Going under and annoyed my first thread disappered!

bogged_down_with_£

Hello,
Having just completed a rather full and detailed thread explaining my debt problems, I shall now attempt to in a shorter version.

I am in debt up to £42,500 and I have a salary of £29,427. I'm a professional and this problem is beginning to affect my work. I can't afford payments, even though as yet i am still juggling credit cards payments.

i aquired £20k + debt from break down of my 12 year relationship with my fiance. We used to juggle 0% cards to stay afloat but unfortunately I was landed with the majority on my cards when we spilt. it wasn't amicable and I left with nothing- no money, no assets; just debt.

I have tried to sort things for myself including a consolidation loan from the bank but it's all gone wrong. I have a car on HP. I need it for work. I live with my new boyfriend and my two dogs. I own nothing except for the dogs and my clothes. i have no assets.

My boyfriend has furnished the house with second hand furniture. He has assets in the form of electrical goods but they have nothing to do with me. Can he be affected if I have to go through IVA or bankcruptcy?

I will seek advice after the bank holiday from the CAB, but until that point- any advice? I've done lots of reading about IVA's and bancruptcy. I'm not sure what to believe or not as the case may be!?

Thanks in advance x:eek:

red_bertie

Hi Bogged and welcome

Think the DFW experts will ask for your SOA, so they can give it the once over.

This is not a productive time of the day for getting posts answered, but don't give up, be patient and they will get to it eventually and answer any q's you may have. They are a good, helpful bunch and try not to let anyone slip through.

I'll give you a bump around tea time if need be!

Don't know what happened to your initial post . This is showing as your 1st one.

RB

tallyhoh

I think your first step should be posting an SOA (income + expenditure-see top of page). It would help the people on here to point you in the right direction, they could also advise on cutting costs.:D

red_bertie

Here you go:

SOA (Statement of Affairs) Calculator
Click here..

HTH.

RB

Miss_Marple_2

Hi - And welcome to the board. Listen to the others as far as the SOA is concerned, they always come up with great advice, but I'd just like to say that I had higher debt than yours & around the same salary, and as soon as I had contacted Payplan and got their advice, it has been fanatstic - I wish I had done it earlier.

I am on a DMP with them, so the options are not just IVA or bankruptcy.

chevalier

One thing I would say you could do over the weekend, is to check the terms and conditions of your job, as some types of employment specifically ban you from doing an IVA or going bankrupt. So a DMP may be your only option.

Whilst I understand that your new OH has done all he can what with furnishing the home etc, I would want him to check that all the bills for utilities are as small as they can be, so that your share of them is as small as possible. All frees up more for the debt repayments.

chev

hypno06

Hi there - have a word with CCCS or one of the other debt charities - they are very very helpful and will give you your options. If you have a look at the "problem debts" tab at the top of this page (ish) it will give you all the contact details, or some people have them as links in their signatures.

You can also go onto the CCCS website online and do their "debt remedy" thing which gives you an idea of the amount you can pay to each creditor and how long it will take to clear etc.

These people are free, so won't try and push you into doing anything that is not appropriate.

red_bertie

Back to give you that promised bump :beer: ...........

RB

Lorne

Welcome to the boards, I would definitely agree with the previous posters, don't make any debt related decisions until you have sorted out your SOA, gives you a clearer picture of where your money is going and definitely helps in focusing to manage it better.

Good luck

bogged_down_with_£

Thank you for your replies. I will look carefully at the SOA recommended.
Will be back to you shortly. My mind is swimming with numbers. My current OH earns much less than my old partner. He is very supportive emotionally but can do very little else with lack of finances and experience in any of these matters. My old partner was the money guru. He clearly did such a good job of handling the money that I ended up with the majority. I'll be back soon x

ANGSTDATA

HANG IN THERE ! - if anyone can help these guys will ! - not sure about the most productive time of day thouogh ?!