60K is there any hope.??

jenjade

I think you need to make a small list of actions to make a start on actually doing something!

1) Tell your wife she may be able to cut spending etc. 2 heads are better than one and she won't thank you for keeping it quiet!

2) seek advice like the others have said!

3) Pick the debt that is worrying you the most add it to your signature nad start looking for ways to pay extra. attack them one by one much more acheiveable and less daunting!

4) look for stuff to get rid of the money went somewhere find out where and try to make some back, e bay amazon or car boot! I suggest a car boot get rid of everything you don' need then chuck that money at the worse debt!

This will not go away share it with your oh and start dealing with it!

Good luck and congratulations on the little feet that are coming!

Also use freecycle to get the stuff you need for the baby!

in2deep_2

OK so ......im going to send out CCA and then SAR requests to all of the card people, at this stage if i can get some leverage to lower payments then im sure going to try this first.

I can pay the mortgage/bills and secured loan with my wages so im only risking the wrath of the 'unsecured' people.

My mortgage and loan are equal to the value at the moment so what else could they do to me.???? a charging order would be pointless...wouldn't it.???

I had a letter from the bank last week saying how well my mortgage was going and im slightly ahead of schedule....i also checked my credit file and its spot on equifax score of 518..........this must be a parallel universe.!!!!

I phoned british gas as my monthly payments were set at £55.!! they are now £35 a month and i was £200 in credit.:T

My life insurance is 23 a month as they added an extra because i have high blood pressure and cholesterol.....is it ever worth cancelling it....even short term to save another £23.?


ELEC (PAYG) 30.??
BOILER/HEATING INS 13.49
BRITISHGAS 35.00
SKY DIGITAL 21.79 (going soon)
NEMO 600.99
LITTLEWOODS 32.60
CTF 10.00
TV LICENSING 11.95
HOME INSURANCE 18.79
WATER (meter) 52.00
COUNCIL TAX 112.00
BRITISH TELECOM 33.00
LIFE INSURANCE 23.82
OVERDRAFT INTEREST 10.45
MORTGAGE 440.00
WAGES 1626.31

Credit cards are at least £600 on top of this.
Then food petrol etc etc etc

It gives you some idea of the problem i am in.

GeorgeUK

Hi in2deep

I know you've put some figures up, but can you post up a full SOA? Just to make sure that everything has been covered - the list on the calculator is pretty extensive. Just format it for MSE and paste it here.
http://www.makesenseofcards.com/soacalc.html

Have you opened a new bank account to get your wages paid in to?
You need to have your wage going to an account that you don't owe any money to so that it won't just be taken out without your permission if you fall behind on payments.

Are there any bank charges that you could reclaim?
Have you checked your house is in the correct banding?

I wouldn't stop the life assurance just yet. You should have a good look on uswitch and moneysupermarket to see if you can get better deals than those you have for the other utilities and insurances though.

in2deep_2

The thing with the life insurance is that they come round and gave me a medical test before they let me have the insurance so i can only assume its more reliable than trying to compare other companies who don't have those details.

Do i need to change banks,?? i don't owe my bank (building society) anything and don't have cards with them, none of my cards are on direct debit so how could they access my money.

rachel6188

thats good id go with everybody get in touch with one of the debt charties and get some advice....you are doing well hun and be proud of yourself for admitting you need help and dont be ashamed...xox

GeorgeUK

In2deep, i was just concerned that you may have an overdraft or loan with the bank that you get your wage paid to - if you don't get any credit from that bank, then no need to change.

in2deep_2

Sorry i did misunderstand you, i do have an overdraft but that's being reduced by £50 a month every month...im not in trouble with them its just an annual review and not a bad thing as far as im concerned hopefully it will be cleared before the **** hits the fan.
Perhaps i could use a SBT to clear this up and keep the account as one of the few good ones i have.

dorisday

Hi have just read all your posts and it seems from your very first post in march 08 up to your last in august 09 you have racked up more debt to the tune of £10000 and you have NOT done anything about it!!! You came on here for advice but you have buried head in the sand and kept it there. You must realise that things dont get better thremselves with or without this forum and I know sometimes it feels just a little better to share your problems, but you have a family to look after and each day you dont start to sort it out is going to get worse. There are ways to help sort it as quite a few people on here have said, but you seem to want a magic wand waved to sort it for you. I know what been heavily in debt means, Im still there, have been for 10 years and will be for the next 20 years (if I live that long) but after having my behind kicked I sorted it myself. Please read this and wake up!!!

GeorgeUK

Only a few cards allow SBT offer i2d, so be careful.

Even if you don't want to post a full SOA, it might be worth keeping a spending diary so you can see exactly where your money is going. You need to plug any holes so that your expenditure is not more than your income, then you can start to tackle the debt.

tallyhoh

You probably need life insurance because of your mortgage.