Today was my lowest point...facing up to it - SOA

Hannah_10

Thank you Gem and Keeping Positive

This is the Bert one KP likes HERE

debtfreein5

Thanks to you all for your comments and suggestions. Its all one step at a time but I am getting my head around taking the hit on the credit file.

Thanks again - no tears today, and more importantly no increase in the debt!

MFWannabe

Hi debtfree
Glad you're okay and have posted again; was getting a bit worried about you x

Hannah_10

Whenever you're ready with a joint SOA we are here to have a good look and help you with a way forward if you want it

onto_a_new_page

[FONT=&quot]Hi there, [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Its my first time that I am writing on this forum and I am another person that has faced up to the SOA. I hope you can give me some great advice like you gave to debtfreein 5 which can hopefully send me in the right direction. [/FONT]J[FONT=&quot] [/FONT]
[FONT=&quot]Below is my completed SOA. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Two years ago I moved overseas from the UK, I still live abroad and don't intend to return to the UK any time soon. During my move, I spent several thousands of pounds on my credit cards (Virgin credit card and Barclaycard) to pay for the move and also stuff like furniture etc. I was repaying the debt for awhile regularly from overseas with minimum payments or a few pounds more, but this was a bit pointless as my debt was not decreasing at all with the interest they were charging me. Then my partner lost his job and I really didn't have money to spare. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Being out of the UK, I tried to forget about it and didn't make any payments in the last 6 months but I knew I had to eventually sit down and sort it out. Yesterday I got all my 6 old month post that my ex flat mate posted me (still goes to my old UK address) and with a glass of wine I saw the real situation. [/FONT]
[FONT=&quot] [/FONT]
- [FONT=&quot]1700 on barclays allowed overdraft – ok for now. [/FONT]
- [FONT=&quot]2100 on virgin mastercard with threats they will take me to court letter [/FONT]
- [FONT=&quot]1900 on barclaycard with threats from mercers, court, default.. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]As I didnt pay the last 6 months I was planning to pay in a few days 280 pounds into barclays and 450 into virgin for missed payments in the last 6 months (i have this much) and then send them a letter asking to decrease some of the costs as I won't be able to pay much more after I pay that lump sum. I have a car loan that I took overseas and that is my debt I have settle first as I at least want to have good credit history overseas since my UK one has taken a downturn, plus a car is necessary for my work. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]I would also like to give the banks my new address overseas but I am too scared that they will sell my debt to someone that is located here and I really can't take any more stress or have people coming to my door...[/FONT]
[FONT=&quot]Any advice would be helpful and sorry for the long post! [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]P.S. These costs are all in Euro but I've calculated everything in sterling on the SOA below. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Thanks! [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot][tt]Statement of Affairs and Personal Balance Sheet[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Household Information[/FONT]
[FONT=&quot]Number of adults in household........... 2[/FONT]
[FONT=&quot]Number of children in household......... 0[/FONT]
[FONT=&quot]Number of cars owned.................... 1[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Monthly Income Details[/FONT]
[FONT=&quot]Monthly income after tax................ 820[/FONT]
[FONT=&quot]Partners monthly income after tax....... 0[/FONT]
[FONT=&quot]Benefits................................ 0[/FONT]
[FONT=&quot]Other income............................ 0[/FONT]
[FONT=&quot]Total monthly income.................... 820[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Monthly Expense Details[/FONT]
[FONT=&quot]Mortgage................................ 0[/FONT]
[FONT=&quot]Secured/HP loan repayments.............. 163[/FONT]
[FONT=&quot]Rent.................................... 0[/FONT]
[FONT=&quot]Management charge (leasehold property).. 0[/FONT]
[FONT=&quot]Council tax............................. 0[/FONT]
[FONT=&quot]Electricity............................. 40[/FONT]
[FONT=&quot]Gas..................................... 0[/FONT]
[FONT=&quot]Oil..................................... 0[/FONT]
[FONT=&quot]Water rates............................. 0[/FONT]
