A sorry state of affairs....

MrsNotAPenny

Thank you!

I'm just heading to your new diary, it's been that long! Hope you're well :0)

Keeping_Positive

Hello :wave:

Congrats on new baby boy xx

Pinky15

Congratulations on the new baby - hope you are well!:)

MrsNotAPenny

**sneaking back into MSE, sheepishly, with more debt and less a Husband**

Sigh.

Here I am, again, a year since I first started my diary. I've found myself in a position I never thought I would be, seperated unemployed Mummy.

No great dramas in my seperation, just one of those things, thankfully my husband and I are still on speaking terms (and he is contributing towards the kids) Unfortunately, ALL of our debt is in my sole name My own damned fault.

I've come back now as I absolutely must must must shift this debt, alone. My lightbulb is shining brightly

Our benefits have all been sorted now, with the exception of Healthy Start Vouchers, which will make a huge difference, £9.30 per week to spend on milk/formula and fruit and vegetables.

I'm going to get together a 'potential' SOA, because I've not been receiving anything yet (it all starts from September)

Another heavy, sad sigh.

mooomin

Oh I'm so sorry to hear that

I'm still about (was debt-free at Christmas, just took out a loan to buy a car) and will be for the forseeable future, so happy to give you SOA the once-over if needed.

Remember, if you're in the Edinburgh area any time and fancy a coffee/chat/moan then give me a shout.

Take care. Xxx

MrsNotAPenny

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 814
Other income............................ 200
Total monthly income.................... 1014
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 31
Management charge (leasehold property).. 0
Council tax............................. 33
Electricity............................. 48
Gas..................................... 68
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 150
Clothing................................ 25
Petrol/diesel........................... 20
Road tax................................ 0
Car Insurance........................... 21
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 55
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 563

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4400
Other assets............................ 0
Total Assets............................ 4400

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
LOAN...........................5687.77...105.......6.4
CC.............................3909......79........16.9
OD1............................300.......5.........0
CAR............................5950......156.......5
ELECTRICITY....................287.23....27........0
GAS............................328.......27........0
TAX CREDITS....................249.......21........0
SOFA...........................890.......41........0
OD2............................1200......10........0
Total unsecured debts..........18801.....471.......-

Monthly Budget Summary
Total monthly income.................... 1,014
Expenses (including HP & secured debts). 563
Available for debt repayments........... 451
Monthly UNsecured debt repayments....... 471
Amount short for making debt repayments. -20
Personal Balance Sheet Summary
Total assets (things you own)........... 4,400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,801
Net Assets.............................. -14,401

Ok, not as dire as I thought. Luckily, I'm not paying interest on everything (utilities arrears, tax credits, sofa)

The car is something I can't afford to keep. Under my credit agreement, I can sell the car and pay off the finance. However, the settlement figure up until 1/9/2011 is £5,117 (I'll get a reduction in total for early settlement apparently) The most I'll get, according to a couple of garages is £4,400. I'm relcutant to sell privately because it is due a service and therefore the warrenty is not vaild until this is done, which I can't afford.

Leaving me a shortfall of approx £517, which I'd have to find because they want the full amount if I sell (won't be able to pay-up the outstanding) However, if I keep the car until Feb 2012, I can voluntarily terminate the agreement and the finance company reclaim the car and that's it, end of.

So, I'll have six months of payments to make, totalling £936. Car insurance isn't expensive (£21) and I could cut petrol right back to £10/£15. It's taxed until Feb and it doesn't need an MOT. Looking at the 'SOA' I could manage for the next 6 months financially and I wouldn't have the stress of selling (using my potential emergency fund and when the HSV come will free up £60 pm)

If I did sell to the garage, I'd have to find £500+, I'd also probably have to pay to get out of my insurance agreement if I sold. It would also mean having to get a double buggie (which I won't need if I keep it until Feb, Toddles will be almost 3 and Baby 1) and a bus pass (which I'll have to get anyway I suppose)

I don't know what's best to do about this. I have a feeling I'll probably keep hold of it, mainly for an easy life There's some huge adjustments happening the now, obviously (we have survived our first Sky-Free day!)

Entertainment is high, but this is for my slimming club (I'm only about 14lbs from target, if I stop going it will all go back on and I get some time away from the house) and 'saving' monthly for Toddles Football at the sports centre.

Gas and Electricity are high, I need to check our useage (which is based on family of 4 anyway) That's on my 'list of things to do'

Groceries is including formula and nappies, I probably don't/won't spend that much, more a budget figure.

