asked a thousand times I am sure - I am a newbie and in the ***t

nimbo

[quote=depressed of lincolnshire;9821865
or sell my body (only worth something if sold by the pound)
[/quote]

this is never all it's cracked up to be, you'd have to shave your legs and it's really not worth the effort.:rolleyes:

i'm not a financial wizz, but your in the right place. keep smiling, and good luck.

ANY_CHANCE

Hi there

You are definately Not on your own my OH and I did not lead a flash lifestyle but just through day to day expenses ( and the ruthless selling of PPI, charges, etc) and our lack of knowledge led to us being fairly well off to in huge debt

I wont lie times have been hard but we are attempting to make things better which includes:-

not borrowing any more money
reducing spending
increase income
reclaiming any charges or mis-selling

We have 3 children and at times i feel they may miss out but they are loved.

I concentrate on the positives in life
family
friends
the contibutions i make towards action now to reducing debt - feeling of self worth
I appreciate the more simple things in life and have re thought my priorities

I may not make all the right decisions but i am trying hard and this gives me some hope.

You have obviously worked hard keep going you can get through it

Take care

AC x

lucielle

Hi DoL,

We felt like that at christmas and it is an awful feeling. However once you have taken the initial plunge and a deep breath and gathered all the figures together you can start to move forwards. Keep posting, I don't often post but reading the many diaries and threads on here can be classed as an addiction.

L

kizzykizzywizzy

Hi there welcome
Well you may be short of cash, but you have oodles of wit! & keeping as cheerful as you can, will stand you in good stead, when times are tight.
As for credit card companies offering to raise your limits, I would imagine that's why a lot of us got in a mess, just as I used to panic thinking, what will we do next month we're nearly up to the limit they'd give us another 2K on our limit:eek:
Anyway wishing you luck:T

depressed_of_lincolnshire

<pre><b><br />Statement of Affairs and Personal Balance Sheet</b>

<b><br /><br />Monthly Income Details</b>
<br />Monthly income after tax................ 1800
<br />Partners monthly income after tax....... 200
<br />Benefits................................ 100
<br />Other income............................ 0<b>
<br />Total monthly income.................... 2100</b>

<b><br /><br />Monthly Expense Details</b>
<br />Mortgage................................ 580
<br />Secured loan repayments................. 0
<br />Rent.................................... 0
<br />Management charge (leasehold flat)...... 0
<br />Council tax............................. 124
<br />Electricity............................. 25
<br />Gas..................................... 45
<br />Oil..................................... 0
<br />Water rates............................. 15
<br />Telephone (land line)................... 11
<br />Mobile phone............................ 45
<br />TV Licence.............................. 15
<br />Satellite/Cable TV...................... 19
<br />Internet Services....................... 25
<br />Groceries etc. ......................... 280
<br />Clothing................................ 0
<br />Petrol/diesel........................... 60
<br />Road tax................................ 300
<br />Car Insurance........................... 25
<br />Car maintenance (including MOT)......... 50
<br />Car parking............................. 0
<br />Other travel............................ 0
<br />Childcare/nursery....................... 0
<br />Other child related expenses............ 0
<br />Medical (prescriptions, dentist etc).... 0
<br />Pet insurance/vet bills................. 19
<br />Buildings insurance..................... 45
<br />Contents insurance...................... 0
<br />Life assurance ......................... 20
<br />Other insurance......................... 20
<br />Presents (birthday, christmas etc)...... 30
<br />Haircuts................................ 30
<br />Entertainment........................... 0
<br />Holiday................................. 0
<br />Emergency fund.......................... 0<b>
<br />Total monthly expenses.................. 1783</b>

<b><br /><br />Assets</b>
<br />Cash.................................... 0
<br />House value (Gross)..................... 190000
<br />Shares and bonds........................ 3000
<br />Car(s).................................. 7000
<br />Other assets............................ 6000<b>
<br />Total Assets............................ 206000</b>

