Introducing me.

user55

Well, here I am, facing up to my problem and realising the true horror.

I have filled in my MSE spreadsheet, and once I did that and realised that *before food* and with no budget for fun and spontaneity, I am spending £500 a month more than I earn. I have been making all the minimum repayments, but then living on credit cards, and time is fast running out.

I have contacted the CCCS and have a telephone appointment with them at the end of next week, giving me time to acrue all the actual balances I owe. I'm estimating something in the region of £40k. I don't own my home, and my rented home is furnished cheap and cheerful stylee. The only 2 things I'd be gutted to have taken off me are my lappy (without which I wouldn't know which way to turn!) and my tent (without which I couldn't afford any kind of holidays for me and my little girl). So I've come here because I feel, based on what I've read, that bankrupcy is in my near future.

There. I've said it.

I'm just going for a little cry now.

NekoZombie

Aww, hugs! It really isn't that bad. A quick suggestion - maybe post your income and expenditure so we can have a look and maybe make suggestions? Is that overspending because you're servicing a lot of debt, or are you just over spending anyway?

user55

I'm servicing a lot of debt. I've been bailing my hubby and his business out for ages, and to no avail cos the business is going nowhere and he has his own raft of creditors (including Inland Revenue) to do battle with now. I can't bail him out any more!

I'll type it all out in a bit. There are little bits and pieces that could be cut, but they really are drops in the ocean!

Bakeybadoo

Hello and welcome to our forum!

You've made the first step by admitting that you can't go on like this and then seeking professional advice.

Don't worry about your laptop and tent, neither will be taken from you. The only things that the Official Receiver (if you go BR) would be interested in would be things like cars, houses, antiques etc.

user55

OK here's my statement of affairs.

Incomings:
Salary £1200 - £1600 per month depending on shift work (they have however just changed the way they pay us so the variable element will be less marked. I don't yet know how that will average out!

Child Benefit £72.40

Outgoings:

Rent £575
Council Tax £115
Gas £48
Electric £60
Water £22
Mobile phone £17.50 (tied in but it's a good value package anyway to be honest)
Virgin phone/ TV/ internet £52 (still tied in - will check dates!)
TV licence £11.37
Dental insurance (for whole family) £33.64
Clothes (for whole family!) £46
Childcare £67 (averaged out - it's the holiday club which enables me to work)
Food £325
Road tax £9.58
Insurance £18
Petrol £40
Car Maintainance £10 (guessed!)
AA £5
School dinners £38
School trips £4 (not had a full year yet - this seems close though)
Childs activities (dance, rainbows) £17.50

That lot adds up to £1514.59.

The Debts!
Car loan £137.84
Consolidation loans £338 :rolleyes:
Credit cards £220 (minimum payments)
Store card £15 (minimum payment)

I also have in my name the car my husband uses for his business - my credit rating was better so I got the loan. He pays that though.
He has no income to speak of once he has paid his overheads and his own creditors (inland revenue being one of them - we don't wanna !!!! them off!) He therefore pays nothing to any of the above bills, but buys food when he has any spare cash.

I've not put anything down for Xmas, birthdays, haircuts, holidays, nights out, any kind of fun really, just dd's activities.

Bakeybadoo

I don't think she's after money saving advice. Could be wrong though.

I just think it's a bit rude (just my opinion here) to come onto the BR board and offer people ways to cut their spending down, £40k in debt, I don't think shaving a little here and there will make much odds to her final decision.

I think she was asking us to look to see if any other way but BR was possible.

Bakeybadoo

I understand you were only trying to help and it's not my place to speak for the OP, I wasn't trying to do that, I just felt when she'd already said that BR is in her near future, she was just trying to get advice with regards to her SoA and BR.

user55

I'm not offended. However I am tied in to the contract with Vodafone for some time yet, ditto Virgin. And the mobile, to be honest, is used for all my phonecalls, so we never ever use the landline, hence I reckon it's fair value. I know it's non essential, but I'd get rid of the land line before the mobile I think.

We really can't cut our gas usage anmore - it's literally hot water and gas hob. No central heating. Sadly that's why the leccy is so high - no central heating. Electric heating comes at a price. But at least we don't need it on anymore for a few months!

Could we find anywhere cheaper? Maybe £50 a month or so, but then we'd have to find the cost of moving which is somewhat out of the question right now. We are paying a fair price for our house, considering the area we live in.

Clothes. We do make do. But it's a bit more difficult for our child to make do cos she keeps growing. £46 is actually the figure suggested by the CCCS website, I wasn't able to come up with one on my own.