Goodness that was a ramble!

MrsNotAPenny

flying_fresian wrote: »

Oh I'm so sorry to hear that

I'm still about (was debt-free at Christmas, just took out a loan to buy a car) and will be for the forseeable future, so happy to give you SOA the once-over if needed.

Remember, if you're in the Edinburgh area any time and fancy a coffee/chat/moan then give me a shout.

Take care. Xxx

Thank you lovely

I was over on Tuesday, had some childfree time and randomly jumped on the train. I was hoping to catch some of the Festival, but it was pouring with rain, I just walked Princess Street and up through Rose Street, alone, in the rain! Woe is me!! (i secretly enjoyed it though, and avoided buying myself lunch or anything else!) :rotfl:

mooomin

MrsNotAPenny wrote: »

Household Information[/b]
Total monthly income.................... 1014

Monthly Expense Details

Rent.................................... 31
Council tax............................. 33
Electricity............................. 48
Gas..................................... 68 Power bills monthly seem high, are you on card meter or does it include arrears?
Telephone (land line)................... 20 Needed? I rarely use mine as I use my mobile for most things
Mobile phone............................ 30 Can this be reduced? Contract or PAYG?
TV Licence.............................. 12
Internet Services....................... 0 No internet?! *faint*
Groceries etc. ......................... 150
Clothing................................ 25
Petrol/diesel........................... 20
Car Insurance........................... 21
Contents insurance...................... 0 You need this.
Presents (birthday, christmas etc)...... 20 Are you putting this aside monthly or just guesstimating? At least with the LittlePennies being wee they don't need expensive toys
Haircuts................................ 10
Entertainment........................... 55
Emergency fund.......................... 20
Total monthly expenses.................. 563

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4400
Other assets............................ 0
Total Assets............................ 4400

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
LOAN...........................5687.77...105.......6.4
CC.............................3909......79........16.9
OD1............................300.......5.........0
CAR............................5950......156.......5
ELECTRICITY....................287.23....27........0
GAS............................328.......27........0
TAX CREDITS....................249.......21........0
SOFA...........................890.......41........0
OD2............................1200......10........0
Total unsecured debts..........18801.....471.......-

Monthly Budget Summary
Total monthly income.................... 1,014
Expenses (including HP & secured debts). 563
Available for debt repayments........... 451
Monthly UNsecured debt repayments....... 471
Amount short for making debt repayments. -20 Stop paying into your emergency fund and this is taken care of
Personal Balance Sheet Summary
Total assets (things you own)........... 4,400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,801
Net Assets.............................. -14,401

Couple of my thoughts above.

What are you doing for extra income that won't affect your benefits? You could do surveys and earn Amazon vouchers which would help offset Christmas/birthday costs. It's free listing on Ebay this weekend - get some stuff sold

MrsNotAPenny

The gas/electricity are my priority on Monday, when the Littles are away. I'm not putting the emergency funds away, it was just a guess, landline/internet combined £20 - I thought about getting rid of landline, but I was worried something might happen and I'd need to call someone and my mobile didn't work - crazy I know!

I'm tied to the £20 present money until October, Love to Shop wouchers.

________________________________________________________

I am totally focused the now on making money. Paypal has £12 in it, which I made on eBay last weekend (annoyed to find this weekend is free lisitng when I logged on today!) Quidco £18.32. 'Life Savings' (aka The Chenge Jar) has a stonking £45 in it (I'm still to count the coppers) there's £40 stashed away in a mug (Husband gave me extra this month, I think I must have looked a bit like I was needing cheered up!) I did a few hours cleaning, a month of so ago, the manager hasn't paid me so I'm going to call on Monday, should be around £30.

I'm car booting next weekend, lots of baby clothes, moses basket ect. I had my wedding dress on Gumtree, but no serious interest. I have my rings (worth quite a bit) but my seperation is still recent, I'm still wearing them (we won't be back together, so I'm not being a crazy dillusional Ex by wearing them, I just like them!) and I'm not ready to part with them, yet!

I'm going to catch up with your diary in the morning FF, you are lovely and helpful

MrsNotAPenny

Lol!

I had to log back on, last year my debts were £18,917. This year they're standing at £18,801.

Making my total debt repayment from August 10-August 11,a grand total of......

£116

Oh yeah! A sorry state of affairs indeed!

If my debt didn't increase with interest, at the rate I'm going, I'll be debt free by 2173!

I need a drink!