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  • FIRST POST
    • lovesmakeup
    • By lovesmakeup 4th Mar 18, 2:08 PM
    • 13Posts
    • 11Thanks
    lovesmakeup
    Help Dire Straits
    • #1
    • 4th Mar 18, 2:08 PM
    Help Dire Straits 4th Mar 18 at 2:08 PM
    I'm going to try not to ramble and just give the facts.

    My dad died two years ago and I inherited enough money to put down a large deposit on a house. I had to take out a loan for 12k to cover the stamp duty as I didn't receive all the inheritance I thought I was going to receive.

    I have struggled really badly with depression since as the way he died was horrific and I had to leave my job (working with suicidal mental patients) because of it.

    Since getting my house 12 months ago I've managed to spend thousands. A friend tried to help me sort things out 6 months ago and she had to give up as I was basically still spending. In fact I spent another 5 grand.

    She's since realised what I've done so has sat down and explained that if I continue I could lose my house. She wasn't being dramatic, she showed me the financial state I was in.

    I need help. What do I do?

    All of our expenses are committed ones, like the mobile phones - do we default on them? Will this affect my remortgage in 12 months? I have a large personal spending allowance but it covers my fuel and anything I need including haircuts etc. Same for OH. If our personal spendings are too restrictive we're likely to blow all of our money.

    Our overdraft is at 3600 so with the help of our friend we've opened two new personal accounts with a different bank and then a joint account with another bank. We won't have access to the joint account for a while, she will so that we don't transfer money to our personal accounts. This is the reason we failed the first time as she gave us a budget of 200 each and then by the end of the month we'd taken 4 x that amount so we need not to have access. Our council tax has bounced every month for three months, my car payment has bounced for two months and they've served me with a default notice.

    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 2
    Number of children in household......... 0
    Number of cars owned.................... 2

    Monthly Income Details

    Monthly income after tax................ 2000
    Partners monthly income after tax....... 1340
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 3340


    Monthly Expense Details

    Mortgage................................ 767
    Secured/HP loan repayments.............. 530
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 143
    Electricity............................. 182
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 40
    Telephone (land line)................... 0
    Mobile phone............................ 160
    TV Licence.............................. 13
    Satellite/Cable TV...................... 35
    Internet Services....................... 0
    Groceries etc. ......................... 100
    Clothing................................ 0
    Petrol/diesel........................... 0
    Road tax................................ 31.93
    Car Insurance........................... 158
    Car maintenance (including MOT)......... 66
    Car parking............................. 30
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 101.75
    Pet insurance/vet bills................. 160
    Buildings insurance..................... 39.84
    Contents insurance...................... 0
    Life assurance ......................... 22.23
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 0
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0
    My expenses............................. 487.5
    OH expenses inc smoking, fuel etc....... 375
    RCN..................................... 30
    (Unnamed monthly expense)............... 0
    (Unnamed monthly expense)............... 0
    (Unnamed monthly expense)............... 0
    (Unnamed monthly expense)............... 0
    Total monthly expenses.................. 3472.25



    Assets

    Cash.................................... 0
    House value (Gross)..................... 290000
    Shares and bonds........................ 0
    Car(s).................................. 28000
    Other assets............................ 0
    Total Assets............................ 318000



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 191.25...(767)......1.34<
    Car............................8000.....(330)..... .0<
    Van............................12000....(200)..... .9
    Total secured & HP debts...... 20191.25..-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Lloyds Credit Card 0%..........1121.95...25........0
    Sainsburys Credit Car..........4900......160.......28.9
    Tesco Credit Card..............1837.86...25........0
    Lloyds Loan....................10426.....270.......10
    Lloyds Overdraft...............3600......150.......20
    Total unsecured debts..........21885.81..630.......-



    Monthly Budget Summary

    Total monthly income.................... 3,340
    Expenses (including HP & secured debts). 3,472.25
    Available for debt repayments........... -132.25
    Monthly UNsecured debt repayments....... 630
    Amount short for making debt repayments. -762.25


    Personal Balance Sheet Summary
    Total assets (things you own)........... 318,000
    Total HP & Secured debt................. -20,191.25
    Total Unsecured debt.................... -21,885.81
    Net Assets.............................. 275,922.94


    Last edited by lovesmakeup; 04-03-2018 at 2:24 PM. Reason: got my house value wrong
Page 1
    • BorisThomson
    • By BorisThomson 4th Mar 18, 2:13 PM
    • 1,586 Posts
    • 3,420 Thanks
    BorisThomson
    • #2
    • 4th Mar 18, 2:13 PM
    • #2
    • 4th Mar 18, 2:13 PM
    You need to give a breakdown of your and your OH's expenses. Fuel should be in the petrol column and so on.

