Reeling from the Reality Check

Historybuff

Thanks for the helpful comments! I've got the forms today to put in to make the joint accounts sole accounts. I'm going to try to get that done. It does say on the form that it can be done if the overdraft is within it's agreed limit, which it is...just! Fingers crossed it goes through then I won't be worrying.
SS, I'm going to take a leaf out of your book and approach the credit card companies myself first as if I can do my own DMP it would be better.
LG I've already claimed PPI and that's gone too:( paid off some bills then spent it again. I've really learned my lesson now.
I'll look at doing an SOA and will certainly check out quid co...thanks for the tip.
Night all. X

Historybuff

Joint to sole bank account forms signed to be taken to the branch tomorrow. Fingers crossed that will work. Have also got a letter to post to see if we can claim for a mis sold endowment policy. Might leave that one for a week or so as it's with the same lender as the bank accounts
Had a look on the CAB website to see how their self DMP system worked. Surprised that the offers to the creditors came to way more than with SC. So undecided still. I think how I proceed all hinges on whether the bank will change our accounts from joint to sole. Will just have to see how that goes I think. New bank account open and poised for when action ready to be taken. I'll print out the SC stuff so that's ready when I am. Think that's the best thing.
My mindset is very focused. For the first time in many years I'm not avoiding looking at the bank balance or ignoring letters and hiding them. It's hard to face up to things, but now done the mountain will be climbed. I so regret the waste, but have to look forward with optimism. It WILL be ok.

DawnW

Couldn't read and run. Please take care, and don't let your OH, or other family members, lay a guilt trip on you, as it looks to me as though it was all spent trying to help them to achieve what they wanted.

Time to stop that now though - you can't go through life supporting 4 other adults. Time for a little giving back I think, and looking out for your own health and future.

Good luck xx

Historybuff

Thanks DawnW,
You are absolutely right...I've got to start saying no and look to my own situation. Now I'm focused I can do it.

RainbowBridgeReturns

Hi Historybuff, well done for sticking with things, after the initial flush of enthusiasm.

It is helping me to realise that my resolve comes in waves and that I have a three month plan, to begin with, so even if the odd week ... goes a bit awry, it is amazing how over the course of a month things can be brought back in line if I just keep going.

Keep on keeping on x.

in_need_of_direction

How's the office project coming along? I always find I can deal with things more easily if I have a reasonably clear desk space.

Historybuff

Hi,
I'm still in the throes of moving loads of stuff and finding places to put it. I've put a good few items up for sale on ebay and am just waiting to see if it has sold. Once the room is relatively clear today it's getting a major spring clean then I can paint it. That will be therapeutic, hopefully.
Today's plans are...deliver joint to sole letters to bank, check account, take bags of old clothes to charity shop, take dad to lunchtime 'music while you eat' concert, clean 'office'...
Will let you know later how I got on.
Thanks for asking...

Historybuff

It was a good move going to the lunchtime concert...string quartet in the minster.Really inspiring and even better that the lunch was free! Took me out of myself for a while.
Letters delivered to bank, so now to get back to the cleaning of the office. I'm holding fire on doing anything re finances till Friday...payday.
For the first time in many years I've managed to live for two weeks on ��£27.50. It's a long time since I went round the supermarket checking prices adding up the bill as I went along and only buying food for the day. Hasn't done me any harm, just made me think I need to be more careful with the spending on food. Anyway onwards and upwards...

Historybuff

{\rtf1\ansi\ansicpg1252
{\fonttbl\f0\fswiss\fcharset0 Helvetica;}
{\colortbl;\red255\green255\blue255;\red0\green0\blue0;\red255\green255\blue255;}
\deftab720
\pard\pardeftab720\partightenfactor0

\f0\fs22 \cf2 \cb3 \expnd0\expndtw0\kerning0
\outl0\strokewidth0 \strokec2 Statement of Affairs and Personal Balance Sheet\
\
Household Information\
Number of adults in household........... 2\
Number of children in household......... 0\
Number of cars owned.................... 2\
\
Monthly Income Details\
Monthly income after tax................ 3053\
Partners monthly income after tax....... 0\
Benefits................................ 0\
Other income............................ 0\
Total monthly income.................... 3053\
\
Monthly Expense Details\
Mortgage................................ 1126\
Secured/HP loan repayments.............. 0\
Rent.................................... 0\
Management charge (leasehold property).. 0\
Council tax............................. 153\
Electricity............................. 55\
Gas..................................... 56\
Oil..................................... 0\
Water rates............................. 31\
Telephone (land line)................... 21\
Mobile phone............................ 11\
TV Licence.............................. 16\
Satellite/Cable TV...................... 21\
Internet Services....................... 0\
Groceries etc. ......................... 280\
Clothing................................ 50\
Petrol/diesel........................... 250\
Road tax................................ 15\
Car Insurance........................... 36\
Car maintenance (including MOT)......... 30\
Car parking............................. 0\
Other travel............................ 0\
Childcare/nursery....................... 0\
Other child related expenses............ 0\
Medical (prescriptions, dentist etc).... 14\
Pet insurance/vet bills................. 42\
Buildings insurance..................... 10\
Contents insurance...................... 10\
Life assurance ......................... 37\
Other insurance......................... 0\
Presents (birthday, christmas etc)...... 30\
Haircuts................................ 20\
Entertainment........................... 100\
Holiday................................. 100\
Emergency fund.......................... 100\
Total monthly expenses.................. 2614\
\
\
Assets\
Cash.................................... 0\
House value (Gross)..................... 199000\
Shares and bonds........................ 0\
Car(s).................................. 1500\
Other assets............................ 0\
Total Assets............................ 200500\
\
\
Secured & HP Debts\
Description....................Debt......Monthly...APR\
Mortgage...................... 84818....(1126).....5.18\
Total secured & HP debts...... 84818.....-.........- \
\
Unsecured Debts\
Description....................Debt......Monthly...APR\
Barclaycard....................11024.....300.......18.9\
Capital One....................5918......177.......17.9\
M and S........................6000......188.......16.9\
Nationwide overdraft...........7700......200.......18.9\
Tesco loan.....................11500.....226.......6.4\
Tesco..........................4000......95........18.9\
Nationwide.....................9129......240.......15.9\
Total unsecured debts..........55271.....1426......- \
\
\
Monthly Budget Summary\
Total monthly income.................... 3,053\
Expenses (including HP & secured debts). 2,614\
Available for debt repayments........... 439\
Monthly UNsecured debt repayments....... 1,426\
Amount short for making debt repayments. -987\
\
Personal Balance Sheet Summary\
Total assets (things you own)........... 200,500\
Total HP & Secured debt................. -84,818\
Total Unsecured debt.................... -55,271\
Net Assets.............................. 60,411\
\
Created using the SOA calculator at https://www.stoozing.com. \
Reproduced on Moneysavingexpert with permission, using other browser.}

