Angel’s Flight from the Kingdom of Debt – The Take Off

GreyhoundAngel

Welcome Angelettes,

So many changes in the short time since I began my last diary and, with the onslaught of the New Year, it seemed logical to kick 2012 off with a shiny new creation. One infused with positive energy, a new outlook, focused goals, fresh dreams & a re-sculpted me.

HOW am I going to do all this….? Hmmmm …. Actually, I have absolutely no dang idea. Just a few markers to guide and a destination, that’s it; and I actually like it like that! I’m sure it won’t all be smooth flying, but I will get there.

There’s no point in re-hashing, you can read my previous diaries Here and Here and Here (very short n sweet each one - promise!)

Briefly:
Early 2008 heralded Mr GA’s sudden critical illness, my Dad’s Relapse, becoming carer for both, then the loss of my Dad a few months later.
The ensuing time threw persistent challenges our way;
Loss of Mr GA’s Business / Dealing with Probate / Caring for Mr GA / Loss of My Work Contract / Increasing debts / Job Loss (again) / Mortgage arrears / Loss of my start up business / My Illness / Equity mortgage issues / Negative equity house sale /
Then Jan 2011; the equity company pushed for possession of Dad’s house. There are no words to describe what I felt at that point – suicidal doesn’t even cover it. I’ve never been so low, and I don’t ever want to visit it again. Luckily (the day before the threatened possession) a private mortgage angel threw me a lifeline, for which I’m eternally grateful.

SO…. August 2011 -: I returned to the boards because I admit, I can’t cope doing this all alone - I need the help on so many levels …. Budgeting, meal planning, cutting back, stretching resources, increasing resources etc - But also just as importantly, I need other people who understand. A good start’s been made - but I know it’s a long road forward with the increase in the debt, the total wipe out of credit rating, Mr GA’s permanent illness and only me with regular but P/T income to do it.

I’d love to have your company; so hop on board & choose a comfortable seat. For the duration of January – Mulled wine & fruit punch will be served, along with festive pies, cakes & nibbles. Please feel free to partake of banal banter & inane chattering, oddball observations & so forth, the more the merrier in my view.

Wishing all who stop by, a truly positive & abundant 2012 :A

Angel xxx

GreyhoundAngel

SOA – 01/01/2012 & Summary

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.................... 1

Monthly Income Details
Monthly income after tax................ 730
Partners monthly income after tax....... 0
Benefits................................ 350
Other income............................ 0
Total monthly income.................... 1080

Monthly Expense Details
Total monthly expenses.................. 984

Secured & HP Debts
Total secured & HP debts...... 140000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Old H/H Utility Bills..........1202.41...2.5.......0
C/Tax Back Owed................930.......2.5.......0
Water Back Owed................600.......2.5.......0
Old Bank O/D Debt..............2500......2.5.......0
Cap1 C/C Debt..................1700......2.5.......0
Lloyds C/C Debt................1500......2.5.......0
Old Business Debts.............2000......2.5.......0
Family Loan....................5000......0.........0
Dad's Owed.....................3938.59...2.5.......0
Total unsecured debts..........19371.....20........-

Monthly Budget Summary
Total monthly income.................... 1,080
Expenses (including HP & secured debts). 984
Available for debt repayments........... 96
Monthly UNsecured debt repayments....... 20
Amount left after debt repayments....... 76

Quick Summary

These are my targets I want to achieve - and my Overall Target is 5 Years including the Mortgages

Debts to repay (the 1st figure is the original debt / 2nd is £ repaid so far / the 3rd is balance owed

MTGE : 130,000 / 0.00 / 130,000
Neg Equity : 10,000 / 9,060 / 940
Sub Total Mtges : 140,000 / 9,060 / 130,940

H/H Utility Old Debts : 1,500 / 317.59 / 1,182.41
C/Tax (Back Payment) : 1,500 / 670.00 / 830
Water (Back Payment) : 900 / 300.00 / 600
Old Accounts O/Drafts : 2,500 / 0.00 / 2,500
Cap 1 C/C : 1,700 / 0.00 / 1,700
Lloyds C/C : 1,500 / 0.00 / 1,500
Old Business C/C & O/D : 2,000 / 0.00 / 2,000
Sub Total Debts : 11,600 / 1,287.59 / 10,312.41

Family Loan : 5,000 / 0.00 / 5,000
S/T OH Family : 5,000 / 0.00 / 5,000

Dad's Back-payments : 6,600 / 2,661.41 / 3,938.59
Sub Total Dad's : 6,600 / 2,661.41 / 3,938.59