[FONT=&quot]Telephone (land line)................... 25[/FONT]
[FONT=&quot]Mobile phone............................ 35[/FONT]
[FONT=&quot]TV Licence.............................. 0[/FONT]
[FONT=&quot]Satellite/Cable TV...................... 15[/FONT]
[FONT=&quot]Internet Services....................... 14[/FONT]
[FONT=&quot]Groceries etc. ......................... 200[/FONT]
[FONT=&quot]Clothing................................ 40[/FONT]
[FONT=&quot]Petrol/diesel........................... 60[/FONT]
[FONT=&quot]Road tax................................ 27[/FONT]
[FONT=&quot]Car Insurance........................... 11[/FONT]
[FONT=&quot]Car maintenance (including MOT)......... 10[/FONT]
[FONT=&quot]Car parking............................. 0[/FONT]
[FONT=&quot]Other travel............................ 0[/FONT]
[FONT=&quot]Childcare/nursery....................... 0[/FONT]
[FONT=&quot]Other child related expenses............ 0[/FONT]
[FONT=&quot]Medical (prescriptions, dentist etc).... 35[/FONT]
[FONT=&quot]Pet insurance/vet bills................. 0[/FONT]
[FONT=&quot]Buildings insurance..................... 0[/FONT]
[FONT=&quot]Contents insurance...................... 0[/FONT]
[FONT=&quot]Life assurance ......................... 0[/FONT]
[FONT=&quot]Other insurance......................... 0[/FONT]
[FONT=&quot]Presents (birthday, christmas etc)...... 10[/FONT]
[FONT=&quot]Haircuts................................ 10[/FONT]
[FONT=&quot]Entertainment........................... 50[/FONT]
[FONT=&quot]Holiday................................. 0[/FONT]
[FONT=&quot]Emergency fund.......................... 0[/FONT]
[FONT=&quot]Total monthly expenses.................. 745[/FONT]
[FONT=&quot][/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Assets[/FONT]
[FONT=&quot]Cash.................................... 0[/FONT]
[FONT=&quot]House value (Gross)..................... 0[/FONT]
[FONT=&quot]Shares and bonds........................ 0[/FONT]
[FONT=&quot]Car(s).................................. 4000[/FONT]
[FONT=&quot]Other assets............................ 500[/FONT]
[FONT=&quot]Total Assets............................ 4500[/FONT]
[FONT=&quot][/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Secured & HP Debts[/FONT]
[FONT=&quot]Description....................Debt......Monthly...APR[/FONT]
[FONT=&quot]Mortgage...................... 0........(0)........0[/FONT]
[FONT=&quot]Hire Purchase (HP) debt ...... 3200.....(163)......9.9[/FONT]
[FONT=&quot]Total secured & HP debts...... 3200......-.........- [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Unsecured Debts[/FONT]
[FONT=&quot]Description....................Debt......Monthly...APR[/FONT]
[FONT=&quot]virgin mastercard mbn..........2100......39........23[/FONT]
[FONT=&quot]barclaycard....................1900......33........18.5[/FONT]
[FONT=&quot]barclays ......................1700......10........5[/FONT]
[FONT=&quot]Total unsecured debts..........5700......82........- [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot][/FONT]
[FONT=&quot]Monthly Budget Summary[/FONT]
[FONT=&quot]Total monthly income.................... 820[/FONT]
[FONT=&quot]Expenses (including HP & secured debts). 745[/FONT]
[FONT=&quot]Available for debt repayments........... 75[/FONT]
[FONT=&quot]Monthly UNsecured debt repayments....... 82[/FONT]
[FONT=&quot]Amount short for making debt repayments. -7[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Personal Balance Sheet Summary[/FONT]
[FONT=&quot]Total assets (things you own)........... 4,500[/FONT]
[FONT=&quot]Total HP & Secured debt................. -3,200[/FONT]
[FONT=&quot]Total Unsecured debt.................... -5,700[/FONT]
[FONT=&quot]Net Assets.............................. -4,400[/FONT]

Triker

Hi onto a new page

Welcome to MSE and DFW...You'd probably be best posting your own thread, that way more people will spot your post instead of it being hidden in someone else's.

onto_a_new_page

Hi there and thanks for the welcome!! I have started my own post, but I can't post the link as I am a new user, the post is called faced up to the soa, advice needed...

debtfreein5, how are you doing?? xx

jillby

Hannah you are a genius! im new to this forum and im amazed just how many people are out there offering advice.What a wonderful site!

byrnedolly

Hi,Marisco, I already have ''those '' lightbulbs everywhere, and I switch off when leaving the room. As for the washing up, it costs me more to use the hot water as it is powered by oil central heating, so I will have to stick to my dishwasher, thanx anyway. I rang my electricity company, and it turns out I use a lot less than what they charged me, so now my DD has gone down, and I am in credit for the winter.