now on antidepressants due partly to debt, is it time for a dmp?

megisabel

dont think i could sign on, my husband earns 2000 a month

im not sure if i would be entitled to incapacity benefit?

Gemmzie

It might be worth a conversation with the job centre about whether you would be eligible and your GP if he/she is onside with treatment

petrafyde

Don't worry about posting the SOA. No matter what you write in there, someone else will have posted worse. There's no need for shame or embarassment here cos we're all in the same boat

Calm down. Go get a brew and maybe a breath of fresh air - then come back when you're ready..there's always someone around.

You're being really really brave with this Rebecca. Well done

megisabel

my GP is supportive, Im seeing her again tomorrow so I will see her about another sick note

I have started on SOA, its so hard, keep having to break off. Its at this point my head normally goes back in the sand, then i spend a bit more to make me feel better P A T H E T I C

megisabel

Here it is but what I havent put in is any sort of money on cigarettes ( I know i know but i just cant stop right now, entertainment, presents, clothes, school expenses, pocket money etc)

we are !!!!ed right?
Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 2100
Partners monthly income after tax....... 0
Benefits................................ 235
Other income............................ 175
Total monthly income.................... 2510

Monthly Expense Details
Mortgage................................ 762
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 1.6
Council tax............................. 110
Electricity............................. 120
Gas..................................... 120
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 65
Mobile phone............................ 25
TV Licence.............................. 12
Satellite/Cable TV...................... 24
Internet Services....................... 0
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 346
Road tax................................ 20
Car Insurance........................... 70
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 28
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2193.6

Assets
Cash.................................... 0
House value (Gross)..................... 150000
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 151500

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 111000...(762)......0
Total secured debts........... 111000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
barclaycard....................8200......175.......0
virgin.........................1053......50........0
halifax one....................6500......160.......0
alliance 2.....................500.......0.........0
barclays.......................1600......0.........0
smile..........................500.......0.........0
alliance and leiceste..........800.......0.........0
eon............................500.......0.........0
next...........................376.38....35........0
grattan........................73.95.....7.2.......0
vertbaudet.....................65........5.........0
egg............................1877.69...39........15.9
hsbc ..........................5200......150.......0
Total unsecured debts..........27246.02..621.2.....-

Monthly Budget Summary
Total monthly income.................... 2,510
Expenses (including secured debts)....... 2,193.6
Available for debt repayments........... 316.4
Monthly UNsecured debt repayments....... 621.2
Surplus(deficit if negative)............ -304.8

Personal Balance Sheet Summary
Total assets (things you own)........... 151,500
Total Secured debt...................... -111,000
Total Unsecured debt.................... -27,246.02
Net Assets.............................. 13,253.98

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

megisabel

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 2100
Partners monthly income after tax....... 0
Benefits................................ 235
Other income............................ 175
Total monthly income.................... 2510

Monthly Expense Details
Mortgage................................ 762
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 1.6
Council tax............................. 110
Electricity............................. 120
Gas..................................... 120
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 65
Mobile phone............................ 25
TV Licence.............................. 12
Satellite/Cable TV...................... 24
Internet Services....................... 0
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 346
Road tax................................ 20
Car Insurance........................... 70
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 28
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2258.6

Assets
Cash.................................... 0
House value (Gross)..................... 150000
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 151500

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 111000...(762)......0
Total secured debts........... 111000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
barclaycard....................8200......175.......0
virgin.........................1053......50........0
halifax one....................6500......160.......0
alliance 2.....................500.......0.........0
barclays.......................1600......0.........0
smile..........................500.......0.........0
alliance and leiceste..........800.......0.........0
eon............................500.......0.........0
next...........................376.38....35........0
grattan........................73.95.....7.2.......0
vertbaudet.....................65........5.........0
egg............................1877.69...39........15.9
hsbc ..........................5200......150.......0
Total unsecured debts..........27246.02..621.2.....-

Monthly Budget Summary
Total monthly income.................... 2,510
Expenses (including secured debts)....... 2,258.6
Available for debt repayments........... 251.4
Monthly UNsecured debt repayments....... 621.2
Surplus(deficit if negative)............ -369.8

Personal Balance Sheet Summary
Total assets (things you own)........... 151,500
Total Secured debt...................... -111,000
Total Unsecured debt.................... -27,246.02
Net Assets.............................. 13,253.98

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

UPDATED TO INCLUDE CHRISTMAS AND MOT etc

dancingfairy

I haven't got time to go through your SOA thoroughly, but remember what Martin says there isn't a debt problem that can't be solved. It's only money at the end of the day and people can't have what you haven't got (no matter how loud they scream !!) and you should always be able to feed and clothe yourself and the kids. There is help out there.
Stay Strong and I'm sure the other peeps will have some fab advice for you.
All the best
df x

GeorgeUK

I think there is definately room for savings to be made in the SOA so don't go buying any sand to stick your head in just yet.

Mortgage................................ 762
Is this interest only? (just curious for now)

Council tax............................. 110
If you are paying over 10 months, can you ask to pay it over 12?

