My sorry looking SOA

butterfly_01

I am hoping someone can help me with my sorry looking SOA. I am not sure how to go about sorting out my problems. I think a debt management plan is probably going to be the best idea as suggested on the CCCS website. Does anyone think there is a better way of dealing with this? My boyfriend – who I live with gives me the £320 as this is all he can afford as he also has a mountain of debt but won’t even consider speaking to a debt management agency as he thinks that they will take the car or make him sell it! Can they do this? He works about 7 miles away from where we live and uses the car to get to and from work, also as I don’t drive I rely a bit on him for shopping and if we want to go away. Would it be better to try and make him look at doing a joint thing or is individually better?

Monthly Income Details
Monthly income after tax................ 1066
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 320
Total monthly income.................... 1386

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 575
Management charge (leasehold property).. 0
Council tax............................. 115
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 10
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 65
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)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
pc world agreement for pc............... 25
Total monthly expenses.................. 1110

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

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
credit cards...................10600.....268.......0
loan...........................7500......122.......0
overdrafts.....................4000......0.........0
Total unsecured debts..........22100.....390.......-

Monthly Budget Summary
Total monthly income.................... 1,386
Expenses (including secured debts)....... 1,100
Available for debt repayments........... 286
Monthly UNsecured debt repayments....... 390
Surplus(deficit if negative)............ -104

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -22,100
Net Assets.............................. -22,100

Seaxwyn

Hi butterfly

Ideally, I think it would be better to tackle your debts together. But if your boyfriend is not ready to do this, dealing with yours first is a good start.

Is selling the car really not possible? 7 miles is easily bike-able - and it would almost certainly work out cheaper to hire a car when you want to go away than to have your own. I appreciate this isn't only your decision, but it's something I would consider.

Jacks_xxx

Hiya my lovely,

Well the first thing that jumped out at me from your SOA is that your fella needs to man up and pay his fair share - so maybe joint would be a good idea as it would balance things out a bit better hopefully.

Have you tried putting together a joint SOA to see what that looks like?

Definitely tell your boyf from me that he can look into things and speak to people like CCCS without making any commitments.

They don't send The Enforcers round to wrestle the car keys from his grasp as soon as you dial CCCS's number!

Many of us might be of the opinion that getting rid of the car would be good idea from a debt point of view - but nobody is going to take it from him. (If he needs it for work, they wouldn't take it even if he declared bankruptcy and that's the only situation I can think of when it would even be at risk!)

Get him on board honeybun. these things are easier when you're both on the same page.

Love Jacks xxx

butterfly_01

Thank you for the advice, I am going to try and speak to him at the weekend about it. The good news is I have just been told I am getting a payrise in 2 months time, I know its only going to be £1000.00 per year but it all helps .

I really don't want to have to get rid of the car but we are considering selling and getting something cheaper and that is cheaper to run.

RAS

hi love

You are busy subsidising your boyfriend's debts. It costs about £500 eCH for your basic bills and if he is not paying that, then you need to talk to him about pulling his weight.

Regarding the car, does he really need it? if it is an old banger and the costs are not high, then OK, even if he thinks about cycling. If it is on HP, you may be stuck with it for a while. If it is a newish car on a loan, then he needs to start getting realsitc about the sitaution.

Do you have a car club near you? Join that and you can get a car by booking on-line any time. For longer trips, rent on. ON balance it will be cheaper and you never knw, you might get an up-grade (I used to about a third of the time)

butterfly_01

The car was paid in cash when we got it so we don't owe anyone for it.

Should have added that the flat is in my name and as it was costing me so much he moved in on the arrangement that he gave me as much as he could

Hatster

I cycle 7 miles to work and my husband cycles 10, so it's certainly doable. But ironically, it may not be very affordable - if you're cycling on quiet well-lit roads, you'll need a helmet and lights, but the lights don't need to be particularly bright, and cost approx £15. If you're cycling on unlit country roads, you'll want very bright lights and luminous gear, at which point you're talking more like £65 for a set of appropriate lights. You'd also probably want waterproof trousers and jacket for cycling in winter, and maybe even waterproof shoe covers. You'd probably also need to change when you get to work, and shower if possible, and not all offices have this facility.

tallyhoh

Sorry,
I know he gives you "as much as he can" but he needs to give you 50%. If that doesnt happen you will slide further into debt & will probably end up resenting him. A fair contribution off him is the difference between you sinking or staying afloat.
Good Luck.

Horace

Your grocery bill is high - even though its for two, try getting this down by more careful shopping (take a list of what you need), look on the moneysaving oldstyle board for tips on meal planning (they are wonderful over there).

As for the car, I do agree that you need a cheaper and smaller car but as he only works 7 miles from home would a bus pass be cheaper? That way there would be no need to pay for parking.

butterfly_01

That is not just groceries, its all toiletries and clothes etc.

I don't want to get rid of the car completely. I already get the bus to work and there is no way my boyfriend would want to. I will try and do anything else before giving the car up completely.

Pippilongstocking

Hiya
Can't help much but can say this, I lived with a guy who only paid 'what he could' and other folk are right, he needs to pay his fare share as you are subsidising his debts for him and making your own worse.

Think of it this way (and this will sound harsh) brace yourself. If you split up tomorrow he would need to find the whole of a household to contribute too if he lived on his own. Therefore he should embrace the fact that you can both share the costs of living and enjoy the experience rather than you havin to essentially help pay his bills at the cost of your own.

Not meant in a rude way - honestly I am the worlds biggest romantic (mostly) but he has to pay his way.

That being said, it took me a bout a week and a lot of restless nights to ask my brother (who sort of lives with us) to cough up his fair share. He was giving us a 'contribution to help out' (different I know) but I did eventually say um the whole house expenses are these - your share is this - he was a bit shocked at how much the household cost to run but it was all there in black and white, I felt justified saying um, no your share isnt helping out its a fair split of the expenses. I was beginning to resent the fact that I was subsidising him - my brother is completely debt free - and very proud of it so I was very scared to say um this is your ACTUAL share of our outgoings.

Scary tho'!!

Goodluck with it all - only thing I would say though is that we are a family of four with lots of visitors etc and we only spend £200 on groceries, dog food, toiletries, socks, etc etc - might want try trim that a bit xxxxxxxxxxxxxxxxxx