Tag Archives: admin

March brings a major milestone

Hello again all

Once more I have spent weeks being busy with work and home, all good again.  Work is going very well but I have been chasing endless paperwork to bring extra money in.   I have finally been successful in closing down an old policy which was deducting a minor amount from my account each month.  This was the fabled PPI claim, I have been successful before but not on this one however I have now been able to stop the money coming out.  No refund sadly but no more payments, so still a victory.

So then, onto big news.  The March payday (26th) brings exciting news for me!   Avid readers of the blog (although the blog has been somewhat quiet recently) will know how huge this debt was and what lengths I have gone to to get rid of it.   Well, on this payday, 2 amounts of money go out of my bank account which are the FINAL payments on TWO loans.   Yes yes yes…2 loans both finish on March 26th.

This means spare income of £375 a month.  That is huge to me, and justifies the decision I made NOT to lower my payments or move to a weaker payment plan.   I cannot tell you the joy I feel but there is more…so read on.

I qualified for my bonus, which also pays out in March.  Readers will recall I was leant some money by family members which I have paid back all bar £1500.   I can now pay that back in one go, yes in one payment.

I am in the unusual position of having a large payment coming to me in March but using my debt management experience I am paying it straight out.  No nice treats for me, they will come later I hope.  It is better to pay things when you get extra funds.

So, 2 loans finish and a family debt completed returned.  That family loan was £6500 by the way.

I am getting there my friends, slowly the clouds are clearing.   I read so many other blogs around this subject of debt, mine was made worse by the affair and divorce and other issues, but if you fight hard enough you can make it.

Always chase every penny, sell what you can, win what you can, be savvy and you can make it.  I am so very close, so close in fact that I can tell you that by the end of the year I should only owe £9000.   That’s still a lot you say?  Is it though, my debt was over £100K.

I honestly cannot wait for payday, so see those final amounts go out and the direct debits drop to ‘finished’ state.

The path to financial freedom is almost available my friends, and when it is, I will step onto it and help whoever I can.

Underestimated the admin!

Apologies for the quietness, been so busy!  Not just with work, but all the admin!   I knew I would have forms to fill in for the Insolvency but wow.

I had already completed a mountain of paperwork and forms, but then I received my ‘director questionnaire’ from the high court.  It is 48 pages, 46 of which are questions around your financial acumen and how you conducted yourself.  Most of them I could answer but some of the questions are so ambiguous that it is hard to know what to put!

Questions such as “Did you, or are you/have you been aware of, any directorship directly or indirectly linked to the “company” at the perceived date?”  what perceived date??  confused…so I put no!  Or did they mean the company that has gone Insolvent?  Who knows.

I did my best with it though, and was as honest as I could be.

In addition, I had the car accident back in July.  I finally received my medical report and proceed forms.   Again, 28 pages of reporting on a meeting I had ages ago, and then an expenses form for minor trivial expenses.   Again, all done and in the post.

As if my hand was aching enough, I attended my Driver Awareness Course and was handed renewal forms for my driving license as that expires in 8 months.  It feels like there is a mountain of paperwork that I have got through but luckily I have a huge backup of stamps to use!

Sometimes you have to get this stuff done, and things like my blog and entering competitions are forced to take a back seat.

But, all admin is done and out of the way, so back to real life.  Is that a good thing???

bills, bills, bills.

Sometimes, and it is rare, my situation gets to me.  It does take a lot, by definition I am a very strong person.  I handle personal crisis well but occasionally it gets too much.  I can only juggle so many things at any one time, today got a bit too much.

Started last night when I got in from work, my ex was kind enough to leave the usual school letters and bills to be filled in, signed and paid and then to be returned to the school.  Quite why she cannot pick up a pen and at least fill them in is beyond me but I am well used to it.  However, there were a few more than normal.

I had come home with £24 in my wallet, proud I had made it through the week after withdrawing £50.  I figured that would get me though the weekend but no, and you can guess what is coming here, the school forms requiring payment equalled £24.  Totally gutted…my wallet was now empty.  Whatever I try to do, every week I end up with no money.  It annoyed me and just felt a little deflated.

Today I received 2 letters, the first was a fine from my bank for my business bank account going overdrawn.  This was expected as I have ceased trading.  This letter will be dealt with by my Insolvency Practitioner but it was still unpleasant to receive the letter.  I knew it was was bad as it was HAND SIGNED!  Normally bank letters have printed signatures, but not mine.

Onto letter 2.  My energy company is putting up my direct debit by a whopping £46/month.   This is an additional £500/year.  This was my breaking point today, I just feel like I always lose.  No matter how many savings I make, or things I sell, or cuts to spending I perform I somehow always end up back at square one.  I have mentioned this before, once you are at the bottom of the pit then somehow you stay there.   It does seem that you need that lucky win, or lottery win, to pull your out.

I wonder how many other people in debt feel this way.  This never ending drain on your funds?  Perhaps when you are affluent you don’t notice these little things but sadly I do notice them.  I just want a break here, it is so hard keeping everything paid and up to date as a single parent.

It is now only 7 weeks till Christmas too.  Something really needs to happen, financially, and quick.

So much paperwork!

It is the Insolvency Meeting Thursday so still wading through all the paperwork I have to complete and provide.  Not a complaint as it is for the greater good, but there is so much information to provide.  Not surprisingly, my accountant has been none too helpful seeing as they will become a creditor.  Informed them what was happening, no reply!  However, I won’t worry as the Insolvency Practitioner will contact them to provide the documentation.

Work has also been the same, lots and lots of paperwork to do.  I am surrounded by paper and pens at the moment!  Also, my printer is low on ink.  But, a busy job is a good job as it means there is lots to do which ensures longevity of employment!

An added bonus tonight though, my daughter refused to go and stay at her mum’s.  This is only the second time this has happened, bless her!   I was all set for yet another night in with the dog, and I get the bonus of my angel!   It impacts my admin but who cares, who can moan when their little girl wants to stay with their dad?

With everything going on, I have noticed how fast time is going.  Somehow tomorrow is Wednesday already and that is another full day.   Sometimes time flying is good but right now I could do with it slowing down a little so I can catch up.

I will print and complete my final forms and statements tomorrow, then I am all prepared.  Just got to sort the payment and I am ready to go.  Keep an eye on those London papers for the Insolvency message soon!