the family set-up please.

pocketshell

Hi RAS
sorry about the confusion, there's me, myOH and two 'adult ' children. one is in work and has just started paying keep at £200pm I put this as other income, one is in full time education.

RAS

Hi

What grants/ laons can the one in Ft education access?