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  • FIRST POST
    • fay66
    • By fay66 25th Nov 17, 5:28 PM
    • 663Posts
    • 1,571Thanks
    fay66
    Over the hill and drowning
    • #1
    • 25th Nov 17, 5:28 PM
    Over the hill and drowning 25th Nov 17 at 5:28 PM
    [tt]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 1 car pip hp

    Monthly Income Details

    Monthly income after tax................ 1456
    Partners monthly income after tax....... 0
    Benefits................................ 374
    Other income............................ 0
    Total monthly income.................... 1830


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 450
    Management charge (leasehold property).. 0
    Council tax............................. 156 includes 60 debt paid jan 18
    Electricity............................. 28
    Gas..................................... 28
    Oil..................................... 0
    Water rates............................. 25
    Telephone (land line)................... 0
    Mobile phone............................ 88, ee mobile and pad contract ends jan 19
    TV Licence.............................. 12
    Satellite/Cable TV...................... 58
    Internet Services....................... 0
    Groceries etc. ......................... 200 includes dogs cats
    Clothing................................ 50
    Petrol/diesel........................... 120 miles 250 ew
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 10
    Pet insurance/vet bills................. 25
    Buildings insurance..................... 0
    Contents insurance...................... 20
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 50
    Haircuts................................ 30
    Entertainment........................... 60
    Holiday................................. 30
    Emergency fund.......................... 50
    Total monthly expenses.................. 1490



    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
    capital one....................200.......10........34.9
    aqua...........................500.......48....... .34.9
    ocean..........................1000......27....... .34.94
    118 118 loan...................2788......145.......71.3
    studio.........................100.......0........ .0
    fashion world..................200.......0.........0
    littlewoods....................450.......20....... .0
    very...........................300.......17....... .0
    marbles........................4500......189...... .34.9
    Total unsecured debts..........10038.....456.......-



    Monthly Budget Summary

    Total monthly income.................... 1,830
    Expenses (including HP & secured debts). 1,490
    Available for debt repayments........... 340
    Monthly UNsecured debt repayments....... 456
    Amount short for making debt repayments. -116


    Personal Balance Sheet Summary
    Total assets (things you own)........... 0
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -10,038
    Net Assets.............................. -10,038


    [/tt]
    Last edited by fay66; 25-11-2017 at 6:07 PM.
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
Page 1
    • fay66
    • By fay66 25th Nov 17, 5:30 PM
    • 663 Posts
    • 1,571 Thanks
    fay66
    • #2
    • 25th Nov 17, 5:30 PM
    a bit of me
    • #2
    • 25th Nov 17, 5:30 PM
    Im 51 and drowning, feeling bizarre back in a mess, female, empty nest syndrome , 2 dogs 2 cats, work full time 40 hours week, poor health and trying to get my finances back in order, no idea what to do next
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • starting_again_in_the_sun
    • By starting_again_in_the_sun 25th Nov 17, 6:00 PM
    • 49 Posts
    • 180 Thanks
    starting_again_in_the_sun
    • #3
    • 25th Nov 17, 6:00 PM
    • #3
    • 25th Nov 17, 6:00 PM
    Hi Fay,
    Well done for asking for help!

    You may get more replies by posting on the main dfw page.

    Things that stick out to me:
    - phone contract: phone EE and say you are struggling to pay, they may reduce.
    - Is cable TV in contract? It's very expensive!
    - Grocery bill is huge for one person, is there a reason for this?
    - cut clothing to basics.
    - you spend a lot on petrol but have nothing listed for maintenance.
    - present budget is high.

    Good luck
    • fay66
    • By fay66 25th Nov 17, 6:27 PM
    • 663 Posts
    • 1,571 Thanks
    fay66
    • #4
    • 25th Nov 17, 6:27 PM
    updated soa
    • #4
    • 25th Nov 17, 6:27 PM
    You may get more replies by posting on the main dfw page.

    Things that stick out to me:
    - phone contract: phone EE and say you are struggling to pay, they may reduce. - contract until jan 19
    - Is cable TV in contract? It's very expensive! sky includes broadband and landline , tv in contract until 2019
    - Grocery bill is huge for one person, is there a reason for this? yes 2 cats and 2 dogs and canteen food averaging 3.50 a meal
    - cut clothing to basics.
    - you spend a lot on petrol but have nothing listed for maintenance. 50 miles each day to work
    - present budget is high.

    Good luck [/QUOTE]
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • starting_again_in_the_sun
    • By starting_again_in_the_sun 25th Nov 17, 6:39 PM
    • 49 Posts
    • 180 Thanks
    starting_again_in_the_sun
    • #5
    • 25th Nov 17, 6:39 PM
    • #5
    • 25th Nov 17, 6:39 PM
    Even though you are in a contract, it is worth contacting both EE and Sky to say you are in financial difficulty. They may offer you a reduction, if you don't ask you don't get!

