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Results: Which step should I take next?

Get rid of stored furniture (? costs involved, but paperwork re big debt in there)

62.86% • 22 votes

Piggybanking

0% • 0 votes

Work out my exact household expenditure

28.57% • 10 votes

Drop household maintenance? (Nothing needs doing at present)

2.86% • 1 votes

Get water meter to save poss. £75 per year

14.29% • 5 votes

Other (please specify in comment box - ty)

11.43% • 4 votes

You may not vote on this poll

35 votes in total.

  • FIRST POST
    • miracleworker
    • By miracleworker 14th Sep 16, 4:24 AM
    • 8Posts
    • 33Thanks
    miracleworker
    Plodding Through Debts
    • #1
    • 14th Sep 16, 4:24 AM
    Plodding Through Debts 14th Sep 16 at 4:24 AM
    GOALS for 20th Jan - 20th Feb

    1. Move piano at £250
    2. Build emergency fund of £275, using
    - proceeds from sales of clutter

    To List:-
    £120.00 Plate
    £100.00 Bowl
    £087.00 Brass Statuette
    £060.00 Three Prints of London
    £052.50 Three Lawyer Prints
    £030.00 Plane
    £021.00 Plate
    £021.00 Chest of Drawers
    £015.00 Plate
    £015.00 Plane
    £015.00 Dog Picture
    £010.00 Plane
    £010.00 Plane
    £010.00 Commemorative Box
    -----------
    £566.50

    2a. Make sure Sky account is closed - done
    2b. Call for refund £1.74 - done; they are sending me a cheque

    3. Increase Income - done
    Applied for Shop n Scan
    Still doing four receipt apps, but now building up payouts to higher levels
    Doing Quench Your Thirst Surveys and Diary
    Was too ill to do Flucamp, but may apply again if fully well
    Suing government

    4. Look into Permitted Work and New Style ESA
    Permitted work = £120 per week after deductions/less than 16 hours. Usually increases every October.
    New style ESA arises with new circumstance. Disregards savings, but housing benefit is not passported.

    5. Issue pre-action letter to BT, who are harassing me via various debt collection agencies for money NOT OWED: - done
    gavin.e.patterson@bt.com

    -------------------------------------------------------------------------------------------------------------------------------------------------------------

    BANK n SHOP WEDNESDAYS

    The idea here is to save time by doing trips to town all on Wednesdays.
    Also to plan shops so as to check spending priorities.

    28/02/18
    1. Update savings passbook with £5 repaid
    2. Transfer £10 extra to household a/c
    3. Buy dressing gown at £21.97+. Rejoin Complete Savings
    4. Any shopping at Asda via TCB and Wilko, via Complete Savings
    5. Buy silicone dish washing brush pad, to save money on Brillo pads, which don't last, from spending a/c
    6. Boots shop from 8am? Make list.

    -------------------------------------------------------------------------------------------------------------------------------------------------------------

    BUDGET

    Weekly Income

    125.55 Benefits
    006.00 Income From Apps and Bank Interest - weekly average in 2017
    ---------
    131.55

    Weekly Expenses

    (031.15) Debt Repayments
    (030.00) Spending Account: Food, Household, Toiletries & Misc.
    (025.00) Savings Account
    (016.21) Household Account: Emergency Fund, Broadband, Mobile, Home Building, Hobbies, Gifts
    (008.77) Gym
    (007.38) Electricity - Lumo tell me whether this is still the cheapest, based on usage and area
    (006.00) Clothing
    (005.43) Water
    (001.61) Tenants' Insurance
    ----------
    131.55
    ------------------------------------------------------------------------------------------------------------------------------------------------------------

    BUDGET FROM 12/04/18

    Weekly Income

    127.15 Benefits
    006.00 Income From Apps and Bank Interest - weekly average in 2017
    ---------
    133.15

    Weekly Expenses

    (031.15) Debt Repayments
    (030.00) Spending Account: Food, Household, Toiletries & Misc.
    (025.00) Savings Account
    (017.81) Household Account: Emergency Fund, Broadband, Mobile, Home Building, Hobbies, Gifts
    (008.77) Gym
    (007.38) Electricity
    (006.00) Clothing
    (005.43) Water
    (001.61) Tenants' Insurance
    ----------
    133.15
    ------------------------------------------------------------------------------------------------------------------------------------------------------------

    ACTUAL INCOME & EXPENDITURE

    Fortnight commencing 14/02/18
    251.10 Benefits - paid
    ------------------------------------------------------------------------------------
    027.28 Spending Account - paid
    023.55 Water - paid
    069.18 Violin Rosin - paid
    060.45 In-Branch Transfer to Household Account, to Carry Forward - paid
    028.75 Debt - paid
    050.00 Savings - paid

    Other funds:
    005.25 via Topcashback when ordering £25+, online, from Asda
    005.00 from Shoppix - paid
    005.00 from Vypr - paid
    002.50 from Quidco - processing

