Please help me, my debt is destroying my life :'(

kittiej

I agree with everything everyone else has said. You could also try CAP or National Debtline as well.

There is a CAB board on MSE if you want to ask q's on there and the insolvency service has info about bankruptcy.

Sending you the very best of wishes because you and yours really deserve it.

PS

I don't know if copying your SOA and sending it to someone by PM so they can post it for you would be possible. PM me it if you want to try.

whichwhydoIturn

Bless you TaylorclanThis site has lots and lots of real people tat have experienced similar stress to what you are currently going through
I have found them invaluable of late whilst saving for BR.
As far as food is concerned there's a meal planning forum and always loads of handy tips
Some one loads more confident than me will be able to give you some advice that may bring you some peace.
I have depression and anxiety , I also have a lovely GP who has been great last few months so chin-up , today is a day nearer peace of mind and family

FatVonD

Google for your nearest food bank, it will help you stretch the money you have available a little further.

Are you already a Milk and More customer? I think they still give you the first £10 free for new customers which will help a little too.

kittiej

Taylorclan's SOA

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1288
Benefits................................ 1018
Other income............................ 0
Total monthly income.................... 2306
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 320
Rent.................................... 725
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 60
Gas..................................... 70
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 30
Mobile phone............................ 47
TV Licence.............................. 12
Satellite/Cable TV...................... 15
Internet Services....................... 15
Groceries etc. ......................... 485
Clothing................................ 35
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 35
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2074

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

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 0........(320)......0
Total secured & HP debts...... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
council tax....................1000......150.......0
water..........................280.......0........ .0
gas/electric...................590.......0.........0
everything else................19000.....0.........0
secured loan on repos..........47000.....40........0
Total unsecured debts..........67870.....190.......-

Monthly Budget Summary
Total monthly income.................... 2,306
Expenses (including HP & secured debts). 2,074
Available for debt repayments........... 232
Monthly UNsecured debt repayments....... 190
Amount left after debt repayments....... 42
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -67,870
Net Assets.............................. -67,870
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using IE
browser.

There you are

WantToBeSE

You are definitely in the right place for help and advice, stick around and you will find the wonderful people to be amazingly supportive.

i don't have any expert advice, i just wanted to give you a big hug ((((HUGS)))) as you sound at the end of your tether.

I know it doesn't feel like it yet, but there IS light at the end of the tunnel, and you CAN deal with this.

kittiej

What are the loan/HP repayments for? - there's no mention of a car so wondered about this.

You could trim loads off your grocery amount. You need to keep a spending diary and do meal plans

thetaylorclan

unfortunately the hp payments are for household items from brighthouse. Since the repossession we have been unable to obtain credit pretty much anywhere and have used them
(not good I know)

kittiej

I see. Don't worry about that, how long have you got to go with the HP?

thetaylorclan

a couple of years in some of the cases

Cynical_Monkey

Hi,

It sounds like you're having a really hard time but you've taken the most important step already - admitting you need help.

The SOA looks OK to me but there are definitely savings to be made...

Phone/Broadband/TV currently costs £60 per month - Have a read here, then click here and you'll realise that you can more than half that cost and retain the same services - In some cases, it'll cost you almost a quarter of what you currently pay!

Gas & Electric at £130 per month is steep - We pay around £80 per month on a duel fuel tariff and switch regularly (Every 9 months or thereabouts) - There's some good information here that may help you. When you find a better deal, look on some comparison sites snd when you sign up with a new company, do it through Quidco or Topcashback and get some cash back (Topcashback is the better option as they don't take a £5 admin fee).

Your groceries of £485 per month are quite big compared to mine - We pay an average of £400 per month for a family of 6 including the cost of all of the packed lunch stuff the 4 kids need for school.

With all of that said, these cuts aren't going to make the debt go away so although they may provide some good ideas going forward, they won't get you out of this situation on their own.

The first thing you NEED to do is contact all of the following;

National Debtline
Website: National Debtline
Telephone: 0808 808 4000

Citizens Advice Bureau
Website: Citizens Advice
find nearest CAB centre

StepChange (formerly CCCS)
Website: StepChange
Telephone: 0800 138 1111

None of these places charge, they won't judge you and they will offer impartial advice. Most of all though, they'll offer support.

As mentioned, there are charities that can help with the bankruptcy fees - You can find a list of the better known ones, and a lot of advice here

When it comes the the actual bankruptcy, this thread is well worth a read!

Whatever happens, you're not alone - I know it may feel like you are and it may feel like there's no way out but when all is said and done, it's only money - So many things are far more important in life. Chin up, there's light at the end of the tunnel.