New SOA

butterfly_01

Ok, so I have now gone through the CCCS form on their website with my boyfriend and this is the results. Any thoughts or comments on the way forward? The CCCS recommended a DMP what does everyone think of this?
I have done this on a new thread as it is a joint thing between me and the OH and am now (thanks to the advice and comments on the other thread) to do this a joint plan.

Your take home pay £1,100
Your partner's take home pay £1,118
Total income £2,218

Housing Amount Comment
Rent £575
Water £10
Council tax £115
Gas £40
Electricity £40

Household services
Telephone, mobile & internet £65; My mobile £30ish tv/internet £45
TV licence £12
Hire purchase £25

Transport
Vehicle spares and servicing £10
Road tax £18
Motor insurance £35
Fuel & parking £130
Public Transport £65

Food & housekeeping
Food, toiletries, cleaning £250
School meals/meals at work £35
Tobacco £40

Misc. goods & services
Hairdressing £15

Personal & leisure
Clothing & footwear £22
Sports, hobbies, entertainment £15
Total expenses £1,517
Totals Amount
Total income £2,218
Total expenses £1,517
Surplus (Deficit) £701


Your Creditor List
1 Barclays Overdraft £1,300 £65
2 Barclays Credit Card £4,000 £90
3 debenhaqms Credit Card £1,000 £40
4 Egg Credit Card £4,600 £100
5 Halifax Credit Card £4,500 £100
6 Halifax Overdraft £2,200 £110
7 Halifax Personal Loan £7,500 £122
8 lloyds Personal Loan £3,000 £50
9 lloyds Credit Card £3,700 £100
10 Mint Credit Card £4,500 £90
11 rbs Credit Card £5,000 £80

lunar

You have a good ammount left over to put to your debts, im sorry i cant offer much advice as i dont know anything about a DMP. Do you know the interest you are paying on all you credit? that may give you somewhere to start with what to try over paying first. can you look at earning extra with ebay and mystery shopping to get the high interest ones paid off quickly and free up more money on you min payments.

Im not sure what effect a dmp has on your credit rating. someone will be along soon with better advice than me!

ajaney

butterfly_01 wrote: »

Ok, so I have now gone through the CCCS form on their website with my boyfriend and this is the results. Any thoughts or comments on the way forward? The CCCS recommended a DMP what does everyone think of this?
I have done this on a new thread as it is a joint thing between me and the OH and am now (thanks to the advice and comments on the other thread) to do this a joint plan.

Your take home pay £1,100
Your partner's take home pay £1,118
Total income £2,218

Housing Amount Comment
Rent £575
Water £10
Council tax £115 (can this be pread over 12 months if not already)
Gas £40
Electricity £40

Household services
Telephone, mobile & internet £65;
My mobile £30ish pay as you go??
tv/internet £45 internet twice?? what packages are you on
TV licence £12
Hire purchase £25 whats this

The section above could do with a bit more clarity

Transport
Vehicle spares and servicing £10
Road tax £18
Motor insurance £35
Fuel & parking £130 whats the parking charges for?
Public Transport £65

Food & housekeeping
Food, toiletries, cleaning £250
School meals/meals at work £35
Tobacco £40

Misc. goods & services
Hairdressing £15

Personal & leisure
Clothing & footwear £22
Sports, hobbies, entertainment £15
Total expenses £1,517
Totals Amount
Total income £2,218
Total expenses £1,517
Surplus (Deficit) £701


Your Creditor List
1 Barclays Overdraft £1,300 £65
2 Barclays Credit Card £4,000 £90
3 debenhaqms Credit Card £1,000 £40
4 Egg Credit Card £4,600 £100
5 Halifax Credit Card £4,500 £100
6 Halifax Overdraft £2,200 £110
7 Halifax Personal Loan £7,500 £122
8 lloyds Personal Loan £3,000 £50
9 lloyds Credit Card £3,700 £100
10 Mint Credit Card £4,500 £90
11 rbs Credit Card £5,000 £80

a few pointers just to start you off. like previous poster says, would be useful to know your apr's on the loans etc.

poorandindenial

Hi there

Is the surplus BEFORE your payments go out? if so I think you are actually in deficit as your repayments are qlmost £950 - ah yes, just saw CCCS recommended a DMP - must learn to read threads first. This isn't all doom and gloom but it means that your debt won't go down a as you will need more credit to live off each month after you have made repayments.