    -------------------------------------------------------------------------------------------------------------------------------------------------------------

    CASHFLOW FORECAST

    28/02/18
    251.10 Benefits
    060.45 Online Transfer From Household Account
    ------------------------------------------------------------------------------------
    060.00 Spending Account
    006.95 Insurance
    038.00 Gym
    027.33 Debt
    068.52 Debt
    032.00 Electricity
    028.75 Debt
    050.00 Savings

    14/03/18
    251.10 Benefits
    ------------------------------------------------------------------------------------
    060.00 Spending Account
    023.55 Water
    057.10 In-Branch Transfer to Household Account
    060.45 In-Branch Transfer to Household Account, to Carry Forward
    050.00 Savings

    28/03/18
    251.10 Benefits
    060.45 Online Transfer From Household Account
    ------------------------------------------------------------------------------------
    060.00 Spending Account
    006.95 Insurance
    027.33 Debt
    068.52 Debt
    038.00 Gym
    032.00 Electricity
    028.75 Debt
    050.00 Savings

    11/04/18
    254.06 Benefits (?) [£127.15 per week from 12/04]
    ------------------------------------------------------------------------------------
    060.00 Spending Account
    023.55 Water
    087.00 In-Branch Transfer to Household Account
    028.51 In-Branch Transfer to Household Account, to Carry Forward
    050.00 Savings

    25/04/18
    254.30 Benefits
    028.51 Online Transfer From Household Account
    ------------------------------------------------------------------------------------
    060.00 Spending Account
    027.33 Debt
    006.96 Insurance
    068.52 Debt
    038.00 Gym
    032.00 Electric
    050.00 Savings

    -------------------------------------------------------------------------------------------------------------------------------------------------------------

    DEBT REPAYMENTS - since 14/09/16

    _I__START__I_CURRENTIPAYMENTI

    1. £00,012.68 I £00,000.00 I £XXx.xx I Advertising
    2. £00,091.00 I £00,000.00 I £XXx.xx I Store Credit Account I Now closed
    3. £00,177.00 I £00,000.00 I £XXx.xx I Water + Court Costs
    4. £00,370.00 I £00,000.00 I £XXx.xx I Personal Loan
    5. £00,847.36 I £00,588.72 I £027.33 I Store Card
    6. £00,939.49 I £00,776.25 I £028.75 I Mobile Phone + Court Costs
    7. £02,208.92 I £01,815.46 I £068.52 I Credit Card
    -------------------I-----------------I------------I
    T. £04,646.45 I £03,180.43 I £124.60 I = £031.15 weekly

    REPAID SINCE 14/09/16: £01,466.02

    -------------------------------------------------------------------------------------------------------------------------------------------------------------

    DEBTS SETTLED BY MEANS OTHER THAN REPAYMENT

    _I__START__I_CURRENT_I

    1. £00,079.00 I £00,000.00 I Electricity I Paid by grant
    2. £00,124.47 I £00,000.00 I Mobile Phone I Was a dispute I Creditor wrote it off in the end
    -------------------I-----------------I
    T. £00,203.47 I £00,000.00 I
    -------------------------------------------------------------------------------------------------------------------------------------------------------------

    DEBTS NEVER OWED

    1. £00,022.63 I Telephone/Broadband I Per letter dated 24 August 2017 I Error of company
    2. £00,327.75 I Class 2 N.I. I Per letter dated 17/05/11 and others I Earnings were too low to have to pay
    3.£00,678.36 I Overdraft I Letters 2017 I Bank agreed not owed
    ------------------
    T. £01,228.74
    -------------------------------------------------------------------------------------------------------------------------------------------------------------

    DEBTS IN DISPUTE

    1. £00,259.92 I Telephone/Broadband I Per letters 23/11/17 on I Switched agents 11/02/18 after my complaint
    2. £00,298.40 I Telephone/Broadband I Per letter dated 22/02/16 I Not being chased
    3. £00,649.90 I Over Payment Of WTC I Per letter dated 29/09/17 and others I HMRC error I Not being chased
    4. £05,138.96 I Income Tax I Per letter and giro dated June 2014 I Not being chased
    5. £10,644.00 I Car loan & Ins.s I Multiple breaches I No resolution at Resolver I Not being chased
    ------------------
    T. £16,991.18
    -------------------------------------------------------------------------------------------------------------------------------------------------------------

    NODDLE CREDIT SCORE
    Updates on 20th

    Maximum score...............: 721
    Average score in my area: 621
    Average score in the UK..: 614

    Aug 2016: 497 = very poor
    Aug 2017: 508 = closer to very poor than poor
    Jan 2018: 525 = half way between very poor and poor

    -------------------------------------------------------------------------------------------------------------------------------------------------------------

    EXPERIAN CREDIT SCORE
    Updates on 4th

    Maximum score...............: 999

    Feb 2018: 621 = half way up poor

    -------------------------------------------------------------------------------------------------------------------------------------------------------------

    HOUSEHOLD ACCOUNT at 2.25% interest

    Emergency Fund, Broadband, Mobile, Home Building, Hobbies, Gifts


    Ad hoc payments from current a/c 1
    Max dep £0,250.00 pcm

    Not Needed:-
    £000.00 I April '18 Changeover to Universal Credit Fund

    "If you are already claiming, you will continue to receive benefits under the previous system unless there is a significant change affecting your claim." - from local council website.

