Time for action - so scared

WantToBeFree

I have been reading this site for over a year now, in particular this forum. I've been on all the recommended sites for BR info and tbh have been totally baffled by it all, not sure what to do first even tho I knew I had no option but was just so scared of moving forward.

I went on the Christians Against Poverty site tonight, and found it so much more 'human' than the rest, so have finally plucked up the courage and requested they contact me tomorrow to arrange a visit.

Can anyone tell me what to expect. I'm so embarrassed to admit my situation, that I need help, and my finances are in complete disorder (which is why I felt overwhelmed at the thought of doing the paperwork, bank acc's etc myself) and wont really know where to start.

Sorry to ramble on but I have unopened post going back over year, and am scared everytime the phone rings or the door bell goes, I'm not sleeping any more and the whole situation terrifies me

WantToBeFree

I have done my SOA, any advice on this would be much appreciated:o

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 1645
Other income............................ 350
Total monthly income.................... 1995
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 145
Electricity............................. 30
Gas..................................... 20
Oil..................................... 0
Water rates............................. 13
Telephone (land line)................... 40
Mobile phone............................ 23
TV Licence.............................. 13
Satellite/Cable TV...................... 19
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 45
Petrol/diesel........................... 140
Road tax................................ 24
Car Insurance........................... 48
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 40
Total monthly expenses.................. 1970

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
total..........................18500.....300.......0
council tax....................700.......350.......0
Total unsecured debts..........19200.....650.......-

Monthly Budget Summary
Total monthly income.................... 1,995
Expenses (including HP & secured debts). 1,970
Available for debt repayments........... 25
Monthly UNsecured debt repayments....... 650
Amount short for making debt repayments. -625
Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -19,200
Net Assets.............................. -17,200

The debt is a combinatin of credit cards, loans and overdrafts.
Thank you!

WantToBeFree

Gee thanks for that very helpful advice!!!

That is Income support at £67 pw.
Child tax credits £108 pw
Housing benefit £141 pw
Child benefit £33 pw
Council tax benefit £28pw

I have been working full time up until now, have been doing my best to clear to debt and cleared 2 of them fully in the last 6 months, and have just lost my job due to cutbacks.

You honestly think I want to live on handouts???!!! :mad:

Thank you for making a scared newbie to this site feel even more crap than I already do!!

NeverAgain_2

You have nearly £2K a month coming in, which you ought to be able to manage on.

Groceries at £450 could be severely chopped and £50 a month for presents could go down, as could £45 on clothing.

mcfisco

If you're now not working, the car costs look excessive - can you do without it?

WantToBeFree

The car is 8 years old, had it from new, I have to drive my childre 5 miles to school everyday and once a fortnight have to drive them 100 miles to see their father, part of the divorce agreement which I cant get out of.

I would be happy to sell it and get something older but I would then be scared of additional costs of an older car breaking down, kind of better the devil you know. However if I have to sell it then I'm happy to do so.

Esoog

WantToBeFree wrote: »

Gee thanks for that very helpful advice!!!

That is Income support at £67 pw.
Child tax credits £108 pw
Housing benefit £141 pw
Child benefit £33 pw
Council tax benefit £28pw

I have been working full time up until now, have been doing my best to clear to debt and cleared 2 of them fully in the last 6 months, and have just lost my job due to cutbacks.

You honestly think I want to live on handouts???!!! :mad:

Thank you for making a scared newbie to this site feel even more crap than I already do!!

Not a personal comment on your situation, which I am unaware of, just a statement about what's the point in working when you can "rake it in" by not working.


Telephone (land line)................... 40 - Seems High to me. Coupled with the mobile; can you not get a mobile deal with free minutes for less?
Mobile phone............................ 23
Satellite/Cable TV...................... 19 - Sack it off and get freeview. Tell the kids tough! :]

As someone has already said £50 for presents is high, it was fine when you were working but things have changed now I'm afraid?

WantToBeFree

Esoog wrote: »

Not a personal comment on your situation, which I am unaware of, just a statement about what's the point in working when you can "rake it in" by not working.

Beleive me I would much rather be working and am looking every day. I was earning almost twice as much before this, although most of it went on child care, so its now a huge struggle.

Wally85

Even though its only £19 I would drop the sky.
If you don't work how do you accumulate £140 in petrol charges every month? I commute 10 miles to work each way, 5 days a week and that's what I spend on fuel.
If you have a mobile and a landline does the mobile come with free minutes? since you don't appear to have the internet can you not drop the telephone line and just use your mobile?
Also groceries at £450 p/m? How old are your dependants? this figure seems very high.

I know you were asking about bankruptcy but I think you could make enough savings in your budget to pay off your debts without it.

DorsetGirl_2

This isnt the place for judgement - you dont know WTBF's circumstances.

Esoog

WantToBeFree wrote: »

Beleive me I would much rather be working and am looking every day. I was earning almost twice as much before this, although most of it went on child care, so its now a huge struggle.

Well, you must have some useful skills etc so I'm sure you'll find a new job before too long, just make sure you are looking in the right places and brush up the old cv!

The "fact" is that plenty of people would love an income like yours and many people with kids that work don't get that much so count yourself "lucky"


Dorset; I'm not making personal judgements, just statements.