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  • FIRST POST
    • beebrook
    • By beebrook 12th Sep 17, 2:08 PM
    • 26Posts
    • 11Thanks
    beebrook
    Too much month and the end of the money
    • #1
    • 12th Sep 17, 2:08 PM
    Too much month and the end of the money 12th Sep 17 at 2:08 PM
    Right, so. Looking for advice without the usual bods on here telling me how it's all my fault and to just 'pay it back'. That isn't advice.

    Essentially, I've got a stable monthly income of £1576.67pcm. I also get small commission payments (about £10 per month), small income from freelancing (£10 per month) and I normally get an annual bonus (between £500 and £1500 per year).

    Based on the below outgoings, I am left with -£137.28 each month (if I don't take into account non-guaranteed earnings). I don't need to be a Money Saving Expert to know that isn't going to work long term. It also doesn't include living costs and debt can't finance those.

    I want to know based on the below what can be done to reduce my spend and solve the debt problem. It's already spiralled beyond control, I know this, please don't be smug and tell me it has. Just tell me, if you can, how I can go about starting to get back on the right foot.

    Monthly outgoings:

    Rent: £598 (contracted for the next two years)
    Council Tax: £51
    Water: £30
    Electricity (no gas): £17.50
    Sky: £35 (contracted for the next 18 months)
    Vodafone: £115 (contract for the next 16 months roughly)

    Total: £847.50

    Credit repayments:

    Amigo: £121.97 (£2556 remaining)
    WageDay Advance: £271.80 (final payment)
    Sunny Loan 1: £89.42 (2 payments remaining, £137.31 to settle)
    Sunny Loan 2: £49.45 (6 payments remaining, £165.60 to settle)
    Pounds to Pocket: £118.81 (11 payments remaining, Loan Amount £700)
    Nationwide: £200 overdraft
    Aqua Credit Card: £15 (balance £816.80)

    Total: £866.45


Page 1
    • Destabilising
    • By Destabilising 12th Sep 17, 2:22 PM
    • 29 Posts
    • 19 Thanks
    Destabilising
    • #2
    • 12th Sep 17, 2:22 PM
    • #2
    • 12th Sep 17, 2:22 PM
    What I can see here, these are all high interest loans; would it be beneficial to you to shop around for a debt consolidation loan? That way, you're paying off one person with potentially a much lower interest rate.
    • kazwookie
    • By kazwookie 12th Sep 17, 2:29 PM
    • 9,264 Posts
    • 117,667 Thanks
    kazwookie
    • #3
    • 12th Sep 17, 2:29 PM
    • #3
    • 12th Sep 17, 2:29 PM
    What is the package with Vodaphone at £115 per month.?

    I would ring them up and re negioate
    Sun, Sea
  • National Debtline
    • #4
    • 12th Sep 17, 2:32 PM
    • #4
    • 12th Sep 17, 2:32 PM
    Hi beebrook,


    I would suggest that you do a full SOA using the sticky in this thread to help you. When you do a SOA though, you should list your income (this can include commission if it is reasonably reliable) and all of your living costs first. To begin with, you should ignore your debts and budget for all of your bills, plus travel, phone, food, clothes, hobbies, emergencies etc. Then you can start to see how much you have to pay towards the debts.


    As the majority of these debts are short term loans, it may be the case that you would struggle to get credit off a high street lender now to consolidate, and refinancing can be quite an expensive option anyway. For one thing, when people refinance there is the issue of paying interest on top of interest and charges.


