The Ultimate Hard and Fast debt clearing mission

Lara44

I know it's sickening because we are 15 minutes walk from the Olympic site. I think we could have got around £3500 for the two week rent :mad:

Aw well no point in crying over spilt money that never existed eh? (Obviously I had spent the money in my head on a new bathroom already).

Birdie85

Would it be worth contacting the council and asking if they're considering a change of policy for the special circumstances of the Olympics? You're just trying to do your civic duty and allow someone to stay in your home so that they can experience London in all it's glory without being ripped off after all!

shrimpy_80

Oh my word - £3500! For two weeks! Definitely worth a call to them I'd say, it is a special circumstance...?

missymoo81

thats such a lot of money! I would call too.

Just made myself a cream tea, well defrosted a scone and whipped up some cream and had some jam with it, and had a cuppa, lovely

GreenSaints

Hello all

I know I'm being selfish and hijacking this for my own gains, but you are the experts and I need advice. I promise I will then catch up on today's chat and full intergrate myself back in the group!

Finally had a proper conversation with the BF about money. What an eye opener! You won't believe it, but this is the first time EVER I've seen his payslip! In nearly 8 years of being together! So that in itself is an achievement.

I was proud to say I was calm and collected. I feel a bit bad for him because he said "You always think that I'm not bothered, or I don't care, but it's because I keep paying stuff off and it never disappears"

I showed him the statement of affairs website, and thought why don't we fill it in and post it on here. So, that I have! I've never really asked for help in this, because I've never known the facts.

Things that aren't reflected on this:

1. 1. I'm very fortunate to have a company car, so I have no maintenance etc. but pay for fuel
2. BF has TWO cars (don't even get me started! :mad:) so all of the working out for cars (except fuel) is all for his cars. Before you even say, he won't sell the other one. (this is why I'm proud I stayed calm)
3. The unsecured debts in pink are mine, the ones in blue are his and the [COLOR="rgb(46, 139, 87)"]green[/COLOR] is jointly. Obviously the mortgage is joint.
4. Currently we are at counselling which I pay £50 every week. I'm hoping in the next 2-3 weeks, it'll either by fortnightly or stop altogether (depends on how mental she thinks I am still! )
5. BOM is what it is - Bank of Mum! Looking back now, this was bad to borrow the money of my mum for two reasons 1. she'd be loaded! and 2. getting into the mentality of saving for things. BF said "I need some tyres for Car 2." I said "You'll have to save for them" he then said "Yeah, but then you're just saving your whole life and have to wait ages" :mad: Welcome to the real world - it sucks!

Anyway, sorry to moan. If you could have a look at the SOA I'd really appreciate it. Any advice as always, it greatly welcomed

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1445.64
Partners monthly income after tax....... 1430.2
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2875.84
Monthly Expense Details
Mortgage................................ 336
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 89
Electricity............................. 43
Gas..................................... 30
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 13.9
Mobile phone............................ 10
TV Licence.............................. 12.37
Satellite/Cable TV...................... 0
Internet Services....................... 22.05
Groceries etc. ......................... 220
Clothing................................ 40
Petrol/diesel........................... 300
Road tax................................ 40
Car Insurance........................... 33
Car maintenance (including MOT)......... 42
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 16.88
Pet insurance/vet bills................. 1.25
Buildings insurance..................... 7
Contents insurance...................... 7
Life assurance ......................... 12.69
Other insurance......................... 15
Presents (birthday, christmas etc)...... 25
Haircuts................................ 10
Entertainment........................... 50
Holiday................................. 85
Emergency fund.......................... 0
Total monthly expenses.................. 1484.14

Assets
Cash.................................... 7500
House value (Gross)..................... 100000
Shares and bonds........................ 3000
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 112500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 66675....(336)......2.5
Total secured & HP debts...... 66675.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................2064.32...75........0
Student Overdraft..............1354.23...50........0
BOM ..............................12942.9...200.......0
Student Loan...................8432.84...87........1.5
First Direct Overdraft..........436.......0.........18.3
Mint...........................2091.5....42.41.....19.9
Barclays Overdraft.............1500......0.........18.3
MBNA...........................1699.14...25........0
BOM House......................31088.....0.........0

N.I.M

Is one of the cars a vintage one or something? Is it a case of he wont get rid of either of them or just that particular one? I'm asking this before I look at the SOA properly to get an idea of where your BF stands on this stuff. TBH unless its something ridiculously special he's not being serious about clearing this stuff.