    Can you take food to work instead? £3.50 is a lot for one meal. How much of that is on the pets?

    If you are travelling 50 miles a day, you really need to budget for maintenance.
    • Chelleby
    • By Chelleby 25th Nov 17, 6:44 PM
    • 4 Posts
    • 7 Thanks
    Chelleby
    • #6
    • 25th Nov 17, 6:44 PM
    Stay strong
    • #6
    • 25th Nov 17, 6:44 PM
    Hello Fay. Iím also 51 and am in a mess. However no dog or cats. Couldnít afford them. Offer your creditors a token payment and see what they say. I am currently in debt with £9000 and also wirk 40 hrs a week. I feel I go to work to pay bills. I am in the process of getting myself better and debt free. It will take me 3 years but I need to do it . Itís hard but youíll get there ..
    • WannabeFree
    • By WannabeFree 25th Nov 17, 6:52 PM
    • 412 Posts
    • 2,825 Thanks
    WannabeFree
    • #7
    • 25th Nov 17, 6:52 PM
    • #7
    • 25th Nov 17, 6:52 PM
    [tt]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 1 car pip hp

    Monthly Income Details

    Monthly income after tax................ 1456
    Partners monthly income after tax....... 0
    Benefits................................ 374
    Other income............................ 0
    Total monthly income.................... 1830


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 450
    Management charge (leasehold property).. 0
    Council tax............................. 156 includes 60 debt paid jan 18
    Electricity............................. 28
    Gas..................................... 28
    Oil..................................... 0
    Water rates............................. 25
    Telephone (land line)................... 0
    Mobile phone............................ 88, ee mobile and pad contract ends jan 19 I know you're in contract but speak to them. You can't afford this
    TV Licence.............................. 12
    Satellite/Cable TV...................... 58 Same as above. Speak to them.
    Internet Services....................... 0
    Groceries etc. ......................... 200 includes dogs cats This can be lower
    Clothing................................ 50 Go back to basics until you're debt's paid off you can't afford £50 a month right now.
    Petrol/diesel........................... 120 miles 250 ew
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0 I know its through PIP so does cover everything that needs repairing?
    Car parking............................. 0 Never?
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 10
    Pet insurance/vet bills................. 25
    Buildings insurance..................... 0
    Contents insurance...................... 20 Shop around and use cashback sites
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 50 You should lower this until your debts are paid off
    Haircuts................................ 30 Can you go an extra week in between etc to make it less expense?
    Entertainment........................... 60
    Holiday................................. 30 This isn't loads but while you don't have enough coming in to cover outgoings you can't afford this.
    Emergency fund.......................... 50 Do you actually save this?
    Total monthly expenses.................. 1490



    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
    capital one....................200.......10........34.9
    aqua...........................500.......48....... .34.9
    ocean..........................1000......27....... .34.94
    118 118 loan...................2788......145.......71.3
    studio.........................100.......0........ .0
    fashion world..................200.......0.........0
    littlewoods....................450.......20....... .0
    very...........................300.......17....... .0
    marbles........................4500......189...... .34.9
    Total unsecured debts..........10038.....456.......-



    Monthly Budget Summary

    Total monthly income.................... 1,830
    Expenses (including HP & secured debts). 1,490
    Available for debt repayments........... 340
    Monthly UNsecured debt repayments....... 456
    Amount short for making debt repayments. -116
    You need to at least make this balance

    Personal Balance Sheet Summary
    Total assets (things you own)........... 0
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -10,038
    Net Assets.............................. -10,038


    [/tt]
    Originally posted by fay66
    There is things that could be less see my comments in red. However it isn't that extreme.

    Speak to a debt charity like Stepchange. Not one that charges you.
    They will be best to advise you what to do and how to get out.

    Remember this is the hardest step and the only way from here is up. There is light at the end of the tunnel x
    ďOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.Ē
    • enthusiasticsaver
    • By enthusiasticsaver 25th Nov 17, 6:55 PM
    • 4,837 Posts
    • 9,138 Thanks
    enthusiasticsaver
    • #8
    • 25th Nov 17, 6:55 PM
    • #8
    • 25th Nov 17, 6:55 PM
    There's are some areas to cut until you get some of the debt gone. Obviously your biggest issue is too much debt. Have you gone Bankrupt before? Presumably you cannot get any 0% deals?

    EE is too expensive and you can try asking to come out of the deal due to financial difficulties. Groceries are too high for one person although I assume some is for the pets. Can you get cheaper cat/dog food?

    You say you save for holidays presents and emergency fund but there is no cash so presumably this does not happen? Is car running costs covered under PIP? Can you cancel the satellite TV.

