Starting out again

SuperShaun

Hey folks,

Have had a rough 18 months featuring a marriage break up, moving out to a death trap of a building, to move on again (breaking a tenancy to do so, so sadly on the hook for two lots of rent for now... hopefully sorted on 01 Jul), a hospital visit at the start of the year, and signed off with stress due to the issues with my last place and work going mad due to Covid.

The upshot it, I have some debt from the marriage, am temporarily running at a defecit, and need a bit of a pick me up: I have been struggling to get out of debt all my adult life and am completely fed up.

Any tips on motivation? I had hoped to restart once I moved out in May but am steadily heading backward.

So... my debts:

First Direct Loan: £5,561.28
MBNA: £7,152.92 (approx £2.5k interest bearing)
PayPal credit: £316.65
Argos Card: £850.00

Blackcats

Hello supershaun - sounds like you've had a tough time.  Everyone here is very friendly and helpful and we can help motivate you  Are you getting any pay from your work while you are off sick?  

SuperShaun

Hello Blackcats,

Thankfully I am - returning to work on Weds after two months off.

LittleMissDetermined

Hi Supershaun

i hope your return to work went well and that you’re being supported back into the business. 

It would probably help us give you the best advice if you posted your SAO so we can see where you could maybe cut back. 

Is your current deficit due to the double rent or does it go further than that?

LMD x

SuperShaun

Hey LittleMissDetermined,

For now it is double rent and bills (approx £815/mth) which is hammering me.

I will have a surplus of £470/month once I get the flat gone. So far I am out £1,800 as it is taking longer than expected to let.

Forgive me, but what is an SAO?

Supershaun x

joedenise

Think that's a typo it should read SOA - Statement of Affairs.  If you use this one you can format it for MSE at the bottom and post on here:

https://www.lemonfool.co.uk/financecalculators/soa.php

Good luck with getting sorted out.

Allikat86

@SuperShaun - welcome - I’ve been where you are and it’s a tricky place! Hope that you find some support and guidance here, and also that things go well with return to work!

LittleMissDetermined

Apologies! I think my autocorrect kicked in and I failed to notice... Yes I did mean SOA, thanks @joedenise

joedenise

No problem!  Autocorrect has a lot to answer for

SuperShaun

Evening all... I have moved the interest earning part of the MBNA to a 0pc card for 14 months with Halifax.

The ex has agreed to pay additional money into the loan, so hopefully that will expire sooner rather than later.

I will do an SOA tomorrow - hoping it will be confirmed my old flat has been let so then can start again with my finances properly.

LittleMissDetermined

Hey SuperSean, the above sound like positive steps for you!