In Debt what to do?

skeating86

Hi All,

Not a regular, but have come on here for some serious HELP and want to really get out of debt. My debts add up to a serious amount and need advice PLEASE. I am in so much debt i cant pay it all unless i go without gas for a week or shorten my food shopping.

I will list most of the debts that i have to hand but a lot of them have been misplaced and moved address and i cannot find them to contact them to arrange payment.

A rough figure my debt is £24818.00

All Below are monthly

Money Coming In

Income Support - £371.20
Tax Credit - £184.28
Child Benefits - £72.40

Money Going Out

TV License - £18.00 (No Arrears) (Mine)
Regal Credit (Debt Collection Agency) - £5.00 (Arrears £2995.05) (Mine)
Rent Arrears - £5.00 (Arrears £107.28) (Mine)
Robinson, Way & Company Limited (Debt Collection Agency) - £5.00 (Arrears £99.00) (Mine)
NCO (Debt Collection Agency) - £5.00 (Arrears £2500.91) (Rough Figure) (My Partners)
Intrum Justitia (Debt Collection Agency) - £5.00 Arrears £252.38) (Mine)
Intrum Justitia (Debt Collection Agency) - £5.00 (Arrears £207.00) (My Partners)
DLC (Debt Collection Agency) - £5.00 (Arrears £123.15) (Mine)
The Moorcroft Group (Debt Collection Agency) - £5.00 (Arrears £2970.12) (My Partners & Mine)
Rent Arrears - £750.89 (Arrears £750.89) (My Partners)
Howard Cohen & Co Solicitors (Debt Collection Agency) £10.00 (CCJ) (Arrears £8669.44) (Mine)
S. R. J. Debt Recoveries (Debt Collection Agency) - £5.00 (Arrears £149.12) (Mine) (Mine)
Council Tax - £7.00 1 Month In Arrears (Arrears £150.00) (My Partners)
Council Tax - £8.00 1 Month In Arrears (Arrears £194.00) (My Partners)
Lloyds TSB - £10.00 (Arrears £2461.38) (Mine)
Profident Personnal Credit - £240.00 (Two Account My Partners £1082 & Mine £1057)
Capital One (Visa Credit Card) - £10.00 (Arrears £209.78) (Credit Limit £200.00) (34.9 APR) (My Partners)
Capital One (Visa Credit card) - £5.00 (Arrears £99.72) (Credit Limit £100.00) (34.9 APR) (Mine)
Additions Direct - £0.00 (Arrears £789.45 ) (Credit Limit Removed due to non payments) (Mine)
Sky - £29.00 (No Arrears) (Mine)
BT - £15.00 (No Arrears) (Mine)
Mobile Phone - £15.00 (No Arrears) (Mine)
Electric - £40.00 (No Arrears)
Gas - £60.00 (No Arrears)
Buy As You View - £44.50 (No Arrears) (My Partners)
Kids Tuck Money - £4.00 (No Arrears) (Mine)
Park (Xmas Savings Club) - £40.00 (No Arrears) (My Partners & Mine)


Thank You

Simon

skeating86

Hi

Buy As You View is where you rent a TV and pay for it the problem is my partner has other stuff on credit such as tumble dryer and yesterday bunk beds for the baby and when out niece and nephew sleep over they can be returned but will be sold second hand and what ever the balance is after sale will have to be paid by us

Thank You

~Beanie~

skeating86 wrote: »

Hi All,

Not a regular, but have come on here for some serious HELP and want to really get out of debt. My debts add up to a serious amount and need advice PLEASE. I am in so much debt i cant pay it all unless i go without gas for a week or shorten my food shopping.

I will list most of the debts that i have to hand but a lot of them have been misplaced and moved address and i cannot find them to contact them to arrange payment.

