PLEASE help me, loads of debt, sick with worry.

Fang_3

If you put all your figures in this http://www.makesenseofcards.com/soacalc.html and then post it, you'll probably get a more help. It's just what people are used to reading and going through.

dancingfairy

A couple of thoughts from me:
1) you say you have 240 ish a month spare - perhaps a spending diary would highlight where this is going and help you make more informed choices. Something tells me you may have missed stuff out of your SOA and a spending diary will tell you if that's true.
2) It might be worth getting hold of CCCS and finding out exactly what the balances are with the creditors and who is /isn't stopping interest. Perhaps CCCS need to send out more letters requesting interest is frozen?
3) If the creditors really, really won't play ball and you can't continue as you are then maybe you need to look at an IVA/Bankruptcy. CCCS should be able to talk you through these and there are boards on here dedicated to these subjects. Also should you not be getting on very well with CCCS you can always get help from your local CAB or by speaking to National Debtline or CAP (Christians Against Poverty) - or evern if you just need a second opinion.
4) Try not to worry about the CCJ. Wait and see what happens. When (If) you get court papers come back on here and people will advise you how to defend against them and if you do end up with a CCJ then you will need to make sure it is set at a level you can afford -again people on here can help you with this. This may mean you need to pay CCCS less to split between your creditors.
I know it's easier said than done though to say don't worry.
5) The other thought that occurred to me was that perhaps you need to get your budget revised through CCCS if that is a possibility to look into?

I hope these things help you a little.
Good Luck
df

downnotout

I am not an expert on tax credits, but surely you are entitled to more than £250 a month? Is your OH claiming working tax credits aswell?

loupoppins

ok, thanks for the link. That SOA form was really useful. I still have to get a few more figures to fillin, but on first glance it worked out that there is about £100 leeway at the moment. I know where this goes though. Kids always come home with "I need new pens" "I need money for trip" etc...really, as long as the new CCJ doesnt set payment unrealistically high, we should be OK...BUT that is with things like entertainment and holiday budget set at 0 with no end insight....:(
On reading around I dont think staying on the DMP is a realistic long term option given the ammounts we owe and what we can pay. At the rate we are going we will NEVER be able to pay the debts off......
Think I will have to take over the situation and stop leaving it to DH who hasnt got a clue. Am going to go through all the figures tonight and ring CCCS tomorrow.

will post proper figures once I've sorted them.;)

NorthernLas

If saying on a DMP is not feasible long term, have you considered that any of the debts are un-enforceble? Many agreements taken out before 2007 cannot be enforced through the courts and no CCJ action can be taken. This is not an easy get out as you have defaults for 6 years, but you already have CCJs.

I think the downside is that you may have to self administer a DMP as CCCS see this as treating your creditors unfairly. But it could reduce the amount you owe by a substantial amount.

Have a look at Never-in-doubt's thread and post there if you want to discuss further with the expert.

Link to thread https://forums.moneysavingexpert.com/discussion/2532927

Also here is Martin's thread on IVAs http://images2.moneysavingexpert.com/attachment/ivaGuide.pdf. Appears that they are suitable for only a few people.

If you do get CCJ court papers from Lloyds, there is a specific procedure that they have to follow. Please do post back because there are experts on here who know what it is and what to do next! Don't just accept that you owe the money therfore you must pay up [this does not mean that I am advocating that you avoid the debt: BUT you have a legal right to know that they followed the procedure correctly and the agreement they are claiming against is valid]

loupoppins

thanks NorthernLas I have only just come across that idea today whilst browsing here,so will definately look into that.
goingto try posting my soa...BUT
one thing I dont understand is how the CCCS has worked out how we repay each creditor. WE pay money to CCCS (by dd) and they pay our creditors...but they pay Northern Rock just £35 aa month when we owe them £17000 and yet we pay egg £93 a month when we only (only LOL) owe them £7000....why have they worked itlike that? Can we askthem to change that???
anyway...SOA

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 6
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 2763
Benefits................................ 550
Other income............................ 0
Total monthly income.................... 3313
Monthly Expense Details
Mortgage................................ 1007
Secured/HP loan repayments.............. 131
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 145
Electricity............................. 120
Gas..................................... 0
Oil..................................... 0
Water rates............................. 55
Telephone (land line)................... 39
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 9
Groceries etc. ......................... 500
Clothing................................ 75
Petrol/diesel........................... 250
Road tax................................ 30
Car Insurance........................... 71
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 100
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 11
Buildings insurance..................... 21
Contents insurance...................... 0
Life assurance ......................... 24
Other insurance......................... 15
Presents (birthday, christmas etc)...... 40
Haircuts................................ 10
Entertainment........................... 40
Holiday................................. 0
Emergency fund.......................... 40
Total monthly expenses.................. 2875

