What shall i do ?

coolcait

haggisAThome wrote: »

i do what i can to save cash , i brew my own beer :j , i have given up smoking (one month and counting ):j , and been starting to make bigger meals and making them last instead of binning the leftovers . yes mrstine i was thinking the same , i have no chance of a mortgage now so perhaps a dmp would be the way forward . but how would i stand under scottish law ? (live in the highlands)


the wife is going to do the SOA wed night so i will post it up when she does it

Hiya haggis!

If you're thinking about a DMP, and you live in Scotland, you might be interested in looking at the Debt arrangement Scheme

www.moneyscotland.gov.uk

As I understand it, DAs works along the same lines as a DMP, but your creditors HAVE TO freeze interest, and CAN'T take any legal action against you - by law.

Good luck!

falken

Hi

First time I have responded to a thread but I have posted here today too and received some fab advise. We are in a very similar situation and owe about the same except we are both self employed and I am a student too. We have two children under 2.

We made payment plan agreements to our creditors and they have frozen our interest. Maybe you could contact them and ask about something similar. We have been paying a £5 a mth for 6 mths and have just put it up to £10 for the next six. We also owe the a lot, one has accepted this when we owe them £15000.

I am now just in the process of having a chat with CCCS as advised on this forum. Give them a call! They do have a 2 week waiting list.

Good luck and its comforting to know someone is in a similar situation.

Falken

haggisAThome

thank you falken ...

just to let you know i am in full time employment , i work for the rac as a patrol , its my wife who's self employed . but really thanks for the good words of encouragement .. i really mean that :beer:

falken

Cheers:beer:
Falken

haggisAThome

ok SOA as requested


Statement of Affairs and Personal Balance SheetMonthly Income Details
Monthly income after tax................ 1900
Partners monthly income after tax....... 400
Benefits................................
Other income............................ 175
Total monthly income.................... 2475
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 575
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 70
Gas..................................... 25
oil..................................... 0
Water rates............................. 54.25
Telephone (land line)................... 12
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 21
Internet Services....................... 30
Groceries etc. ......................... 700
Clothing................................ 30
Petrol/diesel........................... 40
Road tax................................ 22
Car Insurance........................... 45
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 50
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)...... 20
Haircuts................................ 0
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1866.25
Assets
Cash.................................... 10
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 100
Other assets............................ 0
Total Assets............................ 110
No Secured DebtUnsecured Debts
Description....................Debt......Monthly
CC 8000 157
CAR 5000 119
PLOAN 5000 124
ADV YELL.COM 500 42.77
FLEXY LOAN 1000 40
EGG 900 21.00
MBNA 2500 80.00
Total unsecured debts..........

22900..... 583.77....-
Monthly Budget Summary
Total monthly income.................... 2,475
Expenses (including secured debts)....... 1,866.25
Available for debt repayments........... 608.75
Monthly UNsecured debt repayments....... 583.77
Surplus(deficit if negative)............ 24.98
Personal Balance Sheet Summary
Total assets (things you own)........... 110
Total Secured debt....................
.. -0
Total Unsecured debt.................... -22,900Net Assets.............................. -22,790

sorry if it looks a bit mixed up , for some reason the copy and paste went wrong ..

dfw844

Well done on getting the SOA up there.

I'm sure people will offer useful suggestions soon. My only thought is that the water looks really high! Is this definitely monthly?

Also, re kids clothes, have they any cousins, neighbours, friends who are slightly older / taller who may be growing out of stuff. They grow so quick it's virtually as good as new when it's finished with. Or ebay - I know a lot of MSErs sell kids clothes on their though, so I wonder if they go for a good price? Anyway, just a couple of ideas.

Good luck, you're in the right place xx

lucielle

Hi as dfw844 said water is high and so are the grocery costs. Can you confirm how many this is for? I feed 6 on £336 a month. Hope this helps.
L

juliapenguin

I agree with lucielle that your grocery bill is rather high.... Don't panic, get over to Old Style and you will probably find that you eat better than you ever did in your life for a fraction of £700 (unless you're feeding about forty people:rotfl: ) I think it's very easy to spend loads on food when you're panicking about being in debt but you will find some really simple ways of cutting back the cost without being hungry or eating horrible things.

coolcait

Hiya Haggis

I'm no expert, but from those figures you might well be able to get onto the Debt Arrangement Scheme.

If you got onto DAS, had the interest frozen by law, and paid the same each month as you are just now, you could be clear of your debts in just over three years.

You might not be able to include the car if it's HP rather than a loan, but it looks (on paper) like it would be worth checking it out?

haggisAThome

Where we live council tax and water are combined so the total each month is 154.25. I just seperated them for this thread.
As for our shopping bill, yes its bloody high, only feeding a family of 5 , but have VERY fussy eaters, and even after shopping trip , cupboards still look empty.