Would love to be debt free but budget is a nightmare

worried48

The house belongs to my father. I am the only child and it is willed to me, in the meantime I have permission to live in it as if it were my own. But it isn't actually mine.

John1993_2

Can I ask what you've posted the SOA for? You've suggested previously that you don't want advice, has that now changed?

You've also made a point of poo-poohing every suggestion that people have made. Are you ready to take advice on board, or do you just want to keep responding as you have previously?

People won't be interested in offering suggestions if you are not looking for them, or won't act on them.

worried48

For my own sake, really, John. If I know I posted it on here then all I have to do is find this thread. I don't feel any particular need for anyone to comment on it. It's just easier to have it here than to keep doing it again all the time or trying to remember where it was or where I saved it. That's all.

bargainbetty

If your husband is now retired and is on limited income you may wish to consider approaching his creditors (the personal cards) with a power of attorney notice and a request for reduced payments/DMP for him with frozen interest, due to medical hardship.

It might at least allow you to actively clear the debt rather than just about paying off the interest each month - it would allow you to reduce the total sums.

bargainbetty

worried48 wrote: »

Unsecured Debts
Description....................Debt......Monthly...APR

Marisota.......................80........5.........59
Luma...........................200.......15........39
Oxendales......................900.......50........59
Barclaycard....................1600......30........29
Aqua...........................1550......55........39
Capital One....................1000......35........39
Vanquis........................3000......140.......49
Total unsecured debts..........28930.....920.......-

If you can freeze his debts, and genuinely have that level of available income left over, perhaps you may wish to consider clearing the smaller/higher interest debts you have. Marisota and Luma could be wiped this month. If Luma is a credit card, ask them about low balance transfer rates, and see if you can empty one of the others onto it at a better rate. Capital One and Barclaycard often offer balance transfers (or can be asked) so you could also think about focusing on them to be able to empty the higher rate cards. Heck, ask them now if you have available balance on them.

John1993_2

worried48 wrote: »

For my own sake, really, John. If I know I posted it on here then all I have to do is find this thread. I don't feel any particular need for anyone to comment on it. It's just easier to have it here than to keep doing it again all the time or trying to remember where it was or where I saved it. That's all.

In my day, we used to use paper for that sort of thing. If you don't want advice, then using this place instead of a notebook is a terrible idea.

worried48

Ah but John, pieces of paper disappear in this house - there is a huge black hole where they go to along with dozens (quite literally) of pairs of husband's socks and a similar number of pairs of my own knickers. Don't ask ....

Betty - yes we can pay these debts off. I reckon we can do it in two years. No, all the cards are maxed out at the moment. The business we are in always drops hugely over the summer and then picks up dramatically in the Autumn. It would be nice if next year we could get through the summer without living on the cards again. Husband was unemployed for some years before we married and the business we run, though in his name, is actually dependent on my expertise, not his (I could, and have, run it on my own) so that in fact we are about to be a lot better off now that he has his pension, not worse off.

John1993_2

worried48 wrote: »

Ah but John, pieces of paper disappear in this house -

What a surprise, someone gives advice, and you bat it away with yet another ridiculous excuse.

Sorry to be harsh, but if you are not actually a troll, you are indistinguishable from one. I've no interest in trying to help you, so will leave you to your terrible decisions.

Ciao.

FalseEconomist

Yes, I have to say something doesn't seem quite right about this thread.

theoretica

I wonder if you mightt get a better reception if you moved this thread over to the debt free diaries section?

I would comment on the cats - are they a business or hobby? Because I think it is a good idea to have separate budgets for businesses (as you do with your main one) and personal.