my SOA, any comments/advice?

gizmomum

We've already sold everything sellable on ebay and are currently doing car boot sales every other week with the various bits we have left.
Having looked at what you've said in the cold light of day it does look like our budgetting is up the swannee, and I think it's probably those bits and pieces that creep in, like the odd packet of crisps and overspending on lunches at work and things like that, which a spending diary would highlight.
Is it worth me speaking to the creditors myself and seeinfg if they'll come to some sort of temp arrangement (although after my experience with lloyds I'm not sure it's worth it) But if they would do that, and with a [strike]bit[/strike] LOT! of budgetting it may be that we could get on track

paybacktime2008

Theres a great online spending diary at www.spendingdiary.com

paybacktime2008

Also...are you both claiming childcare vouchers??

gizmomum

thanks paybacktime I'll look at that, both myself ad my husband are hopeless (as you've all probably gathered!!) so it can only help. I'm the only one claiming childcare vouchers, my husbands employers don't do them, which is a real pain!

gizmomum

Just another quickie.......if you're on a DMP how do you deal with big items of expenditure. I'm thinking specifically of us needing cavity wall insulation to deal with a damp problem, it will cost 150 (with a grant) but all our excess would be tied up with the a DMP. Is it a case of cutting back even more and saving the money up because it really has become a bit of a priority

mummy2mygirls

i would say its worth speaking to your creditors, we have a loan for our kitchen which my dh phoned up to find out a final setlement fee (was going to consolidate!!but no more!!) and they lowered our interest rate and our min payments went from £150 a mth to £113 so saved us a bit per mth. worth a try
I have started doing surveys on line and clicks and buying anything through quidco to try and earn a little extra money! all helps.
i have also started a spending diary and going to get hubby to as well. it really lets you realise where all the little bits go and also makes you think before you spend the little extras..
good luck on getting debt free!

dancingfairy

Hi. You really need to get that phone bill down - 65 a month is massive even for phone,tv and broadband. We have got 3 for 30 from virgin - are you with BT? point out that virgin will do it for 30 and ask them to match it.
Mobile - phone them and point out that virgin/orange/t-mobile are doing the same amount of minutes for 30 pounds a month (or more minutes) - obviously do your research first and ask them to better it - chances are they will give you a better deal.
Life assurance also seems high to me - is this going to pay out for what you think it will - you need to check exactly what is and isn't covered and see if you can get the correct cover cheaper.
How much is that minimum payment to Littlewoods - can you check what the min. payment is please.
That could be the difference between managing without doing a dmp or doing one.
Why are you so concerned about doing a DMP - have you read bad things about them, are you worried about your credit record? To be honest it should make your life a lot,lot easier. You will have a realistic budget for everything and what's left over will be divided by your creditors - they should also stop charges and interest for you. You will have to have an allowance for everything and you will be able to have enough to eat sensibly, allow for car expenses, etc,etc. As further credit is banned.
df

gizmomum

Yes I need to pin down that Littlewoods one cos that is messing up the figures at the moment
I'm most worried about my credit rating, I know it's probably messed up already but am concerend about things like if we need a new car or when our mortgage deal runs out that we won't be able to do anything at all about it. Of course the flip side is that having a set budget has got to be a good thing!
Lots of food for thought...........