dont want debt no more

E5C4P3 wrote: »

Normally a lurker, but decided the time has come to hammer down my debts. Being honest, 90% of the debt has come from gambling. I havn't visited a casino now for over 6 months, and never will again, but ended up spending on a holiday and bought myself a cycle to get fit. i have posted my SOA, and any comments, harsh or otherwise, will be taken on board. i dont want to get rid of my sky package as it saves the boredom and me wanting to go out, especially now the football has started again. Loan 1 has 12 payments to go, and loan 2 has 26 to go, neither of which i know the APR on. Both 0% credit cards end in Feb next year. Thanks in advance for your thoughts.


Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1900
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1900

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 78 Over 10 or 12 months? If 10 think about asking to take it over 12.
Electricity............................. 0 ? Something should be here
Gas..................................... 0 and here
Oil..................................... 0
Water rates............................. 0 Are you ins scotland? If not something needed here.
Telephone (land line)................... 0
Mobile phone............................ 35 When does your contract end? Switch to sim only can pick fab deals up for around £10
TV Licence.............................. 13
Satellite/Cable TV...................... 68 I know you don't want to cut this but see if you can make it less, tell them your leaving They always find a 'one off' deal
Internet Services....................... 0
Groceries etc. ......................... 170 This could be a bit less. I spend £10 more and have 3 kids.
Clothing................................ 25 Every month?
Maybe cut back to essentials only for now.
Petrol/diesel........................... 45
Road tax................................ 22
Car Insurance........................... 48.5
Car maintenance (including MOT)......... 15 Do you actually save this? You should be saving it somewhere so its there when needed.
Car parking............................. 0 Never?
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 7
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 Never?
Haircuts................................ 0 Never?
Entertainment........................... 0 This isn't realistic Should be something here
Holiday................................. 0
Emergency fund.......................... 0 NEed to try and fit something here
Total monthly expenses.................. 1126.5


Assets
Cash.................................... 600
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 600

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
cc1............................8700......200.......0
cc2............................3400......150.......0
cc3............................1400......100.......18.9
loan2..........................7659......195.......0
loan1..........................1100......98........0
Total unsecured debts..........22259.....743.......-


Monthly Budget Summary
Total monthly income.................... 1,900
Expenses (including HP & secured debts). 1,126.5
Available for debt repayments........... 773.5
Monthly UNsecured debt repayments....... 743
Amount left after debt repayments....... 30.5 Do you actually have this left? If not keep a spending diary and find where its going/where is over budget

Personal Balance Sheet Summary
Total assets (things you own)........... 600
Total HP & Secured debt................. -0
Total Unsecured debt.................... -22,259
Net Assets.............................. -21,659