Wednesday, 16 March 2011

Am pondering.............

Am pondering options........ not sure the whole cap thing sits that well with me..... am pondering lots..... may have to tweak what they feel is right to what I feel is right... may be able to make a bulk payment to one of creditors to bring debt down, credit card can get transferred and transferred for 0% interest till its paid off. They are lovely but I don't think any of them have actually been in real debt..... must decide tomorrow and make investigative phone calls...

And so the descent to insolvency begins...........

More dealing with debt day today - spent the day moving direct debits to the new bank account and such then had my meeting with the folks from CAP.

Bad news - according to their budgeting which includes saving £70 per month for car type stuff, household maintenance, saving for clothes essentials for both of us etc it will take over 20 years to pay off my just under 5k debt. (I still have to hand in wage slips for council tax benefit and also get child tax credits rejigged but given new government policy I have little faith)

I have to get rid of my contract mobile £25 per month and am unable to save a poxy £10 a month for my daughter straight into her child trust fund account.  I don't use the landline as they all have mobiles, my landline package only affords me free calls at weekends so I do not use the phone till then etc  For £25 per month I get 300 mins. I text lots. But ok it has to go. More issues with the phone company to face. 
My petrol is limited to 100 per month -  This is what I aim for. I get an extra £10 for food per week and £15 for leisure per month.

Anyway the upshot is they feel I should apply for a debt reversal order - poor mans bankruptcy so I am told but I get to keep the house????? not my credit reference however. I suppose this is not too much of an issue as I have no intentions of getting any debt ever again however I will have to remortgage at some point and I do want to own a house as I have a long time to pay rent. I so hope it sells soon. I love living here but .......I am also unable to take a mortgage break if I go back to uni. I am going to drop the price on the house again by 5k. If I am lucky I will get some of my 15K deposit back. I don't even want to think about the state of my pension............ non existent.

Oh well so much for frugalism as a lifestyle choice - (Choosing it so you can reap the rewards and make progress is very different as well I know) Ha frugal sounds better than poor I suppose but lets face facts I ain't got no cash and def no spare cash or disposeable income for owt.

Cheers Dave thanks for taking my career, self respect, financial independence, credit rating. Before being made redundant on my 29k including maintenance and child benefit I could be frugal and make progress now on 16,500k its time to go backwards. I get the austere times and the cuts ( kind of maybe not as harsh), VAT rise didn't bother me - choose wisely I thought- luxuries like booze and fags, Chelsea tractor 4x4 cars, expensive hobbies  designer clothes. primarni every week for the latest t shirt/item to fit in, made in sweatshops for buttons - that's your choice wants not needs unessential and as such choose wisely. Even faced redundancy - I had a plan  I will sell up - be prepared to move just as Dave said to  retrain/find work where ever I can.People need to move to the jobs he said!!  I will out of necessity uproot my daughter from all she knows, our support network, friends and start again somewhere..... hopefully cheaper........ No sale, no interest either!

The gorgeous one is missing out too - she has stressed mummy, no swimming lessons and is desperate to begin ballet like her little friends. I am sure she will survive without them plenty other kids do but that doesn't really cut it with me. I used to make the choices being frugal, buying preloved etc so that we could do these things. I couldn't afford the petrol to get there on my budget anyway! We don't heat the water at night for a bath either - its just showers these days. Short ones. Got to get that electricity down.

Only one family have viewed the house in 7 months. If I was getting viewings I would be happier but no one is buying starter family homes. My end of the market has come to a griding halt.

 Ahhhhh feck it - nowt I can do but ride the wave - all in the lap of the gods now.....  nice bit of fatalism why the hell not!!!