    Your mobile expenses are ridiculous. Speak to the operator and explain your situation. If need be sell the phones to recoup some of the expense. You don't need an expensive phone.

    Only 100 a month on groceries?

    What are your medical and pet expenses?
    • GTR King
    • By GTR King 4th Mar 18, 2:17 PM
    • 776 Posts
    • 145 Thanks
    GTR King
    • #3
    • 4th Mar 18, 2:17 PM
    • #3
    • 4th Mar 18, 2:17 PM
    Household Information
    Number of adults in household........... 2
    Number of children in household......... 0
    Number of cars owned.................... 2

    Monthly Income Details
    Monthly income after tax................ 2000
    Partners monthly income after tax....... 1340
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 3340

    Monthly Expense Details
    Mortgage................................ 767
    Secured/HP loan repayments.............. 530
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 143
    Electricity............................. 182
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 40
    Telephone (land line)................... 0
    Mobile phone............................ 160 (Is that for 2 phones? Can't you go Pay as you go or get cheaper contract?)
    TV Licence.............................. 13
    Satellite/Cable TV...................... 35
    Internet Services....................... 0 (No Internet at all)
    Groceries etc. ......................... 100
    Clothing................................ 0
    Petrol/diesel........................... 0 (How do you fill the car up??)
    Road tax................................ 31.93
    Car Insurance........................... 158
    Car maintenance (including MOT)......... 66
    Car parking............................. 30
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 101.75
    Pet insurance/vet bills................. 160
    Buildings insurance..................... 39.84
    Contents insurance...................... 0
    Life assurance ......................... 22.23
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0 (Nothing not even 50 a month)
    Haircuts................................ 0
    Entertainment........................... 0 (Should have something in there)
    Holiday................................. 0 (No Holidays)
    Emergency fund.......................... 0 (Need this)
    My expenses............................. 487.5 (What are these for?)
    OH expenses inc smoking, fuel etc....... 375
    RCN..................................... 30
    (Unnamed monthly expense)............... 0
    (Unnamed monthly expense)............... 0
    (Unnamed monthly expense)............... 0
    (Unnamed monthly expense)............... 0
    Total monthly expenses.................. 3472.25
    • theoretica
    • By theoretica 4th Mar 18, 2:22 PM
    • 5,160 Posts
    • 6,412 Thanks
    theoretica
    • #4
    • 4th Mar 18, 2:22 PM
    • #4
    • 4th Mar 18, 2:22 PM
    Even without your unsecured debts you are spending more than you earn. You are going to need a lifestyle change to get out of this.

    Do you have one or more spare rooms to take a lodger in?

    Are you on the best electricity deal for you? Can you cut your use age at all?
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
    • lovesmakeup
    • By lovesmakeup 4th Mar 18, 2:25 PM
    • 13 Posts
    • 11 Thanks
    lovesmakeup
    • #5
    • 4th Mar 18, 2:25 PM
    • #5
    • 4th Mar 18, 2:25 PM
    You need to give a breakdown of your and your OH's expenses. Fuel should be in the petrol column and so on.

    Your mobile expenses are ridiculous. Speak to the operator and explain your situation. If need be sell the phones to recoup some of the expense. You don't need an expensive phone.

    Only 100 a month on groceries?

    What are your medical and pet expenses?
    Originally posted by BorisThomson
    I haven't split out our personal money because we don't do it that way - we don't spend xx on fuel we just make sure we have enough to cover it all

    My medical expenses are 50 Vision Express and then dental
    My pet expenses are 50 insurance for two large dogs and then food.

    All my expenses have been worked out based on the average of the last three months
    Last edited by lovesmakeup; 04-03-2018 at 2:28 PM.
    • lovesmakeup
    • By lovesmakeup 4th Mar 18, 2:26 PM
    • 13 Posts
    • 11 Thanks
    lovesmakeup
    • #6
    • 4th Mar 18, 2:26 PM
    • #6
    • 4th Mar 18, 2:26 PM
    Even without your unsecured debts you are spending more than you earn. You are going to need a lifestyle change to get out of this.

    Do you have one or more spare rooms to take a lodger in?

