Bad Debt - Really Scared

scoutkvm

Hi

herewith SOA, per month

Income £1088
Board inc utilities, council tax, food etc currently £150 but told it may go up to or just above £200 (not fully worked out yet)
Mobile £35
Insurance £7
Sky £47 (after cancelling multiroom)
Debt Company £174
Credit Cards £200 (paying minimum payment)
DVD Rental £15 (cancelled online)
Internet £18
Smoking £80 (trying to quit by cutting down - hopefully stop)
Entertainment £80
Birthdays £70/year approx (main family)
Clothing/housekeeping £40

moanymoany

scoutkvm wrote: »

Hi

herewith SOA, per month

Income £1088
Board inc utilities, council tax, food etc currently £150 but told it may go up to or just above £200 (not fully worked out yet)
Mobile £35 has to go
Insurance £7 what does thin insure?
Sky £47 (after cancelling multiroom) has to go
Debt Company £174
Credit Cards £200 (paying minimum payment)
DVD Rental £15 (cancelled online) has to go - hopefully gone now
Internet £18
Smoking £80 (trying to quit by cutting down - hopefully stop) has to go
Entertainment £80 has to go
Birthdays £70/year approx (main family)
Clothing/housekeeping £40

surely you have enough clothes for at least one year.



Total Gone and new cash available to pay off your debts

£303 per month

£3636 a year

scaredy_cat

http://www.makesenseofcards.com/

try the SOA calculator on here. Put everything down and then click on the MSE format to copy and paste it here.

scoutkvm

Hi

The insurance is contents insurance. Will try to include in this in board as a split with family. DVD Rental needs to be confirmed over the phone, so will cancel tomorrow morning. Am also trying to cut down the sky cost by splitting with family
The mobile has just been taken out on a new 18 month contract, started 3rd October, surely i'll be liable for costs if i try and cancel now?
Just one other thing, I do have another contract mobile in my name that was taken out for friend online (friend is computer illeterate). I used my details instead of his in error and is not paid for by me, will this count or not as when I spoke to debt management company, they told me to forget about it as it is being payed religiously every month and there is currently 8 months left on contract

Should have enough clothes for now

Forgot to mention that I have an overdraft - limit is £250 - currently 230 overdrawn

poorandindenial

scoutkvm wrote: »

The mobile has just been taken out on a new 18 month contract, started 3rd October, surely i'll be liable for costs if i try and cancel now?

You should have 14 days in which you can cancel without penalty (Edit to say check your credit agreement and see what it says)

sarriep

I agree with Scaredy Cat try that online SOA calculator - it will give a clearer picture with all of your credit cards. You will be allowed a certain amount for each area of living - but certainly not £80 a month for entertainment and £80 smoking! The online debt remedy form at www.cccs.co.uk will give you an idea of how much. If you put in too high a figure it will advise you what you should put in which will be considered more acceptable by your creditors.

We have had a real wake up call over the past couple of months and have had to really change how we view money and how we spend it! With 4 children it's been tough but if you see my sig we have a LOT to pay back!!!! Within our much tighter budget we are actually managing to save a little too - unheard of before! You can jiggle the budget a little so you can live comfortably but it will just not allow lots of unecessary luxuries!

Could you get any extra part time work?

CCCS are great, just be honest with them but you musn't take out any more credit.

Best Wishes
Sx

sarriep

Make sure you include the overdraft in your SOA

If you can't cancel the phone contract try negotiating it down - tell them you have realised you cannot afford this and need a cheaper deal - you never know!!

scoutkvm

Hi

have used the cccs remedy form, details below.

This is definately not a wind up - this is real. Have documents to prove it. CCCS will be contacted tomorrow and I'll see what happens

I have been stupid and arrogant up till now and have shown no responsilibiliy for my actions, gaining more credit was stupid and have had everything that i shouldnt and now i know that it is my responsibility to take the necessary action to get myself out of this mess. I could go down the route of trying to go bankrupt and not pay a penny back but that is not what I want. I have been paying the old debt at its original agreed rate (should be paying more, I know) and have also been paying back the additional debt at minimum payment

I realise that my lifestyle has to change and if I have to stop going out, smoking, watching tv or doing anything these then so be it.