    So, if you do your SOA and there isn't enough to pay all of the minimum payments you could talk to a free debt charity about renegotiating with the debts, either yourself or with a free DMP. Or possibly an insolvency option, depending on what disposable money you have. Best of luck,


    Laura
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • beebrook
    • By beebrook 12th Sep 17, 2:35 PM
    • 26 Posts
    • 11 Thanks
    beebrook
    • #5
    • 12th Sep 17, 2:35 PM
    • #5
    • 12th Sep 17, 2:35 PM
    What I can see here, these are all high interest loans; would it be beneficial to you to shop around for a debt consolidation loan? That way, you're paying off one person with potentially a much lower interest rate.
    Originally posted by Destabilising
    The only people that will lend large sums to me are guarantor lenders. I don't have a guarantor.
    • beebrook
    • By beebrook 12th Sep 17, 2:39 PM
    • 26 Posts
    • 11 Thanks
    beebrook
    • #6
    • 12th Sep 17, 2:39 PM
    • #6
    • 12th Sep 17, 2:39 PM
    What is the package with Vodaphone at £115 per month.?

    I would ring them up and re negioate
    Originally posted by kazwookie
    It's two lines, and they're contrat for another 16 months. You can't reduce the line rental, because they use that guaranteed spend to pay for the phone they give you for 'free'.

    The situation was much worse - I had a £500 overdraft being eaten up before. I sold one of the phones to bridge the gap when Nationwide reduced the overdraft to £200.
    • sourcrates
    • By sourcrates 12th Sep 17, 2:41 PM
    • 11,896 Posts
    • 11,396 Thanks
    sourcrates
    • #7
    • 12th Sep 17, 2:41 PM
    • #7
    • 12th Sep 17, 2:41 PM
    The only people that will lend large sums to me are guarantor lenders. I don't have a guarantor.
    Originally posted by beebrook
    ...........And that has probebly saved you from an even worse fate !!

    Full statement of affairs is required before any serious advice can be given.

    Link here :

    http://www.stoozing.com/calculator/soa.php
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    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 Legal advice see : http://legalbeagles.info/
    • beebrook
    • By beebrook 12th Sep 17, 2:57 PM
    • 26 Posts
    • 11 Thanks
    beebrook
    • #8
    • 12th Sep 17, 2:57 PM
    • #8
    • 12th Sep 17, 2:57 PM
    [font=courier new]Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1
    Number of children in household......... 0
    Number of cars owned.................... 0

    Monthly Income Details

    Monthly income after tax................ 1576.76
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1576.76


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 598
    Management charge (leasehold property).. 0
    Council tax............................. 52
    Electricity............................. 17.5
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 30
    Telephone (land line)................... 10
    Mobile phone............................ 115
    TV Licence.............................. 13
    Satellite/Cable TV...................... 15
    Internet Services....................... 15
    Groceries etc. ......................... 100
    Clothing................................ 0
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 100
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 15
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0
    Total monthly expenses.................. 1080.5



    Assets

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


    No Secured nor Hire Purchase Debts


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Aqua Credit Card...............817.......15........36
    WageDay Advance................271.8.....271.8.....1286
    Sunny..........................302.91....139...... .1286
    Family Loan....................250.......0.........0
    Amigo Loan.....................2556......122.......0
    Pounds to Pocket...............1306.85...118.8.....275[b]
    • beebrook
    • By beebrook 12th Sep 17, 2:59 PM
    • 26 Posts
    • 11 Thanks
    beebrook
    • #9
    • 12th Sep 17, 2:59 PM
    • #9
    • 12th Sep 17, 2:59 PM
    ...........And that has probebly saved you from an even worse fate !!

    Full statement of affairs is required before any serious advice can be given.

    Link here :

    http://www.stoozing.com/calculator/soa.php
    Originally posted by sourcrates
    See below.
    • EssexHebridean
    • By EssexHebridean 12th Sep 17, 3:29 PM
    • 7,753 Posts
    • 40,184 Thanks
    EssexHebridean
    OK - first up maybe step back on the defensiveness a bit - it's extremely rare that anyone on here will tell someone who wants to sort their situation that "it's their fault and they should just pay it back" - what you WILL get though is honest advice and some of that may not be what you want to hear - that doesn't mean people are "being smug" though - it just means that a lot of the regular posters/advisors on here have been there, done that, and bought the t-shirt and are now in a position to KNOW that the advice works.