    Are you on the best electricity deal for you? Can you cut your use age at all?
    Originally posted by theoretica
    We have a lodger who pays 80 a week which is why my groceries budget is only 100. We use the 80 for food and then the 100 in the account is for when we buy online deliveries

    Our electricity is complicated. I am looking at whether I'm on the best deal, our thermostat is outside and the heating is on all the time. It is also a large house
    • BorisThomson
    • By BorisThomson 4th Mar 18, 2:28 PM
    • 1,586 Posts
    • 3,420 Thanks
    BorisThomson
    • #7
    • 4th Mar 18, 2:28 PM
    • #7
    • 4th Mar 18, 2:28 PM
    My medical expenses are 50 Vision Express and then dental
    My pet expenses are 50 insurance for two large dogs and then food.

    All my expenses have been worked out based on the average of the last three months
    Originally posted by lovesmakeup
    Please answer all questions, and put the information in the correct column.

    Lodger income should be listed in other income, and your outgoings adjusted accordingly.

    What are you spending the dental and Vision Express payments on?

    110 on dog food, that needs to be changed.
    • enthusiasticsaver
    • By enthusiasticsaver 4th Mar 18, 2:45 PM
    • 6,410 Posts
    • 13,194 Thanks
    enthusiasticsaver
    • #8
    • 4th Mar 18, 2:45 PM
    • #8
    • 4th Mar 18, 2:45 PM
    I don't really know where to start except to say that you need to decide what is most important to you. If you carry on spending at the rate you are then I agree with your friend your situation is dire and you will lose your house.

    The personal expenses need to be broken down and are far too high.

    The electricity costs are huge. Is there a reason for this? Are you trying to economise or on a cheapest tariff. Do a comparison if you have not already done it. Are you in arrears on it and this is the reason for the large payment?

    You need to contact your council re the defaults on council tax. Those will definitely affect your credit record and they can take money off your salary or benefits if they take you to court. If you are not working where does that 2k per month come from?

    If you continue to default with the car they will take it back but you cannot afford it anyway. Have you contacted them to see if they can suggest anything? Presumably if you are not working you do not need it anyway?

    The medical expenses, mobile phones and pet insurance/vets bills are all too high. Have you tried everything to try and get these down?

    As you have such a massive shortfall what is not being paid at the moment or has it been going on your overdraft? Your overdraft must be expensive due to Lloyds putting their fees up last year.

    I think you and your OH need to go through your soa again being much more accurate and breaking down the personal expenses and deciding what you can ditch or reduce. You may need to consider a DMP and that will also involve some tough decisions.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • lovesmakeup
    • By lovesmakeup 4th Mar 18, 3:35 PM
    • 13 Posts
    • 11 Thanks
    lovesmakeup
    • #9
    • 4th Mar 18, 3:35 PM
    • #9
    • 4th Mar 18, 3:35 PM
    I don't really know where to start except to say that you need to decide what is most important to you. If you carry on spending at the rate you are then I agree with your friend your situation is dire and you will lose your house.

    The personal expenses need to be broken down and are far too high.

    The electricity costs are huge. Is there a reason for this? Are you trying to economise or on a cheapest tariff. Do a comparison if you have not already done it. Are you in arrears on it and this is the reason for the large payment? Honestly, I don't know. We spent 63.51 on Electricity in November and 84.50 on Gas. It's higher for December and January. I believe our thermostat works on the temperature outside and then keeps the heat up to avoid frozen pipes.

    You need to contact your council re the defaults on council tax. Those will definitely affect your credit record and they can take money off your salary or benefits if they take you to court. I have sent them an email, I've checked and we're only 143 behind so I've emailed to tell them i will pay this on Friday 16th March,

    If you are not working where does that 2k per month come from?I am working. Essentially I was a manager, I had to leave. Then I am temping at a job I love which brings in 3600 a month, they've offered me perm work but due to the way the NHS works the permanent salary is less than half the temporary salary. So I will be going back to agency work by the end of this month which at 2 shifts a week is 2000 a month.

    If you continue to default with the car they will take it back but you cannot afford it anyway. Have you contacted them to see if they can suggest anything? Presumably if you are not working you do not need it anyway? I've paid over 2/3 of the car. I was considering contact them to ask if we could renegotiate payments. I have 18 months left I think. I will need it for agency work as I'll be driving quite far

    The medical expenses, mobile phones and pet insurance/vets bills are all too high. Have you tried everything to try and get these down? Medical expenses are high, I use contact lenses and other brands irritate my eyes. I am planning on starting again with trials to see if I can find a cheaper alternative. I don't have access to a NHS dentist so the remaining 50 a month covers any dental nasties. Pet insurance is high for 50 I am going to look at other providers however I don't expect it to lower that much due to the breed of my dogs. Pet food is high because we were feeding raw, we are currently trialling kibble to bring this down.

