A new me for a better future- MM's debt diary 2!!

moneymaker2

Hi All,

Well the time has come to post a new SOA.

Things have gone from bad to worst in the last few months as I have moved within the company that I work for so I no longer earn any bonus. (Which has reduced our incomings by 300 to 400 pounds per month).

Currently looking for a new job and I have just sent off letters to my creditors to advise of our financial status. I have started making the payments to them this month so they are at least receiving something.

Please feel free to comment and help out or laugh out loud... L x

Mortgage: £720 (Just Gone up after our 2 year fixed rate ended)
Council Tax: £110
Water Rates: £12
Home Insurance: £28.88 (Due to be renewed in October08)
Life Insurance: £21.01
Gas and Electric: £77.00
Shopping: £200 (for 2 adults, one child and 1 baby)
Tv Licence: £12
Sky: £18
Aol: £19.99 (Tied into contract)
Petrol: £120
Talk Talk: £15
Orange Mobile x2: £80
Childcare:£360

Then Debts:

First Plus: 12.9% £343 per month
HSBC-Personal Loan: 6.9% £327.21 (Had to reduce to £152.52)
HSBC-Business Loan: Not sure of rate £100.00 (Had to reduce to £13)
Citibank: 12.9% £170.45 (Had to reduce to £42)
Barclaycard: 16.9% £101 per month (Had to reduce to £24)
Barclaycard: 16.9% £53 per month (Had to reduce to £14)
Next: 150 per month (Had to reduce to £12)
Blackhorse: 0% £68.91 per month (Had to reduce to £6)
Capitalone: 29.9% £25 per month (Had to reduce to £3)
A&L overdraft: 0% £50 per month (Had to reduce to £8)
House of Fraser Card: 19.9% £10 per month
A&L Card: 19.9% £13 per month
Moneyshop: Not sure of rate £112 per month

Total Outgoings are: £3416 Before reduced payments
£2545 After reduced payments

Our incomings are as follows:

Me: £1250
Mr MoneyMaker: £1187
Child Benefit: £125
WFTC: £48

Total: £2610 so before the reduced payments we were £806 per month over our budget. We are now £65 in budget (Which covers haircuts and presents etc...)

The companies have not accepted the reduced payments yet, but as you can see I cannot afford to pay the full payments.

First plus has around £35,000
HSBC: Around £25,000
HSBC: Around £2000
Citibank: Around £7000
Barclaycard: £4000 and £2350
Next: Approx £2000
Blackhorse: Approx £1000
A&L Overdraft: £1250
Capitalone: £500
House of Fraser: £250
A&L CC: Approx: £300
Cheques: £750

Hope that's all the information that you need. Let me know if you have any questions or help etc...

L x

moneymaker2

Today I have received an email back from A&L to say that my charges clai has been passed onto the financial hardship department to get my case heard earlier due to me having £800 more outgoing than incoing per month.

On a positive Mr MM2 is completing some additional work in November so we should be able to use some of this money to clear debts.

I have also heard from my boss that my hours will increase at work which will mean that my salary will increase. If this is true, then based on my hourly wage my income should go from £19,090 to £20,400. This is for an extra 1/2 hour per day!! Where do I sign up?? Also we will now have 3 levels of Managers and I am looking to get into the salary bracket of £22-£24k per year. My boss said that this is the level that I am performing at.

Based on this information I have turned down a job at a Local Home store which was £21k per year but it was more hours and would have cost more in childcare.


I hope that I have made the right decision....

moneymaker2

Bloody A and L!!! They have charged me £15 for being 94p over my overdraft for 3 days (Whilst in Spain!!!) and I have filed a financial hardship claim with them for my bank charges to say that I am £800 over my income each month.

Are they trying to make me have a breakdown???? Been on hold waiting for an advisor for 10 mins now.. GRRR

moneymaker2

Well after 2 letters and 2 45 minute phone calls I have got some of my bank charges back, only £45 but at least it is something.
Myself and my husband have cleared £350 off the cheques so far this month and me and my hubbie have taken on 4 yellow pages rounds so that should clear off nearly the rest of the £400 thats owing on it...

Hubby also has some functions this and next month so we should hopefully get some of the other debts down which means that we can increase our credit payments again. I also get my payrise this month too. Only £100 a month but as Tesco's say ''Every little helps''....