Big life decision

Emmia

theoretica said:

Hasn't Brexit made the move to Germany option really difficult?

Does the OP have the right to work, or would they be living off boyfriend/proceeds of flat sale/rent?

PM22

I have ruled out going to Germany but I would have used my own money until we were both ready to move back to Ireland, where we're from and then we would have pooled our money 

PM22

kimwp...

I agree there is an element of impulsivity 

However, these debts need to be paid and how else can I do it but to sell?

PM22

The houses are so lovely... who wouldn't be tempted to put their money worries behind them and leave a dingy flat here in Crawley, even the worst places in Stoke seem to be at least comparable 

kimwp

PM22 said:

kimwp...

I agree there is an element of impulsivity 

However, these debts need to be paid and how else can I do it but to sell?

People come on here with debt all the time and selling their home is almost never advised as an option. You probably have options like DMP, IVA etc, but without your SOA, it's difficult for the forum to advise. Why are you averse to the token payment plan advised by stepchange? 

PM22

I'm not averse to it. I've initiated the process and am so grateful to them for their help and support.

But my debt worries keep me awake at night. I feel so ashamed. I get paranoia with my bipolar that they can take my home away 

PM22

Please send me the link for the SOA someone!

enthusiasticsaver

PM22 said:

kimwp...

I agree there is an element of impulsivity 

However, these debts need to be paid and how else can I do it but to sell?

Not by selling your house.  That is the last most desperate option.  I would look at a DMP before going down that route. 

enthusiasticsaver

PM22 said:

Please send me the link for the SOA someone!

Here is the link.  Format for MSE  http://www.stoozing.com/soa.php

Unsecured debtors like credit cards and bank overdrafts cannot take your house.  Prioritise paying your mortgage and any secured loans above other debts. 

PM22

Household Information

Number of adults in household........... 2

Number of children in household......... 

Number of cars owned.................... 1 ( My son is 18, studies full time and pays for his own car including insurance , haircuts, clothes, transport, college costs, social life as he is studying for A levels and working at McDonald's. I literally pay his food, utilities and that's it)

Monthly Income Details

Monthly income after tax................ 1807

Partners monthly income after tax....... 0

Benefits................................ 91.65

Other income............................ 0

Total monthly income.................... 1898.65

Monthly Expense Details[/b]

Mortgage................................ 650

Secured/HP loan repayments.............. 0

Rent.................................... 0

Management charge (leasehold property).. 35

Council tax............................. 111

Electricity............................. 89

Gas..................................... 79

Oil..................................... 0

Water rates............................. 36

Telephone (land line)................... 0

Mobile phone............................ 80 - cannot be changed according to O2...recent shiny new Bipolar high driven purchase...includes monthly usage which also cannot be changed. I tried...believe me 

TV Licence.............................. 13.08

Satellite/Cable TV...................... 0

Internet Services....................... 33

Groceries etc. ......................... 350.....I know but the cat won't eat Aldi food so adds 

Clothing................................ 10

Petrol/diesel........................... 255.... I commute to work 

Road tax................................ 3

Car Insurance........................... 40.... includes breakdown I hope 

Car maintenance (including MOT)......... 25.... very old car 

Car parking............................. 0

Other travel............................ 0

Childcare/nursery....................... 0

Other child related expenses............ 0

Medical (prescriptions, dentist etc).... 0

Pet insurance/vet bills................. 15.....only recently taken out 

Buildings insurance..................... 0....I don't know if the council made me pay this earlier this year.....ex LA flat,
cheapest flat in Crawley when bought 

Contents insurance...................... 5

Life assurance ......................... 0

Other insurance......................... 0

Presents (birthday, christmas etc)...... 0

Haircuts................................ 10

Entertainment........................... 0

Holiday................................. 0

Emergency fund.......................... 10.... I get so depressed about this so I buy loads of dental hygiene products...at least I'll die with my teeth 

Total monthly expenses.................. 1849.08

Assets

Cash.................................... 235,000

House value (Gross)..................... 0

Shares and bonds........................ 0

Car(s).................................. 0

Other assets............................ 0

Total Assets............................ 233000

Secured & HP Debts[/b]

Description....................Debt......Monthly...APR

Mortgage...................... 85000....(650)......very low as ex husband is rich and owns multiple properties....assured it cannot be lower... he earns more than the PM so I trust him

Total secured & HP debts...... 85000.....-.........-   

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

NatWest Overdraft .............250.......0.........I think 29.99

118 Money Loan unsecu..........4700......0.........I think 39.99

Zopa ..........................200.......0.........I don't know 

Capital One ...................750.......0.........I think 39%

Ocean Finance .................200.......0.........I think 39.99%

Aqua ..........................1300......0.........I think 39.99%

118 Credit Card ...............1300......0.........I think 39%

Total unsecured debts..........8700......0.........

1. I can't seem to work more than 40 hours as it sends me into mania 
2. I owe someone £500
3. I owe someone else £1550
4. I owe payday loans maybe 1500
5. I am contracted to do a course with ILM payments are 201.25 per month and I have deferred my place as I am currently suicidal with Bipolar episode 
6. ILM charged me an extra £60 to defer and said I cannot get out of paying the fees until December 2022 - no matter what, absolutely nothing they can do even if I quit the course I have to pay for it

Monthly Budget Summary - This is not a true reflection - see above 

Total monthly income.................... 1,898.65

Expenses (including HP & secured debts). 1,849.08

Available for debt repayments........... 49.57..... StepChange calculated £13.00 for token repayments 

Monthly UNsecured debt repayments....... 0[b]

Amount left after debt repayments....... 49.57[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 233,000

Total HP & Secured debt................. -85,000

Total Unsecured debt.................... -8,700[b]

Net Assets.............................. 139,300[/b]

[i]Created using the SOA calculator at www.stoozing.com.