I have been a crazy fool, first post, SOA

Been_a_Crazy_Fool

Hi there,

I have had a tough couple of years with some illness and a breakup with my girlfriend, not excuses, just scenarios that I did not recover from well.

After moving back with my parents, managing to keep my job, get in shape, one year on from the sadness I need to confront the black cloud of doom that is my finances if I am ever going to truly move on, I have kept the amount up to this weekend secret from the whole world including my parents.

This weekend mum sat me down and said, "You get a lot of envelopes through the door, I am worried you are in a lot of debt, are you?" my response was, "Well a bit...." (To anyone that is worried about telling someone please do it, I was coming close to having some very dark thoughts because if my debt and literally seconds after talking about it with my mum I felt like a huge weight was lifted from my shoulders and I was motivated to do something about it)

My scenario right now is living at home with my parents where I should be living closer to my work with other people my own age I am 28. I have a total of £12,075.00 worth of unsecured debt. It started on the day i started @ university when I was asked if I wanted a free popcorn maker to apply for a credit card with Barclay card and has built up ever since. In a way that was one helluva expensive popcorn maker. (I will also mention that I have another £5500.00 left on a loan from my mum on a car she bought for me Making my total Debt £17,575):eek:

My problem has been increasing since I was 18 but has accelerated over the past year with Payday Loans, the breakup of my relationship and not coping with that very well...it felt like I was comfort spending! I am completely aware that I am the responsible person for my Debt problems, that I have a problem, and I am serious about doing something about it. Having never ever considered a budget and just spent spent spent I am now in a really uncomfortable life affecting situation of debt.

My mum recommended that I go online and look up citizens advice, before I got there I ended up here and WOW I got some awesome advice, I have already managed to list out all my debts, made a budget and looked up companies like CCCS and PayPlan that say they might be able to help me, if even just to talk about my problem. Everything now makes sense.

I will add at this point something (The only thing) that has been making me chuckle this weekend while doing my finances, i have been watching the sopranos recently, my debt problems and my payday loans, remind me of the !!!!!! it is the same format, crazy interest, you shouldn't get involved if you cant afford it and making money from debt, hopefully no one ends up wit cement boots capisce?! :j

I have gone through CCCS online debt remedy and will be calling them tomorrow to go through what I have already done online, I have many questions from them and just hope they can do something with me, I am thinking a DMP is necessary but dont know if they will accept me into their plan, hoping they do but am still determined no matter what to get debt free.

Thank you for reading, I am not sure what else to say except any pointers or obvious mistakes I am making, any of you can provide me with would be awesome but as a community you have done so much already just by letting me read these posts, I can see light at the end of the tunnel, before I couldn't. I know it will be the hardest thing I have done, but I am ready for it!

I have added some of these even though I am not paying them yet, I want to move out of this house ASAP by December 2nd this year. SOA Below...Here goes!

My Debts:
Barclaycard Credit Card £7,500
Collection Services Satellite cancellation fee £38
La Fitness unpaid GYM Membership Other £90
Past Due Credit Solutions Landline Cancellation £129
PaydayUK Payday loan £129
Santander Credit Card £2,189
Santander Overdraft £500
Wonga Payday loan £1,500
TOTAL £12,075

+Loan from mum £17,575

My Budget

Rent ....................................................£270
Mortgage...............................................£0
Secured loans.........................................£0
Charging / Inhibition order.........................£0
Mortgage endowment premium...................£0
Service charge/ground rent.......................£0
Water...................................................£0
Council tax............................................£0
Gas .....................................................£20
Electricity .............................................£20
Other household fuels..............................£0
Household Services Amount Comments........£0
Building/contents insurance ......................£4
Telephone/mobile/internet ........................£10
TV licence .............................................£2
Satellite ................................................£5
Repairs/maintenance................................£0
Household appliance rental........................£0
Child maintenance....................................£0
Childcare................................................£0
Fines/CCJs/decrees..................................£0
Life insurance/pensions.............................£0
Medical/accident insurance........................£0
Hire purchase..........................................£0
Transport Amount Comments.....................£0
Spares/servicing .....................................£15
Road tax ...............................................£9
Insurance...............................................£0
Breakdown cover ....................................£3
Fuel/parking ...........................................£40
Public transport ......................................£44
Food & Housekeeping Amount Comments......£0
Food, toiletries, cleaning ..........................£189
School meals/meals at work ......................£1
Pets/pet foods/insurance..........................£0
Tobacco £5 Reduced from ........................£39
Misc. Goods & Services Amount Comments...£0
School trips/activities..............................£0
Medicine/prescriptions..............................£0
Dentist/opticians ...................................£17
Hairdressing ...........................................£7
Union/professional fees.............................£0
Laundry/cleaning....................................£10
Education fees.......................................£0
Personal & Leisure Amount Comments.........£0
Clothing/footwear ..................................£28
Newspaper/magazines.............................£0
Sports/hobbies/entertainment ..................£5
Children's pocket money...........................£0
Church contributions...............................£0
Sundries & Emergencies Amount Comments..£0
Sundries/emergencies ............................£14
Loan from family/friends ........................£220


Total Income £1,225
Total Expenditure £972
Surplus £253

Thanks for reading!

