Long Haul or Do Up House??

Polly_Wolly_Doodle

Thanks for posting,

P&F, yup i've got that mix of feeling both relieved and scared. Dh is in a pretty negative place but like most things i've been posting and reading here and have had more time to think and accept the situation. I know at the beginning i thought / wanted to pay everything off properly but we got to a point where we couldn't and can i say thank God for CAB and nationaldebtline they have been sooo helpful.
Are you on the road to recovery??

Howstupid, i have contacted my professional body (ACCA) and they just said to write in with the circumstances and they will judge from there. I have my fingers crossed that they would rather have me paying my subs than lose the income! I think now BR is a lot more common than 40 years ago when there would probably have been an element of fraud or double dealing, nowadays we've been offered credit but not the education to manage it.
My work contract says nothing about financial difficulties or BR, i have gone through it with a fine toothed comb!

Right need to go and wash up so that DH can make his own b'day cake - evil wife!!

Woowoo

Morning PWD

Hope your feeling ok today?

I know it must feel terrifying at the moment, but you have done the right thing x

peaceandfreedom

Polly_Wolly_Doodle wrote: »

P&F, yup i've got that mix of feeling both relieved and scared. Dh is in a pretty negative place but like most things i've been posting and reading here and have had more time to think and accept the situation. I know at the beginning i thought / wanted to pay everything off properly but we got to a point where we couldn't and can i say thank God for CAB and nationaldebtline they have been sooo helpful.
Are you on the road to recovery??

No, Polly, I'm not in a great place at all at the moment and I feel in a sort of limbo at the moment. But I do identify so much with that feeling of looking at other people and wondering how they're doing. Or in my case, looking at other people and just feeling jealous.

Anyway, enough about me, how are you and DH doing?

Polly_Wolly_Doodle

Morning everyone,

Just a quick update, have now received the figures from the IP and we've to pay £350 a month, which is their calculation of our surplus income, which when i think we were paying mins to ccs of £1800, £150 a month for DH's car and £400 for my loan i can really see how far off a liveable budget we were and why we'd got to the awful stage of really struggling.
Still have the mortgage and the secured loan to cover and the mortgage is still interest only which is a worry but we can change it back to repayment after we're clear of the IP payments in 3 years.

We're not allowed savings accounts or anything beyond the co-op basic account but i don't want anything, although it would have been good to have had a savings a/c to stash away the monthly amounts for annual spends, like the blasted oil, as i don't really like the idea of lots of cash in the house and i'm not sure if i can stand the temptation of a big balance in the one a/c but will have to!

Very strange having money actually, have bought middle child a bedframe from a charity shop £30 and a Sofa Workshop sofa for £30 from the same place, looks in very good shape, so at least we'll have something more comfortable than the springs that the dog exposed in the old one. Will probably try and get it restuffed and covered at some point, can get a quote at least!!

So todays task is to look for a new mattress for the second hand bed:money:

Herewego

Well done good to see the figure is realistic im sure the time will fly by.

pennywisepoundstupid

Hi hun, your coping really well and as Herewego said 3 years will fly by, just think it doesn't seem 6 months since christmas as the months have flown by, so i'm sure 3 years will also go quickly.

Not sure what you are allowed to do but could you open a basic account with someone and then give the bank card to family so you can't get to the money unless you really need it, eg for the car.

Eager_Elephant

pennywisepoundstupid wrote: »

Not sure what you are allowed to do but could you open a basic account with someone and then give the bank card to family so you can't get to the money unless you really need it, eg for the car.

As far as I am aware you are only allowed one bank account and no savings accounts until you are discharged (usually 1 year).

Is the account you use in joint names or single name - if it is single then maybe the other one of you can open a basic account as it is one each.

EE

choogirl

Hi Polly

Glad you've finally got a figure sorted out, that must be a weight off your mind.

I don't have any suggestions about the cash really apart from what Eager Elephant suggested which would be to open a new Co-op account in DH or your name if you're allowed to.
When I was in the Post Office the other day I noticed that you can save money onto cards to pay for road tax etc, I don't know if that would be any good to you or if you're allowed to do that but it might be worth having a look.

Take care xxx

Polly_Wolly_Doodle

Thanks everyone for the suggestions, i think it's just getting the mindset of keeping the money back for the big spends. Sort of thinking about it in virtual jamjars!
So we're taking out cash and really keeping it in seperate jamjars for diesel, petrol, dog food, food, rail fare, school lunches and school breakfast club, so that's fine. And i have got a spreadsheet with the amounts i need to keep back for the annual spends, oil, car servicing / insurance / mot / tyres and the house insurance, summer holiday club for the children, etc etc. However because we've only been doing this for a couple of months we've already had to borrow from say the oil pot to pay for the road taxes and this is where it gets tricky, but i think it just needs a few months to settle, although this month my car's mot is due and the brake warning light is on, so it will be money that isn't in the jamjar.

Anyway not meaning to moan, relieved it's sorted, just keeping my professional qualification to worry about now:eek:

I think we can open additional basic accounts with the co-op, so i might look into that but probably just need to make my spreadsheet as simple and user friendly as possible.

DH still doing really well on keeping the food budget low and i'm doing well with my diesel, which is why there's been odd bits of money for the second hand bed frame and the sofa, just keep your fingers crossed they arrive on Tuesday!

PWD xx

Polly_Wolly_Doodle

Sofa and bed frame arrived and i'm really pleased, the sofa is off white and i honestly can't see anything wrong with it - can't believe my luck:j
Bed frame is fine, pretty basic but sturdy and for a 5 year old that's just fine! Went to Ikea and quite like some of the mattresses there, so will get DH to go and buy one later with his bigger boot. Bought a couple of sheets and a duvet cover, i really like Ikea's bedlinen as it's 100% cotton and it's sooo cheap:money:

Now need to photograph the cot and get it on ebay and we're good to go. Quite attached to the cot as all three have been in it but no point in keeping it as i hope DD won't need it too soon:eek:

Like everyone else been trying to dry washing outside but it's been hail and lightening this afternoon, so the tumble dryer is on

Right better go and do something useful.