Soa & Lbm

Hi Achelois!

Welcome to the board. It's scary seeing it all written down I know but you've done the right thing facing up to it and you'll get loads of help here.

Regarding your SOA, there were a couple of things that stood out:

1)Is your council tax over 10 months? You can spread it over 12 months to make budgeting easier.

2)Why are you paying mortgage AND rent?

3)What's the "account charge"?

4)You could get the phone/tv/internet package much cheaper.

5)No food?

I hope you don't mind all the questions - I know it seems like we're being really nosey!;) but we need as much info as possible.

monkey xx

Could you consider moving to a less expensive house and one that is closer to your work? This way you could reduce your rent/mortgage and be able to pay less in commuting.

I would get rid of the account charging £15 per month. Maybe consider First Direct? It pays £100 if you switch and if you could get someone on the referrers board to refer you there may be extra cash in it for you. Also check whether Quidco is paying any cashback to switch Alternatively A&L has an interest free overdraft for the first year and there is cashback available at quidco, referrers etc.

You may wish to consider ditching the mortgage insurance. £7/month on a payment of £315 is high and in any event it may not pay out if you need toclaim.

See if a phone, Tv and broadband package would be better for you. I think Sky do something for around £15/month including all three (plus Quidco cashback of course).

Double check via uswitch.com that you are getting the best deal on your utilities. If you can save by switching, there is once again usually a tasty cashback incentive at Quidco.com.

If you feel you can be disciplined and not start spending again, it could save you some serious money if you consolidate your debts - but whether it will really save you money depends on your willpower in no small degree.

Last but not least, I suggest you contact Citizens Advice and the CCCS for professional advice.

Good luck!