First post and some major debt help needed!!Please

gtyrel

Ive_A_Horse_Outside wrote: »

Your ex may ask for his ring back (presuming he paid for it) so I wouldnt count this as an asset....

By law it is my ring he can ask for it back but i have no need to give it to him and considering he walked out on me and has left me with all of our debt, the credit card was entirely his debt.i think it would be some cheek to ask for it back haha

parkmalco

ebay is the best and cheapest way to sell your car,they do a classified ad for £15 which lasts for a month.
i have sold 2 cars with ebay no problem.
check to see how much your car is worth on whatcar.com,they give you part ex price ,private sale price,dealer price.then check ebay prices on similar cars with the same spec to get a realistic value of your car.
don't price your car to low to get rid of it quickly as it can make buyers suspicious.
everyone wants a bargain and expect to knock a few quid off at haggleing stage.

gtyrel

beachie wrote: »

Hi,

You earn roughly about the same as me and I have a £4k loan which I am paying back more per month than you.

Looking through your expenses I would say what you are on and the expenses you have can be done.

You need to take each month by itself and aim to remain in the positive.

As long as you are paying off some of the loan each month you are getting towards a better place.

I pay around £193 car loan, £200 credit card and £450 mortgage as well as all the other bills all out of my £1300 so it really is possible.

Before my partner and i split up my loan payment was £250 a month so i only had two years left, but because of all the extra bills i had to get the bank to extend the period of my loan to half the payments.

well from doing all the soa things it looks like a month i have £147 left after all my bills and expenditure. i just worry if i use that £147 to put towards my bills then i will have nothing left in the bank if something happens.

thanks again tho for your ideas and suggestions

nic_santorini

have you tried your local council carshare scheme? Or your work one, we have one in Kent and it works really well and saves us a fortune. My husband travels to work with two others (80 mile round trip) and we have saved over £100 per month in fuel. Have a look online they might have something in your area. Also, no obligation try https://www.webuyanycar.com they were actually only £600 off the price a dealer gave me in part exchange for mine when I sold it. The depreciation on your vehicle will keep going the longer you keep it. Try the website, you don't have to sell it and it will give you a ball park figure to think about and save you selling your engagement ring so early on. Hope this helps a little

Ive_A_Horse_Outside

gtyrel wrote: »

By law it is my ring he can ask for it back but i have no need to give it to him and considering he walked out on me and has left me with all of our debt, the credit card was entirely his debt.i think it would be some cheek to ask for it back haha

Easy tiger ;-) I dont know the legalities of that I was only saying I wouldnt include it as an asset (to help pay off your debts) as he may come back looking for it....

gtyrel

Ive_A_Horse_Outside wrote: »

Easy tiger ;-) I dont know the legalities of that I was only saying I wouldnt include it as an asset (to help pay off your debts) as he may come back looking for it....

Hi, sorry i wasnt being snappy sorry if you thought i was. He has asked for it back but i have not given him it back and by law it is an unconditional gift, not a gift on condition of marriage. if i gave it back to him it would be because i wanted to, also we were engaged for 2 years so its been stuck on my hand for quite some time.

i only included it as an asset because i thought that soa was just to list everything, it was never intended as an asset i want to sell to clear off my debts, it still means to much to me. sorry again :-)

gtyrel

nic_santorini wrote: »

have you tried your local council carshare scheme? Or your work one, we have one in Kent and it works really well and saves us a fortune. My husband travels to work with two others (80 mile round trip) and we have saved over £100 per month in fuel. Have a look online they might have something in your area. Also, no obligation try they were actually only £600 off the price a dealer gave me in part exchange for mine when I sold it. The depreciation on your vehicle will keep going the longer you keep it. Try the website, you don't have to sell it and it will give you a ball park figure to think about and save you selling your engagement ring so early on. Hope this helps a little

Hi, thanks for your advice, i just tried webuyanycar the now. but it seems to be coming in at nearly £1300 less than i have seen my car for sale privately. But i guess if i cant get it sold privately i might just need to take the loss and sell it to them.

Thanks again for all your suggestions.

Katie-Kat-Kins

gtyrel wrote: »

Before my partner and i split up my loan payment was £250 a month so i only had two years left, but because of all the extra bills i had to get the bank to extend the period of my loan to half the payments.

well from doing all the soa things it looks like a month i have £147 left after all my bills and expenditure. i just worry if i use that £147 to put towards my bills then i will have nothing left in the bank if something happens.

thanks again tho for your ideas and suggestions

Well why not wait until your pay goes in to the bank, then pay across £100 to pay off toward your credit card. Then put £45 in an instant access savings account or spare bank account so it is out of the way of temptation but still there if you are really stuck. Then at next payday if it is still there pay it off your credit card.

That would mean that you always have a £45 buffer but most months would be able to pay over the full £145 to the credit card.

If you put the buffer in another account you won't spend it just because it is there, it should be strictly for emergencies only and hopefully you will think carefully before you break into it.

I would keep a track of your debt so that you can see it decreasing.

I would also keep a track of your budget and if you are under on any of your budgeted items any month then you can pay the extra over. So if you save on your groceries, or don't go out, or do your waxing at home your "reward" is paying an extra chunk off your debt.

If you want to spend extra you have to save it elsewhere in your budget, so if you want to go out an extra time you have to cut down in another area.

Don't be afraid to tell people "I can't afford it" if you are being pestered to go out for lunch or something be honest, say that you are skint because of your break up/being unable to sell the car and so it is no offence but you won't be going out.

Ive_A_Horse_Outside

gtyrel wrote: »

Hi, sorry i wasnt being snappy sorry if you thought i was. He has asked for it back but i have not given him it back and by law it is an unconditional gift, not a gift on condition of marriage. if i gave it back to him it would be because i wanted to, also we were engaged for 2 years so its been stuck on my hand for quite some time.

i only included it as an asset because i thought that soa was just to list everything, it was never intended as an asset i want to sell to clear off my debts, it still means to much to me. sorry again :-)

no probs at all. good luck with it all ;-)