FED UP Its never going to end :-(

Sarah76_2

I have been battling and trying to sort out and pay my debts off for the last 8yrs cause I stupidly allowed my ex to lead me to believe at the time "we were doing the right thing"

Im so angry with myself for not stopping it sooner now I have been left with alot of debt and see no light, one debt is in dispute and im being told they are coming round etc. I thought i was going to get a lump sum of money in July but ive just been told im now not getting this.I was going to use it to pay off another debt, and my final debt is a joint loan my ex isnt paying and will take me 32yrs to pay off. I was going to try and get them to take the interest and PPI off it but I dont think they will.

So I have to consider BR but I cant even afford that and even if i take the money that i am paying the creditors at the moment it is still going to take 6 months to save up for it.

I feel like i have failed my kids and my husband, and just feel completly useless and empty, I have been reading a post on here about council tax which just made me think when i moved my ex was supposed to pay it but council called me to say monies outstanding I said id already paid it and they happily took his name and address and now im worrying that that is going to bite me on the !!!! as well.

I feel like after years of paying stuff everything is coming crashing down around me and its my family now that are suffering because of a stupid mistake in my twenties.

:(:(:(

bottleofred

Hi Sarah,

Sorry to hear you are going through a bad time. Like you, I thought the whole thing would never end, but now I can finally see light at the end of the tunnel and hope to be debt free later this year. Don't get me wrong, it's taken me almost 8 years to get to this stage, but now I'm almost there I think it's been worth it. I realise one of the debts will take 32 years to pay off and really don't know what to suggest, but please keep your chin up and continue to come hear for advice. I'm sending HUGS as they appear to be needed.

I'm sorry I can't be of more help, but hope things get better soon

Red

Polly_Wolly_Doodle

Hi Sarah,
It's probably worth taking the time to do a Statement of Affairs and posting it on this thread, then people can offer practical, factual help and advice.
There are a number of ways to tackle debts and by posting you are empowering yourself to begin that journey with the knowledge and experience of others who completely understand.
PWD xx

fishty

Hi Sarah,

Sorry to here the situation your in.

Have you contacted CAB or any debt management charities? You've obviously taken the first step asking for help on here. I'm sure the people on here who know a dam site more than me about this will certainly offer up some good advice.

[Deleted User]

Hi Sarah,

Although it looks like things will never end - they will.

Although it looks like there's no solution - there will be.

As recommended above - have you sought professional help - (from a FREE charity) ? CCCS, CAB, NAtional Debtline (there are others, but I'm not sure who they are)

Also, if you can find the time and you can face it post an SOA here (here's the link: http://www.makesenseofcards.com/soacalc.html )
If you do this people will be in a better position to comment.

Try and stay positive

D9

Sarah76_2

hi

I was with Spectrum dmp (yes i know another stupid stupid mistake) for years, then decided after talking to CAB and CCCS to try and deal with it myself. CCCS reccomended Bankrupcy. because of the length of time it is going to take to pay back. I currently pay £80 a month to creditors, my husband is self employed and im on maternity leave due to end in July and I cant go back to my job as my husband now works days and we cant afford the childcare for 3 under 4's although I am now applying for some evening work, as his income is very irregular at the moment. We also claim some HB which is due to go down due to government cuts. We also have 3 other children to pay maintenance for I have 1 hubby has 2.

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1 car is my husbands not mine so not listed as an asset
Monthly Income Details
Monthly income after tax................ 492
Partners monthly income after tax....... 0 this is due to him just going into a new business premises so money is currently going to building the business
Benefits................................ 1509
Other income............................ 0
Total monthly income.................... 2001
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 40 - im on meters and have just switched then company put up prices !
Gas..................................... 50 - same as above but i try to put on a bit extra for winter as my house is quite expensive to heat as doesnt have cavity walls
Oil..................................... 0
Water rates............................. 29
Telephone (land line)................... 25
Mobile phone............................ 30 - 2 older children have mobiles and contribute to monthly credit this is a figure for 4 payg phones
TV Licence.............................. 12
Satellite/Cable TV...................... 30
Internet Services....................... 10
Groceries etc. ......................... 300 - some weeks have to pay for food for 7 or 6 and in holidays we have them longer periods of time
Clothing................................ 10
Petrol/diesel........................... 250 - due to our kids living in different counties 160/180 mile round trips to collect them and hubby works 20 miles from home
Road tax................................ 20
Car Insurance........................... 43
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 0
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 20
(Unnamed monthly expense)............... 0
child maintenance....................... 100
Total monthly expenses.................. 1949

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
paragon........................24000.....40........0 dont pay interest already frozen
Cabot..........................3233......20........0 dont pay interest already frozen
Ccs............................3800......0.........0 not currently paying them as account in dispute
Total unsecured debts..........31033.....60........-

Monthly Budget Summary
Total monthly income.................... 2,001
Expenses (including HP & secured debts). 1,949
Available for debt repayments........... 52
Monthly UNsecured debt repayments....... 60
Amount short for making debt repayments. -8
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -31,033
Net Assets.............................. -31,033


i know it looks bad hubby being in his own business and me not being able to pay debts but and i dont want to get jumped on he sold his own stuff to start up and he has gone into business with other people so start up was VERY small and they are MY debts not his and he doesnt use any of our current household income for the business but just doesnt have an income coming in yet if you see what I mean

fishty

If you only have arranged to pay £80.00 between your creditors then why not just stick to that? OK, it's long term but at least you are making in roads. Have arrangements been made?

I understand what your saying with childcare - 3 kids full time could cost around £1500 pcm. You would end up working just to pay this.

triple_choc_chip

Hi Sarah

Why are you paying £100 maintenance when you have just £492 income and other children to keep?
If this is a historical assessment, can you re-assess with regard to your present circumstances?
Same advice for your husband too, as his income has also changed radically.
Good Luck.

Sarah76_2

the child maintenance is only £8.33 per child per week, it was near enough what csa would have issued. We have private agreements in place. I think for the time being i will just continue with my payments and hope i can try and get some interest and PPI taken off the loan to help. The other debt is lack of CCA can anyone confirm the position with the CCA claims as some are saying hold fast and some saying its a lost cause and i could end up in court. That is on here and CAG

Many Thanks :-)

ceejaydee23

At the end of the day, your situation may seem dire right now, but as someone else said, you have come to an arrangement to pay back what you can afford? Your bubbies maybe small, but there are now some nurseries on a pilot scheme where they take children from 2 years old, (which is what we are hoping to do with my little man) So you will then be returning to work, by then your other half could be quite established in the business he is now setting up. Your situation wont remain the same indefinitely so as your situation improves in the next few years, you can offer more towards the debts you have, shortening the life you will be paying them back.

Generally if an account is in dispute then the company usually stop collecting payments, especially if they know they haven't got a leg to stand on regarding claiming the payments anyway e.g nearly statue barred when you started paying them.