help. my SOA

shamu95

we been together 8 years and we have 2 kids. hes like this with everything its a nightmare. the reason i got into debt was coz i got very ill when pregnant with my son and ended up in hospital for 3 mths. oh had the time off work to look after our daughter. my grandparents covered mortgage and his dad helped him out. however i was then off work for a year on sick. my payment protection paid out on a loan and that was it due to the fact i'd been pregnant at the time. hence the robbing peter to pay paul.
the oh then said last year that he would sign for a secured loan and that did reduce my outgoings but still a shortfall hence my position now.
i'm not afraid of hard work and i will do it. me and oh split for a bit but i can't afford to leave. so we trying to make things work but he has said he wont help finacially at all

misspoppy

Well if you can't pay that secured loan he will loose his home. Why did you get into debt while your were pregnant with his child. You BOTH got into debt while your were ill. Its not for anyone to tell you what to do only you can decide but it sounds like he's in denial and is burrying his head in the sand.

onedayiwill

shamu95 wrote:

me and oh split for a bit but i can't afford to leave. so we trying to make things work but he has said he wont help finacially at all

Then he is not trying to make things work.

The only reason my OH does not help with my debt is because I am too chicken to tell him - when I tell him, I know he will be supportive. Sure, I'll still have to pay back all my debt by myself, I don't expect him to pay it - it's my debt after all, but I expect him to support me as much as he can while I do so. We will have to tighten both our belts to help me get my debts paid, but we will both better off in the end. Now I just have to get the courage to tell him!

I wish you luck in finding a way out of your debt. I really think you should consider a DMP if OH is not willing to help.

*zippy*

Really feel for you shamu

If you you are in debt because you were off ill after having your child it is not just your debt, but his as well.

Does he pay towards the children now? also does he earn about the same as you?

shamu95

thank you all for your sound advice. i will keep you updated on my declining debts. gonna think positive and pray for some luck

shamu95

Hi here is my updated soa. any help gratefully received.
Thank you

shamu95 wrote: »

Essential outgoings

secured loan £36000 @ 8.8% variable £375.86
joint account £460 totally non-negoitable. have spoke to partner millions of times but like talking to brick wall. my debts my problem.
shopping £100
savings £40 cashbuilder account currently worth £1800
emergency fund £25
mobile £35 inc free broadband
insuranc £6
income protection £7.50
Pension £31.88 have sent a letter to stop this but need to follow up
car £50 inc parking
gym £12 3 year contract and try as i have i cant get out of it
Total £1143.24

debts.

Citifinancial £12572.89@15.95 £377.19
halifax visa £6672.23 @ 22.53% £133.43 (limit is £6500 and they have court order to pay back charges of £240 which they say will take 90 days i have 62 days left to wait)
Dad £7000 @ 0% £125
abbey £1762.19 @ 22.44% £52.86
Morgan stanley £908.60 @ 0% £19
Mbna £2400 @ 0% till may 08 £72

Total £31315.91
£779.48 per month

Income

main job £1200
Avon £100
child benefit £118
grandparents £100
'taxi' box £20
Family tax credit £40
Playgroup £60
Mystery shopping £25
Ebay sales £50

Total £1713

Now i know that looks like i have a mass shortfall but i have put my earnings down as my guareented income. As the amount of extra work i get varies. For example in june my playgroup wage will be double and my mystery shopping earnings was £85 last month.
Also my grandparents have helped giving me a fair bit of help recently.
my other problem is that all my income is variable and im finding it really hard as i get paid every 2nd thursday from main job and every 3 weeks from avon. grandparents also give me money every other thursday and as i dont have any money in my account even when my monthly amount earnt does equal my monthly outgoings i will have gone overdrawn at some point then im charged etc.

can anybody suggest anything please.

SortingIt_2

Hi there,

Just quickly looked through in lunch break at work, will have a proper look again later in detail but......

Emergency fund £25 (weekly or monthly)- this is an emergency! Can you not put this towards a debts?

Re April debts - you have noted Studio £20 - can you not use the emergency fund to clear this this time round??

I think maybe you should try and tackle a couple of the smaller ones, say mastercard and capital one- once you see these go you will feel better. Like they say one small step at a time - I am currently aiming to clear a 400 debenhams card then on to the other thousands!!

Re shopping - is this monthly or weekly?? Doe OH contribute?? Or do you have some sort of arrangement?

Right better get back to work but will post again later.

I am sure you will receive lots of friendly and helpful advice from others to get you on your way!

shamu95

Hi just to clear a few thinks studio £20 in sig relates to reclaimed charges. must update signiture. Both cap 1 cards and barclycard have been transferred to mbna on 0% till next may. shopping is monthly and includes everything. although i only spent £70 last month. He pays the same as i do.
Not sure if i mentioned this anywhere before but am in court july 27th for tsb bank charges. claiming for £2500 which will obv help a lot.

Hope you have a good day at work if that is possible.lol

shamu95

ps emergency fund is monthly into my own savings account and did empty the pot to pay off debt. prob only £25 in there now.

lynzpower

secured loan £36000 @ 8.8% variable £375.86
joint account £460 totally non-negoitable. have spoke to partner millions of times but like talking to brick wall. my debts my problem. ( is thge mortgatge in both your names tho?)
shopping £100
savings £40 cashbuilder account currently worth £1800 ( for heavens sake pay off debt with this)
emergency fund £25 (and whats in there)
mobile £35 inc free broadband ( can you downshift this and keep the "free broadband"c personally, i think you should get a tesco value broadband or even dial up and go PAYG, doing this would free up 20.00 pcm)
insuranc £6
income protection £7.50 ( do you need this)
Pension £31.88 hav/e sent a letter to stop this but need to follow up ( have you followed this up)
car £50 inc parking
gym £12 3 year contract and try as i have i cant get out of it ( any joy)
Total £1143.24

debts.

Citifinancial £12572.89@15.95 £377.19
halifax visa £6672.23 @ 22.53% £133.43 (limit is £6500 and they have court order to pay back charges of £240 which they say will take 90 days i have 62 days left to wait)
Dad £7000 @ 0% £125
abbey £1762.19 @ 22.44% £52.86 ( if you used savings to clear this debt it would make life easier )
Morgan stanley £908.60 @ 0% £19
Mbna £2400 @ 0% till may 08 £72

Total £31315.91
£779.48 per month

Income

main job £1200
Avon £100
child benefit £118
grandparents £100
'taxi' box £20
Family tax credit £40
Playgroup £60
Mystery shopping £25
Ebay sales £50

Total £1713



can anybody suggest anything please.

your shortfall is looking no better, I agree with what Clapton says, I dont think you have any other option but to go for a DMP or IVA

why are you not going for this?