Dental insurance. Yes, we could cancel it. And then we would never be able to afford to go to the dentist again. Would that be a wise saving? Maybe it would, I don't know! I think 1 episode of toothache would answer the question though...

Store card - pay it off with what? And if I did, then isn't that frowned on by the OR if we end up down that road? Showing preference to 1 creditor over another?

I'm not looking for obstacles to helping myself here, I'm genuinely scared.

Mike_St_Helens

albertross wrote: »

Rent £575 can you get anywhere cheaper?
Food £325 looks excessive, should be able to cut down by buying carefully, and cooking family meals, no takeaways etc.

Gas £48 cut down
Electric £60 turn stuff off
Water, if on a meter, brick in toilet, use it sparingly
Dental insurance (for whole family) £33.64 essential?
AA £5 ditch it.
Mobile phone £17.50 not needed to live, however useful
Virgin phone/ TV/ internet £52 ditto and an expensive package
Clothes (for whole family!) £46 - still a fair amount, make do?

Store card £15 pay it off and get rid of it. the apr's are horrendous.

What are the apr's and details of the debts?

Dear god.. Do you want this person to live off corned beef hot pot for the rest of their lives and not leave the house.

Rent Thats cheap. Unless you want to live in Baghdad
Gas - reasonable - but the elec is a little high, but if there are 3 of you. so be it.
Water - dont wash:o !
AA - dont ditch.... you wont be saying that when you break down on your own in the middle of nowhere and need help. £5 is cheap !
Mobile - some live with some without. £17.50 is cheap.
£46 for clothes for a whole family. Thats really good.

I wish people would stop jumping on peoples backs just for having reasonable living expenses. Even the Official Reciever allows you a treat now and again. Could you imagine how gray life would be by stopping everything.

You must be realistic in these things, I hate it when people get shot to pieces for spending 38p on gas for 6 months. christ.

rant over. sorry.

Mike_St_Helens

user55 wrote: »

I'm not offended. However I am tied in to the contract with Vodafone for some time yet, ditto Virgin. And the mobile, to be honest, is used for all my phonecalls, so we never ever use the landline, hence I reckon it's fair value. I know it's non essential, but I'd get rid of the land line before the mobile I think.

We really can't cut our gas usage anmore - it's literally hot water and gas hob. No central heating. Sadly that's why the leccy is so high - no central heating. Electric heating comes at a price. But at least we don't need it on anymore for a few months!

Could we find anywhere cheaper? Maybe £50 a month or so, but then we'd have to find the cost of moving which is somewhat out of the question right now. We are paying a fair price for our house, considering the area we live in.

Clothes. We do make do. But it's a bit more difficult for our child to make do cos she keeps growing. £46 is actually the figure suggested by the CCCS website, I wasn't able to come up with one on my own.

Dental insurance. Yes, we could cancel it. And then we would never be able to afford to go to the dentist again. Would that be a wise saving? Maybe it would, I don't know! I think 1 episode of toothache would answer the question though...

Store card - pay it off with what? And if I did, then isn't that frowned on by the OR if we end up down that road? Showing preference to 1 creditor over another?

I'm not looking for obstacles to helping myself here, I'm genuinely scared.

User55. You dont need to explein yourself at all. You just need the support and advice. Not telling what to do.

You make all the decisions yourself and what ever they are we will be here to support them.

I think you know what you are talking about, and are pretty clued up.

Some people here will try to shoot you down and discourage you from your own decisions. You will soon learn that people who have 3 trillian posts dont always give the best advice. The ones that you se daily and tirelessly giving advice, they are the people to listen to. But take nothing to heart on what they say, Just listen, then make your own mind up.

Mikey

fermi

Mike_St_Helens wrote: »

Dear god.. Do you want this person to live off corned beef hot pot for the rest of their lives and not leave the house.

Rent Thats cheap. Unless you want to live in Baghdad
Gas - reasonable - but the elec is a little high, but if there are 3 of you. so be it.
Water - dont wash:o !
AA - dont ditch.... you wont be saying that when you break down on your own in the middle of nowhere and need help. £5 is cheap !
Mobile - some live with some without. £17.50 is cheap.
£46 for clothes for a whole family. Thats really good.

I wish people would stop jumping on peoples backs just for having reasonable living expenses. Even the Official Reciever allows you a treat now and again. Could you imagine how gray life would be by stopping everything.

You must be realistic in these things, I hate it when people get shot to pieces for spending 38p on gas for 6 months. christ.

rant over. sorry.

Thanks Mike

I was trying to phrase it all without going off on one, but was stuggling.

EDIT:

Ditto for the post I missed while I was writing this