GreenSaints

I'm all caught up now. From what I've read - there are some very cute babies out there, some mean people to work for, horrible tablets and stingy councils not letting people stay round! I'm sure you'll all come up with some great ways of dealing with these, and I'll be glad when I read about them

I am super impressed by everyone's October and November goals. Makes me feel like I should have some (I'm still working on my Day Zero list!) I'll try and do these (it'll be a miracle if I can make any of them!)

• Make 2 Christmas items (from my super cool Stars Wars craft book I got for my birthday! ) It may not look like the picture, but it's the thought, right?
• Have 15 NSD's
• Make £200 from selling stuff
• £400 on debt repayment

On the subject of popping tyres - NIM - do you cycle at night? If so, what sort of gear do you use? I'm fortunate to be working 6 miles from home and have cycles in quite a lot, but the dark scares me It's pretty dodgy where I work too (actually the whole city where I live is dodgy!) so I need some gear so I'll be super bright and quick! :P I thought I should still cycle while the weather is still fine.

GreenSaints

N.I.M wrote: »

Is one of the cars a vintage one or something? Is it a case of he wont get rid of either of them or just that particular one? I'm asking this before I look at the SOA properly to get an idea of where your BF stands on this stuff. TBH unless its something ridiculously special he's not being serious about clearing this stuff.

It's an MR2 which he loves. He bought one when we were first together (when he was good looking, young and stupid!) but had to sell it within 6 months because we moved in together and he couldn't afford to run it. He's been dying to get one ever since.

He alternates between that car and the sensible, reliable and economical diesel Astra to travel to work.

N.I.M

GreenSaints wrote: »

It's an MR2 which he loves. He bought one when we were first together (when he was good looking, young and stupid!) but had to sell it within 6 months because we moved in together and he couldn't afford to run it. He's been dying to get one ever since.

He alternates between that car and the sensible, reliable and economical diesel Astra to travel to work.

He needs to cop on Greenie. He couldn't afford it then, and from looking at all this he can't afford it now. That puppy is pricey to run, pricey to repair and could get him quite a few quid if he sold it now. I know you say he won't sell it, but that being the case you need to ask yourself...and him how serious he really is about getting all this cleared.

Dinah93

Birdie85 wrote: »

I actually thought 'Yay! Finally!' when you said your brother had split with his GF Cinny, maybe give him some tough love to make him see that they're much better off apart than together!

I've found a local solicitor who does no-win-no-fee so going to get OH to contact them to see what they say, had a quick Google and one website said that for noticible scarring on arms you can claim for upwards of £4,500, and you'll get more if that is due to a burn because of the pain involved. Must tell him to get a medical report from the doctor! I'm just so cross for him now, he has the worst luck!

Speaking of luck, that's so unlucky for you about not being able to rent out your house for the Olympics Lara! Does planning permission take a long time and money to get? (Clueless about it!) Why would you need PP, who cares who's living in the house as long as nothing about it is being altered?!

My November challenges are:
-Make 4 Christmas presents
-Make 4 Christmas cards
-Write 4 reviews
-Sell 4 items on Amazon
-Read 4 books
-Lose 4lbs

GreenSaints wrote: »

Hello all

I know I'm being selfish and hijacking this for my own gains, but you are the experts and I need advice. I promise I will then catch up on today's chat and full intergrate myself back in the group!

Finally had a proper conversation with the BF about money. What an eye opener! You won't believe it, but this is the first time EVER I've seen his payslip! In nearly 8 years of being together! So that in itself is an achievement.

I was proud to say I was calm and collected. I feel a bit bad for him because he said "You always think that I'm not bothered, or I don't care, but it's because I keep paying stuff off and it never disappears"

I showed him the statement of affairs website, and thought why don't we fill it in and post it on here. So, that I have! I've never really asked for help in this, because I've never known the facts.

