Rent (and general) advice needed....The camels back has now snapped.

Tixy

littlefluffyclouds wrote: »

I'm still unsure of all the ins and outs of debt management plans and trustdeeds, I want to find the best plan for me. I have heard of StepChange, I will have a look at their website also. I think the more information I have on both subjects, the better idea I will have of what to do.

You might want to add DAS to your list of options to look in to as well. Its like a formal structured DMP and is a great scheme for some people in Scotland (in fact due to DAS there are comparatively far less 'normal' DMPs in Scotland).

sazaccount

Hi

didn't want to read and run, I don't know about DMP etc but with the selling if your on facebook there are loads of local selling pages. Most items go very quickly and for reasonable prices. The buyers come to you (so no postage costs) and its cash in hand so don't have to worry about ebay/paypal fees.

Good luck try and get some sleep and then sit down tomorrow with a cuppa, all of your paper work and a notepad. When ur done pop back on here with an SOA someone should be along soon with a link and the amazing people on here will give advise on where to start

Good Luck xx

National_Debtline

littlefluffyclouds wrote: »

The National Debt Line sounds like a good starting place for me. I have taken note of this, and will call them tomorrow and ask them what they advice with regards to a DMP or trustdeed.

Hello there,

I hope you do call, we have advisers that are especially trained to advise those who live in Scotland - as the system is a little different north of the border (as I'm sure you already know!). Our website has a handy guide which compares the various debt options, you can find it here: https://www.nationaldebtline.org/S/information/10%20ways%20to%20clear%20your%20debt/Pages/default.aspx

Debt Arrangement Schemes are certainly worth considering, by the way. They are not a formal 'insolvency' measure but they ARE binding on creditors. I wish we had them for the folks we help in England and Wales.

If you have any further questions please feel free to ask.

Very best wishes,

David @ NDL.

FireWyrm

Morning Don

How's that budget/soa going?

Dont worry, there are ways out of this. We've almost all been there and done that. My lightbulb moment was standing at a checkout with a belt full of food two days after payday and having my debit card declined. That food was to feed us, and I should not have busted my overdraft so thoroughly that they cut me off two days after payday. So, been there, done that. There is a way back, but it is going to take some hard graft and discipline from you.

As well as the SOA, you're going to need some sort of budgeting tool going forwards. I really recommend YNAB (you need a budget), but that costs money you dont have right now. In which case, feel free to use an excel spreadsheet I made the other week for people. It is free, go ahead, use it. You just need to invent your own categories and work out what your budget will be going forwards.

You also need to separate your types of spending. You cannot have your rent being swallowed by overdrafts and your first mission is to separate them into different accounts. You need to get your bills and fixed expenses away from running accounts with food and fuel/travel, that way, this cannot happen again. Why dont you get yourself a clean basic account from an unrelated bank and have your next wages paid in there. Abandon your account with the OD and view that as a debt to be repaid. Start fresh somewhere else with a simple basic and free account where you can have your money paid in and then separated into other accounts for other purposes.

Come back to us with the SOA and we'll see where you are and can offer more targetted advice.

My spreadsheet can be found here : https://www.dropbox.com/sh/58m07i0jklqny0e/n3c1E0QUVw

littlefluffyclouds

Evening All,

So today I have tried to compose my SOA, but got so lost with it. Whilst I was speaking with each supplier, I didn’t even think to get the APR, it didn’t cross my mind.. I should have had the Stoozing SOA page open while I was chatting with them, then I would have had all the correct information. I found it really difficult trying to put together my own SOA as every month has just been borrow from one place, to rob Peter and pay Paul – I have added the outstanding amounts below, most debts have been handed over to collection agencies etc

Below is my truly ugly list of debt – Couldn’t be more ashamed of myself right now, I am so so embarrassed to be writing all this down and viewing it, more so for everyone else to view it (if this isn't a wake up call, nothing will be). The total sum = £17195.35:eek:, I have broken it down as follows.

Credit Cards – Total £1603.53
Aqua - £460.11
BarclayCard - £423.15
Capital One – £220.27
Vanquis - £500.00

Store Cards / Catalogues – Total £1409.96
Very - £958.07
New Look - £265.73
Dorothy Perkins - £186.16

Overdraft – Total - £1397.81
Santander - £1332.18
Halifax - £65.63

Car Finance – Total - £3159.88 (This is for a car that I no longer have, has been passed to a legal firm whom I pay £100 a month to)

Payday Loans – Total - £8854.17
#1 - £779.00
#2 - £905.73
#3 - £659.14
#4 - £2016.91
#5 - £433.33
#6 - £285.03
#7 - £1939.88
#8 - £594.62
#9 - £233.74
#10 - £546.79
#11 - £315.00
#12 - £145.00

Misc Debts – Total - £770.90
Old O2 contract account - £172.78
Old Ebay A/C - £48.12
New Ebay A/C - £10.50
Work Advance - £285.00
Work Sale - £70.00
Family Loan - £200

Monthly Budget Moving Forward (will be reviewed each month) – Pay Day – 25th April

Rent ………………………………………………………….£400.00 (Inc all bills – council tax/electric/gas/tv licence)
Train Fare………………………………………………….£150.00
Grocery Shopping……………………………………..£100.00 (Includes toiletries/cleaning products)
Mobile Phone Contract……………………………..£75.00 (o2) ** See note 1 below.
Car Finance Payment…………………………………£100.00 *** See note 2 below.
Work Wages Advance……………………………….£285.00
Work Sale…………………………………………………..£20.00 (for goods that were bought through work)
Personal Money…………………………………………£30.00 (my allowance for the month)

Totals - £1160.00


** Note 1 - O2 mobile phone contract - Includes £10.00 per month insurance. (I have to wait until my outstanding bill is paid at the end of this month before I can discuss downsizing tariff with them).