    Right, so. Looking for advice without the usual bods on here telling me how it's all my fault and to just 'pay it back'. That isn't advice.

    Essentially, I've got a stable monthly income of £1576.67pcm. I also get small commission payments (about £10 per month), small income from freelancing (£10 per month) and I normally get an annual bonus (between £500 and £1500 per year).

    Based on the below outgoings, I am left with -£137.28 each month (if I don't take into account non-guaranteed earnings). I don't need to be a Money Saving Expert to know that isn't going to work long term. It also doesn't include living costs and debt can't finance those.

    I want to know based on the below what can be done to reduce my spend and solve the debt problem. It's already spiralled beyond control, I know this, please don't be smug and tell me it has. Just tell me, if you can, how I can go about starting to get back on the right foot.

    Monthly outgoings:

    Rent: £598 (contracted for the next two years)
    Council Tax: £51
    Water: £30
    Electricity (no gas): £17.50
    Sky: £35 (contracted for the next 18 months)
    Vodafone: £115 (contract for the next 16 months roughly)

    Total: £847.50

    Credit repayments:

    Amigo: £121.97 (£2556 remaining)
    WageDay Advance: £271.80 (final payment)
    Sunny Loan 1: £89.42 (2 payments remaining, £137.31 to settle)
    Sunny Loan 2: £49.45 (6 payments remaining, £165.60 to settle)
    Pounds to Pocket: £118.81 (11 payments remaining, Loan Amount £700)
    Nationwide: £200 overdraft
    Aqua Credit Card: £15 (balance £816.80)

    Total: £866.45
    Originally posted by beebrook
    What I can see here, these are all high interest loans; would it be beneficial to you to shop around for a debt consolidation loan? That way, you're paying off one person with potentially a much lower interest rate.
    Originally posted by Destabilising
    Destablising no offence but PLEASE don't post advising people to look at consolidation loans - particularly before they have even posted an SOA! For the majority of people consolidation is not a good option - it is simply increasing the problem, down the line. Not what we are here for!

    Comments on SOA in red as usual beebrook:
    [font=courier new]Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1
    Number of children in household......... 0
    Number of cars owned.................... 0

    Monthly Income Details

    Monthly income after tax................ 1576.76
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1576.76


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 598
    Management charge (leasehold property).. 0
    Council tax............................. 52 Single person discount applied, paid over 12 months rather than 10?
    Electricity............................. 17.5 is this sustainable? If you use electricity for heating and cooking as well as the standard lighting etc then that's drastically too low I would suggest. Electric heating and ovens are notoriously power-hungry, sadly.
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 30 metered?
    Telephone (land line)................... 10 Is your mobile signal at home reliable enough to ditch the landline?
    Mobile phone............................ 115 Ouchy - that's a bit of a killer.
    TV Licence.............................. 13 12.12 I think?
    Satellite/Cable TV...................... 15 Bluntly - this needs to go.
    Internet Services....................... 15 Shop about and get the cheapest deal you can - alternatively does your mobile deal include a reasonable amount of data and allow tethering? if so bin altogether and use mobile data
    Groceries etc. ......................... 100 You could probably shave this a bit but not massively
    Clothing................................ 0 Need something here really even just £5 a month - everyone needs new pants occasionally!
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 100 Any way of reducing this at all? Add more walking into your routine travel perhaps?
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0 You need this - it can be had from around £6 per month and if it all goes horribly wrong you'll be glad of it.
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0 Nothing? You never buy presents for anyone?
    Haircuts................................ 15 Not every month any more - look at very low maintenance styles and then explore local colleges for cheap haircuts.
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0
    Total monthly expenses.................. 1080.5



