Scared to death

mark55man

bump - round about 10pm posts are off the first screen in a minute. Think Homegrown could do with some support from you knowledgable MSEs

Ephemera

All the best Homegrown, there's loads of support on here and if you can't afford to go out (like me) then this can be a useful social outpost too!

We're with you....all the way.

churchrat

hi homegrown
you are already doing all the right stuff, the only bit of advice I have is about the phone calls. You do not have to speak to them on the phone. If you have caller id just ignore them, if you have a land line you can get their numbres barred from your phone. You may like to take one more call from each company and tell them that you will, from now on, only deal with them in writing. They are always (a little, more polite in writing) and sometimes on the phone they attempt tactics they would never use ina letter because they are illegal and come under "harrasment". If you do speak to them again after you have told them you will only deal in writing, just keep repeating "I only deal in writing" to whatever they say to you. DO NOT agree to anything over the phone. Once you have aplan in place with CCCS it all gets much less scary.
Just like to add that just about everyone on here can identify with the stomach-churning, bowel ripping, night mare inducing hell that comes with debt, and, just believe me, there is a way out.
keep posting
cr

smashedbooboo

Right ok, now come on. Lets be having you. Get yourself into gear honey and post if you can. Let us know you are ok. There are lots of peeps that can help and give you support. And that goes for all the new people that have posted recently. We worry when you dont post after asking for help. You will not be judged. So get your !!! into gear and let us know how you are.

Homegrown_Idiot

Sorry it's taken longer than I thought to fill out that form. CCCS sent me a booklet based on my answers to their questions and told me my options were: Bankruptcy :eek: or Low Start Debt Management Plan (which they say will take 14 years to pay off:eek:). Oh dear!

Well, here's the info, hope it helps because I am (an RAF saying coming here...) ... bricking it!


Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1800
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1800

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 600
Management charge (leasehold flat)...... 0
Council tax............................. 100
Electricity............................. 30
Gas..................................... 40
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 38
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 21
Internet Services....................... 0
Groceries etc. ......................... 160
Clothing................................ 20
Petrol/diesel........................... 300
Road tax................................ 16
Car Insurance........................... 26
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 10
Buildings insurance..................... 0
Contents insurance...................... 18
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1458

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................3000......180.......0
Credit Card....................7600......300.......0
Credit Card....................2000......70........0
Credit Card....................5500......200.......0
Credit Card....................1400......30........0
Loan...........................14000.....267.......0
Credit Card....................1900......48........0
Credit Card....................2000......95........0
Total unsecured debts..........37400.....1190......-

Monthly Budget Summary
Total monthly income.................... 1,800
Expenses (including secure debts)....... 1,458
Available for debt repayments........... 342
Monthly UNsecured debt repayments....... 1,190
Surplus(deficit if negative)............ -848

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total Secured debt...................... -0
Total Unsecured debt.................... -37,400
Personal net worth...................... -36,900

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

£37,400 debt!:eek: Stupidly, I don't know what the APR is on the cards either

Homegrown_Idiot

Well it doesn't rain but it pours!

I have just found out that I need 2 new tyres for my car at a cost of £98 before tax! AND the electricity company has stuck a £15 per WEEK charge on my electricity pre-pay (card) meter because the previous user owed them! Why do I have to pay it back?

Not happy at all

Homegrown_Idiot

Oh god, and I've just remembered it's MOT and car tax time in June:eek:

bandraoi

Some questions:

How did these debts arise?
Is your (ex) wife responsible for some or all of them?
Is there a house to be sold?
What is the financial situation there?

