Pay ALL your debt off by Xmas 2013

SpagBol

I am in rant mode, watch out :mad:

The reason why we are in this financial pickle is that DH was made redundant and for a few years was working freelance for mad people for peanuts, despite me saying he shouldn't bother. He was earning but we were paying A LOT in childcare, petrol, travel etc. and it wasn't worth it and the kids were in full time childcare. We went through a REALLY bad time which culminated in me threatening to leave when I discovered he was using his CC to withdraw money to pay for his CC :mad::mad: (Don't ask :mad:) and the nursery fees. So basically our debt grew exponentially without me realising (here I take responsibility for taking my eye off the ball, but I din't realise he would be doing this!!:eek:) and I was begging him to be a stay at home dad which would have been the same to our net income but better for the kids but he was being a stubborn !!!! for over a year. He realised I was serious when I said I was at my limit and got a proper job but for a while it looked like we weren't going to get out of our rut.

Anyway so last year we got good jobs and made our peace and got on with the challenge and things are good between us...and now today he has shown me his effing TAX BILL :mad::mad::mad::mad: which is only just over £1k but since all money is accounted for in this challenge and it is tax on money we never saw anyway due to nursery fees and he HASN'T SAVED UP FOR HIS TAX and it's my fault for not realising he would have tax to pay and...


:mad::mad::mad:

And relax...

AND I CAN'T EVEN DRINK WINE!!!!!!!

And breathe...

amr547

SpagBol wrote: »

I am in rant mode, watch out :mad:

The reason why we are in this financial pickle is that DH was made redundant and for a few years was working freelance for mad people for peanuts, despite me saying he shouldn't bother. He was earning but we were paying A LOT in childcare, petrol, travel etc. and it wasn't worth it and the kids were in full time childcare. We went through a REALLY bad time which culminated in me threatening to leave when I discovered he was using his CC to withdraw money to pay for his CC :mad::mad: (Don't ask :mad:) and the nursery fees. So basically our debt grew exponentially without me realising (here I take responsibility for taking my eye off the ball, but I din't realise he would be doing this!!:eek:) and I was begging him to be a stay at home dad which would have been the same to our net income but better for the kids but he was being a stubborn !!!! for over a year. He realised I was serious when I said I was at my limit and got a proper job but for a while it looked like we weren't going to get out of our rut.

Anyway so last year we got good jobs and made our peace and got on with the challenge and things are good between us...and now today he has shown me his effing TAX BILL :mad::mad::mad::mad: which is only just over £1k but since all money is accounted for in this challenge and it is tax on money we never saw anyway due to nursery fees and he HASN'T SAVED UP FOR HIS TAX and it's my fault for not realising he would have tax to pay and...


:mad::mad::mad:

And relax...

AND I CAN'T EVEN DRINK WINE!!!!!!!

And breathe...

doh!!!! will they be taking it off his monthly salary or does he have to pay upfront? OH is currently trying to get his P11 to prove to HMRC he didn't claim £4k in JSA :eek: and therefore doesn't owe them £600 in underpaid tax!

pogie2

Only £1,687 but difficult not to get worse would love to join this thread if you'll have me. Whoops forgot overdraft make it £2k

InsertWittyName

amr547 wrote: »

doh!!!! will they be taking it off his monthly salary or does he have to pay upfront?

It's possible for the amount - assuming the return was filed online before 31st December.

If it makes you feel any better SpagBol I paid out £3,117.90 last night in tax for the freelance earnings I made on top of my day job while trying to clear my debts :mad:

SpagBol

amr547 wrote: »

doh!!!! will they be taking it off his monthly salary or does he have to pay upfront? OH is currently trying to get his P11 to prove to HMRC he didn't claim £4k in JSA :eek: and therefore doesn't owe them £600 in underpaid tax!

Oh yes I remember that, what happened in the end? With the P11 will it all be ok? Did they say it was identity fraud?

DH was freelance so self employed and they want the whole amount by the end of Jan :mad: (not :mad: at HMRC, :mad: at DH)

SpagBol

PrincessLou wrote: »

I'm finally ready to join this challenge. I've just added up my figures and it looks like this:

£1158.99 Overdraft + £1292.09 CC + £55.06 CC no.2

So total to clear is £2506.04 :eek:

I reached my lightbulb moment just a couple of weeks before Christmas. My husbands Audi A3 needed an expensive repair and we spent a week worrying about how we were going to pay for it as our trusty local garage only accepts cash/cheque and we were about £100 from our overdraft limit with no easy access savings, only long term savings that are locked away until 2014. I literally felt sick to my stomach. I'm currently pregnant with twins and just had had enough...my husband has a good salary, yet ever since i've known him, for the past 10 years i don't think he's ever stepped out of his overdraft for more than a week. Psychologically i don't think we ever think of being in the overdraft as being in debt but now i am determined to clear it so we can use that as emergency money if we ever need it again.

Enough is enough and now we are married and with two babies on the way we are determined to get ourselves sorted. I just want a simple life and am sick of worrying about money. I know it's probably a small amount compared to most people but to me it seems like a mountain and i am huge worrier.

Hi princesslou, welcome and congratulations on the twins! You are #130, I will update the front page tomorrow!

amr547

SpagBol wrote: »

Oh yes I remember that, what happened in the end? With the P11 will it all be ok? Did they say it was identity fraud?

DH was freelance so self employed and they want the whole amount by the end of Jan :mad: (not :mad: at HMRC, :mad: at DH)

They said to send them his pwhateveritisyougetattheendofthetaxyear and p11 and they'll sort it out so fingers crossed! If they reckon he's been paid £4k in JSA and that's taken him above the taxfree threshold then I think he should be due some back :mad:

SpagBol

InsertWittyName wrote: »

It's possible for the amount - assuming the return was filed online before 31st December.

If it makes you feel any better SpagBol I paid out £3,117.90 last night in tax for the freelance earnings I made on top of my day job while trying to clear my debts :mad:

Oh isn't it a bummer? Such a crap time of year for it too.

pogie2 wrote: »

Only £1,687 but difficult not to get worse would love to join this thread if you'll have me. Whoops forgot overdraft make it £2k

Hi and welcome pogie2, you are #131 I will update the front page tomorrow.

suzitiger

rogueylawyer wrote: »

I am a complete and utter moron. I've messed up my repayments, which resulted in me going over my overdraft limit, with the fee of £22.

Someone give me a wall, I need to bash my head in to it!

here you go...:wall: But I hope this will make you smile and not continue to beat yourself up about it.

amr547 wrote: »

I've got a big chunk of stilton cheese to use up - anyone got any ideas how I can use it??

Ooooh me too, maybe I will make some soup with it?

Congrats to minicooper for becoming DEBT freeeeeeeeee! :j I did read your post but it was in my emails so I had missed saying congrats :T

((((Hugs))) to Spagbol I hope you get it all sorted out xxx

SpagBol

suzitiger wrote: »

((((Hugs))) to Spagbol I hope you get it all sorted out xxx

Ah thanks suzitiger, nothing to sort out really just needed to vent I suppose I should be thankful that it has riled me so much, obviously I've been a lot happier lately and this reminds me how awful things were

Still :mad: with him though!!