    At those rates of interest I think the debt will very quickly rise so you may need to look at a debt solution again. If you do I strongly recommend no more store cards or credit cards. Have you tried ringing stepchange?
    2 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Kitten868
    • By Kitten868 25th Nov 17, 8:12 PM
    • 846 Posts
    • 1,727 Thanks
    Kitten868
    • #9
    • 25th Nov 17, 8:12 PM
    • #9
    • 25th Nov 17, 8:12 PM
    Please please please ring a debt charity like step change or visit their website. Those interest rates are awful. Have a read up about DMPs on here. You'll be shocked by how relieved people are when they start them. It will all be ok. You'll find it easier once you can manage your debts xxx
    Loan 1 £7100/£8000
    Loan 2 £5100/£5800
    Total £12200/£13800 12% PAID
    • UncannyScot
    • By UncannyScot 25th Nov 17, 9:09 PM
    • 879 Posts
    • 5,116 Thanks
    UncannyScot
    Hi and welcome

    Just want to echo the good advice given so far...
    get FREE debt / financial advice from the likes of your local CAB or StepChange
    reduce your outgoings and bills as much as possible
    make sure all your essentials are being covered
    look at a DMP or other solutions that may be suggested by CAB or StepChange.

    We are all here to help and we are not judging or criticising you... we are all on the same journey and just offering our advice.

    Please join in and visit (read / comment in) other DFW diaries
    We are a very welcoming community here
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • fay66
    • By fay66 25th Nov 17, 9:30 PM
    • 663 Posts
    • 1,571 Thanks
    fay66
    Even though you are in a contract, it is worth contacting both EE and Sky to say you are in financial difficulty. They may offer you a reduction, if you don't ask you don't get!

    Can you take food to work instead? £3.50 is a lot for one meal. How much of that is on the pets?

    If you are travelling 50 miles a day, you really need to budget for maintenance.
    Originally posted by starting_again_in_the_sun
    its a motability car,
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • starting_again_in_the_sun
    • By starting_again_in_the_sun 25th Nov 17, 9:37 PM
    • 49 Posts
    • 180 Thanks
    starting_again_in_the_sun
    its a motability car,
    Originally posted by fay66
    Ok, thanks for clarifying, that's one less thing to worry about.

    I hope you are starting to feel more positive now.
    • fay66
    • By fay66 26th Nov 17, 11:17 AM
    • 663 Posts
    • 1,571 Thanks
    fay66
    Woke up late, one of those days you dont want to get out of bed, but my little ray of sunshine my westie,, makes it possible, thought about the food budgeting maybe I can reduce this, ill ring ee up and see what they say, think ive been ripped off but still another year, sky is basic package with phone and landline and calls, i suppose just my income doesnt make it easier and I do have a little social life, like yesterday went for a lunch with friends and quiche with side salad was 8.95 . and a pop on top was 2.55.
    ps Im 51
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • fay66
    • By fay66 26th Nov 17, 11:20 AM
    • 663 Posts
    • 1,571 Thanks
    fay66
    Hello Chelleby
    Hello Fay. Iím also 51 and am in a mess. However no dog or cats. Couldnít afford them. Offer your creditors a token payment and see what they say. I am currently in debt with £9000 and also wirk 40 hrs a week. I feel I go to work to pay bills. I am in the process of getting myself better and debt free. It will take me 3 years but I need to do it . Itís hard but youíll get there ..
    Originally posted by Chelleby
    Nice to converse with you, do you have a plan as well ? it sucks doesnt it , if we have a holiday it has to go on tick , I ve only had one last year which is part of my credit card,
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • fay66
    • By fay66 26th Nov 17, 11:42 AM
    • 663 Posts
    • 1,571 Thanks
    fay66
    Put a list together Wannabe
    Sky - to call
    EE to call
    clothing to reduce budget of £50 normally use catalogues because of mobility but i suppose i could use the minimum payments as 0

    Littlewoods is being paid by my mum, so will alter this

    home insurance - but was best quote at time and covered my india holiday and contents out of home

    Groceries will reduce - next pay day 30th Nov have shopped this week - iceland £45 will last til next Saturday and pet food all bought


    car parking with badge is free , I cant walk that far and it is more or less door shopping

    50 for presents havent saved so far this year , so yes can reduce for next year say £20 just have one daughter shes 21 but she did ask for a tv.? for her bedroom for this year

