Rambling on...

edited 21 April 2017 at 9:04PM in Debt Free Diaries
2K replies 131.7K views
UncannyScotUncannyScot Forumite
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edited 21 April 2017 at 9:04PM in Debt Free Diaries
Where do I begin? This is hard...
OK, I'll begin with my SOA:

Household Info
Number of adults - 1
Number of children - 0 (they are with their Mum)
Number of cars - 0

Monthly Income
After tax - 2104
Benefits - 0
Other Income - 0
Total Monthly Income - 2104

Monthly Expenses
Rent - 295
Council Tax - 80
Elec - 30
Gas - 30
Home Phone/TV and Broadband - 45
Mobile - 12
TV Licence - 13
Shopping - 170
Clothes/Shoes - 30
Childcare/nursery - 500
Other Child related expenses - 500
Haircuts/Shaving - 10
Entertainment - 20
Emergency Fund - 15
Total - 1750

Assets

Cash - 0
House value - 0 (N/A)
Shares/Bonds - 0 (N/A)
Car - 0
Other Assets - 0
Total - 0

Secured/HP Debt
Mortgage - 38500
Secured Debt - 19500
Total - 58000

UnSecured Debts
Loans/Short Term/Payday - 6060
Credit Cards - 1450
Old Mobile Account - 330
Total - 7840

Monthly Budget Summary
Total Income - 2104
Expenses - 1750
Available for debt repayments - 354

Personal Balance Sheet Summary
Total Assets - 0
Total Secured Debt; -58000
Total Unsecured Debt; -7840
Net Assets; -65840
there may be a few wee errors here as I had to type it all out as it wouldn't let me paste it in...

As you can see, it's BAD... How did it get so bad?
When I left home and got my home of me own I thought I was doing great. Single lad, I had a good job, good income, social life etc.
I had the mortgage with the bank, credit card with the bank, then a loan for my first car...then other loans... and so it began to build up.
After a while I managed to clear the loans and the cards and was able to keep myself in the black.
Eventually, I met a nice lassie, we got married, had kids and started to build up debts again... Loans for holidays, cars, furniture etc. Used Credit cards and the bank overdraft for emergencies... we thought we were doing alright.

I rented out my old pad, the rent covered the mortgage.
Then out of the blue I lost my job...
I lost the the old place cos my tenant moved out, got married and set up on her own. I couldn't get another tenant who stayed long enough and paid the rent to keep it going... I lost it... repossessed.

My marriage fell apart, I left my family and the family home... had a total meltdown/breakdown.
I ended up homeless, going from friend to friend, whoever would put me up for a bit, let me have somewhere to sleep.
This went on for a few years, until I was fortunate enough to land another job. The friend I was staying with encouraged me to apply for a flat with the local council and eventually I got one.

I began to get back on my feet again, furnishing my wee place with second-hand furniture and other basic household items from the local charity shops. I don't have anything much (the old laptop I'm using is held together with duct tape and is veerrrryyyy sllloooooow...).

Now, i am being chased for my debts, it's time to face up to the mess that I have made of my life and wipe out the debt and become and stay debt free....
BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
R.I.P. T.P.
«134567202

Replies

  • If you have no assets then you don't have to worry as much. I would get your life in order, but what you need for a healthy being, talk to a debt charity to discuss your options.

    So do you actually own a property now?

    Are you in contact with your kids?
  • edited 21 April 2017 at 9:20PM
    UncannyScotUncannyScot Forumite
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    edited 21 April 2017 at 9:20PM
    Quick update...
    Have a consultancy booked with local CAB for the 15th May, worried but this needs to be tackled and quickly.
    Will be getting a new basic bank account too ASAP. Current bank is OK and i have no debts with them at all but I have been advised (not by them, by a good friend) to get another account.

    I am a council tenant...
    unfortunately, no I do not have contact with my kids but I do my best to provide for them
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
  • Todays' to-dos';
    Pop into town and enquire / apply for new basic bank account...
    Saturday housework...
    Relax and read... onto book 3 of Tad Williams' Otherland series
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
  • Been reading through some other folks' diaries and it is sad to read of some situations that folks have found themselves in but it it is also inspiring to read their success stories too, of how they were able to get back.

