Hiding your debts? Think you can cope on your own?

Loubylou2

I've not looked at your SOA in detail but I can't see how you would get the consolidation loan as you have so little to spare plus I can't see how you would be able to afford it without the guarantee of a second job.
I am speaking from experience as we consolidated more than once (and in those days banks didn't check how feasible that was for us) and just ended up with huge loans and still had to go on a DMP.

Almost everybody offering you advice has been in a similar position to you. No one is judging you but brutal honesty is what is needed now in order for you to bite the bullet and get this sorted.
Honestly the support on these forums was invaluable in the early days of my DMP.

fredandwilma

Rochdale_Guy wrote: »

Don't worry FeeFeeDee I will never forget the incredible warmth and kindess shown to me on here, ever.

You lot are keeping me going, although you must be frustrated as **** watching me from the sidelines spinning round and round then dizzily wandering off in the wrong direction when you're all shouting, "No! Go THAT way.....", ha ha.

:beer:

P.S. I owe you something too FFD, I haven't forgotten. :A

Its to be hoped FeeFeeDee didn't do something stupid?

cappo

Rochdale_Guy wrote: »

Here's my SOA with all the debts included, didn't know how to put the £200 bank overdraft down, but I'm always near the limit each month.
I am gutted that it's nothing like the one I did a while ago and this says I only have £57 available each month to offer CCCS to offer the creditors

It's gonna be more like 20 years now, I am sooooo upset and deflated as I was quite positive when I approached doing this SOA, and I still don't know what basic bank account to open. I don't understand as I don't drink, don't smoke, dont go clubbing, don't go out for meals, don't go to the cinema and don't even really rent DVD's.

Everyone is putting their bills up... BT, British Gas, EON electric, food is going up, petrol is going up, the minimum repayments on my debts are going up and the interest rates on the cards are going up.

The only thing going down is me

Read and weep....

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1


Monthly Income Details
Monthly income after tax................ 1034
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1034


Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 310
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 21
Gas..................................... 22
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 24
Mobile phone............................ 10
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 18
Groceries etc. ......................... 130
Clothing................................ 15
Petrol/diesel........................... 50
Road tax................................ 12
Car Insurance........................... 92
Car maintenance (including MOT)......... 42
Car parking............................. 40
Other travel............................ 5
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 14
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 5
Holiday................................. 50
Emergency fund.......................... 10
Total monthly expenses.................. 977


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2200
Other assets............................ 0
Total Assets............................ 2200

No Secured nor Hire Purchase Debts


Unsecured Debts
Description....................Debt......Monthly...APR
MBNA Visa......................9088......296.......34
MINT Visa......................5940......133.......24
RBS M'Card.....................3526......81........18
Bank overdraft.................200.......0.........0
Citibank Visa..................1675......39........31
N/Rock car loan................2747......106.......7.1
Barclaycard....................3284......99.......34
Total unsecured debts..........26460.....754.......- !


Monthly Budget Summary
Total monthly income.................... 1,034
Expenses (including HP & secured debts). 977
Available for debt repayments........... 57
Monthly UNsecured debt repayments....... 754
Amount short for making debt repayments. -697

Personal Balance Sheet Summary
Total assets (things you own)........... 2,200
Total HP & Secured debt................. -0
Total Unsecured debt.................... -26,460
Net Assets.............................. -24,260


Created using the SOA calculator at https://www.makesenseofcards.com.!
Reproduced on Moneysavingexpert with permission, using other browser.


Anyone on here still confident for me? I don't think so now I've posted that.
I'm going for a lie down, this is too much for me to handle, sorry guys........

:shocked: :sad: :undecided :wall:
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.
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Keep your chin up, it is hard i know i was exactly where you are now, something will come up it always does.

FabuLass

fredandwilma wrote: »

Its to be hoped FeeFeeDee didn't do something stupid?

Ive done nothing but offer my support as Im starting my debt free journey also. Thanks for ur concern.

nikkiuk

I've read through your thread and can tell that you are really struggling and are not in a good place right now.
I know you have said that you don't want to get rid of your car, but in adding up all your monthly expenditure which is car related, you are currently spending £236 each month-very nearly a quarter of your income. That is without the car loan payments.
I would certainly be looking at selling your car, throwing the money you get for it at one of the debts and even taking public transport costs in to consideration, you will be freeing up quite a bit of cash each month for debt repayment.
Something has to give, and as hard as it is, you have to face facts-you can't afford to run a car at the moment.
Good luck. x

Rochdale_Guy

FeeFeeDee wrote: »

Ive done nothing but offer my support as Im starting my debt free journey also. Thanks for ur concern.

Leave FeeFeeDee alone. I owed them a PM, that's all, not money in case any of you were wondering :mad:

Honestly! Will be back later everyone

Rochdale_Guy

Aaaaargh

Been trying to ring CCCS, done it 5 times, hung up each time they say "sorry, they can't answer my call right now".

6th time I stayed on the line and the automated message continued: they are open 8am to 6pm Monday to Fridays

The website states:

Call our Helpline
Our FREEPHONE helpline is open from 8am to 8pm Monday to Friday and 9am to 2pm on Saturday.

Looks like another wasted night of getting nowhere fast. Will have to try at 8am tomorrow morning and hope I won't be late for work. Was late today as the bank didn't open until 9.30am and I had to pay my £2 in to make my overdraft -£198.99.

Sheesh

Rochdale_Guy

Angry_Bear wrote: »

Yes. That is the point of CCCS, they're not a creditor and don't try to force you into paying as much as possible. They take a realistic look at what you can afford and get your creditors to accept a portion of that. In most cases (not necessarily all), interest will be frozen so you will actually be eating into the debt. If your circumstances improve, you can increase your payments and reduce the term (or save to make settlement offers).

I can't urge you to call them strongly enough, you sound so depressed about your situation and the people there really can give you some control back over your life.

Thank you.

Rochdale_Guy

Loubylou2 wrote: »

How did you get on with CCCS RG??

They were closed
See two posts above.

Rochdale_Guy

cappo wrote: »

Keep your chin up, it is hard i know i was exactly where you are now, something will come up it always does.

Thanks also.

If I can cut my car insurance in half from £1k to around £500 (it'll never happen ), and be more thrifty with food spends and toiletries, and also cut down on the clothes spend each month (I've only bought 1 pair of trainers and a new Matalan sale coat in the last 12 months), then I could squeeze another what?, £52 on the car insurance, maybe £20 on food and £10 on clothing a month, that now makes the original £57 plus £52 plus £20 plus £10 = £139 a month available, which is better.

But I can't submit that original SOA or this new hypothetical SOA total to the CCCS as my insurance isnt up for renewal until mid April

Spinning
.............head
....................time
............................:eek: