debt help please

Suseka

Hi there, sorry to hear that things seem so desperate for you, but don't give up. You've taken the first step by coming on this forum -now you need to listen to some of the advice given, put up an SOA if you can and consider the option to transfer some of the higher APR credit to your other cards.

Also - don't see a DMP as such a bad thing. We all approach this differently, but in my experience, once I'd got over the whole hugely embarrassed emotions and started to sort things out, my situation eventually become much more manageable. I'm in a dmp for a good 5 years and started out owing £80k (as you can see from my signature). It isn't easy, but its doable and you'll feel a lot better for it.

There may of course be other options for you -but you need to start addressing the situation as soon as possible.

girlsmum

desperado88 wrote: »

Sorry i have`nt posted in a few days...i have been trying to work out things unsuccessfully.
I seriously don`t know what to do now morgtage and a credit is due before i get paid tuesday and iam £200 short......i really don`t know what to do now.feel like just throwing in the towel.so fed up.

You are making yourself ill with worry.
You need to face these head on,. firstly you need to contact your mortgage lender and see if you can delay your payment until you get paid this month.

You also need to look into DMP it might not seem like it, but it will be a relief. Also if you are in such debt you will have to put on hold a new car and even moving until they are cleared.

thecassman86

girlsmum wrote: »

You are making yourself ill with worry.
You need to face these head on,. firstly you need to contact your mortgage lender and see if you can delay your payment until you get paid this month.

You also need to look into DMP it might not seem like it, but it will be a relief. Also if you are in such debt you will have to put on hold a new car and even moving until they are cleared.

I agree fully with both of these points OP. Contact your mortgage provider and ask them to delay payment until Tuesday when you get paid.

You really should look properly into a DMP. You're going to make yourself ill with worry and you don't want this stress month in month out. A DMP will be an immediate relief of all of these problems i promise you.

Chin up! You can sort this

desperado88

thanks for all your kind replies just did the soa thing and cant make head nor tail of it...actually thought i was going to throw up the morning when i checked my account,getting this way every month now,i feel as if i have let my son down and it is tearing me apart.
my wife just puts her head in the sand about the debt ,saying we can manage butshe is going through some personal problems herself with some health issues at the moment that we are waiting the results of.life just has a way of throwing these things all at once just wish i could be stronger.

girlsmum

If you copy and paste your SOA on here, people here will help you
please don't make yourself ill that will not help at all.

thecassman86

desperado88 wrote: »

thanks for all your kind replies just did the soa thing and cant make head nor tail of it...actually thought i was going to throw up the morning when i checked my account,getting this way every month now,i feel as if i have let my son down and it is tearing me apart.
my wife just puts her head in the sand about the debt ,saying we can manage butshe is going through some personal problems herself with some health issues at the moment that we are waiting the results of.life just has a way of throwing these things all at once just wish i could be stronger.

Firstly, you're not letting anybody down. We've all been in this position and we know how hard it is to stomach and to accept. You're not on your own. If you look back through the pages of threads on this forum you'll see tales of woe followed by tales of happiness from the same people some time later! You can and you will sort this out!

Right, SOA, if you fill out that form on the link then press "Calculate" at the bottom. After that press the "MSE" button. Copy the text and then paste it into a reply window here so we can see it

desperado88

thecassman86 wrote: »

Firstly, you're not letting anybody down. We've all been in this position and we know how hard it is to stomach and to accept. You're not on your own. If you look back through the pages of threads on this forum you'll see tales of woe followed by tales of happiness from the same people some time later! You can and you will sort this out!

Right, SOA, if you fill out that form on the link then press "Calculate" at the bottom. After that press the "MSE" button. Copy the text and then paste it into a reply window here so we can see it

thanks for that i did try,finding it hard to look at all my debt in detail incase it is higher than i thought also when i started putting in details it asks about % rates ...i don`t even know them ,all i know that three are low twenties and the rest are below.feel such a clown for getting in this mess.

