Debt curse

jo6

Am I not meant to they never stop ringing. Totally had enough

Poosmate

Hi Jo6

Please use the following link to do your SOA:-

http://www.makesenseofcards.com/soacalc.html

It's a daunting task but you need to do it. Nobody can really give you any real constructive advice specific to your circumstances until you do.

You sound so depressed at the moment, which is understandable, but once you post your SOA you will get so much more help and advice which is "you specific" rather than being general, you will soon start to feel so much more positive!

Good luck

Poo

jo6

thank you will do that in the morning.

10past6

jo6 wrote: »

Am I not meant to they never stop ringing. Totally had enough

Take a look at my signature

When you next receive a phone call fro a DCA / creditor, tell theM YOU WILL ONLY CORRESPOND IN WRITING, AND WRITING ONLY, THEN HANG UP!

Send the following letter To the Companies that are calling you,AND REMEMBER, never, ever, speak to them on the phone.

Your Address

DATE
Company Name

Dear Sirs

Harassment by telephone

Account Number: XXXXXXX

I am writing in relation to the quantity and frequency of telephone calls that I have received from your company, which I deem to be personally harassing.
I have verbally requested that these stop, but I am still receiving calls. (Delete if necessary)

I now require all further correspondence from your company to be made in writing only.

I am of the view that your continued harassment of me by telephone puts you in breach of Section 40 of the Administration of Justice Act 1970, and the Protection from Harassment Act 1997.

If you continue to harass me by telephone, you will also be in breach of the Communications Act (2003) s.127 and I will report you to OFCOM, Trading Standards and The Office of Fair Trading, meaning that you will be liable to a substantial fine.

Be advised that any further telephone calls from your company will be recorded. (**Even if you don‘t yet have recording equipment!!**)

I request confirmation that my telephone details have been removed from your databases.

Yours faithfully,

*Send the letter recorded delivery*

10past6

jo6 wrote: »

for the first time I have missed mortgage payments

Jo

I just noticed your comment

This is important, you must continue to pay your “Responsible Bills” i.e. mortgage / gas / electricity, water, community charge, all your other bills, i.e. debts, providing they are unsecured, make token payments on, i.e. £1.00 postal orders to each creditor.

You must keep up with your priority debts, this is extremely important.

Gillianh2

Jo

You have already had excellent advice and will have a whole lot more once your SOA is posted.:T

Wanted to send you a ))))))))))))))))))HUG((((((((((((((((((((((((((((((

Btw as your Bank have taken away your debit/credit cards (many of us have been there:D ). You might want to consider opening up a basic bank account whereby they give you an electron or solo card so at least you can pay somethings by debit card. These accounts are not normally credit scored as they do not offer an overdraft or chq book.

Off the top of my head the following banks all do a basic account:
Co-Op Cashminder accc electron card but beware 3 stirkes and out policy
Natwest Step account Solo card
Lloydstsb cash account visa card
RBS key account solo card
Halifax cardcash electron card
HSBC basic account think that only offers a cashpoint card

Good luck and try not to get too stressed you have taken a massive step forward so post you SOA tmwr and watch all the helpful advice follow.

Onwards and Upwards now:A

jo6

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 700
Partners monthly income after tax....... 1300
Benefits................................ 520
Other income............................ 0
Total monthly income.................... 2520

Monthly Expense Details
Mortgage................................ 506
Secured loan repayments................. 423
Rent.................................... 0
Management charge (leasehold flat)...... 0
Council tax............................. 40
Electricity............................. 75
Gas..................................... 0
Oil..................................... 20
Water rates............................. 0
Telephone (land line)................... 16
Mobile phone............................ 20
TV Licence.............................. 21
Satellite/Cable TV...................... 45
Internet Services....................... 12.99
Groceries etc. ......................... 750
Clothing................................ 20
Petrol/diesel........................... 30
Road tax................................ 12
Car Insurance........................... 28
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 12
Contents insurance...................... 12
Life assurance ......................... 42
Other insurance......................... 19
Presents (birthday, christmas etc)...... 20
Haircuts................................ 5
Entertainment........................... 20
Holiday................................. 20
Emergency fund.......................... 20
Total monthly expenses.................. 2218.99

Assets
Cash.................................... 0
House value (Gross)..................... 150000
Shares and bonds........................ 200
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 151700

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 83000....(506)......0
Secured Debt.................. 38000....(423)......0
Total secured debts........... 121000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
credit cards...................30000.....297.......0
Total unsecured debts..........30000.....297.......-

Monthly Budget Summary
Total monthly income.................... 2,520
Expenses (including secured debts)....... 2,218.99
Available for debt repayments........... 301.01
Monthly UNsecured debt repayments....... 297
Surplus(deficit if negative)............ 4.01

Personal Balance Sheet Summary
Total assets (things you own)........... 151,700
Total Secured debt...................... -121,000
Total Unsecured debt.................... -30,000
Personal net worth...................... 700

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


I hope I have filled this in properly think I have everything wrote down here.

I have 6 children 1 at uni and 2 serving there apprenticeship at plumbing. The other
3 are at primary school. The CAB say I have 297 left to pay off unsecured debt but is
there any way of getting rid of it quicker it just seems to follow you around and I
can't remember the last time I slept a whole night through. By the way I have canelled
sky but tied in another month.

RAS

Hi

First off to explain that there is an SOA as done by CAb or CCCs to ensure that you have enough money to live off b efore you start paying your debts and there is an SOA as done by MSers, designed to pare stuff to the bone so that you can reduce the debt.

The things that sand out above are your electric, life insrance and grocreies expenditure.

With the first two use the comparison sites linked from MSe and see if you can get them cheaper. Then use one of the cashback sites to get money for switching. Also check the car nsrance and see if paying this as a lump would be beneficial. If so, try to use the cashback money from the first two to pay the car insurance.

Head over to the Money Saving Old Stlye boards and see how to cut your spends dramatically. You should be able to find another £250 per month towards your debts, even if you stick this in an ISA and make an occasional top-up payment.

Finally, have you got stuff which could go on e-bay, amazon or to a car boot sale?

And with the two on apprenticeships, are they contributing to the househod in any way?

jo6

The 2 boys get about £40 pound a week training and they do help towards the groceries but eat them quicker than they get them and as I live in NI there is only 1 electric company the life insurance is only for my husband because he is self employed and it has critical illness cover. Where and what is the Money Saving Old Style Board?

RAS

here is the MOS forum link http://forums.moneysavingexpert.com/forumdisplay.html?f=33

Will be back with other comments in a mo.