Absolute Mess

Brenster · 20 August 2021 at 2:59PM

I think your wife going bankrupt is the most obvious option, you dont have a property to take by the sounds of it, and you dont have a realistic way of paying it off.
But i think you need to understand how the debt accumulated, as the source of the problem is the overspending. Unless you both understand the root of the issue and put plans in place, there is a chance it could happen again.
Good Luck whatever you decide

TheAble · 20 August 2021 at 3:03PM

Would it be worth having a chat to the council regarding some temporary accommodation maybe? It sounds like it's understandably difficult moving back in with your folks.

Dave_7 · 20 August 2021 at 3:30PM

Had that call they said we made ourselfs intentionally homeless. I explained we couldnt afford the 900 rent we was paying.
The debt was caused by ourselfs stupidity but we have dropped over 1700pm in income and the debt basically has got to much.

Grumpelstiltskin · 20 August 2021 at 3:39PM

Dave_7 said:

Unsure on exact how much she owes but its there or there abouts, all have been defaulted bar creation store card. The food is high but its just we live day to day because of the situation were in
cramped kitchen cant cook proper.

font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1[b]

Monthly Income Details[/b]
Monthly income after tax................ 2200
Partners monthly income after tax....... 0
Benefits................................ 152
Other income............................ 0[b]
Total monthly income.................... 2352[/b][b]

Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 200
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 60
TV Licence.............................. 0
Satellite/Cable TV...................... 14
Internet Services....................... 0
Groceries etc. ......................... 700
Clothing................................ 50
Petrol/diesel........................... 180
Road tax................................ 3
Car Insurance........................... 80
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 9
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 0
Entertainment........................... 70
Holiday................................. 0
Emergency fund.......................... 0
My car finance.......................... 320[b]
Total monthly expenses.................. 1776[/b]
[b]

Assets[/b]
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0[b]
Total Assets............................ 0[/b]
[b]
No Secured nor Hire Purchase Debts[/b]

[b]Unsecured Debts[/b]
Description....................Debt......Monthly...APR
Defaulted joint loan...........8400......0.........0
Defaulted loan.................18000.....0.........0
Defaulted cc...................12000.....0.........0
Creation store card............800.......0.........0
Defaulted cc...................15000.....0.........0[b]
Total unsecured debts..........54200.....0.........- [/b]

[b]
Monthly Budget Summary[/b]
Total monthly income.................... 2,352
Expenses (including HP & secured debts). 1,776
Available for debt repayments........... 576
Monthly UNsecured debt repayments....... 0[b]
Amount left after debt repayments....... 576[/b]

[b]Personal Balance Sheet Summary[/b]
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -54,200[b]
Net Assets.............................. -54,200[/b]

Looking at your SOA why are groceries for 2 adults and 2 toddlers £700 a month?

Dave_7 · 20 August 2021 at 4:04PM

I explained the reason why

Grumpelstiltskin · 20 August 2021 at 4:25PM

Sorry but even with a cramped kitchen £700 is extortionate.

Are you living on Takeaways?

I am not getting at you but you will have to realise that from now on you will have to get used to budgeting and finding ways around problems that don't cost a fortune.

When you were renting did you claim any benefits to help with your situation?

Dave_7 · 20 August 2021 at 4:46PM

I spend a bit a work im a truck driver and spend day to day No room to cook so convienance food also that included me and wifes ecig. When we was renting we was only entitled to 150 month universe credit and that was because of the 20 per week increase due to covid.
But we owed 1months rent arrears and gas electric to. We could not afford to live there and no money to move, so we panicked i guess and moved into parents.
Underestimated how hard it was going to be.

TheAble · 20 August 2021 at 8:16PM

Dave_7 said:

Had that call they said we made ourselfs intentionally homeless. I explained we couldnt afford the 900 rent we was paying.
The debt was caused by ourselfs stupidity but we have dropped over 1700pm in income and the debt basically has got to much.

But clearly your current living situation is unsustainable. Can you save up enough to pay 6 months rent in advance maybe? Even with poor credit a landlord might accept this.

Dave_7 · 20 August 2021 at 8:27PM

Be 6 or 7 months or so to save that money
but income is too low so would struggle even if a make happen.
We av no furniture or nothing
Just a big mess and cant see a way out.

Halloweb · 20 August 2021 at 9:55PM

There's always a solution but I agree you need to get help from one of the debt charities, don't whatever you do go to any company that charges you. Once they give you the right help and advice it will feel like a weight has been lifted, then you can focus on the house situation. But please get expert advice, Good luck

Absolute Mess

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