Posted: Wed Sep 26, 2007 9:27 am
Good morning all !
I've been thumbing through this site for a few hours now-it's been absolutely wonderful ! I'm so glad to have found it and I'm REALLY happy to have the opportunity to speak to others in the same situation.
Here's the story....
I left my long term partner 4 years ago ( no-one else involved, just needed to escape after my Mum died-kinda put my life into perspective )
I dote on my two kids and have them every weekend and mid-week too, also the relationship with the ex is now cool.
On the downside is the debt...I signed the house over to the ex and promptly proceeded to run up a credit card to the tune of £7k.....then took out an unsecured loan of £10k to pay off the card and reduce the monthly payments...then stupidly started to run up the card to £7k again...
For 2 years now I've been in the familiar situation of robbing Peter to pay Paul...I've moved into a council flat which I've already nearly lost twice 'cos of late payment of rent...I've deliberately failed to tell the credit card company that I've moved and basically ignored the debt...I've managed to carry on paying the £10k loan @ £150 per month but to be honest I don't know if that's been true this year 'cos I haven't dared to look at my bank account-I just pay the important bills on payday and buy the months shopping, don't go out or go on holidays and generally live like a hermit..until the money runs out around the middle of the month.
My net income is £933 per month, rent is £260, maintainence used to be £200 but I've had to reduce this to £100 ( to my shame)and with the car to run, it still gets eaten away quickly.
I know I need to sort this out ( I've done a quick IVA test-looks like bankruptcy is the only option ).
The bit I need help with is actually getting the guts to speak to my bank ( Smile-who I think are great, but I still regularly hit the £600 overdraft limit) and then what do I say ? "I'm in a mess and I've also deliberately ignored a credit card bill for a year" ?
I'm scared that they will instantly demand the overdraft money and close the account...heck, I'm just scared generally !
Any help/tips/advice or kick up the backside would be much appreciated !
Thank you for reading and apologies for the ramble !
I've been thumbing through this site for a few hours now-it's been absolutely wonderful ! I'm so glad to have found it and I'm REALLY happy to have the opportunity to speak to others in the same situation.
Here's the story....
I left my long term partner 4 years ago ( no-one else involved, just needed to escape after my Mum died-kinda put my life into perspective )
I dote on my two kids and have them every weekend and mid-week too, also the relationship with the ex is now cool.
On the downside is the debt...I signed the house over to the ex and promptly proceeded to run up a credit card to the tune of £7k.....then took out an unsecured loan of £10k to pay off the card and reduce the monthly payments...then stupidly started to run up the card to £7k again...
For 2 years now I've been in the familiar situation of robbing Peter to pay Paul...I've moved into a council flat which I've already nearly lost twice 'cos of late payment of rent...I've deliberately failed to tell the credit card company that I've moved and basically ignored the debt...I've managed to carry on paying the £10k loan @ £150 per month but to be honest I don't know if that's been true this year 'cos I haven't dared to look at my bank account-I just pay the important bills on payday and buy the months shopping, don't go out or go on holidays and generally live like a hermit..until the money runs out around the middle of the month.
My net income is £933 per month, rent is £260, maintainence used to be £200 but I've had to reduce this to £100 ( to my shame)and with the car to run, it still gets eaten away quickly.
I know I need to sort this out ( I've done a quick IVA test-looks like bankruptcy is the only option ).
The bit I need help with is actually getting the guts to speak to my bank ( Smile-who I think are great, but I still regularly hit the £600 overdraft limit) and then what do I say ? "I'm in a mess and I've also deliberately ignored a credit card bill for a year" ?
I'm scared that they will instantly demand the overdraft money and close the account...heck, I'm just scared generally !
Any help/tips/advice or kick up the backside would be much appreciated !
Thank you for reading and apologies for the ramble !