Making a new start

[Deleted User]

I can't deal with it. The stress is making my condition worse. Tomorrow will be just as bad if not worse. I can't do anything without sobbing.

parsniphead

It's so scary at first. We understand. Many of us have been there where you are now. You have some leeway in your SOA and you CAN do this.

Perhaps it may help to go and see your doctor. In the meantime rant and rave as much as you need on here. We are here to support you.

Ali x

ratrace

uselessnow wrote: »

I can't deal with it. The stress is making my condition worse. Tomorrow will be just as bad if not worse. I can't do anything without sobbing.

Your getting overwhelmed by looking at the overall debt and it seems high to you

You dont want to do that you have to see the debt in small chunks and work towards paying it off in bitezise chunks

you really need to do an soa to see where you can cut back and throw money at the debt, and if you need insparation then just read some dairy's on here where people have paid of debt of around £70 - £80k if they can do it so can we

you done fantststic by having your light bulb moment and realisng now instaed of in a few years down the road when the debt could have been a lot more

you can do this one step at a time eh

BEAT_THE_DEBT

There is no debt that can't be solved. Each day at a time. You didn't get the debt overnight so it won't go overnight. Just concentrate on paying priority bills such as home c tax utilities etc then seek help from a FREE debt charity and work out a plan. Once you have a plan you will start to feel much better and saving pennies and paying off debt will feel better than shopping . Sleep tonight and wake up tom determined

[Deleted User]

I have realised I am just going to have to keep paying the minimum on the cards. No other way out. It will be a long job

Bobarella

Good for you US. It is a long hard road for many of us trying to clear our debt l. I am in the same boat of having barely anything above the minimum to clear off each month but I am trying my best and I am seeing some progress. You will be ok.

[Deleted User]

As requested below is an amended version of my SOA. Both cars are needed and I am unable to work because of my health problems


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............................. 26
Telephone (land line)................... 5.5
Mobile phone............................ 12
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 160
Clothing................................ 2.5
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)...... 2.5
Haircuts................................ 7.33
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
windowcleaner........................... 10
Total monthly expenses.................. 1450.15

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
n..............................11154.....252.......22.9
t..............................1622.43...86........21.9
s..............................5754.02...119.3.....21.9
m..............................1701.52...26.5......6.9
Total unsecured debts..........20231.97..483.8.....-

Monthly Budget Summary
Total monthly income.................... 2,024.4
Expenses (including HP & secured debts). 1,450.15
Available for debt repayments........... 571.58
Monthly UNsecured debt repayments....... 483.8
Amount left after debt repayments....... 90.45
Personal Balance Sheet Summary
Total assets (things you own)........... 306,000
Total HP & Secured debt................. -65,100
Total Unsecured debt.................... -20,231.97
Net Assets.............................. 220,668.03