Taking Control of debts at last !!!

mooandstinkysmum

Hello All,

After reading the many posts on this website, I realised that I am not the only person living in debt (although it oftens feels like that), and that it is time to face up to them and take control, even if it means taking drastic measures (moving back in with the parents and renting out my house !!!).

I'm not quite sure where my debts came from. It seems somewhere between getting married (recently ended) and buying a house, I have been living beyond my means but with nothing to show for it..... With the recent end of my marriage I have decided to make a fresh start in all arena's on life - and have finally decided to tackle the debts.... If anyone has any advise it would be greatly appreciated!

So here goes.....

Monthly Incomings:
Wages: £1319
Rent for house: £563.50

Total: £1882.50

Monthly Outgoings:
Buildings & Contents: £22
Capital One Credit Card £100.00
Mortgage: £611.12
Car Loan: £135
Car Insurance: £25
Contact Lenses: £22
Phone Contract: £5
Pet Insurance: £14
Letting Agents Management Fee's: £62.50
Virgin Credit Card: £6
Petrol: £150
Rent at Mum and Dad's: £80
Monthly Allowance for food and spending: £200

Total: £1432.62

Monthly Balance: £449

My Debts (very scary!!!) £14374.88 !!!!!!
Virgin Credit Card:502.47, Capital One:2872.41, Lloyds Overdraft:1600, Barclays Overdraft:1600, Car Loan:3800, Debt to parents: £4000.

If anyone has any advise I would appreciate it, as although my parents are great, I would love to move back into my home as soon as possible!

Thanks All xx

tallyhoh

:hello: Hello,

Just a quick query- are you paying contents insurance on the house you are renting out? Can you do that? Surely the tenants should have a policy.

mooandstinkysmum

Hi, Thanks for speedy reply...Sorry you're right. It's a buildings/landlords insurance. Not contents, but compulsory I think.

LilyThePink

Hi there!

I just wanted to ask about your car running costs. Your petrol is very high, is this for travel to work? Also, have you budgeted for road tax, repairs etc..

Lily

lunar

i know what you mean about it feeling like you are on your own, especially after the end of a marriage.

Just wanted to wish you good luck.