    As you have such a massive shortfall what is not being paid at the moment or has it been going on your overdraft? Your overdraft must be expensive due to Lloyds putting their fees up last year. 5 a day plus 150 a month interest. It has only just got to the point where we can't manage the shortfall. Previously things would bounce but I could sort of live hand to mouth but literally pay check to pay check. And now its caught up with us. There is 400 left in the joint account and all the bills to go out.

    I think you and your OH need to go through your soa again being much more accurate and breaking down the personal expenses and deciding what you can ditch or reduce. You may need to consider a DMP and that will also involve some tough decisions.How would a DMP affect me needing to remortgage next year? I have based my SOA on my current spending because that was more accurate than saying "this is what I'll do. my friend is totally tough love and ultimately I know its got to change.
    Originally posted by enthusiasticsaver
    Thank you sorry if I've missed anything out when replying. i haven't broken down our personal money as I know it covers it all but I don't know what it covers down to the exact penny. I will be doing this moving forward though
    • MallyGirl
    • By MallyGirl 4th Mar 18, 3:50 PM
    • 2,687 Posts
    • 7,691 Thanks
    MallyGirl
    I suggest you keep a spending diary -record absolutely every penny you and OH spend. It will be an eye opener
    • theoretica
    • By theoretica 4th Mar 18, 3:59 PM
    • 5,160 Posts
    • 6,412 Thanks
    theoretica
    We have a lodger who pays 80 a week which is why my groceries budget is only 100. We use the 80 for food and then the 100 in the account is for when we buy online deliveries

    Our electricity is complicated. I am looking at whether I'm on the best deal, our thermostat is outside and the heating is on all the time. It is also a large house
    Originally posted by lovesmakeup
    So you are actually paying about 450 a month on food? That is another very high figure.

    50 a month for optician is a lot, check you are on the best deal.
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
    • theoretica
    • By theoretica 4th Mar 18, 4:10 PM
    • 5,160 Posts
    • 6,412 Thanks
    theoretica
    This table shows what type of contact lens is in brand name boxes and may help you ring the same thing cheaper.

    https://www.visiondirect.co.uk/opticians-own-brand-contact-lenses
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
    • sourcrates
    • By sourcrates 4th Mar 18, 4:23 PM
    • 14,051 Posts
    • 13,310 Thanks
    sourcrates
    "Our council tax has bounced every month for three months, my car payment has bounced for two months and they've served me with a default notice."

    This is worrying, council tax is a priority debt, you need to speak to them tomorrow to organize a payment plan, otherwise, very quickly, they will obtain a liability order, and you will have bailiffs knocking on your door, once they become involved, your bill will double due to their fee`s.

    This needs sorting straight away.

    Likewise the car, if they have issued a default notice, and you do not comply with the contents of that notice, depending on how many payments you have already made, they will apply to the court to repossess the vehicle.

    To avoid that happening, you must speak to them urgently and make arrangements to pay.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
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    • ploppy57
    • By ploppy57 4th Mar 18, 4:39 PM
    • 722 Posts
    • 4,650 Thanks
    ploppy57
    Your building insurance seems high? Obviously I do not know the size of your house or the area you are in, but we pay 11 a month for combined building and contents on a 3 bed end of terrace.


    Also your car insurance seems very high?? 158 per month??? Is this correct?
    As others have said, mobile phone cost is also very high?
    Seems as though you need to go through your details again.
    DMP March '15 57,549. Now 44,430. almost 23% paid. Went SM Feb '18 to get DF sooner.
    Emergency fund #231... Building up slowly.
    Christmas '18 challenge... 22 /300
    "There's a Great Big Beautiful Tomorrow, Shining at the end of every day"
    • lovesmakeup
    • By lovesmakeup 4th Mar 18, 5:09 PM
    • 13 Posts
    • 11 Thanks
    lovesmakeup
    "Our council tax has bounced every month for three months, my car payment has bounced for two months and they've served me with a default notice."

    This is worrying, council tax is a priority debt, you need to speak to them tomorrow to organize a payment plan, otherwise, very quickly, they will obtain a liability order, and you will have bailiffs knocking on your door, once they become involved, your bill will double due to their fee`s.

    This needs sorting straight away.

    Likewise the car, if they have issued a default notice, and you do not comply with the contents of that notice, depending on how many payments you have already made, they will apply to the court to repossess the vehicle.

    To avoid that happening, you must speak to them urgently and make arrangements to pay.
    Originally posted by sourcrates
    I've emailed the council tax people today to say I will pay the 143 on March 16th. So it will still go out in the month it's due so not so bad.

