I'm sinking now....can't manage the debt now...

debtCollector_3

cathybird wrote:

hi debtcollector, just looked up "income benefit assurance" & it says it's a kind of life insurance. That almost certainly means that you wouldn't get anything back if you cancelled it. At £3.20 a month it's not very expensive, I suppose, but presumably that means that your family would not be able to claim very much on it either - you might want to find out how much & decide if it's really worth it

You're right just have a look online too, the policy pays £1250 quarterly if I die........ !!!!!!!!.... then it won't be much use to me... LOL!

Thought if I could get cash back on it then I could pay council tax.......

cathybird

debtCollector wrote:

You're right just have a look online too, the policy pays £1250 quarterly if I die........ !!!!!!!!.... then it won't be much use to me... LOL!

er, not you personally, no :rotfl: :rotfl: :rotfl:

cathybird

the thing is £3.20 might be useful to your family in those difficult circumstances, but right now money is extremely tight with you and you need every penny. I guess you could discuss it with your partner and see if they feel there's a need for it...??

debtCollector_3

cathybird wrote:

the thing is £3.20 might be useful to your family in those difficult circumstances, but right now money is extremely tight with you and you need every penny. I guess you could discuss it with your partner and see if they feel there's a need for it...??

I think i might just keep it, I don't have a partner, just me and my debt... and now this place

livinginhope

Evening DC,just wanted to pop back and say hi to you after last night.
well done on all you have managed to get done today,you really seem to have been busy.
Don't worry about how long the debt will take to clear,my DMP with Payplan is set to run for 58 years,but at least we can live a fairly normal life.
I think telling your sister could well be a good idea,having someone to confide in when things get too much will help you to not let the debt take over your life.
Looking at your new SOA,I don't think a remortgage would be an option,there just isn't enough income to justify it,sorry.
Like Payplan,I still think the car is the killer,£92 car insurance is huge :eek: ,mine only costs £14.40/month,added with the loan,I think this is the biggest downfall.
Regarding selling up,I know how it feels to not want to sell,but would it really be that bad? talk to the kids,tell them how bad things are,you'd be amazed at how well they take it.
Best of luck
LIH

debtCollector_3

Hiya LIH

last nite sure was an eye opener, but glad I posted on the forum, feels like most of my weekend has been spent talking about my debt...

I'm now not worry how long it will take to clear debt, I just want to have manageable debt, without having it constantly on my mind.

The idea of the remortgage is to combine my sercure loan and mortgage into one smaller payment, although I'm not holding out on that..

I don't know what to do about car, if I sell it I still have the loan as for the car insurance, I can't take my son off it cos he paid me the money which I should have paid the insurance with but instead done monthly payments and used cash to pay bills. :mad: I'll look on confused.com see if i can get a cheaper quote.

I don't think kids would take it too well if I was to sell up, and I don't think my parents would allow me........ well it wouldn't be their desicion but they wouldn't be happy for me to sell house.....

I now feel that I'm making excuses to not make my situation better

livinginhope

debtCollector wrote:

The idea of the remortgage is to combine my sercure loan and mortgage into one smaller payment, although I'm not holding out on that..

I don't think kids would take it too well if I was to sell up, and I don't think my parents would allow me........ well it wouldn't be their desicion but they wouldn't be happy for me to sell house.....

I now feel that I'm making excuses to not make my situation better

Thanks for making that clear,I thought you were going to try and add to your mortgage,you never know,they may get a better deal for you.
Selling your house has nothing to do with your parents,and I think if they knew what situation you are in they would actually suggest it.However,selling is your decision and like me you are determined not to sell,it is your home at the end of the day.
You are not making excuses to not change your situation,your reactions are totally normal,but if we don't ask or suggest these things,we don't know how you feel about it.
Glad to see you are still posting and we haven't frightened you off.
LIH

debtCollector_3

livinginhope wrote:

Like Payplan,I still think the car is the killer,£92 car insurance is huge :eek:

Got new car insurance quote £66 that's much better, just have to wait till pay day to change insurer....... or will the other insurer charge me for cancelling?

debtCollector_3

Tustastic wrote:

Hello debtCollector, I've just come over to see how you are and I am so impressed with everything you have done over the space of a weekend, with all the experienced advice from others. Well done, well done.
I did notice you posted a couple of expenses paid for by your son. Those bills look high, and I wondered maybe you should set your son a project to shop around for better phone and internet deal, and to review the Sky package?
Then maybe there could be a bit of a family conference about whether to keep any of the Sky package and if so, what part of it.
You would be getting them thinking in a MoneySaving way about getting the best deals for the things they need/enjoy.
"SKY DIGITAL ! £46.00
Telephone and internet £85.00

However my son's pays those bills....."

You're right, I've already started telling them how to save money and what a mess I am in cos of debt.....

The only reason he has sky and top speed internet connection is cos he pays for them...

Thanks Tustastic...... everyone has been so nice....;)

debtCollector_3

livinginhope wrote:

Glad to see you are still posting and we haven't frightened you off.
LIH

Hee hee, no I was frightened off, you just took my rose tinted glasses away