Domestic Violence and Financial Abuse - left with £000's worth of debt

Grumpelstiltskin · 25 February 2022 at 1:03PM

OK Thanks for explaining about your daughter.

fatbelly · 25 February 2022 at 1:18PM

downandoutagain said:

here it is..... and it looks horrible

[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.........
Number of cars owned.................... [b]

Monthly Income Details[/b]
Monthly income after tax................ 2400
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0[b]
Total monthly income.................... 2400[/b][b]

Monthly Expense Details[/b]
Mortgage................................ 868
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 10
Council tax............................. 250
Electricity............................. 65
Gas..................................... 40
Oil..................................... 0
Water rates............................. 55
Telephone (land line)................... 0
Mobile phone............................ 124
TV Licence.............................. 13.25
Satellite/Cable TV...................... 50
Internet Services....................... 50
Groceries etc. ......................... 120
Clothing................................ 0
Petrol/diesel........................... 350
Road tax................................ 0
Car Insurance........................... 33.93
Car maintenance (including MOT)......... 0
Car parking............................. 60
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 19
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 25
Holiday................................. 0
Emergency fund.......................... 0[b]
Total monthly expenses.................. 2153.18[/b]
[b]

Assets[/b]
Cash.................................... 0
House value (Gross)..................... 310000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0[b]
Total Assets............................ 310000[/b]
[b]

Secured & HP Debts[/b]
Description....................Debt......Monthly...APR
Mortgage...................... 212000...(868)......0[b]
Total secured & HP debts...... 212000....-.........- [/b]

[b]Unsecured Debts[/b]
Description....................Debt......Monthly...APR
Lloyds / Link (o/d)............1093......0.........0
HSBC (c/c).....................5074......0.........0
Lloyds / Link (o/d)............1627......0.........0
HMRC CTC (o/p).................458.......0.........0
HMRC CTC (o/p).................4500......0.........0
Council Tax ...................1200......0.........0
people Energy .................1200......0.........0
Tesco (c/c)....................3959......0.........0
Next Directory.................2393......0.........0
Vanquis........................3922......0.........0
barclaycard (PRA)..............3828......5.........0
MBNA (cc) Link.................8086......0.........0
nationwide loan ...............6040......0.........0
barclaycard (PRA)..............693.......5.........0
Lloyds / Link (c/c)............2406......0.........0
Lloyds / Link (loan)...........9155......0.........0
Lloyds / Link (loan)...........4753......0.........0[b]
Total unsecured debts..........60387.....10........- [/b]

[b]
Monthly Budget Summary[/b]
Total monthly income.................... 2,400
Expenses (including HP & secured debts). 2,153.18
Available for debt repayments........... 246.82
Monthly UNsecured debt repayments....... 10[b]
Amount left after debt repayments....... 236.82[/b]

[b]Personal Balance Sheet Summary[/b]
Total assets (things you own)........... 310,000
Total HP & Secured debt................. -212,000
Total Unsecured debt.................... -60,387[b]
Net Assets.............................. 37,613[/b]

[i]Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

Looks like an IVA situation to me. £200 per month would take 300 months with a debt management plan but 72 months with an IVA. You would pay about 14k and the creditors would get something like 10-15p in the £ after fees

downandoutagain · 25 February 2022 at 1:24PM

fatbelly - its a route that i am not keen on, but suspect that you are right, i am just upset that the majority of this is his debt and not mine!

i am also afraid that my creditors wont agree to it now at this stage, as I have just stuck my head in the sand, because i couldn't face it

downandoutagain · 25 February 2022 at 1:25PM

i had spoken to PRA and explained the violence and abuse, but nothing - no offer of help, it was 'its in your name, you are responsible'

downandoutagain · 25 February 2022 at 2:17PM

I should point out that i have a Help to Buy mortgage - not sure if that would affect a IVA

Brie · 25 February 2022 at 2:20PM

No practical advice to offer today but just wanted to say well done for taking the first big step. It takes a lot of strength and I'm pleased that you were able to do it, not just for yourself but also for your daughter who is seeing first hand what a strong individual her mother is.

TripleH · 25 February 2022 at 2:24PM

Thanks for the update. My thinking was whether you could show the funds never came to you, thought I'd ask.

downandoutagain · 25 February 2022 at 2:41PM

Brie said:

No practical advice to offer today but just wanted to say well done for taking the first big step. It takes a lot of strength and I'm pleased that you were able to do it, not just for yourself but also for your daughter who is seeing first hand what a strong individual her mother is.

thankyou - but im not sure that she sees strong, I think she see's a broken woman trying to recover and salvage something from this

TripleH · 25 February 2022 at 2:49PM

But you are strong.

You got him out your life.

You now heed to keep him out.

Life isn't easy but you are free of him and the longer he is gone the better you will feel.

A small victory is still a victory remember that.

Plus, and I mean no offence, but you have shown your daughter that should she end up in a similar position (I hope she won't), that she can get free and make a new start.

It's also how we get up and recover from life's mishaps that make us strong.

I know people whose lives fell to pieces the moment they hit a barrier because until then they never had to deal with failure. Those who can deal with failure pick ourselves up and move on a little wiser.

downandoutagain · 25 February 2022 at 2:54PM

TripleH said:

Thanks for the update. My thinking was whether you could show the funds never came to you, thought I'd ask.

no, all to me, like i said, he did this to his most recent ex-wife, she was left with £35k debt. when i paid his car finance the transactions are on my credit cards, and i transferred him very large sum of money 'for safekeeping' which he spent, because he thought he was entitled to do so

Domestic Violence and Financial Abuse - left with £000's worth of debt

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