Scared as Hell

wiggles01

this weekend i did a lot of thinking about my past, my present and my future..

my past was a mess, a broken relationship leaving me with debt and an emotional hole that I tried to fill by buying stuff and spending money going out - if i wasn't at home on my own I didn't dwell over the past

I feel so stupid when I look at what i've been doing for the last 3 years, i've slowly paid some debt off, a loan, a car but i've not really made any in roads into the huge credit cards I racked up trying to avoid being in my own company

I've come through a lot in the last 3 years personally i'm over the bad times, i've pieced back together my life and let go of the mental abuse my ex put me through and i've met the most amazing man in the world and i'm so happy and i want to move on....but my debt i holding me back..

I owe:

1. £240.06 to my electricity company
2. £240 to my management company
3. £700 to my service management company
4. £169.89 to Pounds2Pocket
5. £5809 to Barclaycard
6. £4149 to Santander
7. £522 to Capital one

I feel sick thats the first time i've wrote it all down and looked at it together... i've been such an idiot I could cry this is all my fault....

I've spent hours and hours reading through this site and I think i can do this. I know I can i have a reason now...

I've got an action plan:

• Get a better paid job - easiest way to up what i can afford to pay the debts
• Sign up to mystery shopping
• Sign up to survey sites
• Ring electricty company to see if I can spread my debt
• Have a sort through to see if I have anything to sell on ebay
• Read MSE oldstyle

I think the hardest thing about this is that I can't let anyone know, my parents would be ashamed, or my BF...we have so much going for us we are talking about moving in together next year - I need to clear this so my ex isn't hanging over us anymore.

I'm going to do my SOA...i'll be back

thanks for listening, feel a bit more in control

wiggles01

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................ 1800
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1800

Monthly Expense Details
Mortgage................................ 445.6
Secured/HP loan repayments.............. 0
Rent.................................... 4.16
Management charge (leasehold property).. 100 Includes Water
Council tax............................. 75
Electricity............................. 60
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 17.5
Mobile phone............................ 50.4 This ends in sept - not soon enough!
TV Licence.............................. 12.18
Satellite/Cable TV...................... 37.5
Internet Services....................... 50
Groceries etc. ......................... 60
Clothing................................ 10
Petrol/diesel........................... 50
Road tax................................ 15
Car Insurance........................... 26
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 241.8
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 30
Contents insurance...................... 9
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 0
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 1369.14

Assets
Cash.................................... 0
House value (Gross)..................... 125000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 1000
Total Assets............................ 128000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 74115....(445.6)....4.5
Total secured & HP debts...... 74115.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................5809......92........0
Santander......................4149......75........0
Capital1.......................522.......12........0
Total unsecured debts..........10480.....179.......-

Monthly Budget Summary
Total monthly income.................... 1,800
Expenses (including HP & secured debts). 1,369.14
Available for debt repayments........... 430.86
Monthly UNsecured debt repayments....... 179
Amount left after debt repayments....... 251.86

wiggles01

Ok so things to point out - i've started a DMP - sent all my letters off so i'm hoping interest will be 0%

My Sky is my saviour I've stopped going out and to avoid it being apparent i've run out of money my BF and I have started to do Friday night Film night where we cook something (cheap) and watch films all night - so I'd really like to hold on to that subscription If i can... I might see if I can haggle the price maybe

Tixy

Hi, welcome and well done for facing up to things.

Are you doing a self-managed DMP? have you had some advice on setting your repayment level? And which debts have you included in it? as at the momet you are showing a surplus, although I note you haven't included the payday loan etc.

Understand you might want to keep the sky - but the landline & internet look very expensive on top of this - can you get a combined deal? or look to reduce the internet cost somehow?

Is the other travel public transport? and is this for commuting? and I guess the next question to ask is if a car is essential and if you could manage without one to save the running costs?

snozberry

Well done in facing up to things. You have done the hardest thing and now you are doing something about it.

If you ring up Sky and say that you are thinking about leaving they sometimes reduce the payments.

Surveys are good for treats and so, too, is Shop and Scan and Mystery Shopping.

You will get there - just take it one step at a time.

pineapple

That satellite plus internet is very expensive. Look at either a combined deal or going to Freesat from Sky. You could get a DVD if there aren't any decent films on the free channels.
The internet cost is itself expensive. Mine is around £15 per month including some telephone calls!
On the other hand I find your groceries budget very low.
Is that for EVERYTHING? - ie food plus general household plus toiletries
What is the 'other travel'?
Are you so sure you won't need a dentist or do you have cover through your employer?
I think you should tell your fella sooner rather than later especially if you are thinking of setting up home together. Otherwise it will be hanging over you. Plus even if you use every single spare cent in repaying debts - it will take more than a year. If he walks, he is not the right guy for you.

wiggles01

Thank you everyone really appreciate they support just talking to you all feels like a weight off my chest I will tell him just not while its as big as it is I think he will freak as much as i did when i wrote it all out I feel embarrased I want to be in control right now i feel a bit overwhelmed.

I'll call sky tomorrow and see if that will help - thanks guys

I did add the payday loan as that will be paid off this month, I wanted to set up a more perminant budget - maybe i should put it in - thanks x

The other travel is communting and I have to drive to the nearest station everyday

the food budget is super low i've been eating pasta, bread, rice and cuppa soups and frozen stuff! I have noticed the 50p meal thread so I might have a look on there.

i've entered loads of competitions tonight I figured i can sell stuff - i just hope some of your luck rubs off on me and i've dug out an Nano that i haven't used for ages - might be able to get something for that on ebay

Teatime

Hi Wiggles.
It is scary, isn't it, facing up to it all?
I'm scared too.

Maybe you could start preparing your man by maybe mentioning some debt? That way he won't get such a shock?

Autumn86

How on earth can your internet cost £50 p/m?? lol

I have sky unlimited usage (20MB speed) internet for just £7.50 p/m.

ineed

You are paying well over the odds for Internet at £50 PCM. As others have said Sky unlimited is only £7.50 PCM and if you take phone and line rental with them too as I do you get an even better deal. I pay £15 roughly PCM for Sky unlimited broadband, telephone line rental and phone with free evening and weekend calls and free to selected countries international calls. http://www.sky.com/shop/broadband-talk/ in case your interested in some of the deals also you mentioned haggling for a better deal, you should do this 100%. Sky are able and often willing to sort out a better price to keep your custom. I totally understand about needing Sky tv btw, I don't know what I'd do without mine.

I think you might have to knock your entertainment and present allocated money on the head for a bit until your in a better situation financially. Also your emergency fund, think now might be the time to use all spare money on your debts.

Listen I know it's going to be really hard for you but I think you should think about telling your family about this. Your going to need support and maybe they will be a bit upset at first but I'm sure they would want to know so they could support you emotionally. You really don't want to go it alone if you can help it. Good luck .

wiggles01

Teatime wrote: »

Hi Wiggles.
It is scary, isn't it, facing up to it all?
I'm scared too.

Maybe you could start preparing your man by maybe mentioning some debt? That way he won't get such a shock?

That might be a good idea thanks!