A rough figure my debt is £24818.00

All Below are monthly

Money Coming In

Income Support - £371.20
Tax Credit - £184.28
Child Benefits - £72.40

Money Going Out

TV License - £18.00 (No Arrears) (Mine) - Surely it should only be c£11.25 per month
Regal Credit (Debt Collection Agency) - £5.00 (Arrears £2995.05) (Mine)
Rent Arrears - £5.00 (Arrears £107.28) (Mine)
Robinson, Way & Company Limited (Debt Collection Agency) - £5.00 (Arrears £99.00) (Mine)
NCO (Debt Collection Agency) - £5.00 (Arrears £2500.91) (Rough Figure) (My Partners)
Intrum Justitia (Debt Collection Agency) - £5.00 Arrears £252.38) (Mine)
Intrum Justitia (Debt Collection Agency) - £5.00 (Arrears £207.00) (My Partners)
DLC (Debt Collection Agency) - £5.00 (Arrears £123.15) (Mine)
The Moorcroft Group (Debt Collection Agency) - £5.00 (Arrears £2970.12) (My Partners & Mine)
Rent Arrears - £750.89 (Arrears £750.89) (My Partners)
Howard Cohen & Co Solicitors (Debt Collection Agency) £10.00 (CCJ) (Arrears £8669.44) (Mine)
S. R. J. Debt Recoveries (Debt Collection Agency) - £5.00 (Arrears £149.12) (Mine) (Mine)
Council Tax - £7.00 1 Month In Arrears (Arrears £150.00) (My Partners)
Council Tax - £8.00 1 Month In Arrears (Arrears £194.00) (My Partners)
Lloyds TSB - £10.00 (Arrears £2461.38) (Mine)
Profident Personnal Credit - £240.00 (Two Account My Partners £1082 & Mine £1057)
Capital One (Visa Credit Card) - £10.00 (Arrears £209.78) (Credit Limit £200.00) (34.9 APR) (My Partners)
Capital One (Visa Credit card) - £5.00 (Arrears £99.72) (Credit Limit £100.00) (34.9 APR) (Mine)
Additions Direct - £0.00 (Arrears £789.45 ) (Credit Limit Removed due to non payments) (Mine)
Sky - £29.00 (No Arrears) (Mine) - You can't afford this, get rid.
BT - £15.00 (No Arrears) (Mine)
Mobile Phone - £15.00 (No Arrears) (Mine)
Electric - £40.00 (No Arrears) - can you switch providers to get it cheaper?
Gas - £60.00 (No Arrears) - as above
Buy As You View - £44.50 (No Arrears) (My Partners) - what is this? You can't afford it
Kids Tuck Money - £4.00 (No Arrears) (Mine)
Park (Xmas Savings Club) - £40.00 (No Arrears) (My Partners & Mine)


Thank You

Simon

You need to post a FULL SOA. Where is your mortgage/rent, food, car expenses, clothing etc? I assume that the council tax figures are just the arrears, where is the true monthly cost? Do you really pay nothing to Additions Direct? Where arethe figures for the bunk beds and the tumble drier?

Why are your partners debts listed but there seems to be no income for your partner?

skeating86

Hi

My partners income is included in mine this is all we get

Income Support - £371.20
Tax Credit - £184.28
Child Benefits - £72.40

TV License - £18.00 (No Arrears) (Mine) - Surely it should only be £11.25 per month - Thats what TV License have told me to pay

Sky - £29.00 (No Arrears) (Mine) - You can't afford this, get rid. - Im in a contract so if i finish it i will have to pay the 12 months anyway.

Buy As You View - £44.50 (No Arrears) (My Partners) - what is this? You can't afford it - My partner has to pay it for three years but she can getr rid of this but buy as you view will sell it second hand and then a balance will still be due.

Electric - £40.00 (No Arrears) - can you switch providers to get it cheaper?
Gas - £60.00 (No Arrears) - as above - I have not looked at this but i will take a look.