*** Note 2 – I have included this as it’s a legal payment & I’m not sure how this fits in once I set up a debt arrangement plan.

After my work advance has been paid on the 25th April, I will have £285.00 available for debt repayments.

Have a look through my mess, feel free to add any comments you think would help me out. I have signed up to every paid survey going, I have registered with freelancers, and paidbythehour (think that’s what its called). I know they all take a good while to pay up but I guess it's a start. I have searched any part time evening / weekend jobs going locally, as much as I don’t want to take any extra work on with studying, I feel that it may be my only hope of ever becoming debt free. If I had a car I wouldn’t think twice about doing Avon etc. Also been looking to change my full time job for a while to something that pays better... So fingers crossed.


My work colleague mentioned to me today that I should be entitled to working tax credits, I feel so stupid, but I don’t know what they are and how I am entitled to them as I am working, so I have put a note in my planner to contact the HMRC tomorrow to see what exactly I am entitled to.

I am exhausted, and hugely emotional this evening as I still have no idea how I am supposed to come up with at least half of my overdue rent money which is due by the 20th. I feel like I have done the best I can today. I have stopped smoking over a month now and tonight more than ever what I would do for a puff of a cigarette and a bit of chocolate haha!... Just aswell I have about 50p left in my pocket till payday otherwise I would of gone down the shop and bought a packet of smokes!! That along with using up the last of my meal replacement diet products on my weight loss mission & fighting this debt demon, no wonder I'm a bit teary and crabbit!

Tomorrow, I will contact National Debt Line – I wanted to make sure I had all the up to date amounts first before I contacted them. See which plan is best.

Apologies for the super long post (I could never be a short hander – have too much to say)

Thanks for reading.
Don.

littlefluffyclouds

FireWyrm wrote: »

Morning Don

How's that budget/soa going?

Dont worry, there are ways out of this. We've almost all been there and done that. My lightbulb moment was standing at a checkout with a belt full of food two days after payday and having my debit card declined. That food was to feed us, and I should not have busted my overdraft so thoroughly that they cut me off two days after payday. So, been there, done that. There is a way back, but it is going to take some hard graft and discipline from you.

As well as the SOA, you're going to need some sort of budgeting tool going forwards. I really recommend YNAB (you need a budget), but that costs money you dont have right now. In which case, feel free to use an excel spreadsheet I made the other week for people. It is free, go ahead, use it. You just need to invent your own categories and work out what your budget will be going forwards.

You also need to separate your types of spending. You cannot have your rent being swallowed by overdrafts and your first mission is to separate them into different accounts. You need to get your bills and fixed expenses away from running accounts with food and fuel/travel, that way, this cannot happen again. Why dont you get yourself a clean basic account from an unrelated bank and have your next wages paid in there. Abandon your account with the OD and view that as a debt to be repaid. Start fresh somewhere else with a simple basic and free account where you can have your money paid in and then separated into other accounts for other purposes.

Come back to us with the SOA and we'll see where you are and can offer more targetted advice.

My spreadsheet can be found here :

Hi,

Thank you for your reply, I have created a SOA (if you can call it that) and budget.

As for a clean basic account - my credit score seems to be that bad that I am not able to get even the most basic account, I tried today to apply for a basic account, but was automatically rejected :mad: so I may have to go back to the drawing board on that one.

You are a spreadsheet wizzard nice job! Thanks for the tips.

Don.

[Deleted User]

Hugs OP, lady after my own heart with pouring out your heart!
getting it out is the first step, please take professional advice,
can't stress this enough sorry feel I can't offer any knowledge on dealing with your debt options, I think you've reached a crisis point - and it is ok
I feel for you and just wanted to let you know if I could share a box of tissues I would and want to thank you even for putting stuff into prospective for me.
I wish you the very best and you will get past this look back and think what was it all about although the figures may stay, kindest wishes xx

Imbroglio

Hello again,

Whilst we're waiting for more proficient people to help you out a bit, I just wanted to send you a friendly hand squeeze. My dad gave my mum a 'crabbit' mug because it reminded him of her, being southerners we were using it for years before someone explained what it meant, seeing you use it made me smile.

Hang in there

littlefluffyclouds

Imbroglio wrote: »

Hello again,

Whilst we're waiting for more proficient people to help you out a bit, I just wanted to send you a friendly hand squeeze. My dad gave my mum a 'crabbit' mug because it reminded him of her, being southerners we were using it for years before someone explained what it meant, seeing you use it made me smile.

Hang in there

:rotfl:Laughing no end. I am actually drinking my cuppa tea out of 'crabbit' mug just now... One of the best Scottish words ever..

Cheers for the friendly hand squeeze!

Don.

littlefluffyclouds

Deleted%20User wrote: »

Hugs OP, lady after my own heart with pouring out your heart!
getting it out is the first step, please take professional advice,
can't stress this enough sorry feel I can't offer any knowledge on dealing with your debt options, I think you've reached a crisis point - and it is ok
I feel for you and just wanted to let you know if I could share a box of tissues I would and want to thank you even for putting stuff into prospective for me.
I wish you the very best and you will get past this look back and think what was it all about although the figures may stay, kindest wishes xx

Thanks for your kind words.
This is not me in the slightest, I never like to burden anyone with anything, I'd rather just deal with all my problems myself, but I have come to realise that this is my sink or swim time, I either ignore it for the rest of my life and pay for it later, whilst getting deeper and deeper in debt, or stand up to my full 5ft 3 and deal with this head on now... By the time I have completed my courses, I want to be in a position to start my own business, and own my own place (at somepoint in the future). I don't want this ugly debt monster haunting me one day longer, so I figured it was best to just put everything out there, no holding back

Don.