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moneyfools
moneyfools Posts: 13 Forumite
in Debt-free wannabe
Hello to all.

My Lightbulb moment happened today!.

Some may say rather too late, but I think it's rather late than never. We definately left it too late to save our home and too late to catch up on the spiralling debts.

Our situation is a lot worse than most people on this board, but we aim to do something about it. :eek:

I wish I had a sad and truthful story about losing my job, or unable to work due to illness etc.... but I don't! I am just pathetic at working with money. :eek:

Our breakdown is as follws:

Lloyds Tsb Select £7,485.87
Halifax Plat Card £4,929.36
Capital One £679.71
Capital One £583.22
Barclaycard £2,604.16
Abbey Card £3,694.80
Littlewoods £1,483.97
Littlewoods £192.11
Argos £263.62
Lloyds TSB Card £8,278.04
TalkTalk - One Tel £64.67
Current Account £1071.61 *Overdraft
Welsh Water £333.24 *Outstanding balance
Swalec Gas £526.11 *Outstanding balance
Swalec Electricity £363.10 *Outstanding balance
Mortgage £82500 *Home reposessed *Sold STC*
Secured Loan £32800 *Home reposessed *Sold STC*

Total Debt £147 853.59 :eek: :eek: :eek: :eek:

Now some light at the end of the tunnel and the basic plan.
The house has had a sale agreed STC. The sale was agreed for £97000.00


1st Actions:
Investigating all charges on all the accounts to see what I can claim back.
Look into the best suited options available in respect of a DMP - who knows where I will start, but I know I will be reading these forums at that point!
Lloyds TSB (C.Acc)- £2067.00 - Prelim 29/12/2006 - NatWest - £407.00 - Prelim 29/12/2006 - Lloyds TSB - Loan - S.A.R 15/12/2006 - Lloyds TSB Credit Card - S.A.R 15/12/2006 - MBNA Credit Card - S.A.R. 15/12/2006 - Capital One - S.A.R. 15/12/2006 - Halifax Credit Card - S.A.R 15/12/2006 - C&G Mortgage - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
My Wife: - NatWest Current Account - £409.00 - Prelim 30/12/2006 - Capital One - S.A.R - 15/12/2006 - Argos Additions - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
:T Proud to be dealing with my debts :T
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Comments

  • mjdh1957
    mjdh1957 Posts: 657 Forumite
    Part of the Furniture 500 Posts Photogenic
    Hi and welcome to the MSE boards!

    That is a lot of debt - but at least now you're dealing with it so things should start to go better.

    There's a lot of good advice on these boards, so pull up a chair, have a cup of tea and have a good browse.

    Good luck!
    Retired in 2015.
    Moved to Ireland September 2017
  • yung
    yung Posts: 700 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    Welcome to the forum, sadly sometime it is too late to realise how deep you are in Debt until it hit back at you, sorry to hear that it has come to a point to loose your house. but it is never too late to have your LBM and you have come to the right place for helps and Advices whe you got time can you post an S.O.A so the good folks here can helps you. good luck
    Yung
    Early Retiree debt & stress free. and Joined the SKI club:j

  • moneyfools
    moneyfools Posts: 13 Forumite
    Letters requesting data sent today to:

    Natwest
    Lloyds TSB - Online Statements show £2025.00 in Charges
    Capital One
    Abbey
    MBNA
    Barclaycard
    Halifax
    Cheltenham & Gloucester

    All letters send via recorded delivery.

    Game On!
    Lloyds TSB (C.Acc)- £2067.00 - Prelim 29/12/2006 - NatWest - £407.00 - Prelim 29/12/2006 - Lloyds TSB - Loan - S.A.R 15/12/2006 - Lloyds TSB Credit Card - S.A.R 15/12/2006 - MBNA Credit Card - S.A.R. 15/12/2006 - Capital One - S.A.R. 15/12/2006 - Halifax Credit Card - S.A.R 15/12/2006 - C&G Mortgage - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
    My Wife: - NatWest Current Account - £409.00 - Prelim 30/12/2006 - Capital One - S.A.R - 15/12/2006 - Argos Additions - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
    :T Proud to be dealing with my debts :T
  • lynzpower
    lynzpower Posts: 25,311 Forumite
    10,000 Posts Combo Breaker
    As I understand reposession, your figures, I believe are out.