    Holidays had a weekend break this year £150 that is , with suffering from depression , thought it might help this was a projection of future

    emergency fund - no i dont save £50 amonth it is a projection of the future- have 2 dogs insured one has had a big operation £100 excess, 2 cats un insured ?
    please reply back .
    Last edited by fay66; 26-11-2017 at 11:46 AM.
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • fay66
    • By fay66 26th Nov 17, 12:58 PM
    • 663 Posts
    • 1,571 Thanks
    fay66
    onthly Expense Details
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 450 will reduce to 400 april 18
    Management charge (leasehold property).. 0
    Council tax............................. 156 includes 60 debt paid jan 18
    Electricity............................. 28
    Gas..................................... 28
    Oil..................................... 0
    Water rates............................. 25
    Telephone (land line)................... 0
    Mobile phone............................ 88, ee mobile and pad contract ends jan 19 I know you're in contract but speak to them. You can't afford this
    TV Licence.............................. 12
    Satellite/Cable TV...................... 58 Same as above. Speak to them.
    Internet Services....................... 0
    Groceries etc. ......................... 200 includes dogs cats This can be lower reduce mine to 100 and animals to 50
    Clothing................................ 50 will remove Go back to basics until you're debt's paid off you can't afford £50 a month right now.
    Petrol/diesel........................... 120 miles 250 ew
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0 I know its through PIP so does cover everything that needs repairing?
    Car parking............................. 0 Never?
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 10
    Pet insurance/vet bills................. 25
    Buildings insurance..................... 0
    Contents insurance...................... 20 Shop around and use cashback sites
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 50 You should lower this until your debts are paid off - reduced to 25
    Haircuts................................ 30 Can you go an extra week in between etc to make it less expense? im grey so do have roots and cut in this this is cheap
    Entertainment........................... 60
    Holiday................................. 30 This isn't loads but while you don't have enough coming in to cover outgoings you can't afford this. will take out until feb council tax paid off
    Emergency fund.......................... 50 will take this out until feb Do you actually save this?
    Total monthly expenses.................. 1490


    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
    capital one....................200.......10........34.9
    aqua...........................500.......48....... .34.9
    ocean..........................1000......27....... .34.94
    118 118 loan...................2788......145.......71.3
    studio.........................100.......0........ .0
    fashion world..................200.......0.........0
    littlewoods....................450.......20....... .0 mum paying
    very...........................300.......17....... .0
    marbles........................4500......189...... .34.9
    Total unsecured debts..........10038.....456.......-


    Monthly Budget Summary
    Total monthly income.................... 1,830
    Expenses (including HP & secured debts). 1,490
    Available for debt repayments........... 340
    Monthly UNsecured debt repayments....... 456
    Amount short for making debt repayments. -116 You need to at least make this balance
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • WannabeFree
    • By WannabeFree 26th Nov 17, 1:14 PM
    • 412 Posts
    • 2,825 Thanks
    WannabeFree
    Small steps will make it easier. Remember the debt charities are free to seek advice from even if you don't take on a DMP etc even just to go through everything.

    I agree you do need to have some going out etc it's all about balance x
    ďOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.Ē
    • MeenaM
    • By MeenaM 26th Nov 17, 1:45 PM
    • 52 Posts
    • 75 Thanks
    MeenaM
    Hello and welcome!

    OMFG that 118 118 loan interest rate is scandalous the representative apr is 99% !!! imo you should throw everything at that one first to get rid of it and then move on to the next highest interest rate and so on ,

    what phone have you got ? can you switch to a sim only deal? I got one recently with BT for £9 a month with a £55 amazon or itunes voucher offer

    good luck
    Sealed Pot 11. #199Next£1170Barclays Credit Card £4891.20/4781.15- 0% ends April 2019 virgin 0% ends july 2020 £4138 4096.20AA Credit Card £860 629- 0% ends Dec 2017 Sainsburys Credit Card £521.27-511.80 0% ends Feb 2018 AIM TO BE DEBT FREE JULY 2019
    • Poor_Single_lady
    • By Poor_Single_lady 26th Nov 17, 2:19 PM
    • 1,126 Posts
    • 4,303 Thanks
    Poor_Single_lady
    Is £200 a month really a lot for groceries including 2 dogs and 2 cats, Toiletries and all meals For the whole month.
    I would have thought this was about right.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • fay66
    • By fay66 26th Nov 17, 3:09 PM
    • 663 Posts
    • 1,571 Thanks
    fay66
    thanks
    There is things that could be less see my comments in red. However it isn't that extreme.

    Speak to a debt charity like Stepchange. Not one that charges you.
    They will be best to advise you what to do and how to get out.

    Remember this is the hardest step and the only way from here is up. There is light at the end of the tunnel x
    Originally posted by WannabeFree
    Hello and welcome!

    OMFG that 118 118 loan interest rate is scandalous the representative apr is 99% !!! imo you should throw everything at that one first to get rid of it and then move on to the next highest interest rate and so

    what phone have you got ? can you switch to a sim only deal? I got one recently with BT for £9 a month with a £55 amazon or itunes voucher offer

    good luck
    Originally posted by MeenaM
    i havent got much excess at the moment but from Feb I should be £60 up and out of xmas
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
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