Ok. So bit the bullet and completed the SOA. Any advice or comments would be appreciated. Thank you.

mfmaybe

Well I am a long way from being an expert but I've had a little bash! Mostly with questions rather than answers, sorry.

Historybuff wrote: »

{\rtf1\ansi\ansicpg1252
{\fonttbl\f0\fswiss\fcharset0 Helvetica;}
{\colortbl;\red255\green255\blue255;\red0\green0\blue0;\red255\green255\blue255;}
\deftab720
\pard\pardeftab720\partightenfactor0

\f0\fs22 \cf2 \cb3 \expnd0\expndtw0\kerning0
\outl0\strokewidth0 \strokec2 Statement of Affairs and Personal Balance Sheet\
\
Household Information\
Number of adults in household........... 2\
Number of children in household......... 0\
Number of cars owned.................... 2\
\
Monthly Income Details\
Monthly income after tax................ 3053\ Is this just you, or your OH too?
Partners monthly income after tax....... 0\
Benefits................................ 0\
Other income............................ 0\
Total monthly income.................... 3053\
\
Monthly Expense Details\
Mortgage................................ 1126\ Is this the full charge or 50%
Secured/HP loan repayments.............. 0\
Rent.................................... 0\
Management charge (leasehold property).. 0\
Council tax............................. 153\ 10 months or 12?
Electricity............................. 55\
Gas..................................... 56\
Oil..................................... 0\
Water rates............................. 31\
Telephone (land line)................... 21\ Could probably beat this
Mobile phone............................ 11\
TV Licence.............................. 16\
Satellite/Cable TV...................... 21\ Needed?
Internet Services....................... 0\
Groceries etc. ......................... 280\ I think this is ok, but suspect the regulars would challenge this significantly
Clothing................................ 50\ Every month?
Petrol/diesel........................... 250\ This seems high, is it for two?
Road tax................................ 15\
Car Insurance........................... 36\
Car maintenance (including MOT)......... 30\
Car parking............................. 0\
Other travel............................ 0\
Childcare/nursery....................... 0\
Other child related expenses............ 0\
Medical (prescriptions, dentist etc).... 14\
Pet insurance/vet bills................. 42\ What pets does this cover? Mine is £17 for two cats
Buildings insurance..................... 10\ Seems very low?
Contents insurance...................... 10\
Life assurance ......................... 37\ IS this not included in your mortgage?
Other insurance......................... 0\
Presents (birthday, christmas etc)...... 30\
Haircuts................................ 20\
Entertainment........................... 100\ Every month?
Holiday................................. 100\ Self explanatory I suspect!
Emergency fund.......................... 100\
Total monthly expenses.................. 2614\
\
\
Assets\
Cash.................................... 0\
House value (Gross)..................... 199000\
Shares and bonds........................ 0\
Car(s).................................. 1500\
Other assets............................ 0\
Total Assets............................ 200500\
\
\
Secured & HP Debts\
Description....................Debt......Monthly...APR\
Mortgage...................... 84818....(1126).....5.18\ This is a high rate
Total secured & HP debts...... 84818.....-.........- \
\
Unsecured Debts\
Description....................Debt......Monthly...APR\
Barclaycard....................11024.....300.......18.9\
Capital One....................5918......177.......17.9\
M and S........................6000......188.......16.9\
Nationwide overdraft...........7700......200.......18.9\
Tesco loan.....................11500.....226.......6.4\
Tesco..........................4000......95........18.9\
Nationwide.....................9129......240.......15.9\
Total unsecured debts..........55271.....1426......- \
\
\
Monthly Budget Summary\
Total monthly income.................... 3,053\
Expenses (including HP & secured debts). 2,614\
Available for debt repayments........... 439\
Monthly UNsecured debt repayments....... 1,426\
Amount short for making debt repayments. -987\
\
Personal Balance Sheet Summary\
Total assets (things you own)........... 200,500\
Total HP & Secured debt................. -84,818\
Total Unsecured debt.................... -55,271\
Net Assets.............................. 60,411\
\
Created using the SOA calculator at https://www.stoozing.com. \
Reproduced on Moneysavingexpert with permission, using other browser.}

Ok. So bit the bullet and completed the SOA. Any advice or comments would be appreciated. Thank you.