Debt pay off advice after breakup

Hello Everyone,

I hear this is the place to come to find some advice on your personal situation.

So without telling my whole life story, its quite hard to talk about for a man. I finally got out of 6 years in abusive and violent relationship but it has left me in a right mess financially.

Took out loans and credit cards for her and now i am left with the debts to clear (they where not in joint names) I can manage the repayments as they are but it is leaving me with a very small amount to life on each month.

I earn goodish money, so i am lucky in that sense even though the bills have me sat starring out a bedsit window. On the upside it does beat been hit in the head with a frying pan by a mentalist just wasn't quite how i imagined freedom would look like :rotfl:

My credit rating isn't bad no ccj's not much in the way of missed payments, 2 in the last 5 years which where settled in a few days no defaults but as my debt level is standing so high and my short term lending ustalization is very high its stopping me from consolidating with a new product.

I can pay these things, i would just really like to lower the monthly repayments to make it more manageable so any advice on how to i would really be thankful to you all.

A IVA is something i have looked at but given i am not in arrears yet and my job requires me to have SC clearance that i will lose if i take out a IVA it doesn't seem a great option.

No savings, she liked me to be left with nothing so i had to ask her for money.

So her....sorry my credit cards;

Barclay card - £1200 - Maxed out
Capital one - £1800 - Maxed out
Vanquis - £3000 - Maxed out

So a month BC is £80, Cap1 is £75, Vanquis is £180

The loans (no more digs i promise), ill start with the shocking one first

Bambo - owe £9694 - settlement figuar £3907!! Per month £170 as you can see the owe/settlement on that one it really needs attention
Lendable - owe £5182 - settlement figuar £5019 - Per month £181

Now the bits that are where my fault

My car HP - settlement £14,487 - Per month £387 - Valued at £10,200
Don't know what to do with this, i took it out at a time when i could afford it and now i cant. Bad planning i know, live and learn i guess. Its with Motonovo i have spoken to them several time about sending it back but i am not half way thought the term and i don't have the 4k difference to pay. Any ideas?

Car insurance - £42 per month
Phone bill - £60 per month
Rent (its all bills included) - £800 per month
Puregym - £35 per month
Fuel costs - about £40 per month (i started cycling to work)

So out goings in bills £2050 per month adding £50 a week for food £2250

I am taking home around £2400 a month depending on the month is vary's by £100 each side

Any advice i would be forever grateful for. Can the keyboard warriors stay away please, mentally im in a bad state and i want to look forward not back. Im living the cheapest place i could find in the area.

It took allot to admit the issues and sit down and add it all up so please don't add to it.

Replies

  • DCFC79DCFC79 Forumite
    40.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    Qcx wrote: »
    Hello Everyone,

    I hear this is the place to come to find some advice on your personal situation.

    So without telling my whole life story, its quite hard to talk about for a man. I finally got out of 6 years in abusive and violent relationship but it has left me in a right mess financially.

    Took out loans and credit cards for her and now i am left with the debts to clear (they where not in joint names) I can manage the repayments as they are but it is leaving me with a very small amount to life on each month.

    I earn goodish money, so i am lucky in that sense even though the bills have me sat starring out a bedsit window. On the upside it does beat been hit in the head with a frying pan by a mentalist just wasn't quite how i imagined freedom would look like :rotfl:

    My credit rating isn't bad no ccj's not much in the way of missed payments, 2 in the last 5 years which where settled in a few days no defaults but as my debt level is standing so high and my short term lending ustalization is very high its stopping me from consolidating with a new product.

    I can pay these things, i would just really like to lower the monthly repayments to make it more manageable so any advice on how to i would really be thankful to you all.

    A IVA is something i have looked at but given i am not in arrears yet and my job requires me to have SC clearance that i will lose if i take out a IVA it doesn't seem a great option.

    No savings, she liked me to be left with nothing so i had to ask her for money.

    So her....sorry my credit cards;

    Barclay card - £1200 - Maxed out
    Capital one - £1800 - Maxed out
    Vanquis - £3000 - Maxed out

    So a month BC is £80, Cap1 is £75, Vanquis is £180

    The loans (no more digs i promise), ill start with the shocking one first

    Bambo - owe £9694 - settlement figuar £3907!! Per month £170 as you can see the owe/settlement on that one it really needs attention
    Lendable - owe £5182 - settlement figuar £5019 - Per month £181

    Now the bits that are where my fault

    My car HP - settlement £14,487 - Per month £387 - Valued at £10,200
    Don't know what to do with this, i took it out at a time when i could afford it and now i cant. Bad planning i know, live and learn i guess. Its with Motonovo i have spoken to them several time about sending it back but i am not half way thought the term and i don't have the 4k difference to pay. Any ideas?

    Car insurance - £42 per month
    Phone bill - £60 per month
    Rent (its all bills included) - £800 per month
    Puregym - £35 per month
    Fuel costs - about £40 per month (i started cycling to work)

    So out goings in bills £2050 per month adding £50 a week for food £2250

    I am taking home around £2400 a month depending on the month is vary's by £100 each side

    Any advice i would be forever grateful for. Can the keyboard warriors stay away please, mentally im in a bad state and i want to look forward not back. Im living the cheapest place i could find in the area.

    It took allot to admit the issues and sit down and add it all up so please don't add to it.

    Fill in an soa and post the results on here.

    The monthy phone bill is high.
    Any chance of a cheaper gym ?
    Any chance of a second job ?
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