    Needed:-
    £275.00 I Emergency Fund I Priority due to previous dental emergency
    £XXx.xx I Thermal Film For Kitchen Window I ASAP I Latest. end Nov '18
    £010.00 I Next Mobile Top-Up I Est. end April '18
    £160.00 I Broadband Renewal I Est. 21/09/18
    £xxx.xx I Kitchen Heater I Latest end Nov. '18

    At Bank

    _DATE__IBALANCEIPAYMENT_I

    29/12/17 I £0,240.00 I £0,240.00 I From bank a/c 1
    05/01/18 I £0,000.00 I £0,240.00 I Paid off smallest debt outstanding I 4-weekly £10 payments now go to this account
    06/01/18 I £0,043.70 I £0,043.70 I From bank a/c 1
    10/01/18 I £0,043.94 I £0,000.24 I Interest
    17/01/18 I £0,151.55 I £0,107.61 I From bank a/c 1
    24/01/18 I £0,142.19 I £0,009.36 I Withdrawn to buy items on cashback apps
    25/01/18 I £0,122.19 I £0,020.00 I Withdrawn to buy items on cashback apps
    27/01/18 I £0,107.19 I £0,015.00 I Withdrawn to buy items on cashback apps
    27/01/18 I £0,100.00 I £0,007.19 I Withdrawn to pay insurance
    30/01/18 I £0,014.00 I £0,086.00 I Withdrawn to buy piano
    01/02/18 I £0,001.00 I £0,013.00 I Withdrawn to meet general expenses
    10/02/18 I £0,001.13 I £0,000.13 I Interest
    16/02/18 I £0,061.58 I £0,060.45 I To Carry Forward

    ------------------------------------------------------------------------------------------------------------------------------------------------------------

    GENERAL SAVINGS at 2.25% interest

    On standing order from current a/c 1
    Max dep £0,250.00 pcm

    _DATE__IBALANCEIPAYMENT_I

    18/01/18 I £0,050.00 I £0,050.00 I Paid In I Passbook updated
    01/02/18 I £0,100.00 I £0,050.00 I Paid In I Passbook updated
    12/02/18 I £0,095.00 I £0,005.00 I Borrowed for expenses, prior to separating spending money
    15/02/18 I £0,145.00 I £0,050.00 I Paid In I Passbook updated
    16/02/18 I £0,150.00 I £0,005.00 I Repaid I
    01/03/18 I £0,200.00 I £0,050.00 I
    15/03/18 I £0,250.00 I £0,050.00 I
    29/03/18 I £0,300.00 I £0,050.00 I
    12/04/18 I £0,350.00 I £0,050.00 I
    26/04/18 I £0,400.00 I £0,050.00 I
    10/05/18 I £0,450.00 I £0,050.00 I
    24/05/18 I £0,500.00 I £0,050.00 I
    07/06/18 I £0,550.00 I £0,050.00 I
    21/06/18 I £0,600.00 I £0,050.00 I
    05/07/18 I £0,650.00 I £0,050.00 I
    19/07/18 I £0,700.00 I £0,050.00 I
    02/08/18 I £0,750.00 I £0,050.00 I
    16/08/18 I £0,800.00 I £0,050.00 I
    30/08/18 I £0,850.00 I £0,050.00 I
    13/09/18 I £0,900.00 I £0,050.00 I
    27/09/18 I £0,950.00 I £0,050.00 I
    11/10/18 I £1,000.00 I £0,050.00 I
    25/10/18 I £1,050.00 I £0,050.00 I
    31/10/18 I £X,Xxx.xx I £X,Xxx.xx I Annual Interest
    08/11/18 I £1,100.00 + Annual Interest I £0,050.00 I
    22/11/18 I £1,150.00 + Annual Interest I £0,050.00 I
    06/12/18 I £1,200.00 + Annual Interest I £0,050.00 I
    18/12/18 I Matures

    -------------------------------------------------------------------------------------------------------------------------------------------------------------
    Last edited by miracleworker; 23-02-2018 at 12:34 PM.
Page 2
    • sourcrates
    • By sourcrates 25th Jun 17, 10:38 AM
    • 13,227 Posts
    • 12,641 Thanks
    sourcrates
    Why have you deleted 90% of the thread ?

    It just does not make any sense to people reading it now.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
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