    Assets

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


    No Secured nor Hire Purchase Debts


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Aqua Credit Card...............817.......15........36
    WageDay Advance................271.8.....271.8.....1286 It makes me SO cross that these shysters are allowed to exist.
    Sunny..........................302.91....139...... .1286 See above comment under "shysters"
    Family Loan....................250.......0.........0
    Amigo Loan.....................2556......122.......0 no interest?
    Pounds to Pocket...............1306.85...118.8.....275[b]
    Originally posted by beebrook

    At a quick glance and allowing that the "balancing section" off the bottom of the standard SOA has been omitted, if you get that wageday advance debt shifted this month as you plan, then it looks like you can meet the required payments on the debts? You will have to pay something short this month to make it, but that extra £271 a month will make all the difference going forwards. The fact that you've got a workable budget in place now should mean you don;t need to dip into payday loan territory again now too - it's vital that you knock those on the head - they're evil, but you are no doubt well aware of that now. You need to stick to that budget like glue - and start setting aside a small amount each month to work as an emergency fund as well - as someone who rents and doesn't run a car maybe aim for something as small as a £200 emergency pot to start with.

    Investigate whether any of your payday loan accounts might be eligible for you to look at going the compensation route too - there is another thread on that on the board that you may already have found.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£504.92 (29/08/17)
    • EssexHebridean
    • By EssexHebridean 12th Sep 17, 3:54 PM
    • 7,753 Posts
    • 40,184 Thanks
    EssexHebridean
    Just one other thing noted - the Amigo loan you now have - is that the one that you previously posted asking for advice on here? Or an earlier one that you're still paying back?

    If that is relatively new, I assume that you have sorted the issue with your rent/unscrupulous "friends" etc and the rent you are paying is now just for you.

    Final question - your SOA says it's just for one person - your other thread suggests that it should be for two people in the household though? If you are sharing with a partner - particularly if that person is also involved with the situation which has caused you some of the problems - it makes sense for you to work together on getting things sorted.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£504.92 (29/08/17)
    • beebrook
    • By beebrook 12th Sep 17, 3:56 PM
    • 26 Posts
    • 11 Thanks
    beebrook
    OK - first up maybe step back on the defensiveness a bit - it's extremely rare that anyone on here will tell someone who wants to sort their situation that "it's their fault and they should just pay it back" - what you WILL get though is honest advice and some of that may not be what you want to hear - that doesn't mean people are "being smug" though - it just means that a lot of the regular posters/advisors on here have been there, done that, and bought the t-shirt and are now in a position to KNOW that the advice works.





    Destablising no offence but PLEASE don't post advising people to look at consolidation loans - particularly before they have even posted an SOA! For the majority of people consolidation is not a good option - it is simply increasing the problem, down the line. Not what we are here for!

    Comments on SOA in red as usual beebrook:



    At a quick glance and allowing that the "balancing section" off the bottom of the standard SOA has been omitted, if you get that wageday advance debt shifted this month as you plan, then it looks like you can meet the required payments on the debts? You will have to pay something short this month to make it, but that extra £271 a month will make all the difference going forwards. The fact that you've got a workable budget in place now should mean you don;t need to dip into payday loan territory again now too - it's vital that you knock those on the head - they're evil, but you are no doubt well aware of that now. You need to stick to that budget like glue - and start setting aside a small amount each month to work as an emergency fund as well - as someone who rents and doesn't run a car maybe aim for something as small as a £200 emergency pot to start with.

    Investigate whether any of your payday loan accounts might be eligible for you to look at going the compensation route too - there is another thread on that on the board that you may already have found.
    Originally posted by EssexHebridean
    Thanks for this. Re: the defensiveness - I got a lot of 'holier than thou' responses on the loan section of this forum before, so I wanted to pre empt them. Sorry if it came across bitter.

    I'll be cut close to the bone, but I reckon if I can get the WageDay Advance loan out of the way I can get through this with some will-power.

    My question is this: How do I pay off the WageDay Advance loan?

    Whenever these things have caught up with me previously, I've ended up taking finance from elsewhere (another payday loan). But then it spirals and that's why I ended up taking out the Amigo loan to consolidate. That's not an option any more, no one (and rightly so) will lend me any more money.