Does anyone know if i join a dmp roughly when the creditors stop hounding you with phone calls the reason i ask is as my wife isnt feeling her best just now and with me at work i think it might be even more depremental to her health...this is one of the main reasons i have`nt went through with a dmp the way.also would they leave me some money from my wages to live i.e be able to take my son out for runs and things that is all i want just to make sure that they would leave me enough so he can enjoy his childhood.

thecassman86

desperado88 wrote: »

thanks for that i did try,finding it hard to look at all my debt in detail incase it is higher than i thought also when i started putting in details it asks about % rates ...i don`t even know them ,all i know that three are low twenties and the rest are below.feel such a clown for getting in this mess.

Does anyone know if i join a dmp roughly when the creditors stop hounding you with phone calls the reason i ask is as my wife isnt feeling her best just now and with me at work i think it might be even more depremental to her health...this is one of the main reasons i have`nt went through with a dmp the way.also would they leave me some money from my wages to live i.e be able to take my son out for runs and things that is all i want just to make sure that they would leave me enough so he can enjoy his childhood.

Looking at your debts is hard but it's vital at this stage i'm afraid. The SOA is something you'll be expected to fill out by Stepchange too so you'll need to look into it at some point. It's important that you know exactly what's coming in and out to be able to discuss repayment options with Stepchange.

If you don't know the exact APR's then just guess for now. It's more so we can look at roughly what advice we can give for you; the difference between 18% and 22% APR isn't massive at this stage.


Regarding your creditors, as soon as Stepchange take over your finances then the creditors should deal with them directly so any calls or contact you receive you should just tell them you're on a DMP with Stepchange and give them the reference number. It won't take long before they go straight to Stepchange rather than via you. Stepchange will contact them directly anyway so they'll be aware of it

desperado88

thecassman86 wrote: »

Looking at your debts is hard but it's vital at this stage i'm afraid. The SOA is something you'll be expected to fill out by Stepchange too so you'll need to look into it at some point. It's important that you know exactly what's coming in and out to be able to discuss repayment options with Stepchange.

If you don't know the exact APR's then just guess for now. It's more so we can look at roughly what advice we can give for you; the difference between 18% and 22% APR isn't massive at this stage.


Regarding your creditors, as soon as Stepchange take over your finances then the creditors should deal with them directly so any calls or contact you receive you should just tell them you're on a DMP with Stepchange and give them the reference number. It won't take long before they go straight to Stepchange rather than via you. Stepchange will contact them directly anyway so they'll be aware of it

thanks you i really appreciate you taking the time to help me.... i will fill it in.

desperado88

Hope i have done this right..... bit higher than i thought i forgot all about my wifes two accounts..

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1330
Partners monthly income after tax....... 0
Benefits................................ 910
Other income............................ 0
Total monthly income.................... 2240
Monthly Expense Details
Mortgage................................ 376
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 125
Electricity............................. 40
Gas..................................... 50
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 15
Mobile phone............................ 26
TV Licence.............................. 11
Satellite/Cable TV...................... 20
Internet Services....................... 25
Groceries etc. ......................... 320
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 20
Contents insurance...................... 0
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 15
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1213

Assets
Cash.................................... 0
House value (Gross)..................... 75000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 75000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 48300....(376)......3.9
Total secured & HP debts...... 48300.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
rbs cc.........................3760......91........19
nationwide cc..................2700......29........4.9
american express cc............990.......50........17
very...........................1000......50........21
next account...................1000......100.......21
opus cc........................500.......26........4.9
halifax cc.....................13800.....225.......19
mbna cc........................7300......173.......16.9
barclaycard cc.................2000......50........19
barclaycard cc.................3580......72........19
sainsburys cc..................699.......20........4.9
marks and spencer cc...........1480......38........17
Total unsecured debts..........38809.....924.......-

Monthly Budget Summary
Total monthly income.................... 2,240
Expenses (including HP & secured debts). 1,213
Available for debt repayments........... 1,027
Monthly UNsecured debt repayments....... 924
Amount left after debt repayments....... 103
Personal Balance Sheet Summary
Total assets (things you own)........... 75,000
Total HP & Secured debt................. -48,300
Total Unsecured debt.................... -38,809
Net Assets.............................. -12,109