Things that aren't reflected on this:

1. 1. I'm very fortunate to have a company car, so I have no maintenance etc. but pay for fuel
2. BF has TWO cars (don't even get me started! :mad:) so all of the working out for cars (except fuel) is all for his cars. Before you even say, he won't sell the other one. (this is why I'm proud I stayed calm)
3. The unsecured debts in pink are mine, the ones in blue are his and the [COLOR="rgb(46, 139, 87)"]green[/COLOR] is jointly. Obviously the mortgage is joint.
4. Currently we are at counselling which I pay £50 every week. I'm hoping in the next 2-3 weeks, it'll either by fortnightly or stop altogether (depends on how mental she thinks I am still! )
5. BOM is what it is - Bank of Mum! Looking back now, this was bad to borrow the money of my mum for two reasons 1. she'd be loaded! and 2. getting into the mentality of saving for things. BF said "I need some tyres for Car 2." I said "You'll have to save for them" he then said "Yeah, but then you're just saving your whole life and have to wait ages" :mad: Welcome to the real world - it sucks!

Anyway, sorry to moan. If you could have a look at the SOA I'd really appreciate it. Any advice as always, it greatly welcomed

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1445.64
Partners monthly income after tax....... 1430.2
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2875.84
Monthly Expense Details
Mortgage................................ 336 You're lucky, is this fixed or variable? Can you afford a rise, has he thought of this?
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 89
Electricity............................. 43
Gas..................................... 30
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 13.9
Mobile phone............................ 10 [COLOR="rgb(72, 209, 204)"]For both?[/COLOR]
TV Licence.............................. 12.37
Satellite/Cable TV...................... 0
Internet Services....................... 22.05 [COLOR="rgb(72, 209, 204)"]Quite high, can you shop around to reduce it[/COLOR]
Groceries etc. ......................... 220 [COLOR="rgb(72, 209, 204)"]Could shave a little here, maybe £20-£40 without too much pain[/COLOR]
Clothing................................ 40
Petrol/diesel........................... 300
Road tax................................ 40
Car Insurance........................... 33
Car maintenance (including MOT)......... 42
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 16.88 [COLOR="rgb(72, 209, 204)"]Have you considered getting a prepayment prescription?[/COLOR]
Pet insurance/vet bills................. 1.25
Buildings insurance..................... 7
Contents insurance...................... 7
Life assurance ......................... 12.69
Other insurance......................... 15 [COLOR="rgb(72, 209, 204)"]?[/COLOR]
Presents (birthday, christmas etc)...... 25
Haircuts................................ 10
Entertainment........................... 50
Holiday................................. 85 [COLOR="rgb(72, 209, 204)"]Not one to talk but holiday savings are effectively costing you more as there is the equivalent money earning interest on a CC[/COLOR]
Emergency fund.......................... 0
Total monthly expenses.................. 1484.14

Assets
Cash.................................... 7500 [COLOR="rgb(72, 209, 204)"]Pay it off a debt, no point having savings and debts as you're effectively loosing money every month[/COLOR]
House value (Gross)..................... 100000
Shares and bonds........................ 3000 [COLOR="rgb(72, 209, 204)"] As above, I cashed ours in to clear a chunk[/COLOR]
Car(s).................................. 2000 [COLOR="rgb(72, 209, 204)"]For both cars?[/COLOR]
Other assets............................ 0
Total Assets............................ 112500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 66675....(336)......2.5
Total secured & HP debts...... 66675.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................2064.32...75........0
Student Overdraft..............1354.23...50........0
BOM ..............................12942.9...200.......0
Student Loan...................8432.84...87........1.5
First Direct Overdraft..........436.......0.........18.3
Mint...........................2091.5....42.41.....19.9
Barclays Overdraft.............1500......0.........18.3
MBNA...........................1699.14...25........0
BOM House......................31088.....0.........0

[COLOR="rgb(72, 209, 204)"]If you used the cash and shares you could clear all the debt excluding what you owe your mum and the student loan, enabling you to start paying her back as its a lot of money you owe her[/COLOR]

Have to agree with NIM, he hasn't had his lightbulb moment if he's still running two cars. I'm a bit confused, does all of both your wages go into the joint account or do you budget seperately? I'm guessing all these costs are total not per person but can you just confirm that.