McKneff

What a lovely understanding mum you have but I dont understand all the bits and bobs if you are living at home or have I got that wrong.

Ask your mum if you can pay a set amount of board each week/month.

That should free up an awful lot of money to throw at your debts.

Stop beating yourselfup about it, you've come to the right place for help.

SergeantB

Hey there.
I just posted my first SOA today as well as I must say it looks like we are in very familiar situations.

I suggest the same plan as myself and that's to get rid of the payday loans first.
My plan is to cut back on EVERYTHING for the next few months. No going out no buying anything that is not 100% essential.

Been_a_Crazy_Fool

Yes, her and my dad are awesome! Yes I am living at home right now.

Sure they would let me do that, I will suggest that to CCCS tomorrow! Thanks!

Been_a_Crazy_Fool

SergeantB wrote: »

Hey there.
I just posted my first SOA today as well as I must say it looks like we are in very familiar situations.

I suggest the same plan as myself and that's to get rid of the payday loans first.
My plan is to cut back on EVERYTHING for the next few months. No going out no buying anything that is not 100% essential.

It is a nightmare isn't it, i have dedicated this weekend to sorting this out and getting EVERYTHING in order and you know what I feel better than I have in years...actually got a good sleep last night, the hardest part is to come I know but I feel this is the right direction! The very best of luck with your situation, hope to hear about how you have crushed this!

SergeantB

Would it be weird if I said lets be debt buddies?

This is going to come out wrong but it's good to know there are other people out there that are feeling the same.

DebtClearer

I am in a strangely similar situation.

Relationship break ups can really push you to a dark place. Right now you need to come out finding. What is your overall credit history like? Can you try and get your debt at 0% interest?

Make sure you stick to a plan however you decide to move forward. Make your salary come in to one account and rigidly stick to how you split it up, and anything thats left goes straight to your debt. Cut up any credit cards you own and don't spend out of your overdrafts.

Heffi1

Actually knowing the full amount of debt is somehow better than guessing how bad it might be, at least you have the figures for CCCS in the morning, they will go over the lot with you and find a solution that you are able to live with, as well as leaving you a little for yourself, it is so good to hear you are facing things. Mums really are wonderful aren't they and as you have found out, a great support network for you.

A little bunch of flowers once you know where you stand would do wonders to let her know how grateful you are. (I am sure she knows anyway) keep in touch and let us know how you get on.

Been_a_Crazy_Fool

DebtClearer wrote: »

I am in a strangely similar situation.

Relationship break ups can really push you to a dark place. Right now you need to come out finding. What is your overall credit history like? Can you try and get your debt at 0% interest?

Make sure you stick to a plan however you decide to move forward. Make your salary come in to one account and rigidly stick to how you split it up, and anything thats left goes straight to your debt. Cut up any credit cards you own and don't spend out of your overdrafts.

You have reminded me...another thing i have been terrified of is looking up my credit history with experian, right now I don't know why I was so terrified, I still am a little to be honest. I assume it is the worst credit report in history, one that instead of having details on it just delivers someone round to your house to say "WHAT THE F&*^%?!?!!" I will go check this now. Cant imagine I can get any credit at the point...can see where you are coming from, better do that than default and go through all the pain...although either way, it is getting sorted from now.

Also yes I will do those things, I am actually really looking forward to cutting up my two credit cards...want to savor it! sound sad

oh, one thing, can I ask you what LBM means?

Been_a_Crazy_Fool

Heffi1 wrote: »

Actually knowing the full amount of debt is somehow better than guessing how bad it might be, at least you have the figures for CCCS in the morning, they will go over the lot with you and find a solution that you are able to live with, as well as leaving you a little for yourself, it is so good to hear you are facing things. Mums really are wonderful aren't they and as you have found out, a great support network for you.

A little bunch of flowers once you know where you stand would do wonders to let her know how grateful you are. (I am sure she knows anyway) keep in touch and let us know how you get on.

I am lucky, thanks for the comments.

Been_a_Crazy_Fool

SergeantB wrote: »

Would it be weird if I said lets be debt buddies?

This is going to come out wrong but it's good to know there are other people out there that are feeling the same.

Ha we sure can!

Totally...you know I think this is the best forum I have ever seen, I actually ended up at a video of Martin going over what to do if you find yourself in debt problems, it has potentially saved me from more anxiety!