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Original poster

Debt mutual support thread number 6 ....... start the new year with a clear purpose and keep moving forwards even by tiny steps

999 replies

TalkinPeace · 13/12/2014 13:53

This thread follows on from the last five threads in the series, the most recent of which is here.
www.mumsnet.com/Talk/legal_money_matters/2193736-Debt-mutual-support-thread-number-5-the-light-at-the-end-of-the-tunnel-is-NOT-an-oncoming-train?

We live in a society that makes it horribly easy to get into debt but makes it incredibly hard to admit you have a problem and even harder to get out of debt.
The posters on threads, new and experienced, are here to help people get to where they want to be.

I am not in debt, any more.
Here is a link to some spreadsheets that might help
www.mumsnet.com/Talk/legal_money_matters/1987219-SPREADSHEETS-for-Debt-Control-Budgeting-Mortgages-etc

and lots of people use this
YouNeedABudget

The important things to remember are

  • yesterday is as past as the Crimean War
( we will not judge how you got into debt, but we will support you on the way out )
  • this is an anonymous forum
( we will not tell your employer, family or friends of the reality of your numbers and we are here day and night )
  • this thread is about supporting people through the huge mindset changes needed to come out of debt
( feel free to offload all of the feelings that drive you to want to spend, that make it hard to save and that generally make life crap at times, including getting those closest to you to recognise the changes needed )

Join in, bare your soul and come out the other end.
Its worth it.
You are worth it
The long term results for you, your partner, your children, and your friends and family are worth it.

OP posts:
bookwormbeagle · 30/01/2015 12:09

Hi Fairy, that's my fallback plan! Although I think tbh we'd struggle to sell it, as it's a maisonette (terraced house converted to ground floor and first floor flat) in a town chockablock full of purpose built one bed flats. As mine has on street parking in a fairly run down area I think it's not going to be worth much. Only saving grace is that my mortgage has always been my first priority and I've never missed a payment.

Balance stands at £47000 approx, on 2.5% interest currently as lucky for me my fixed rate ended just before the BofE rate was slashed. Current repayments are taking £2000 off the balance per year so If I could get it fixed up and re-rented it would make a huge difference long term. Needs some work to get it up to scratch though!

bookwormbeagle · 30/01/2015 12:12

Also, regarding interest rate, it's very likely to increase soon even if only by 0.5% so although this won't increase the monthly payment by much I'd rather get a plan in place to stop me worrying.

Original poster
TalkinPeace · 30/01/2015 13:53

Hi Bookworm and welcome to the gang.
Right. The credit cards.
Set up standing orders for them all. If needs be go veggie during the week, but get their payments regular and the balances dropping.

House : yup, I'd say keep it, but allocate every penny of income from it to paying down debt.

Interest rates : Bank of England are going nowhere this side of Christmas.

OP posts:
bookwormbeagle · 30/01/2015 14:23

Hi Tip, and thank you both for the warm welcome.

Will post back later with the figures.

Re IR that's what I thought also, and am keeping fingers crossed it doesn't happen, but I received a letter this week from C&G who my mortgage is with advising of an imminent rise of 0.25% and the expected amount extra this would mean.

My CCs are all with DCAs now so I'll have to chase them for their account details to set up a standing order.

Lyinginwait888 · 30/01/2015 15:02

I've just done a proper YNAB session including a forecast, and our debt free date is Nov 2016 (18k to pay off). I thought we could do it in 18 months, but this is a proper realistic overview. It allows for real life shit like car tyres needing replacing and vets bills. My previous 18m wasn't allowing for shit to go wrong in life. I will have my beloved emergency fund (no comment please TiP Smile) so we're well on our way!

April 2014 we had £45k - sold a car to really kickstart it all.

IamMummyhearmeROAR · 30/01/2015 18:30

Heard today from my accountant that we are getting a £9000 tax refund. I can't tell you the relief I feel. I've been living under a cloud for a year which has finally lifted. All of the money is going on CC debt so apart from the mortgage and with my dh's extra PAYE weekend work, we should be debt free at some point this year. The business was a failure but we both have public sector jobs to fall back on and we've learned valuable lessons, mainly that we lack the self discipline to run a business!

Favouritethings · 30/01/2015 18:34

lying 45k down to 18k that is absolutely amazing!!

iamMummy oh my goodness, I bet you're feeling ecstatic! Fantastic news Grin

IamMummyhearmeROAR · 30/01/2015 18:38

Thank you x I feel amazing x

Lyinginwait888 · 30/01/2015 20:19

Oh don't congratulate me too much! It was the sale of a stupid car that brought it down straight away to £23k!

Lyinginwait888 · 30/01/2015 20:19

Wow about the refund! What a relief x

Fairylea · 30/01/2015 20:26

Wow! What a refund!!

Lying that is great news :) you are definitely well on your way :)

Dh has been offered a job interview today for a much better paid job (increase of £15 to £24!) However.... The job is even more rural and he doesn't drive so it would be me taking him there and back everyday. I don't mind. .. its about a 10 minute drive so not too far but would be about half an hour walk and no other transport. I guess ds wouldn't mind going in the car with me twice. ..We did it once before for another job he did.

