Shit shit shit. I have just added up the total that we owe on two loans and three credit cards and it is over £40K This doesn't even include the HP that we have just taken out on a brand new car (yes, I know you shouldn't buy new but the old one was dead and we couldn't borrow from anywhere and we didn't even have £100 to buy a banger; I also reasoned that second-hand cars don't come with the 3 MOT free years and I couldn't find a second-hand one that was £0 road tax).
I have just got off the phone to Payplan and they reckon that, with IVAs, we'll be cutting our monthly payments down to about £500 (as opposed to £900) and we'll be done in 5 years as these are the terms of an IVA.
What the fuck am I going to do about Christmas? And how am I going to pay for the MOT on the second (knackered) car in December? I'd be very surprised if that came in under £200. We really do have to have two cars as DH and I work in opposite directions and we live in rural Cornwall otherwise I would happily get rid of it. And the car tax is due this month and we are a month in arrears with the mortgage.
I don't really know how it got this bad; we have just had a whole year of one or other of us being on mat/ pat leave with DD so only one income but the debt is still way worse than I thought it would be
I know that I have been crap. Are there others of you that have got yourselves out of similar situations? Please tell me it gets better.
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Just added up our debts. Please come and hold my hand as I embark on IVAs
33 replies
KernowBysVycken · 24/10/2012 21:24
OP posts:
EleanorBloodBathsket ·
25/10/2012 09:05
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