Total Owed : 163,200 / 13,009 / 150,191

GreyhoundAngel

ACTION PLAN

Cash Neutral (keeping costs down / saving money with deals etc)
Quit Smoking (cut down but this needs to go!)
Meal Planning & Batch Cooking
Grocery Bulk Buying / Cheaper Sources
GYO / Chooks / Foraging (blackberries etc)
Vouchers & Coupons etc
Cut Bills
Make do and Mend / Freecycle / Recycle etc

Living Fund (daily living costs & basic debt payments)
Basic Wages from Main Job

Debt / Mortgage Fund (Ideas to up the Ante)
Over-Time (from Main Job) / Wages from 2nd Job (if poss)
Lodger (if poss)
Audit Work / M’shopping / Shop & Scan / Surveys / Daily Clicks & Cashbacks
Freelance Work
Paid to Advertise
Ebay / Carboots etc
Cottage Industry items (online & Fairs
Comps
Matched Betting (at a later stage)
Reward Account Bonuses (much later when / if I can get an account)
Anything Else I can think of !!!!

I will continue to use a couple of MSE Challenges to keep me motivated & focused
PAD (Payment a day Challenge)
Monthly £10 a Day Challenge
NSD (No spend day Challenge) = Well this is going to be everyday except essentials !! lol

I will also continue to use a couple of Props to aid me
Chunk It Challenge 1,000 x £250 Chunks (borrowed from a MFW diary)
Dream Board Pictures of what I want to achieve & anything else that will be motivational
“Jigsaw Pictures” of each section (ie house photo for the house finance etc), which are filled in as I pay chunks off.

Aesop

I'm here GA!!!!

Wow, WoW! is all I can say.

Well I am here for the journey, keep the mulled wine coming and let's wait for the other passengers and be airborne!

GreyhoundAngel

Hi Aesop ,,, Welcome & Lovely to have you aboard again

I'm determined to make things happen this year .. not just the finances, but the house, garden but things for me too. I'm going to feel good whilst doing it too .... think it's time to find some gladrags and have a boogie :rotfl:

Angel xxx

Aesop

ooh hang on while I dig mine out from the black hole they are in, and some heels..... can we have some average white band please and kool and the gang music.

chevalier

GreyhoundAngel wrote: »

SOA – 01/01/2012 & Summary

Statement of Affairs and Personal Balance Sheet


Quick Summary


MTGE : 130,000 / 0.00 / 130,000
Neg Equity : 10,000 / 0.00 / 10,000
Sub Total Mtges : 140,000 / 0.00 / 140,000 Correct

H/H Utility Old Debts : 1,500 / 297.59 / 1,202.41 Correct
C/Tax (Back Payment) : 1,500 / 570.00 / 930Correct
Water (Back Payment) : 900 / 300.00 / 600Correct
Old Accounts O/Drafts : 2,500 / 0.00 / 2,500Correct
Cap 1 C/C : 1,700 / 0.00 / 1,700Correct
Lloyds C/C : 1,500 / 0.00 / 1,500Correct
Old Business C/C & O/D : 2,000 / 0.00 / 2,000Correct hmm so why doesn't the total add up? Sorry Grey
Sub Total Debts : 11,600 / 1,167.59 / 7,771 10432.41? Sorry to increase your debt, but the total left to pay wrong some how. Should be the figure in red?

Family Loan : 5,000 / 0.00 / 5,000
S/T OH Family : 5,000 / 0.00 / 5,000

Dad's Back-payments : 6,600 / 2,661.41 / 3,938.59
Sub Total Dad's : 6,600 / 2,661.41 / 3,938.59

Total Owed : 163,200 / 3,829.00 / 159,371

Sorry to add to your debt, but I thought the figures looked a bit squiffy. Hope that it doesn't get you too down.
Good luck with 2012
chev

GreyhoundAngel

chevalier wrote: »

Sorry to add to your debt, but I thought the figures looked a bit squiffy. Hope that it doesn't get you too down.
Good luck with 2012
chev

Hi Chev,

That's what happens when you copy & paste from different files :rotfl: I've amended it now, but it's okay ... it's not added anything to my overall total - as I did copy that one right

Angel xxx

beanielou

Sits down & puts on seatbelt!

The_Dragon

I'm buckling in as well - good luck with the next stage GA

boredofbeingathome

Helloooo there, good luck with the New Diary.

BOB x