Idiotic amount of debt. Please help

Money_mark

Hi all,

Firstly apologies. I've read through some of the thread and know you get a lot of people asking the same questions. Sorry to repeat thembut I really need somewhere to turn.

Driving home today I actually thought I was going to pass out. I've worked out that I have £36000 of debt and I'm completely insolvent.

I earn around £1550 a month, pay £420 a month rent, £90 car insurance, £50 0n petrol, £40 on my phone, £150 0n utilities, £120 on food, £50 0n open university courses and then over £600 on debts.

I't feels like I'm living hand to mouth. I just had my bank account closed. I'm scared to death that I'll never be able to start a faily because I'll always have this stone.

I feel such a fool for getting into this situation and all I want is to work my way out. Everyday I see my friends moving on with their lives and I honesty can't see how I can escape it. I'm living in a hell hole of a house and it's affecting my work and studies.

I am conidering an IVA but I'm scared that will ruin my chances of ever being able to buy a house. I was asked out on a date by a girl I'm practically in love with, but turned her down because I knew I wouldn't be able to afford to take her anywhere, and couldn't tell her my situation.

It's ruining my life, and I need to get back in charge. I don't even feel like I'm living in the real world anymore. I just want to grab myself and shake myself out of it.

I'm just so ashamed.

I know it all sounds so pathetic, but I promise I'm not looking for pity. I accept it's my fault I'm in this situation. I just need some advice to claw my way out before it's too late.

Thanks

Mark.

Ruby_Pudding

Mark, other people with far more experience and words of wisdom will be along in a short while but I just wanted to say you have taken a HUGE step forward by posting on here tonight. The road ahead will be difficult but you are about to tap into a wealth of information and support here - more than you ever thought possible. I hope some of the following replies bring some comfort to you and you begin to face up to what needs to be done to get yourself back on track

RP

Dolly_Smith

hi there - don't feel ashamed, we've all done it (and some to a much larger extent than you!)

post up a list of your debts with their balances, aprs, minimum payments, etc.

and any girl worth their salt wouldn't care too much about debt - I know I didn't!!!

Money_mark

Thanks,

I'm going to go through all the paperwork I have to try to map it out.

KatrinaC_2

Hi Mark,

welcome to DFW!

As everyone else has said, put up a statement of affairs (look at the sticky at the top of page 1 for instructions) and we'll see what we can do to help. I bet we can get something sorted out, even if it's just working out a cheap way to take the girl of your dreams out somewhere cheap but that looks expensive.

Kat

Biffa

Hi and welcome to MSE!

Please post a full SOA so we can have a better look. Then get yourself a cup of tea and a bar of chocolate (always works for me) and we'll have a look to see if we can help.

Mrs_Sparkle

Hi Mark and welcome, you've come to the right place. First thing you need to do is pop your full SOA on here- see the sticky by Southern Scouser at the top of the page- and we'll have a look and see if we can trim outgoings down a bit for you.

Stop feeling ashamed- there are plenty of us here in the same boat. You're doing the right thing now by facing up to it.

Oh, and don't lose out on that girl you really like- she could be The One. We can suggest loads of cheap/free things to do and romance doesn't cost anything.

Sending you a big hug because you sound like you need it.

C

Hello

Awww poor you. Well done for facing up to reality and welcome to the board. The first step is to write everything down, which is by far the scariest thing to do, but also the best thing because it means you are in charge again. As Biffa suggested (and Mrs Sparkle, cross posted!), post your full SOA and I am sure the bods on here will be able to help.

Good luck

Hello
x

Money_mark

Thanks everyone,

It's nice just to talk about it to someone. I've never dared mention it to anyone before.

I've got to go back into work for a couple of hurs but put the SOA together and log back on in a little while.

Thanks again

LittleL_4

Mark first of all take a few deep breaths, you're not alone, most of us on this site have been and have felt what you're feeling. There is help out there if you're feeling overwhelmed. You have options ahead of you but first of all post an SOA. You've taken the first steps tonight and it will get better from now on. They're a great bunch on here so stick around

L
x

mjh1977

Hi Mark

The figures you give describe only basics not your actual spending. On that basis you're in profit. Can you give us the lowdown by posting an SOA (statement of affairs) so we can help. My advice based on your figures so far is not to panic!

M