Does your job involve driving around alot or is the £300 just because you live so far away?
How long is left on your rental contract?

compulsivespender79

Hey Homegrown,
It's good to have you back! Some of us were getting a bit worried there!
First off - the electricity thing stinks! How did they notify you of the increase; letter/phone etc? My first move would be to call them to try and get to the bottom of it. If you don't get a resolution by the end of the conversation ask the person on the other end for their complaints procedure, and then use it. Something tells me there's something else going on here, and you need to get to the bottom of it. If it works out ok ask to be put on a normal meter. Pre-pay ones are notoriously expensive - make sure you arrange to pay by DD too, utilities companies are renowned for penalising those who choose to not pay by DD.
As for the SOA, hmm

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 600
Management charge (leasehold flat)...... 0
Council tax............................. 100
Electricity............................. 30
Gas..................................... 40
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 38
This seems incredibly expensive - what's included?
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 21
Ditch this as soon as you are contractually able.
Internet Services....................... 0
Groceries etc. ......................... 160
This is a lot for one person - When I was single I could live on half that!
Clothing................................ 20
Petrol/diesel........................... 300
Is this for work?
Road tax................................ 16
Car Insurance........................... 26
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 10
Buildings insurance..................... 0
Contents insurance...................... 18
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1458

I've added my thoughts in red - it may seem a bit harsh to pick it apart, but it's difficult for us to understand what lies behind some costs.

Is a Low Start DMP where you pay token payments for a while? If so then I'd say go with that for a while. Bankrupcy is a huge step - and you have to pay for it (how ironic). I'd also start doing it NOW!! Next time your payments are due send your creditors token payments (£1, £5, whatever you can afford) with a letter explaining your situation, and enclose a copy of your I&E. They won't like it, but that's tough. Being in debt is not a crime, as much as they might like you to feel it is.
Be prepared - they will throw an awful lot of hollow threats at you. The worst they can do is apply for a CCJ, but judges normally side with the debtor as long as they are seen to be responsible (ie. on a DMP).
However, all of the above is just my humble opinion. Others may disagree - I do hope not, my hands ache from all this typing, and it would be such a shame for it to be wasted!
Keep posting, and keep asking - there are an awful lot of very knowledgeable people on this forum.

Good luck (but you don't need it!)

CSx

Homegrown_Idiot

bandraoi wrote: »

Some questions:

How did these debts arise?
Is your (ex) wife responsible for some or all of them?
Is there a house to be sold?
What is the financial situation there?

Does your job involve driving around alot or is the £300 just because you live so far away?
How long is left on your rental contract?

Hello,
The debts arose because, when I split from my ex-wife, I took over our joint debts and (stupidly I know now) used credit cards to pay for them. She wasn't working and I was, and I was trying to be the 'good egg' - again, I know this was stupid. We were separated for a number of years and in those years she ran up more debt which I added to my own to stop her being awkward about the divorce and give up her claim on my RAF pension. Unfortunately for me the pension doesn't kick in until I'm 60 so now I wish I hadn't bothered.
There is no house to be sold.
The petrol bill is so high because I live in Essex but work in London. At the start of last year when I moved here it wasn't a problem, but as the petrol prices have rocketed and seem to go up every week, it now is. The cost of the petrol is purely for getting to and from work - I've looked into alternative transport (trains), but not only is it more expensive but as I start work very early in the morning (4am usually) there are no trains available anyway.
I can't afford to live any nearer where I work as the closer you get to London the more extortionate the rental prices become. Plus of course if I did by some miracle find a place nearer to London, the fact that I'm on a DMP would go against me when renting wouldn't it? I know that when I first rented a house they did a credit check on me (I was ok for credit then).
I don't have a rental contract as I rent from a friend, so I need no notice (but then again, where would I rent anywhere cheaper).

compulsivespender79 wrote:

I've added my thoughts in red - it may seem a bit harsh to pick it apart, but it's difficult for us to understand what lies behind some costs.

Not at all, if anyone can see where I can save money it's more than welcome.
The telephone IS expensive (it includes the Broadband that I need for work) and I'm looking at changing it to a cheaper one.
I'm still in a contract with Sky until the end of the year, at which point I will be ditching it.
The comment about the price of groceries could well be right - to be honest I guessed there.