    If the property has sold for 97, then you owe the bank 18 and a bit K not
    Mortgage £82500 *Home reposessed *Sold STC*
    Secured Loan £32800 *Home reposessed *Sold STC*

    Can anyone confirm im correct? Or correct me?
    :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
    Theres no dollar sign on piece of mind
    This Ive come to know...
    So if you agree have a drink with me, raise your glasses for a toast :beer:
  • bluezone
    bluezone Posts: 772 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    sorry Lynz - too many numbers to think about on a friday afternoon ;) I'm sure somebody will be along to check.

    Meanwhile OP moneyfools - why dont you put on here a full SOA to see if we can help you cut back on things?

    Bx
    😁
  • moneyfools
    moneyfools Posts: 13 Forumite
    lynzpower wrote:
    As I understand reposession, your figures, I believe are out.

    If the property has sold for 97, then you owe the bank 18 and a bit K not

    Can anyone confirm im correct? Or correct me?

    Lynzpower
    I owe C&G - 82500 - 1st Charge on Mortgage
    I owe Paragon - 32800 - 2nd Charge on Mortgage (Secured Loan)

    The sale of 97K is going to leave a total shortfall between the 2 charges of 18300 or thereabouts. The reason I have left it as the figure is at the moment - is the sale is Subject To Contract, and technically not completed as yet.
    Lloyds TSB (C.Acc)- £2067.00 - Prelim 29/12/2006 - NatWest - £407.00 - Prelim 29/12/2006 - Lloyds TSB - Loan - S.A.R 15/12/2006 - Lloyds TSB Credit Card - S.A.R 15/12/2006 - MBNA Credit Card - S.A.R. 15/12/2006 - Capital One - S.A.R. 15/12/2006 - Halifax Credit Card - S.A.R 15/12/2006 - C&G Mortgage - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
    My Wife: - NatWest Current Account - £409.00 - Prelim 30/12/2006 - Capital One - S.A.R - 15/12/2006 - Argos Additions - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
    :T Proud to be dealing with my debts :T
  • moneyfools
    moneyfools Posts: 13 Forumite
    Sent off the following Prelim letters today:
    Lloyds TSB - Current Account
    2067.00 excluding interest

    Natwest Bank - Current Account
    407.00 excluding interest


    Sent off the following S.A.R A;; on 15/12/2006
    Natwest Bank
    Lloyds TSB Current Account
    Lloyds TSB Credit Card
    Lloyds TSB Personal Loan
    Barclaycard Credit Card
    Halifax Credit Card
    Littlewoods Catalog
    Capital One Credit Card
    MBNA - Abbrey Credit Card
    Abbey National Current Account
    C&G Mortgage


    My Other Half's S.A.R's sent 15/12/2006
    Natwest Bank
    Littlewoods Catalog
    Capital One
    Argos Catalog
    Lloyds TSB (C.Acc)- £2067.00 - Prelim 29/12/2006 - NatWest - £407.00 - Prelim 29/12/2006 - Lloyds TSB - Loan - S.A.R 15/12/2006 - Lloyds TSB Credit Card - S.A.R 15/12/2006 - MBNA Credit Card - S.A.R. 15/12/2006 - Capital One - S.A.R. 15/12/2006 - Halifax Credit Card - S.A.R 15/12/2006 - C&G Mortgage - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
    My Wife: - NatWest Current Account - £409.00 - Prelim 30/12/2006 - Capital One - S.A.R - 15/12/2006 - Argos Additions - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
    :T Proud to be dealing with my debts :T
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    presumably you have opened new bank a/cs with people you owe nothing to?

    if you wish to post an SOA maybe people could help a little
  • taxi73
    taxi73 Posts: 20,815 Forumite
    HI and welcome moneyfools...sorry to hear you've lost you're house..but if you post you're SOA with incomings and outgoings we may be able to help you out on cutbacks
  • moozie_2
    moozie_2 Posts: 3,063 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Hello and welcome

    Sorry things got to this point for you but way to go for trying to turn things around. It is great that you are pursuing the route of claiming charges however, it would be best to look at all angles of your situation, including increasing your income, reducing your outgoings and learning from this experience.

    As others have said, if you post your soa, we will be only to pleased to help :)

    Keep going!
    Leason learnt :beer:
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