Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • UncannyScot
    • By UncannyScot 21st Apr 17, 9:01 PM
    • 1,571Posts
    • 8,680Thanks
    UncannyScot
    Rambling on...
    • #1
    • 21st Apr 17, 9:01 PM
    Rambling on... 21st Apr 17 at 9:01 PM
    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....
    Last edited by UncannyScot; 21-04-2017 at 9:04 PM.
Page 78
    • Toni'sfriend
    • By Toni'sfriend 6th Aug 18, 7:26 PM
    • 1,507 Posts
    • 14,317 Thanks
    Toni'sfriend
    My boss had noticed my early starts and late finishes and told me that he didn't want any of his staff spending their own time on company matters. He is a great believer in maintaining a healthy work / life balance.
    That's a good place to be. Wish there were more people like him.
    • Purplemumof2
    • By Purplemumof2 7th Aug 18, 8:37 AM
    • 6,292 Posts
    • 23,199 Thanks
    Purplemumof2
    Morning Uncanny,

    That's fantastic that things are moving in the right direction work wise and that you've a great boss, wish all bosses were like yours.

    Glad you had a lovely break in the lakes.

    Have a great day xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £6060.00 Cap 1: £170.00 BC: £TBC

    POAMAYC 2018 #041 PD £6919.86/£7000
    Savings for Christmas £273.72/£400
    20p Savers 2018 £2 Savers 2018 50p Savers 2018 SPC 11 2018 #003
    • UncannyScot
    • By UncannyScot 9th Aug 18, 9:39 PM
    • 1,571 Posts
    • 8,680 Thanks
    UncannyScot
    Discharged.... but
    I'm a little confused this evening folks

    I've been discharged from Bankruptcy and have just received details / summary of the progress of my sequestration of which I have a further 3 years to go via a monthly Debt Contribution Order (DCO).

    The details of my debts as listed by the trustee / IP are different from those that I provided when I made my application, although I understand that as they investigated my case they may have found other debts which I had forgotten.

    Also, it appears that a lot of my creditors haven't even replied to the trustee regarding their claims and he has made specific requests to them in the report to respond. What happens in the event that they do not respond?

    Should I contact the trustee to ask what's going on or leave them to it?
    Sorry folks, having a bit of a wobble over this...
    Bestie and his missus advise letting the Trustee get on with it as they know what they're doing.
    GF advises same.
    When I ask the dug for her advice she licks my face, wags her tail and gives me a paw...

    They say that I wouldn't have been discharged if there were any problems and that I'm just fretting for nothing.
    So, good folks of the MSE Community, my DFW Sisters and Brothers, what do you all think?
    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.
    • beanielou
    • By beanielou 9th Aug 18, 10:24 PM
    • 56,138 Posts
    • 226,905 Thanks
    beanielou
    Leave it to the trusteees.
    They are the experts.
    Good news on your discharge.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • Eager_Elephant
    • By Eager_Elephant 10th Aug 18, 6:57 AM
    • 4,461 Posts
    • 25,795 Thanks
    Eager_Elephant
    The debt details will be different as a lot of the larger banks use Insolvency Companies to process the bankruptcies and deal with all the paperwork so the debt is then listed under the Insolvency Companies name and not your original creditor.

    The reason some haven't replied is either because the debts have been sold on and they cant be bothered to let either the OR know or the new company know.
    Some don't bother responding as in most bankruptcies they don't see anything back so why would they?

    If they do not respond they still get a share of the pot - I expect once they know there is a pot of money they would be more likely to engage with the OR as it would be with their time.

    So I will side with everyone else and just say 'leave it to the Trustee' and enjoy your new debt free life with a lovely lady'
    Ninja Saving Turtle No. 1 for August
    NSD - 5/15
    (up to 6/8/18)
    My Diary is here - http://forums.moneysavingexpert.com/showthread.php?t=2175629 (Eager Elephants Effective Everyday Excursion)
    • Purplemumof2
    • By Purplemumof2 10th Aug 18, 8:55 AM
    • 6,292 Posts
    • 23,199 Thanks
    Purplemumof2
    I don't know about bankruptcy I'm afraid but I agree with everyone else, let them deal with it.

    Good luck with your discharge x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £6060.00 Cap 1: £170.00 BC: £TBC

    POAMAYC 2018 #041 PD £6919.86/£7000
    Savings for Christmas £273.72/£400
    20p Savers 2018 £2 Savers 2018 50p Savers 2018 SPC 11 2018 #003
    • Toni'sfriend
    • By Toni'sfriend 10th Aug 18, 9:01 AM
    • 1,507 Posts
    • 14,317 Thanks
    Toni'sfriend
    I don't know anything about it either but I'd be inclined to let the Trustee get on with it. If there was a problem I'm sure the Trustee would have told you.
    • UncannyScot
    • By UncannyScot 10th Aug 18, 11:18 AM
    • 1,571 Posts
    • 8,680 Thanks
    UncannyScot
    Morning Folks

    Thanks for everyone's input, seems everyone agrees to let the trustee deal with it. Apparently it is very common for the trustee not to hear anything until later in the process (as EE suggests, once they know there is a pot of money to be shared out...)
    So, I am going to heed the advice and let the trustee get on with managing things.

