Time to face up to eveything

needsomehelp2010

Its now 100% my time to face up to what I owe people, I had been hiding it away from everyone, my wife etc and now she has found out, why oh why did I not just tell her in the first place rather than lying to her!!:mad:

We are so deep in debt I dont have the first clue where to turn and I have just lost my job as well

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1009
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1009
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 45
Gas..................................... 0
Oil..................................... 0
Water rates............................. 10
Telephone (land line)................... 20
Mobile phone............................ 70
TV Licence.............................. 11
Satellite/Cable TV...................... 55
Internet Services....................... 20
Groceries etc. ......................... 50
Clothing................................ 10
Petrol/diesel........................... 30
Road tax................................ 0
Car Insurance........................... 23
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 25
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 5
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 1159

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 2000
Car(s).................................. 5340
Other assets............................ 0
Total Assets............................ 7340

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Various Debt Colletor..........6917.38...0.........0
Utilities behind...............1118.91...0.........0
Overdrafts.....................9000......0.........0
Total unsecured debts..........17036.29..0.........-

Monthly Budget Summary
Total monthly income.................... 1,009
Expenses (including HP & secured debts). 1,159
Available for debt repayments........... -150
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -150
Personal Balance Sheet Summary
Total assets (things you own)........... 7,340
Total HP & Secured debt................. -0
Total Unsecured debt.................... -17,036.29
Net Assets.............................. -9,696.29
.


Obviously hopefully I will get a new job soon and we are moving in to my parents when our rental contract expires in 2 months now, we also owe some money to friends/family as well!!

It just seems so much!!

Is there any positives in this??

Thanks for any help in advance

vasseur

needsomehelp2010 wrote: »

Its now 100% my time to face up to what I owe people, I had been hiding it away from everyone, my wife etc and now she has found out, why oh why did I not just tell her in the first place rather than lying to her!!:mad:

We are so deep in debt I dont have the first clue where to turn and I have just lost my job as well

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1009
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1009
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 45
Gas..................................... 0
Oil..................................... 0
Water rates............................. 10
Telephone (land line)................... 20
Mobile phone............................ 70 too high, when do your contracts end?
TV Licence.............................. 11
Satellite/Cable TV...................... 55 you can't afford this, when does your contract end, get freeview instead
Internet Services....................... 20
Groceries etc. ......................... 50 too low for 2 of you - is this a weekly figure?
Clothing................................ 10
Petrol/diesel........................... 30 is this weekly? if monthly is it worth having the car for so little use?
Road tax................................ 0 you need a figure in here
Car Insurance........................... 23
Car maintenance (including MOT)......... 0 you need something in here
Car parking............................. 0 none at all?
Other travel............................ 25
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 you should have something here
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 5
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 1159

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 2000
Car(s).................................. 5340
Other assets............................ 0
Total Assets............................ 7340

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Various Debt Colletor..........6917.38...0.........0
Utilities behind...............1118.91...0.........0
Overdrafts.....................9000......0.........0
Total unsecured debts..........17036.29..0.........-

Monthly Budget Summary
Total monthly income.................... 1,009
Expenses (including HP & secured debts). 1,159
Available for debt repayments........... -150
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -150
Personal Balance Sheet Summary
Total assets (things you own)........... 7,340
Total HP & Secured debt................. -0
Total Unsecured debt.................... -17,036.29
Net Assets.............................. -9,696.29
.


Obviously hopefully I will get a new job soon and we are moving in to my parents when our rental contract expires in 2 months now, we also owe some money to friends/family as well!!

It just seems so much!!

Is there any positives in this??

Thanks for any help in advance

I've put some comments in. I assume some of your bills will go when you move in with your parents? Will you be paying them something?

I'm sure someone more knowledgeable than me will be along in a while.

Good luck with the job search.

antonia1

needsomehelp2010 wrote: »

Its now 100% my time to face up to what I owe people, I had been hiding it away from everyone, my wife etc and now she has found out, why oh why did I not just tell her in the first place rather than lying to her!!:mad:

We are so deep in debt I dont have the first clue where to turn and I have just lost my job as well

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1 Is the car absolutely necessary?
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1009
Benefits................................ 0 Have you checked you are getting everything you are entitled to?
Other income............................ 0
Total monthly income.................... 1009
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 0 Do you not pay this?
Electricity............................. 45
Gas..................................... 0
Oil..................................... 0
Water rates............................. 10
Telephone (land line)................... 20
Mobile phone............................ 70 Way too high, is this contract or PAYG?
TV Licence.............................. 11
Satellite/Cable TV...................... 55 Needs to go
Internet Services....................... 20
Groceries etc. ......................... 50 Is this definitely right, it seems too low
Clothing................................ 10
Petrol/diesel........................... 30
Road tax................................ 0 need something here
Car Insurance........................... 23
Car maintenance (including MOT)......... 0 Need something here
Car parking............................. 0
Other travel............................ 25
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0 Need something here (even just dentist visits)
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 Do you not have this?
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 5
Holiday................................. 20 You can't afford a holiday at the moment
Emergency fund.......................... 0
Total monthly expenses.................. 1159

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 2000 Could you sell and pay off some debt?
Car(s).................................. 5340
Other assets............................ 0
Total Assets............................ 7340

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Various Debt Colletor..........6917.38...0.........0
Utilities behind...............1118.91...0.........0
Overdrafts.....................9000......0.........0
Total unsecured debts..........17036.29..0.........-

Monthly Budget Summary
Total monthly income.................... 1,009
Expenses (including HP & secured debts). 1,159
Available for debt repayments........... -150
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -150
Personal Balance Sheet Summary
Total assets (things you own)........... 7,340
Total HP & Secured debt................. -0
Total Unsecured debt.................... -17,036.29
Net Assets.............................. -9,696.29
.


Obviously hopefully I will get a new job soon and we are moving in to my parents when our rental contract expires in 2 months now, we also owe some money to friends/family as well!!

It just seems so much!!

Is there any positives in this??

Thanks for any help in advance

I've added a few comments, though I'm not sure how helpful they will be. You might be best speaking to a free debt organisation like CCCS or Payplan to discuss your options.

Obviously you will be better off when you move in with your parents, so you need to find a way to manage until then. If you are only spending £30 per month on petrol, then you can't be travelling far in the car, so I would recommend selling that, along with the shares and pay off some of the debts.

downsizer3

Echo that - bin the shares and the car if at all possible.
Get onto CAB or a similar ( free) debt advisory bdy and let all your creditors know your SOA and set up repayment plan.
Presumably you will get some benefits - add them in when you know them.
Have you anything you can sell / ebay?