Electricity............................. 120
Gas..................................... 120
These are both quite high. Have a look at some of the comparison sites to see if you are getting a good deal (uswitch, moneysupermarket). May also be worth checking the companies have the correct meter readings.

Mobile phone............................ 25
PAYG?

Telephone (land line)................... 65
Satellite/Cable TV...................... 24
Internet Services....................... 0
Are these combined in a package?

Groceries etc. ......................... 400
You could probably cut this a bit. Look at the old style board for meal plan ideas. Have you moved down a brand (shops own)

Clothing................................ 50
Every month? Can this be cut down?

Petrol/diesel........................... 346
Is public transport an option? This is really high.

Car Insurance........................... 70
Check the comparison sites to see if you are getting a good deal (Might be able to get cashback when changing via Quidco)

Might also be worthwhile keeping a spending diary so that you can see where your money is going and be able to create a budget.

barclaycard....................8200......175...... .0
virgin.........................1053......50....... .0
halifax one....................6500......160.......0
alliance 2.....................500.......0.........0
barclays.......................1600......0........ .0
smile..........................500.......0........ .0
alliance and leiceste..........800.......0.........0
eon............................500.......0........ .0
next...........................376.38....35....... .0
grattan........................73.95.....7.2...... .0
vertbaudet.....................65........5........ .0
egg............................1877.69...39....... .15.9
hsbc ..........................5200......150.......0

You should usually try to pay the minimum on all debts and throw anything left over at the debt with the highest APR. If your husband doesn't know about some of these debts, then i suppose you may not be able to ask him to try geting a 0% card - some do promotions for about 12 months that are interest free. Also with some cards, if you can get a nil balance on them you may be able to get an incentive to keep the card open - 0% for 6 months or a low interest life of balance. This may allow you to get rid of some of the higher interest debts and if it frees up another card, then just repeat the process. I wait for a nil balance statement before asking if they have any balance transfer deals though.

Hope some of this helps.

megisabel

is anyone around ?

megisabel

GeorgeUK wrote: »

I think there is definately room for savings to be made in the SOA so don't go buying any sand to stick your head in just yet.

Mortgage................................ 762
Is this interest only? (just curious for now) no, interest and repayment

Council tax............................. 110
If you are paying over 10 months, can you ask to pay it over 12? i will ask about this

Electricity............................. 120
Gas..................................... 120
These are both quite high. Have a look at some of the comparison sites to see if you are getting a good deal (uswitch, moneysupermarket). May also be worth checking the companies have the correct meter readings.

we are on prepayment meters (due to eon debt) cost us a fortune

Mobile phone............................ 25
PAYG?

Telephone (land line)................... 65
Satellite/Cable TV...................... 24
Internet Services....................... 0
Are these combined in a package?

satellite is seperate, telephone and broadband are combined with carphone warehouse

Groceries etc. ......................... 400
You could probably cut this a bit. Look at the old style board for meal plan ideas. Have you moved down a brand (shops own)
yeah i use shops own/smart price where i can, this includes all toiletries, cleaning stuff, nappies and formula as well

Clothing................................ 50
Every month? Can this be cut down?
yes this probably could be way cut down, just put it in as with a very quickly growing baby and 2 other kids, there are lots of clothes to be had, i shop mainly in primark for them now though

Petrol/diesel........................... 346
Is public transport an option? This is really high.
this is for two cars, we cant manage with just one as the school isnt walkable or bussable to and my husband works shift patterns that clash
Car Insurance........................... 70
Check the comparison sites to see if you are getting a good deal (Might be able to get cashback when changing via Quidco)
this is for 2 cars
Might also be worthwhile keeping a spending diary so that you can see where your money is going and be able to create a budget.

barclaycard....................8200......175...... .0
virgin.........................1053......50....... .0
halifax one....................6500......160.......0
alliance 2.....................500.......0.........0
barclays.......................1600......0........ .0
smile..........................500.......0........ .0
alliance and leiceste..........800.......0.........0
eon............................500.......0........ .0
next...........................376.38....35....... .0
grattan........................73.95.....7.2...... .0
vertbaudet.....................65........5........ .0
egg............................1877.69...39....... .15.9
hsbc ..........................5200......150.......0

You should usually try to pay the minimum on all debts and throw anything left over at the debt with the highest APR. If your husband doesn't know about some of these debts, then i suppose you may not be able to ask him to try geting a 0% card - some do promotions for about 12 months that are interest free. Also with some cards, if you can get a nil balance on them you may be able to get an incentive to keep the card open - 0% for 6 months or a low interest life of balance. This may allow you to get rid of some of the higher interest debts and if it frees up another card, then just repeat the process. I wait for a nil balance statement before asking if they have any balance transfer deals though.

we no longer can manage to get 0% deals since the last few months of missing some payments and being late, i have recently done a bit of a shuffle the best i can

Hope some of this helps.

sorry didnt see your replies when i posted my is anyone around message

all of this was just about dealable with when i was working and then on maternity pay of 400 a month- losing this and not being well enough to work has just broken the camels back