Advice needed

pleasehelpmebedebtfree

Hi All,
I have read this site on many occasions, but now i feel that i desperately need help and who better to advise me than you guys.

Basically, in a nut shell, i have struggled with debt for many years. I am a homeowner with my fiance and am really feeling the strain.

I have a £6,000 Alliance and Leicester loan which has been passed to creditors and i cannot afford the monthly repayment, a capital one credit card (£3000) which has also been passed to creditors and me and my fiance also have a £16,000 secured loan, which we manage to pay each month as it is a priority debt along with the mortgage etc.

I just don't know what to do, i have spoken to the creditors and advised them that what they require me to pay them each month, i just physically cannot afford. I am so behind with my payments that i am making myself ill through it.

I know i am not the only person in the world to ever be in debt, but i just don't know where to turn next. I'm scared about coming home from work each night just in case baillifs are waiting outside the house.

I am also in arrears with some utility bills and they are also threatening action. It's not that i don't want to pay up, i just can't do it and i also know that i got myself into this mess and need to get myself out.

Any advice would be greatly received.

Yours,
pleasehelpmebedebtfree xxxxx:eek:

sparky0107

pleasehelpmebedebtfree wrote: »

Hi All,
I have read this site on many occasions, but now i feel that i desperately need help and who better to advise me than you guys.

Basically, in a nut shell, i have struggled with debt for many years. I am a homeowner with my fiance and am really feeling the strain.

I have a £6,000 Alliance and Leicester loan which has been passed to creditors and i cannot afford the monthly repayment, a capital one credit card (£3000) which has also been passed to creditors and me and my fiance also have a £16,000 secured loan, which we manage to pay each month as it is a priority debt along with the mortgage etc.

I just don't know what to do, i have spoken to the creditors and advised them that what they require me to pay them each month, i just physically cannot afford. I am so behind with my payments that i am making myself ill through it.

I know i am not the only person in the world to ever be in debt, but i just don't know where to turn next. I'm scared about coming home from work each night just in case baillifs are waiting outside the house.

I am also in arrears with some utility bills and they are also threatening action. It's not that i don't want to pay up, i just can't do it and i also know that i got myself into this mess and need to get myself out.

Any advice would be greatly received.

Yours,
pleasehelpmebedebtfree xxxxx:eek:

Hi PHMBDF
Firstly welcome to the forum, you need to put your SOA (Statement of Affairs) on here.

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

It needs to include all your incoming & outgoings, and also contact one of the debt charities like CCCS.

HTH

Tustastic

Hello there, so sorry to hear you are worried about your debts. You've come to exactly the right place; there are loads of 'experts' on this board who will give you support and advice because they too have or have had serious debts which they are sorting out.
Please take a deep breath, get a cup of tea and sit down and make notes of all your incomings and outgoings. That includes everything from the mortgage to the grocery shop and annual insurances. Look on your statements to see what interest rates you are paying and jot those down too.
This is called a Statement of Affairs (SOA).
This is a good template to use as it reminds you of everything you need to include;
http://www.makesenseofcards.com/soacalc.html
Look at http://www.cccs.co.uk/online-services/online-services.aspx too. CCCS is a debt charity. They will give you free, kind and non-judgemental advice, and you can fill out details online and request a telephone advice session. Please don't go near any company that wants to charge you for this service - there are many sharks out there sadly.
Good luck and do keep posting.

malestrom07

Above is some very very sound advice.

You can protect a large part of your income and account for your expenditure. Consider yourself single and as a lodger for a moment.
Account for half the mortgage and secured loan and half all bills as your expenditure.
If you are living as a lodger the landlord can charge you what they like and think on, if you lived alone it would cost a hell of a lot more! This approach will make sure that you can have as nuch money as possible to put to priorities and secured loan etc...... on behalf of your "Landlord".