Final Debt Dairy

headcase

This is my final debt dairy. Today my wife and children haveleft me. I feel so low. The house is onthe market and we are going our seprate ways. I have lied about how my business is going. I’m heavy in debt , over weight and generallyfelling rubbish. I’ve tried and tried –but everyone has their limits. My wife of 30 years ( both 48 ) has had enoughnot having any financial security. Been self employed does not help and withbills higher than income.

I do not want to sell and I want her and the children back.I so want them back. It’s the debts, and what goes with it – that has killedit.

I so ashamed of who I owe money too. Now I don’t care – Iwant them paid off. IN FULL.

Loan 1. O/s £1500
Loan 2. O/s £2250
Tax. £15000
National Insurance class 2. £275.
Clear mortgage arrears of £6600. Mortgage of £251000.
General Bills outstanding £2500. Gas, electric, council taxetc.
Family members £37500.
My wife £25000.
Friend £3000.
Misc £7500.
I’m paying them but need to increase income to get them paidoff quickly.
Also been 20 stone and 5 foot 9 inches. Loose weight.
I have to replace my 13 year old car.
I run my own business. So there is a realistic chance ofdoing this. I have given myself a time period to pay off everything –other than the mortgage for the time been.

And finally – get my wife and children back.

The only way is to increase my income , to pay off debt, tosave up , to lose weight and re- educate myself.
I set my self withtargets and this is my final debt dairy. I will post twice a week. Thanks for reading.

NoOneAround

Hi Headcase,
Don't despair, there are loads of people on this site that are so supportive.
I totally understand as we have been self employed and business has been so up and down the last 4 years, so my other half went back to work. Trouble is then there is less time to run own business so its a viscious cycle. We have a £210K mortgage, nearly half of which is interest only and we only have 11 years to run and pay it off ...nothing in place as endowments were useless.
in addition we have 72K unsecured debts + nearly 40K to family. which we have spent over two years servicing interest payment and not actually getting debt down.


Have you spoken to a debt charity - I have very recently and they really know how to help and are so understanding. Speak to someone urgently - mortgage arrears and Tax debt need to be dealt with urgently!!!!!


Our relationship is going downhill too, but boosted by support from this page am taking tiny steps each day


Someone post a great quote from Martin saying that he has never yet come across a debt problem that did not have a solution......


all the best and keep posting.

patman99

On this forum you are not alone. Everyone on here has/had debt and is dealing with it one bit at a time.
The important bills are Tax, NI , mortgage and Council Tax.
As you are s/e you may be able to claim working tax credit, so would be worth having a punt even for an extra £5 per week.

If you feel up to it, try posting an SoA and we can use the info to suggest ways to help you more effectively.

Op, you haven't mentioned the line of work you are in, but I'd guess at something seasonal.

Could you undertake a different line of work to supplement your main business ?.

Celticmiss

Hello headcase. I am pretty new on here but getting lots of support and I know you will to. You are having a horrible time and the folk with far more experience with money matters will help you.

This might sound bonkers but I promise it will help-walk everyday for 30mins. It will help your physical and mental wellbeing. The quiet time will help your plans and the walk will help you with the weight. Plus its free. Good luck.x

headcase

Update as of today. After sorting out many personal issues and many upsets etc. Loan one and two outstanding amounts are £1175 and £1275. National Insurance paid off and upto date.
Arrears on mortgage down to two months ( 2100)
Inland Revenue outstanding £2250. Rest paid off
All the bills upto date.
council tax date none
wife down to £5000 after many discussions.
Friend outstanding £2000.
The rest paid off.


Still have to car and lost a couple of stone.
I worked,, worked and worked and now earn about £15000 per month on average and hoping for a bonus in June. I force myself to do stuff and its amazing the feels you get. Just like the new Honda ad.
I was in a corner and then I said to myself ' be in control and sort your self out '. So I did. I still have about £17000 of debt and I will clear this lot been June/ July. Having this debt makes life soooo difficult and gets you down. When I paid off some debt it was a great feeling.
However - tonight I'm sitting down with my wife and deciding what we are going to do. In someways the debt has lifted a huge burden of our shoulders but opened up others such as years of anger ( why could you of done this earlier etc etc )


See you soon.

Elmly

Good luck.

patman99

Good luck with speaking to your wife. Hope the conversation goes well.