<b><br /><br />Secured Debts</b>
<br />Description....................Debt......Monthly...APR
<br />Mortgage...................... 72000....(580)......0<b>
<br />Total secured debts........... 72000.....-.........- </b>

<b><br /><br />Unsecured Debts</b>
<br />Description....................Debt......Monthly...APR
<br />Bank of Scotland ..............8500......172.......0
<br />First Direct...................2000......22........0
<br />MS.............................3500......78........0
<br />private loan - family..........10800.....0.........0
<br />Business Over draft............12000.....0.........0
<br />Overdraft......................2500......0.........0
<br />Caravan........................7500......220.......0<b>
<br />Total unsecured debts..........46800.....492.......- </b>

<b><br /><br />Monthly Budget Summary</b>
<br />Total monthly income.................... 2,100
<br />Expenses (including secure debts)....... 1,783
<br />Available for debt repayments........... 317
<br />Monthly UNsecured debt repayments....... 492<b>
<br />Surplus(deficit if negative)............ -175</b>

<b><br /><br />Personal Balance Sheet Summary</b>
<br />Total assets (things you own)........... 206,000
<br />Total Secured debt...................... -72,000
<br />Total Unsecured debt.................... -46,800<b>
<br />Personal net worth...................... 87,200</b>

<i><br /><br />Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on The Motley Fool DWD Board with permission.</i></pre>

<br /><br />======== Enter any other useful information below ======== Okay here it is guys - the dirty linen!!!!In my defence your honour I must point out that things have gone downhill rapdily. I am self employed and coping. I have had a poor six months (Benn trading 10 years) and its amazing how these things quickly escalate. BE WARNED!!We dont go out, our only enjoyment is our caravan (tourer) which hasnt been used much due to cut backs. I really dont wnat it to go - I know someone will tell me to. I work long hours and work hard have done for 30 years. I dont shirk andhave never claimed benefits in my life. I have started a new business which has taken cash I havent got and it is starting to pick up. The trouble is the debt saps your power. I will not give in!! It could be this second business could be my saviourI have learned to watch expenses. Last point is the endowment - been running for 21 years in June for £36k I pay about £47 a month- told its worth about 13k less than promised.It is with Standard Life. Not sure of bonuses, think it was with profits (Sound like I know what I am typing - not a clue)alos second endowment been running about 15 years for about £27 a month. to cover £10500 - for some reason this is on target.So there you have it. I did explain to the birds in the garden this morning they will only get fed on alternate days. To save petrol my daughter will have to walk to school... Its only 11 miles after all!!!!!I commend my finances to your souls

depressed_of_lincolnshire

I also type badly and to conserve power I will not use speel chequer

Willsnarf1983

Lincolnshire is the 5th poorest place to live in but i'm proud to be a yellow belly!!!!

Nothing else really to contribute sorry but just remember its never as bad as u may think and the only way is forwards whether its 1p at a time or £100 a time

Will

Clariman

Hi there

Well done for posting your SOA. However you've used the wrong format button when preparing it for posting here. It's not the end of the world , but you've use the format for the "Motley Fool" rather than format for "MSE" button so it has all the wrong tags in it. If you have saved it, it might be worth reformatting and posting. As I said, it's not the end of the world - the main thing is that you have done the work to put it together and to post it here.

Clariman

angchris

hiya well done for doing your soa, your road tax surely can`t be £300 a month :eek: this must be a typo or have you got a fleet of cars on the road

SWMBO

Maybe the fleet of cars is what's caused the sudden shift.....all he needs now is the ability to drive 5 cars at once as taxis and even my good lady can't do that!

Seriously.

Well done for the SOA...what are the interest rates on the debts?

You put down £100 in benefits...are you getting Tax Credits to supplement your income as you could be surprised what you're entitled to - especially if your income has dipped...look at every little aspect being the difference between staying afloat/ possibly keeping the tourer...

You've got plenty to work with here though...just make sure you've got money aside for the taxman when it's due cos they have been known to undo plenty of best-laid plans....