    I hope folks don't think I'm just being nosey...
    I suppose they won't mind, particularly if I post a comment or thank them for an inspiration etc.

    Ok, must go, things to do...
    Will be back later to update....
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
  • UncannyScotUncannyScot Forumite
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    Update;

    OK - Basic bank account applied for, should be up and running with 10 working days....

    GOOD Charity Shop finds - A much loved, much read paperback copy of The Light Fantastic for 50p :D
    AND a Collectors' edition DVD boxset of the first season of ROME for £3 :D

    If anyone is reading my ramblings please, please. check out charity shops for anything you need.
    Charities like Shelter (saved my life...), the British Heart Foundation, Cancer Research, local Hospice shops etc.
    I furnished my home from these kind of places and I still make a habit of popping in to browse, mostly for books or DVDs (which I usually read/watch and them donate back...)

    Time now for a cuppa and some reading... (OK noseying at other folks posts ;D )
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
  • phizzimumphizzimum Forumite
    1.7K Posts
    Hi Uncanny Scot

    I'm a big fan of charity shops too. Now you've discovered them you won't be tempted to get in debt to buy furniture etc. And charity shops will help you keep the entertainment and clothing spends on your SOA nice and low.

    Two questions

    Do you still owe on the mortgage if the house was repossessed?

    What are the interest rates for your debts? Have you asked that interest be frozen in the payday loans?

    All the best and keep rambling
    weaving through the chaos...
  • UncannyScotUncannyScot Forumite
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    Hi phizzimum

    The mortgage situation is a grey area to me at the moment (the house was repossessed and then sold at a loss by the bank) I was homeless and not in the best of minds and places at the time this happened. I heard nothing more about it until recently when I received a letter from a firm claiming to be acting on the banks behalf, however they had the wrong account numbers and references???
    A friend has suggested that they are therefore "fishing" and not to acknowledge them... however I am concerned about this and although I have not acknowledged it I will be discussing it at my meeting with the local CAB advisor...

    I have informed creditors that they won't be getting anything until I've a better idea of what's happening and that I am seeking financial advice and will be in touch. Will be sorting a moritarium (sp?) to help ensure that they give me the space and time to sort out the best solution...

    I am trying to stay positive and I will continue to Ramble On ....thanks :D
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
  • Toni'sfriendToni'sfriend Forumite
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    Just want to pop in to give you some support. A lot of year's ago I found myself in a not dissimilar situation. My husband left me with massive debts and a child to look after (with no support from him). I lost my home. my Mother took me in and I was allocated a small council flat. I'm still there because I have such wonderful. supportive neighbours. I had a lovely friend who is now my partner and he helped me emotionally through the bad times and my son financially through University. We now have a good life together. We are retired, live fairly modestly but have lots of little (and some big) holidays). We are now doing the things that we always want to to do. The CAB were terrific at showing me the way to go. It took a long time but I got there. I think what I'm trying to say is keep at it and stay positive.It will come right eventually. One thing I would like to ask (if I'm not being too nosy) is why don't you have contact with your children. I had major issues with my son's father but he was still his father and I never at any point said a negative word about him (although on many occasions I had to bite my tongue). Circumstances are all different, though. I'd like to wish you all the best. You seem to be getting things together now. Good luck.
    Have adventures. laugh a lot and always be kind.
  • UncannyScotUncannyScot Forumite
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    Hi Toni'sfriend,

    thanks for your support...

    I'm not in contact due to the distance between us and I don't have a car (I do have my licence though) and cannot see at the moment how I could possibly afford one, that and I that I was "not there" for quite some time... Maybe, someday... maybe...

    I'm just trying to make sure that I can and that I am supporting them as best I can...
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
  • UncannyScotUncannyScot Forumite
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    Fifth Anniversary 1,000 Posts Photogenic
    Quick Update
    Just received an e-mail that I have been accepted for new basic bank account... that was quick!
    One more step forward...
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
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