Also... He doesn't have a suit (!) Or a passport or driving licence for ID! He lost his passport... its £100 I think to get another one. I need to check on that. Bugger. That's £100 we really don't need to spend right now. Tempted to see if they can use something else as id. Hmmm.

Just thinking out loud really. I don't mean to sound negative but I'm very wary of dh leaving the company he is with because it is a high street name and this other one is a local (but long running) company. It would be a disaster to get something and then it close - lots of things seem to be closing here.

Just needed to write that down!

Fairylea · 30/01/2015 20:26

Obviously I mean 15k to 24k Grin

Favouritethings · 30/01/2015 21:27

lying I stand by my congratulations.. Lots of people wouldn't have sold the car Smile

JontyDoggle37 · 31/01/2015 03:15

lying - what a great positive action to sell something that helps you out so much
Mummy - I bet you sleep soundly tonight, what fantastic news
Fairy - I think passports are £75, I had to do mine recently when I got married. And if the company is local and long running, that means it has weathered several recessions and plenty of other local companies shutting down and is still going - so actually they sound like a really good bet - and over a 50% increase in income could well be enough to give you money to sort your house out, and petrol in the car to be able to do more than go to the park and Tescos every day. Loads of positives there, go with it!
Variable day here - I posted too soon about not worrying about contingency fund too much. My little Westie got attacked in the park by a much bigger dog this afternoon, the owner was useless and I (at 27 weeks pregnant) had to step in and drag it off. My little man has a torn ear and a sore patch on his back and is very lucky it wasn't worse. He is also covered head to foot in mud as the dog rolled him around on the floor. He's having a bath in the morning, vet said just let him chill out today, they managed to clean the actual wound properly so that's ok. But £55 poorer as a result, plus not sleeping because I keep seeing it over in my head.
On the good side, I got the food shop done for predicted amount of under £30, and used my Orchard voucher to get the free meat - I portioned it up when I got home and it works out as enough for eight meals for the two of us, which is fantastic.

Got to pay the TV licence tomorrow - I hate paying for things where you dnot get something tangible in return, I feel the same about servicing my car - I know they're both necessary, but they still run the same after, I'm just poorer! Grin. Right, going back to bed to try and sleep....

KinkyDorito · 31/01/2015 07:18

Jonty Sad your poor dog! What did the other owner say? That's awful. Is he okay now?

Nice refund Mummy Smile. It's so nice when you get an unexpected helping hand.

Lyinginwait888 · 31/01/2015 07:50

Sad. That's awful. Hoping for a speedy recovery.

I updated my ynab categories last night. It's so satisfying. I'd left out saving For car insurance £50pcm. Despite having a category for servicing, and mot.

This phone is really struggling with this typing... Hope it's not on its way out!

I have a nsd ahead. Lovely.

JontyDoggle37 · 31/01/2015 08:07

The other owner said she was sorry, and her dig had never done anything like that before. She got a towel to try and wipe mud off but it was no good he was covered, so she just went off and walked her dog, didn't offer to pay for vet or come with me to vet or anything....I was so shaken up, and if I'm honest in tears at this point, I didn't think to get her car registration. I just wanted to get the wee man to the vets ASAP. Thankfully, I haven't had him clipped for a few months as he feels the cold, so he has a lovely curly coat at the moment, which in sure saved him quite a bit as it was too thick for the other dog to get their teeth in.

KinkyDorito · 31/01/2015 08:19

Aw, poor dog. Leaving you was a shitty thing to do. She was probably shaken up too, but you don't just walk away from something like that. What was her dog?

Have a restful day with lots of cuddles.

Fluffycloudland77 · 31/01/2015 08:43

Jonty that's an awful thing to happen. I'd buy him a waxed jacket or a little leather coat to wear.

The tough material would stop a dogs teeth getting as deep.

Favouritethings · 31/01/2015 08:49

I suspect part of the reason she scarpered was because she was worried about the repercussions for her dog. Hopefully she will keep it on a lead from now on so it won't do it again either.

Your poor dog, I hope he feels better soon Biscuit (dog biscuit)

Fairylea · 31/01/2015 09:46

Jonty I'm so sorry about your dog! That's just awful. You and your poor dog must have been so frightened! Sending you lots of Flowers

Baddz · 31/01/2015 10:26

A question...
if I get offered this job and after I have paid off my overdraft :( should I just bank the money?
I am worried I will think "oh, I have x amount of money to spend this month" and I will just fritter it away :(
I need to pay off the next account too.
I do want some stuff for the house (desperately need blinds for the conservatory roof) but I dont want to spend all my wages on "stuff" either.
Advice?

hooker29 · 31/01/2015 11:52

....still waiting for things to get better here.....
DH had his job interview on weds and was very positive about it-the guy said he'd ring him on Friday (yesterday).......no call came.
Also got a letter about the PIP that he applied for-he can't get it as he's 'too mobile'.
So DH cannot claim one single penny from the benefit system at all.
Did my tax return, and i owe over £400.Oh joy!
We must be at rock bottom now!

Original poster
TalkinPeace · 31/01/2015 13:00

baddz
set up a standing order to lock it away.
hooker
call them on monday if needs be

OP posts:
Lyinginwait888 · 31/01/2015 13:35

Baddz do you have Ynab? I thought you might have downloaded it last year. Might be wrong! If so, that would give some direction as to how to proceed? Good luck!