I am in a mess and don't know what to do

rockm87

Skinnylatte wrote: »

I think you need to change your user name first! You are not uselessnow, don't label yourself this way, you are on here because you have realised things need to change and you are asking for help, that is far from useless. It is a very positive and wise move.
I had a similar debt to you 2 years ago, I came on here and through the help of these forums I sorted it.
We look forward to your SOA....

Hi!

I agree, we are all here together, one way or the other we're not useless! we are pulling together for the better.

I would however talk to your partner, you need the support and you are both in it together however, especially if you cant afford living expenses.

It's hard, its horrible, but in the long run it will be so much better.

amorge

Haha I did think that was a lot on cars

Make sure you edit your car assets on your original post.

It's so hard isn't it, I was in shock when I calculated my debt to be £21k. Since Friday I have sold £200 worth of bits round the house that were never used and have listings on eBay at the moment - is this something you can do ?

[Deleted User]

AMENDED SOA 22/6/15


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1500
Benefits................................ 524.4
Other income............................ 0
Total monthly income.................... 2024.4
Monthly Expense Details
Mortgage................................ 506
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 164
Electricity............................. 28
Gas..................................... 28
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 5.5
Mobile phone............................ 12
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 10
Petrol/diesel........................... 300
Road tax................................ 44.16
Car Insurance........................... 51.5
Car maintenance (including MOT)......... 41.66
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 14
Pet insurance/vet bills................. 0
Buildings insurance..................... 12.5
Contents insurance...................... 0
Life assurance ......................... 22.38
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1521.82

Assets
Cash.................................... 0
House value (Gross)..................... 300000
Shares and bonds........................ 0
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 306000

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 65100....(506)......4
Total secured & HP debts...... 65100.....-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
t..............................8005......160...... .21
N..............................6210......139.7.... .23
s..............................3945.61...105...... .22
m..............................1800......23.88.... .6.9
Total unsecured debts..........19960.61..428.58....-

Monthly Budget Summary
Total monthly income.................... 2,024.4
Expenses (including HP & secured debts). 1,521.82
Available for debt repayments........... 502.58
Monthly UNsecured debt repayments....... 428.58
Amount left after debt repayments....... 74
Personal Balance Sheet Summary
Total assets (things you own)........... 306,000
Total HP & Secured debt................. -65,100
Total Unsecured debt.................... -19,960.61
Net Assets.............................. 220,939.39

[Deleted User]

rockm87 wrote: »

Hi!

I agree, we are all here together, one way or the other we're not useless! we are pulling together for the better.

I would however talk to your partner, you need the support and you are both in it together however, especially if you cant afford living expenses.

It's hard, its horrible, but in the long run it will be so much better.

I will leave my name as it is for now. It is how I feel.
I will not be discussing this with partner. It is my spending that has got me into this mess.
We can afford living expenses as long as I stop spending

[Deleted User]

uselessnow wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1500
Benefits................................ 524.4
Other income............................ 0
Total monthly income.................... 2024.4
Monthly Expense Details
Mortgage................................ 506
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 164 - If this is over 10 months, going to 12 months will reduce it to £136-66 per month.
Electricity............................. 28
Gas..................................... 28
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 5.5
Mobile phone............................ 12
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200 - This seems high for 2 people.
Clothing................................ 10
Petrol/diesel........................... 300
Road tax................................ 44.16
Car Insurance........................... 51.5 - Is there a reason this is so high?
Car maintenance (including MOT)......... 41.66
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 14
Pet insurance/vet bills................. 0
Buildings insurance..................... 12.5
Contents insurance...................... 0
Life assurance ......................... 22.38
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0 - As a home owner, you really need something in here.

Total monthly expenses.................. 1521.82

Assets
Cash.................................... 0
House value (Gross)..................... 300000
Shares and bonds........................ 0
Car(s).................................. 60000 - Are your cars really worth sixty thousand pounds?
Other assets............................ 0
Total Assets............................ 360000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 65100....(506)......4
Total secured & HP debts...... 65100.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
t..............................8005......160.......21
N..............................6210......139.7.....23
s..............................3945.61...105.......22
m..............................1800......23.88.....6.9
Total unsecured debts..........19960.61..428.58....-

Monthly Budget Summary
Total monthly income.................... 2,024.4
Expenses (including HP & secured debts). 1,521.82
Available for debt repayments........... 502.58
Monthly UNsecured debt repayments....... 428.58
Amount left after debt repayments....... 74
Personal Balance Sheet Summary
Total assets (things you own)........... 360,000
Total HP & Secured debt................. -65,100
Total Unsecured debt.................... -19,960.61
Net Assets.............................. 274,939.39
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

If your cars really are worth sixty thousand pounds, can you sell one/both and get something cheaper and more economical?

Aside from freeing up some cash, it would likely reduce fuel consumption and Road Tax, and maybe even motor insurance.

[Deleted User]

The amendes soa has the correct car value it now
Council tax is that price over 12 months
Insurance is for 2 cars. 1 with business travel plus breakdown cover
£200 grocery includes toiletries and cleaning

National_Debtline

Hi OP


Thanks for sharing your SOA. I just wondered, of the benefits that you have listed on there, are any of them time-limited or are you in receipt of them indefinitely? Just in case it means anything on your budget is liable to change in the foreseeable future.


Dennis
@natdebtline

[Deleted User]

I have indefinate DLA and esa for at least another 12 months

[Deleted User]

Sorry to keep asking questions

Which card should I aim to pay off first?

[Deleted User]

uselessnow wrote: »

Which card should I aim to pay off first?

The one with the highest APR, unless you've got one on a 0% (or very low) APR, which is about to expire and skyrocket.