    I will respond to the comments in red on the SOA seperately.
    • beebrook
    • By beebrook 12th Sep 17, 4:02 PM
    • 26 Posts
    • 11 Thanks
    beebrook
    Just one other thing noted - the Amigo loan you now have - is that the one that you previously posted asking for advice on here? Or an earlier one that you're still paying back?

    If that is relatively new, I assume that you have sorted the issue with your rent/unscrupulous "friends" etc and the rent you are paying is now just for you.

    Final question - your SOA says it's just for one person - your other thread suggests that it should be for two people in the household though? If you are sharing with a partner - particularly if that person is also involved with the situation which has caused you some of the problems - it makes sense for you to work together on getting things sorted.
    Originally posted by EssexHebridean
    We've resolved the tenancy issue now thankfully, the rent we are paying is £598 each for a different place.

    The Amigo loan was an earlier one I'm still paying back - to consolidate other payday loans.

    There's another person in the household, my fiancee, but the debt I am in isn't really anything to do with her. She dealt with the tenancy situation in a much better way than I did, it's because of her we have the finance to move somewhere else.

    I resorted to borrowing and then borrowing to pay for the borrowing.
    • EssexHebridean
    • By EssexHebridean 12th Sep 17, 4:02 PM
    • 7,753 Posts
    • 40,184 Thanks
    EssexHebridean
    Yep - seen that other thread now and get where you were coming from.

    Pay off the Wageday loan by not paying the full amount to another one would be my suggestion - obviously you can't short-pay Amigo as it will leave your guarantor liable, so Pounds To Pocket are the logical choice to leave "disappointed" for a month I'd suggest. (Lower interest than Sunny). I know missing even part of a payment is probably a nervewracking thought but it will be for a single month and I can't see another way you can do it.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£504.92 (29/08/17)
    • EssexHebridean
    • By EssexHebridean 12th Sep 17, 4:06 PM
    • 7,753 Posts
    • 40,184 Thanks
    EssexHebridean
    We've resolved the tenancy issue now thankfully, the rent we are paying is £598 each for a different place.

    The Amigo loan was an earlier one I'm still paying back - to consolidate other payday loans.

    There's another person in the household, my fiancee, but the debt I am in isn't really anything to do with her. She dealt with the tenancy situation in a much better way than I did, it's because of her we have the finance to move somewhere else.

    I resorted to borrowing and then borrowing to pay for the borrowing.
    Originally posted by beebrook
    OK - got you - it might be worth editing the SOA to add a note about this as some of the stuff on there is obviously not going to be obvious (ie the electric being unsustainably low - it's not once you account for that only be half of what is paid!) and will stop others commenting the same as I have on stuff.

    it also sheds a different light on food spend - there IS a saving to be made if that is only half of your monthly budget.

    Very glad to hear that you have sorted the other issues - nasty situation all round and as you said elsewhere, one you will learn from.

    The good news in all of this is that you've already pretty much made ALL the mistakes, so you know already the things that don't work. You've also a shining example to the likes of Destabilised above why we do NOT recommend consolidation - it's not a cure is it, it's just a sticking plaster. It's all fixable though - so well done for looking to sort it out.

    (You'll find that mostly the regulars on DFW are a far more lovable bunch than some of those elsewhere!)
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£504.92 (29/08/17)
    • beebrook
    • By beebrook 12th Sep 17, 4:11 PM
    • 26 Posts
    • 11 Thanks
    beebrook
    “ [font=courier new]Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1
    Number of children in household......... 0
    Number of cars owned.................... 0

    Monthly Income Details

    Monthly income after tax................ 1576.76
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1576.76