Apologies if this sounds abrupt

Anyway, heres the figures

Your Budget

Your Income Amount Your take home pay £1,088 Your partner's take home pay Rent/board received Pension received Any other income received Income Support Jobseekers Allowance Your Income Amount Incapacity Benefit Disability Living Allowance Working Tax Credit Child Benefit Child Tax Credit Child Support Total income £1,088 Housing Amount Comment Rent £200 Mortgage Secured loans/2nd mortgage Mortgage endowment premium Service charge/ground rent Water Council tax Gas Electricity Other household fuel Household services Building and contents insurance £7 Telephone, mobile & internet £53 TV licence Satellite £47 Repairs and maintenance Household appliance rental Child maintenance Childcare Fines, CCJs, Decrees Life insurance/pensions Medical/accident insurance Hire purchase Transport Vehicle spares and servicing Road tax Motor insurance Vehicle breakdown cover Fuel & parking Public Transport Food & housekeeping Food, toiletries, cleaning School meals/meals at work £45 Pets, pet food/insurance Tobacco £80 Misc. goods & services School trips/activities Medicines/prescriptions Dentist/opticians Hairdressing Union/professional fees Laundry/dry cleaning Education fees Personal & leisure Clothing & footwear £20 Newspapers/magazines £12 Sports, hobbies, entertainment £16 Children's pocket money Church/charity donations Sundries/emergencies/other costs Sundries/emergencies £11 Loan from family/friend Other Total expenses £491 Additional information Comment No of adults 3 Dependants 0 Totals Amount Total income £1,088 Total expenses £491 Surplus (Deficit) £597 The figures in this budget are based on those supplied by you during the preparation of your Debt Remedy.


Your Creditor List

Creditor name Debt type Outstanding balance Contractual payment Ownership of debt 1 Barclaycard Credit Card £1,600 £40 Me 2 capitalone Credit Card £1,600 £45 Me 3 citi Credit Card £2,400 £75 Me 4 debtcare Other £9,000 £174 Me 5 lloyds credit card Credit Card £2,000 £40 Me 6 lloyds overdraft Overdraft £230 £12 Me TOTAL £16,830 TOTAL £386 The figures in this creditor list are based on those supplied by you during the preparation of your Debt Remedy.

sarriep

Your Budget

Your Income Amount Your take home pay £1,088
Your partner's take home pay
Rent/board received
Pension received
Any other income received
Income Support Jobseekers Allowance
Your Income Amount
Incapacity Benefit Disability Living Allowance
Working Tax Credit
Child Benefit
Child Tax Credit
Child Support
Total income £1,088
Housing Amount Comment Rent £200
Mortgage Secured loans/2nd mortgage
Mortgage endowment premium
Service charge/ground rent
Water Council tax
Gas
Electricity
Other household fuel
Household services
Building and contents insurance £7
Telephone, mobile & internet £53
TV licence
Satellite £47
Repairs and maintenance
Household appliance rental
Child maintenance
Childcare
Fines, CCJs, Decrees
Life insurance/pensions
Medical/accident insurance
Hire purchase
Transport
Vehicle spares and servicing
Road tax
Motor insurance
Vehicle breakdown cover
Fuel & parking
Public Transport
Food & housekeeping
Food, toiletries, cleaning
School meals/meals at work £45
Pets, pet food/insurance
Tobacco £80
Misc. goods & services
School trips/activities
Medicines/prescriptions
Dentist/opticians
Hairdressing
Union/professional fees
Laundry/dry cleaning
Education fees
Personal & leisure
Clothing & footwear £20
Newspapers/magazines £12
Sports, hobbies, entertainment £16
Children's pocket money
Church/charity donations
Sundries/emergencies/other costs
Sundries/emergencies £11
Loan from family/friend
Other
Total expenses £491
Additional information
Comment No of adults 3 Dependants 0
Totals Amount
Total income £1,088
Total expenses £491
Surplus (Deficit) £597
The figures in this budget are based on those supplied by you during the preparation of your Debt Remedy.


Your Creditor List

Creditor name Debt type Outstanding balance Contractual payment
1 Barclaycard Credit Card £1,600 £40
2 capitalone Credit Card £1,600 £45
3 citi Credit Card £2,400 £75
4 debtcare Other £9,000 £174
5 lloyds credit card Credit Card £2,000 £40
lloyds overdraft Overdraft £230 £12
TOTAL £16,830 TOTAL £386
The figures in this creditor list are based on those supplied by you during the preparation of your Debt Remedy.

This format might be better!

sarriep

Are these all of your debts? I can't understand why your DMP company would want over £600 in payments when according to this you can afford your minimum payments and more!
Sx