Pinot's Potty debt free journey!!!

PinotGrigio41

Hi everyone,here's yet another debt free diary!
I've been lurking and reading loads of other diaries ,totally hooked on Gargrave! They all inspired me to do something about our huge debt problem . Not quite sure when LBM was but guessing around August although if I'm honest feels like we have have been burying our heads in the sand forever, convincing ourselves things would get better. Real turning point came December 2010. Hubby working away again for a month, Xmas looming, clients ceased trading owing us money when we were only just treading water then received a knock on the door from inland revenue requesting payment of tax bill. In fairness the man was very kind, I burst into tears ,paid him what I could promised more then shut the door and cried and cried. We made changes to the business and began 2011 determined not to be beaten .........but more businesses folded leaving us with more unpaid invoices and the debts mounted. OH took job abroad for 2 months managed to pay tax bill then another away for 3 months to keep things ticking over, but that's all we are doing just treading water and I don't think we have the energy to keep on trying anymore. After massive car repair bills we then found ourselves in mortgage arrears , loan arrears and behind on a couple of cards with another tax bill on the horizon. Having not slept with the worry I decided that we needed to start somewhere, business s good and pays well but is somewhat erratic, hours long and unsociable but we have to beat this. It's difficult however without a guaranteed income on a certain date each month. Anyway having had a quick tot up of the debts they are somewhere in the region of £90,000 :eek:I will pst everything up here for all to see but please bear with me, it may take a while!!!
I could type forever and ever explaining how we got into this mess but what will be will be and we need to change it and not dwell on the past although I'm sure it will crop up in future posts !

So , decisions we need to make are should we enter a Dmp , our situation business wise may make this a bit risky , stupidly majority of debts are business ones or do we plod on but continue to work all the hours under the sun , never see each other or the children their dad that often or throw in the towel ,sell the roof from over our heads a d admit defeat! My answer changes dependant on the day !!!!!

So there you have it Pinots Potty Debt Free Journey begins ..........we just need to decide on which journey to take.........

As I continue writing all comments greatly appreciated and apologies for the long post xxxxx

PinotGrigio41

Oh and apologies for the awful typing, DD1 at concert this evening and I promised dd2 girly night in watching movies as Daddy is away. Her choice of movie was Hop which couldn't quite hold my attention so have typing and watching with one eye, making appreciative noises where needed and pretending to be paying attention whilst writing my post !

PinotGrigio41

Ok, so much for writing everyday. Its been a long haul trying to get everything in order and sorted. But in the meantime, in my effort to get more cash , I have sold a load of CDs to Music MAgpie, have £40 coming back to us via Quidco, sold a sack of clothes for £15, received cashback from Swinton, discovered I am due a refund of NI,got loads of goodies in a big pile ready to sell on ebay, and received a notification from Capital One that they will refund £850 of credit card charges, these have to be deducted from the balance owing on the card, but thats fine.

Finally plucked up the courage to call CCCS, nearly 3 hours later have finally got off of the phone ! My ear hurts from pressing the phone to it, I need coffee after bearing my soul, but despite maanging to embarass myself by crying my eyes out on the phone twice , I think I feel better than I have in a long time ! They have just emailed me all the blurb so I will sit down with DH this evening if we get a time and go through everything, then its onwards and upwards from here. I cant believe I put off calling CCCS for so long, but they were so nice and understanding. Unfortunately our mountainous debts with current income / expenditure are showing in the region of 20 years to pay off ( thats if they all freeze interest, fingers crossed!!! ) Im positive that we can definately break the back of it and pay it off before then, anything has got to be better than our current situation, and to be honest with £90,000 worth of debt ( actually its now £86,000 !) I think we would have taken that to the grave with us.

Anyway thats all for now xxx

PinotGrigio41

Oh yes, opened a Nationwide Flexcashcard Account today as well. So very productive !

Busy week this week, DH1 in school production every night, so lots of rushing around with her and DS2 sitting the 11plus on Saturday .xx

PinotGrigio41

Being compeltely dippy and fuzzy headed today can somebody please tell me how I show all my debts etc in my post as so many of you have if that makes sense please ? Thankyou !

Hovel_lady

You can post a SOA (statement of affairs) - link here:

https://forums.moneysavingexpert.com/discussion/107280

Good luck with your debt busting. Look forward to hearing how you get on

PinotGrigio41

Thankyou Hovel Lady, we will need all the support we can get !!!

LAM2011

Hi and Welcome

I think it always seems daunting in the beginning - it did for me as well but you sound like you have made a huge effort to get going with sorting it out so good luck. Heaps of advice and good ideas on these forums.

if you are talking about putting the totals in your signature at the bottom you need to click on User CP (in the green bar above) and then click edit signature - put your stuff in and then dont forget to click save

good luck x

PinotGrigio41

Yes thankyou, it was the totals in my signature I was asking about although didnt exactly make myself very clear !:) I will post my SOA hopefully in a few days also .

The CCCs emailed me yesterday with their suggestions etc and I had a chance to talk through a few things with the DH last night although has yet to read all the blurb . I think we are both feeling really positive although we know we will be in for a bumpy ride with the creditors initially. The only worry we have is that we were advised that NW may put a second charge on the house as our unsecured loan is so big, so I need to look into that a bit more.

Not been too proactive today though, DD2 has the 11 plus tomorrow so we have been going through some last minute revision ( I think I am more nervous than she is) and DD1 has the closing night of her show. Unfortunately I cant go as its an early night for the youngest and as my DH is away working for a few days I wont be able to watch her.:(

Oh, we did draw out the small emergency fund we had in NW as we will need to close that account once the DMP gets rolling, so thats a start !

PinotGrigio41

Is it normal to become so addicted to this forum ?!!!;) I am having serious concerns for my sanity already ?!!!

Off now to try and post up details of our debts in my signature !! It could take a while !!!:D

PinotGrigio41

Well I think my signature and Humungous lists of debts has sent MSE into severe shock ! Typed it and saved it , but not sure if I have sent the whole system spiralling out of control with my revelations. So I am posting now and will see what happens !:rotfl: