I'm at the end of my tether

WASHER

You have confused me too, with all the figures you have posted, £1000, £800 and in the last post you mention a profit of a £100 per month, which is great as a sideline, but not as an income.

What line of work are you in? Have you tried posting your CV online, monster jobs etc.

binnie

It was a sideline until I lost my job in January this year. It topped up my wage, as I didn't earn a lot there either.
I have applied for so many jobs with every agency in the world, I have knocked on doors, everything, but still no interviews.
I do admin work, retail sales, telesales, I've even applied to be a care assistant today. At the moment I am applying for anything.

The £1000, £800 etc, is what I can sell in a month. So for instance last month I sold £899 worth of stuff, so that is turnover. Then there are ebay fees to come out and expenses like postage etc, so what the tax man wants to know is how much is profit. The answer is I do a once a year tax return and deduct all my outgoings and what I am left with for last year 2009-2010 tax year was £448. I had a lot of ebay fees to pay as I kept relisting stuff that didn't sell, I paid a lot out on advertising to get my shop known, and I also bought loads of stock. So all those deductions ate away at my profit .
The year before I earned about £15,000 for the year, but that was turnover. The actual profit by the time expenses had come out was about £2,000.
So how can I say what I am going to be making when I can only go off the previous months or years.
it was HSBC who came up with the £100 profit a month off the top of his head as he said he had to put something down.
Why does it matter at the moment how much profit I am making. I have already got the stock, I can't afford to buy anymore, so everything I sell for the next 6 months will go towards paying the bills.
Then when my tax return is due, I'm hoping by then I will have a day job to pay it. For now though I am trying to concentrate on paying my bills as they come in.
Ebay really is a hobby, but because someone grassed me up saying I was a business seller which I am on a very small scale, then unfortunately it has shot me in the foot.

WASHER

Ebay is a business if you are buying stock to resell it. If you are flogging your toot/valuables from your home, then its a hobby. Tax should be paid on a business.


It matters how much profit you are making so they can make a decision on lending criterea. You may not sell the stock you have, banks are not interested in ifs and maybes.

Have you posted an SOA?

WASHER.x.

binnie

I have got all my Ebay reports for the last 5 years or so and I am going to email them over to the man at HSBC and show him what money I have brought in each and every month.
I hope it proves to him that I have been an active seller all this time and do earn the money. it's not my Ebay which is at fault, it's the fact that I have lost my day job and the £700 a month it paid me.

WASHER

Binnie, post an SOA and we will see if we can help. Are you not entitled to any benefits? Have you checked entitled.com/turn2us. You may have to accept the HSBC are not going to help you, but we can, but only if you post an SOA.

binnie

I understand that now Washer, but at the time, I thought I could earn £6,000 a year on top of my day job. I was very naive and now know that I can only earn £6,470 total in a year (or something like that) and everything over that is taxable.
But it's still a hobby as I love doing it, but it's a taxable hobby
I'm not bothering posting an S.OA as I don't want certain people to see it as I have relatives who go on here. The only things we can cut back on are, extending the mortgages for a longer period, cutting back on food bills which we have done, selling our house and maybe renting, but hubbie won't do.
I won't swap energy suppliers because they all end up the same in the end and my sister in law and a few others have had !!!! ups with switching them. I haven't bought any clothers for ages and if I do, I buy them off Ebay very cheaply, like a top for a few pounds.
We have too many loans which the loan companies won't cut the interest or freeze the interest, or reduce the payments. We have two credit cards between us and can't switch to a 0% card as we keep getting turned down.
We have mobile phones, hubbies runs out in Sept (contract and mine is about October. We are on the cheapest packages there. So I am stuck.
Thanks everybody for your help, sorry to have confused you all.
I am going to bed now, I'm exhausted with all this thinking. xx

WASHER

Binnie, If you are worried about someone knowing your ID, set up another user name and post under that, you do not have to give any personal information away and don't mention Ebay! on that thread. No-one will no, you need help and we can help you, as Martin Lewis once said he has never seen a debt problem that couldn't be solved and yours is no different, we just haven't found the solution yet, but many of the peeps on this board are very knowledgable and can help you if you post an SOA.

WASHER

Have you phoned the CCCS, a debt charity, they will help you, take a look a their website, it has a wealth of knowledge.

binnie

WASHER wrote: »

Binnie, post an SOA and we will see if we can help. Are you not entitled to any benefits? Have you checked entitled.com/turn2us. You may have to accept the HSBC are not going to help you, but we can, but only if you post an SOA.

Hi again. We can't get any benefits as my husband does earn a decent income, but over the years when we both had decent jobs, we ran up lots of debts. Not once though have we missed a payment off anything.
When I lost my decent paid job, I had to take a job with a lot less pay and we still managed to pay the bills. But then my mum passed away late Sept 2009 and I took a lot of time off work and didn't get paid, our savings alll vanished as we had to use the money to pay the bills. I never actually got to save anything since 2009, so all our wages went on bills .In 2010 things got harder so we robbed Peter to pay Paul by borowing some more money off the bank and credit cards and that has pushed us to paying ALL our wages out on bills with nothing left.

Last year for the first time ever, I got overdrawn and only had a limit of £150 to go overdrawn by.
I then got depressed in a bad way that I had more time off work and no pay. So I upped the overdraft to £500 and now I can't seem to get rid of it as I am always having to use it to pay bills.
I know loads of people live off their overdraft but it was something I've never done before.

In January 2011 when I lost my job, I was gutted. But I have honestly applied for so many jobs that I have lost count who I have applied to. People don't seem to acknowledge you as they get so many applications these days. It's really demoralising.
But I've had some counselling for my depression and I am on medication and feel a little better and want to prove to an employer that I am worthy of their jobs. I feel worse not working as i am limited to what I can do in a day without spending money. I just sit in the house hoping people will buy something off my Ebay site. How sad am I. :rotfl:

binnie

WASHER wrote: »

Have you phoned the CCCS, a debt charity, they will help you, take a look a their website, it has a wealth of knowledge.

My friend actually filled one of their forms in and it looked like she could afford all her bills when in fact she can't. She omitted things like clothing, cut her food bill down etc, but at the end when you print out the results, it showed that it had entered an amount for clothing, hairdressers etc and the amount that she should be spending on food which was more than she really does.
So she can't get any help off them.

How would I tell them about my ebay job, my god if the HSBC are confused, then I wouldn't half confuse them. :rotfl:
I'm going for a lie down now, been on here far too long.
I will let you know the outcome with the HSBC as I haven't finished with them yet.