    Same with the car, I've emailed to say I will set up a new DD from the new joint account to pay them from April payment and I will clear the 900 outstanding weekly for the next 10 weeks. I've got 4 weeks left of 815 a week income so I need to get into the best position I can do.

    I've paid 11000ish for the car and have around 7500 left so hopefully they'll see the benefit of letting me clear the arrears and keep the car. It did say in their letter as I'd paid that amount they'd have to get a court order to reclaim it but I am two payments late already. I've explained my situation with my dad killing himself, I know its wrong to exploit things like that but it really is why I went off the rails.
    • lovesmakeup
    • By lovesmakeup 4th Mar 18, 5:12 PM
    • 13 Posts
    • 11 Thanks
    lovesmakeup
    Your building insurance seems high? Obviously I do not know the size of your house or the area you are in, but we pay 11 a month for combined building and contents on a 3 bed end of terrace.


    Also your car insurance seems very high?? 158 per month??? Is this correct?
    As others have said, mobile phone cost is also very high?
    Seems as though you need to go through your details again.
    Originally posted by ploppy57
    Well, we got the insurance from the mortgage broker. I have done a quote today and am gobsmacked at the difference. I have no excuses, ignorance is not an excuse as I could have done the legwork myself. I just need my new account to open and then I will switch. LV have quoted 160 a year. I'll need to pay monthly to start with as I can't afford it all in one whack.

    Car insurance is high yes, OH had points from speeding. Looks like its just about to drop by 30 a month at renewal though.

    Mobile phones, we have two contracts at 45.99 each plus another one with a different provider which I forgot to cancel months ago (hadn't even noticed it) so am cancelling that. I have a year left on the other contracts unfortunately.
    • enthusiasticsaver
    • By enthusiasticsaver 4th Mar 18, 5:25 PM
    • 6,410 Posts
    • 13,194 Thanks
    enthusiasticsaver
    Ok. You have explained it all but you are very obviously overspending I feel you not only pay 860 in non essential personal spending but also the 80 per week from your lodger.

    It seems the urgent things are your car and the council tax. Reduce your personal spends down as you cannot afford the amount you have allocated given your other outgoings are high too. Good that you know things have to change. How much of that personal money is fuel for both you and OH to get to work?

    You could probably get your food shop to 250 if you were more careful and shopped at discount supermarkets depending on whether you feed the lodger too or not. This would mean 270 of your shortfall would be covered if you put the lodger money straight in your bank so you are not tempted to fritter it. This means you need to find an additional 360 savings from your personal expenses and cutting down on the categories you are overspending like mobile phones, pet costs, medical expenses and electricity. Turn the thermostat down slightly and investigate cheaper tariffs.

    A DMP will affect you remortgaging although if you stick with your current lender they may not credit search you. You are on a good rate now so you don't want that to increase. You both need to be more disciplined with your money. Alternatively you can sell up and clear it and go back to renting. That would not be my choice and you would lose all your inheritance. It looks like you overstretched with the house purchase as the start of your problems and then carried on overspending which is easily done if you don't keep an eye on where your money is going.

    If your OH is a smoker get him to quit or use cheaper alternative like roll ups or nicotine replacements. The usual culprits for overspending are alcohol, takeaways and coffee shops or pub outings. Allow yourself a small budget for this each month and keep to it to stop you feeling too deprived. Maybe once a month takeaway on pay day. Don't buy lunches out, take them from home.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • theoretica
    • By theoretica 4th Mar 18, 5:30 PM
    • 5,160 Posts
    • 6,412 Thanks
    theoretica
    I get the impression personal spending may include rather a lot on makeup. Use up what you have!
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
    • Haylescom
    • By Haylescom 4th Mar 18, 5:45 PM
    • 323 Posts
    • 409 Thanks
    Haylescom
    I have daily contact lenses from specsavers, a specific type because of my astigmatism, but nowhere near 50pm. Can you take a holiday from them and wear glasses for a while?
    • enthusiasticsaver
    • By enthusiasticsaver 4th Mar 18, 5:46 PM
    • 6,410 Posts
    • 13,194 Thanks
    enthusiasticsaver
    300 a month on overdraft fees is not sustainable on your budget. Is there any option of a 0% deal or can you talk to Lloyds. I think a DMP would have to be the way forward if you cannot get that sorted.

    Good that you have sorted the council tax but to stop the robbing Peter to pay Paul mentality you will have to set a budget and keep to it and not at the level shown above in your soa. Otherwise the debt will continue to rise and you will default eventually.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
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