Assets
Cash.................................... 0
House value (Gross)..................... 205000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 207000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 174722...(1007).....0
Secured Debt.................. 10000....(131)......0
Total secured & HP debts...... 184722....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
lloyds loan....................23822.....147.......0
lloyds cc......................2747......38........0
egg cc.........................7000......93........0
cabot..........................2000......15........0
Total unsecured debts..........35569.....293.......-

Monthly Budget Summary
Total monthly income.................... 3,313
Expenses (including HP & secured debts). 2,875
Available for debt repayments........... 438
Monthly UNsecured debt repayments....... 293
Amount left after debt repayments....... 145
Personal Balance Sheet Summary
Total assets (things you own)........... 207,000
Total HP & Secured debt................. -184,722
Total Unsecured debt.................... -35,569
Net Assets.............................. -13,291
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

eta: the figures for monthly repayments are the lower ammounts we pay through the CCCS and not the contractual ammounts, which would obviously be much higher.

NorthernLas

Is the £293 what you pay to CCCS (you said it was £333 earlier)?
Have you accounted for the CCJ payments?

Happytogetdebtfree

Hi ... have you tried cutting the shopping list ? i know it might be hard with 6 kids.... can some get weekend jobs ? anything you can sell carboots etc etc ?? maybe you need to tell kids that some trips will have to be missed can you maybe lower your mortgage payments ?? or take a mortgage break xx

loupoppins

oops...got some figures wrong....try this:


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 6
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 2763
Benefits................................ 550
Other income............................ 0
Total monthly income.................... 3313
Monthly Expense Details
Mortgage................................ 1007
Secured/HP loan repayments.............. 35
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 145
Electricity............................. 120
Gas..................................... 0
Oil..................................... 0
Water rates............................. 55
Telephone (land line)................... 39
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 9
Groceries etc. ......................... 500
Clothing................................ 75
Petrol/diesel........................... 250
Road tax................................ 30
Car Insurance........................... 71
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 100
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 11
Buildings insurance..................... 21
Contents insurance...................... 0
Life assurance ......................... 24
Other insurance......................... 15
Presents (birthday, christmas etc)...... 40
Haircuts................................ 10
Entertainment........................... 40
Holiday................................. 0
Emergency fund.......................... 40
Total monthly expenses.................. 2779

Assets
Cash.................................... 0
House value (Gross)..................... 205000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 207000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 174722...(1007).....0
Secured Debt.................. 17957....(35).......0
Total secured & HP debts...... 192679....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
lloyds loan....................23822.....147.......0
lloyds cc......................2747......38........0
egg cc.........................7000......93........0
marlin ........................10000.....131.......0
cabot..........................2000......15........0
Total unsecured debts..........45569.....424.......-

Monthly Budget Summary
Total monthly income.................... 3,313
Expenses (including HP & secured debts). 2,779
Available for debt repayments........... 534
Monthly UNsecured debt repayments....... 424
Amount left after debt repayments....... 110
Personal Balance Sheet Summary
Total assets (things you own)........... 207,000
Total HP & Secured debt................. -192,679
Total Unsecured debt.................... -45,569
Net Assets.............................. -31,248
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

God, just going through the papers its all SUCH a mess. More fool me for leaving DH to sort it so far....

so, out of above debts Northern rock have a CCJ and Charging order (hence me putting it under secured loans)against us. We still pay them through the CCCS
Marlin have a CCJ but NO charging order. For reasons I'm not clear of we pay them seperately by standing order and not through CCCS

LLoyds is now persuing a CCJ in respect to the loan I think. Not clear why now when they have accepted our payments up till now???

loupoppins

Ok, yes I DO need to cut the shopping bill. I try very hard.Bake my own cakes and bread, grow my own veg,shop late for reduced stuff etc... Feeding 8 people aint cheap though LOL But must make more of an effort....
I do ebay and carboot when I can...but will try harder!
Cant send ds on paper round-he travels a long way to school,and has lots of homework ect...wont have him pay for my mess!