I agree with CCCS on the DMP, you have enough to make your creditors a decent offer and should hopefully be able to get interest stopped for a bit so that your debts start to come down, this could give you the breathing space you need to think about how you are going to make the most of the money you do have.

PS I am with the others on the telecomms and car costs being prime for cutting back.

All the best

If you want to avoid a DMP it may be possible but it will mean you finding another £200 a month.

butterfly_01

Telephone, mobile & internet £65;
My mobile £30ish pay as you go??
tv/internet £45 internet twice?? what packages are you on

I have reduced the amount recently but vodafone say they can't change the contract again. Does anyone know of anyway I can get out of a contract without having to buy myself out?

Hire purchase £25 whats this

I have an agreement for a pc. It was £799 over 48 months, I have only made 3 payments so far (none have been missed)

I don't know the apr's on the credit cards / loans

The £130 is for petrol

Horace

The APRs appear on the credit card statements.

Instead of buying meals at work why not take your own lunch as that will save you a lot of money? Also £250 on groceries (incl. toiletries and cleaning products) is a lot for two people, go over onto the Moneysaving Oldstyle board for tips on meal planning and how to shop better.

Do you have anything that you can sell on ebay or at a carboot e.g. clothes no longer worn, books no longer read?

Look at the Up your Income board for tips and how about joining in the make £10 a day challenge. It all helps.

misspoppy

HI

it sounds like the budget that CCCS have come up with is one you could both live on as there are ways you could save money within it so you could spend it on going out for example. I'm really please your boyfriend is on board.

butterfly_01

Instead of buying meals at work why not take your own lunch as that will save you a lot of money?

We buy stuff for lunch once a week and take it to work with us but we but it separately but adds up to this amount.

There is another thread with lot more info about how we don't really have anything to sell/looking for 2nd jobs/downsizing car etc.

Jacks_xxx

:wave: Hiya Lovelies!

I am really glad you two are moving forward together on this.

The area on your SOA that I really think needs looking at is the phones / internet/ tv bit.

£140 a month / 1680 a year is a big old chunk of your income.

We have one PAYG mobile for our 13yo daughter which was a birthday present, plus a landline, sky + and super fast broadband and we only spend £69 a month. We could get it for less if we would give up the superduper broadband connection. (But it enables hubby to work at home a couple of days a month which saves about £40 on petrol and about 4 hours commuting time every day he can do that so it's worth it.)

Sky do basic packages of phone internet and TV from about £16 a month last time I looked. (We have the £21 version so hubby can have the documentaries!)

I'm guessing you have a long time left on your mobiles packages?

I rang our provider and said we were about to go bankrupt and stop paying the bill did they want the phones back? (They did.) Cancelling the direct debit helped as well! (and I expect they looked at our credit report and saw that we owed £96700 and only took home £2644 a month!)

It's one step at a time honeys - you've made quite a bit of progress in the last few days don't you think? Now you'll build on that one brick at a time.

Love Jacks xxx

pepe2008

:T :T Well done Butterfly01, see, said you could do it!!

and well done to the OH for being brave and getting involved...a problem shared, etc.

You DO have a good amount to pay the debt off ( I hope that you have already cut up the cards ), I'm paying of £60k at £400 per month so feeling a bit jealous.

Support from the DFWs + professional help= :j

**kym**

Whats the Sky phone line, broadband, tv package like jacks? is the broadband part any good and do they give you a modem/wireless hub? our bt broadband contracts up in November and i want out! thinking as we already have a sky package aren't we already entitled to the phone and internet access?

sorry to hijack butterfly - just been wondering about this recently!

and i love the mobile phone idea - scare them into cancelling your contract - wish id tried this last year - still im on a really really old contract with orange at £12.50 a month with 50 mins per night free so not too bad anyway.

butterfly - nothing new to add really - same as other posters and previous thread - overall goal if you're gonna do this quickly is to cut back one or two things in every one of the headed areas... one idea - how about whichever one you smokes quits smoking? although i have to admit i quit when i was paying back debts but have now sneaked a few rollies back into my habits.... as has OH, so no chastising from me!

well done for getting your SOA up and for getting the boyf on board x