My rent gets paid by my local council (Council Tax benefits £56.00 and rent benefits (£260.00) the council tax and rent arrears are arrears in my partners old property before we moved in together

Food a month is £100

Clothing we keep to a minumum (soz can't spell) But between £15.00 - £25.00 for three people

The Bunk beds and the tumble dryer are included with buy as you view which her rough current balance is £1500.00

And i dont pay anything to additions currently im waiting for them to stop the charges and interest

Thanks

Simon

skeating86

Hi

I will take a look but the problem i have is when i try to discuss our problems with my partner tell me were fine and we can handle it and it will all be paid of in a few years

Thanks

Simon

Bismarck

hi Simon.

well done for posting it takes guts and is the first step.

however, you've had your lightbulb moment but your partner really doesn't get it or they've a load of cash you don't know about.

HOW is this gong to be sorted? These guys chasing you don't give up. You can see it isn't pretty but your partner has a magic way out.

Tell you partner straight....look...it's really bad and not going to go away....we need help before it's all out of our control.

Sorry but you have to do this.

Good luck.

skeating86

My partner thinks that its all ok because we are making payments to most people but payments are being late for eg. if something comes up like my partner needing new glasses she gets them because she needs them.

I want the problem sorted i suggested an IVA but she aint having any of that becuase it will affect her credit report i said its allready damaged you aint going to get anything on credit with so much debt and she feels that if she can keep with the payments on tthe loans we both have with Profident she thinks that we can get more loans and i suggested that we make minimum payment to them and save with credit union for a while and get a loan with them as there interes is a few pound compared to Profident but she aint having that and we tried an IVA before but she didnt want me to include profident and buy as you view because she wont be able to get anything on credit and i said well if we clear everything then we can start a clean slate

thank you Bismarck

Thanks

Simon

Pinkylouloubell

I think you need to have a word with your G/F or youll both end up in SERIOUS financial trouble

i know how hard it is to live off of income support with kiddies, I did it myself for 3 years and had various catalogues/storecards on the go, which were really the only way for me to afford new stuff.
and they are perfectlly happy to let you do this as long as you pay and tempt you with pointless free gifts.

Can either of you possibly get some paid work to try and boost your income??

I would defo suggest either Payplan/cccs, its rated quite highly in here.
Re IVA, I am in the process of applying for one myself, but you have to declare EVERY unsecured debt to them, not just the ones you want to pick and choose, and then agree to this for 5 years, with no credit at all or you break the conditions of the IVA.
That is really scary to me, but has to be done or Ill never get out of this mess.
I work part time now and my partner is full time and we are gonna have to hugely reduce our outgoings.

Good Luck,
Pinky

Sue-UU

Hi Simon and welcome to the Forum.

You've made a great start to getting things sorted out, but it's such a shame your partner seems to burying her head in the sand. One thing's for sure she can't keep on doing so or you'll be in dire straits.

It may be a rude question but is there any likelihood of you getting work so that you can start to increase your income a good deal?

Sue

Bismarck

"I want the problem sorted i suggested an IVA but she aint having any of that becuase it will affect her credit report i said its allready damaged you aint going to get anything on credit with so much debt and she feels that if she can keep with the payments on tthe loans we both have with Profident she thinks that we can get more loans and i suggested that we make minimum payment to them and save with credit union for a while and get a loan with them as there interes is a few pound compared to Profident but she aint having that and we tried an IVA before but she didnt want me to include profident and buy as you view because she wont be able to get anything on credit and i said well if we clear everything then we can start a clean slate"

Between the lines, she wants a lifestyle you can't afford together and is making up the difference by borrowing more. This is not sustainable and you threatening to cut off her credit supply is threatening her comfort/lifestyle. The credit merry-go-round will stop soon - one way or another....creditors stop when they feel like it or if you do something which triggers something in their complex behaviour tracker devices...even something as simple as withdrawing cash on a credit card.

You can see the storm coming...you can either deal with this together or you're both in trouble in more ways than one.

Bismarck

P.s.

You sound like a great guy trying to do the right thing...I hope you get something sorted.