    Have a lovely Friday and weekend everyone
    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.
    • UncannyScot
    • By UncannyScot 10th Aug 18, 2:43 PM
    • 1,571 Posts
    • 8,680 Thanks
    UncannyScot
    Quick wee update

    Trustee actually contacted me today to ask if I had received their summary report for this year...
    I therefore asked about the things that had been bothering me. Their reply, no need to worry, everything is in hand and it's not unusual for them to hear nothing from creditors. The DCO funds still get shared out once everything has been gathered in.
    So, you folks were right, nowt to be concerned about and the trustee is indeed good at their job
    Happy days
    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.
    • WannabeFree
    • By WannabeFree 10th Aug 18, 3:03 PM
    • 1,746 Posts
    • 15,122 Thanks
    WannabeFree
    Glad you spoke to them.

    Hope you have a lovely weekend

    x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.”
    • beanielou
    • By beanielou 10th Aug 18, 3:32 PM
    • 56,138 Posts
    • 226,905 Thanks
    beanielou
    Glad you spoke to them.

    Hope you have a lovely weekend

    x
    Originally posted by WannabeFree
    From me too.
    You can relax & enjoy
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • UncannyScot
    • By UncannyScot 11th Aug 18, 7:13 PM
    • 1,571 Posts
    • 8,680 Thanks
    UncannyScot
    Evening Folks

    Been a grand day today. Adventurising in the hills with GF and the wee mad furries, followed by a lovely pub lunch / dinner in a lovely proper beer garden.
    My wee furry was trying out a new harness today and I am so glad that it has calmed her from pulling like a train and choking on her collar. She walks great now and doesn't pull, more comfortable for both of us
    Hope awbiddy has had a good one today
    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'sfriend
    • By Toni'sfriend 12th Aug 18, 8:30 AM
    • 1,507 Posts
    • 14,317 Thanks
    Toni'sfriend
    I'm glad you have been reassured by the Trustee.
    Sounds like a lovely day yesterday.
    I am so pleased that everything is working out for you now.
    • UncannyScot
    • By UncannyScot 12th Aug 18, 5:26 PM
    • 1,571 Posts
    • 8,680 Thanks
    UncannyScot
    Failure to lunch (how NOT to do a lasagna)
    Hi Folks...

    I tried to do a lasagna for tea today... I thought the sheets had to be done like pasta an boiled to soften em prior to layering in dish
    Thankfully GF arrived early for tea and prevented it from being a total disaster

    We ended up having a nice kinda spagbol thingy...
    She called the Besties missus and told her about it too. Never hear the end of it now
    Shame* Shame* Shame*
    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.
    • Sun Addict
    • By Sun Addict 12th Aug 18, 5:39 PM
    • 5,983 Posts
    • 40,014 Thanks
    Sun Addict
    Best stick to brewing beer US

    Glad your mind was put at rest by the trustee
    Virtual Sealed Pot 2018 £376.59
    Debt £2240
    Weight loss 2/6LBS
    Emergency Fund £4000/£10,000
    • Toni'sfriend
    • By Toni'sfriend 12th Aug 18, 5:43 PM
    • 1,507 Posts
    • 14,317 Thanks
    Toni'sfriend
    I'm just impressed that you actually tried to make it. I think it used to be the case that lasagne sheets had to be softened first but not any more. And anyway so long as it tasted good it's not a problem.
    • beanielou
    • By beanielou 12th Aug 18, 8:30 PM
    • 56,138 Posts
    • 226,905 Thanks
    beanielou
    Hi Folks...

    I tried to do a lasagna for tea today... I thought the sheets had to be done like pasta an boiled to soften em prior to layering in dish
    Thankfully GF arrived early for tea and prevented it from being a total disaster

    We ended up having a nice kinda spagbol thingy...
    She called the Besties missus and told her about it too. Never hear the end of it now
    Shame* Shame* Shame*
    Originally posted by UncannyScot
    Sorry
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,107Posts Today

8,886Users online

Martin's Twitter
  • Ta ta... for now. This August, as I try and do every few yrs, I'm lucky enough to be taking a sabbatical. No work,? https://t.co/Xx4R3eLhFG

  • RT @lethalbrignull: @MartinSLewis I've been sitting here for a good while trying to decide my answer to this, feeling grateful for living i?

  • Early days but currently it's exactly 50 50 in liberality v democracy, with younger people more liberal, older more? https://t.co/YwJr4izuIj

  • Follow Martin