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 598
    Management charge (leasehold property).. 0
    Council tax............................. 52 The total is £104 per month for myself and fiancee.
    Electricity............................. 17.5 This figure should be doubled, so £35
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 30 Fixed fee, contracted for the next year.
    Telephone (land line)................... 10 We don't even use the line for calls, it's just where the broadband sits.
    Mobile phone............................ 115 'Tis a killer.
    TV Licence.............................. 13 Should be £12.12
    Satellite/Cable TV...................... 15 Absolutely this needs to go - but is contract for 18 months.
    Internet Services....................... 15 Can't reduce or remove this - in contract for 18 months
    Groceries etc. ......................... 100 Worth reducing to £85?
    Clothing................................ 0 Call it £5.
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 100 Let's try walking to/from work (about 2 miles) twice a week.
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0 Never considered it. Will look into it.
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0 I've had to cut out being generous. It makes me very miserable to not buy people things, and up until recently I've been buckling and relying on credit to do this.
    Haircuts................................ 15 To be fair, everyone tells me this is expensive. It's just the standard charge at my local barbers. May need to find somone else.
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0
    Total monthly expenses.................. 1080.5



    Assets

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


    No Secured nor Hire Purchase Debts


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Aqua Credit Card...............817.......15........36
    WageDay Advance................271.8.....271.8.....1286 1286% is outrageous, yes.
    Sunny..........................302.91....139...... .1286
    Family Loan....................250.......0.........0
    Amigo Loan.....................2556......122.......0 Sorry, 50% interest on this.
    Pounds to Pocket...............1306.85...118.8.....275[b]
    • beebrook
    • By beebrook 12th Sep 17, 4:15 PM
    • 26 Posts
    • 11 Thanks
    beebrook
    Yep - seen that other thread now and get where you were coming from.

    Pay off the Wageday loan by not paying the full amount to another one would be my suggestion - obviously you can't short-pay Amigo as it will leave your guarantor liable, so Pounds To Pocket are the logical choice to leave "disappointed" for a month I'd suggest. (Lower interest than Sunny). I know missing even part of a payment is probably a nervewracking thought but it will be for a single month and I can't see another way you can do it.
    Originally posted by EssexHebridean
    If I don't pay the PTP loan this month, won't that

    1) Leave a very big bad mark on my credit score
    2) Increase the amount I pay overall
    3) Just double the amount due next month, so in effect just 'delay' the problem by a month?

    Sorry in advance if I don't know what I'm talking about...
    • thriftylass
    • By thriftylass 12th Sep 17, 4:29 PM
    • 2,986 Posts
    • 24,399 Thanks
    thriftylass
    “ [font=courier new]Statement of Affairs and Personal Balance Sheet[B]


    Other travel............................ 100 Let's try walking to/from work (about 2 miles) twice a week.
    Originally posted by beebrook
    Try even more, it's a great mood booster and wakes you up in the morning. 2 miles really isn't that far, should take no more than half an hour probably less. I used to walk that each way every day to work for years. Get a second hand bike/borrow one if the road's not to crazy and dark at night?
    • beebrook
    • By beebrook 12th Sep 17, 5:06 PM
    • 26 Posts
    • 11 Thanks
    beebrook
    Try even more, it's a great mood booster and wakes you up in the morning. 2 miles really isn't that far, should take no more than half an hour probably less. I used to walk that each way every day to work for years. Get a second hand bike/borrow one if the road's not to crazy and dark at night?
    Originally posted by thriftylass
    Just looked on Google maps. It's a half an hour walk.

    Doing it ten times a month would save £30. No brainer.
    • leslieknope
    • By leslieknope 12th Sep 17, 5:08 PM
    • 247 Posts
    • 339 Thanks
    leslieknope
    i've not had payday loans but i'm sure there's something about claiming back costs from them if you can prove they lent to you despite knowing you were not in a financial position to pay them back?

    http://forums.moneysavingexpert.com/showthread.php?t=5289150

    look into it? i haven't read through the thread but you might find something to help you.
    CCCC #33: £42/£240
    DFW: £4355/£4405
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