Desperate, and Banks keep saying no

sashacat

ask your self if you really need washing machine insurance and are you going to win the lottery..pay the money off the evans store card instead...and try and renegotiate your orange contract...I rang them up 4 days ago and got 500mins and 120texts and lots more for £25 per month.
Also my daughter had a large loan with Northern Rock and she rang them 3 weeks ago and they reduced the interest rate by 2%..we couldn't believe it...try it with all of them...or go to the citizens advice bureau and ask them to get in touch with the card companies for you

fairylights_2

I've just put what you're currently paying and your aprs into the snowball calculator and it says paying 656 a month it'll take you 121 months - you owe £28,350, and will pay back £48,436 if you keep going at your current rate. If you manage to pay another £100 every month it drops to 61 moonths, and £40,130.

You NEED to find that money, else you will be paying back for ages. It's a question of priorities, at the end of the day - do you want to keep living the way you are, or do you want to be debt free?

EDIT - actually, it's 156 months at current levels, spreadsheet stops at 10 years! So find another £100 a month and shave nearly eight years off your debt free date!

carolbee

Hi Fairylights, what is a snowball calculator and where can I access it?

fairylights_2

Here it is.

It takes a bit of playing with, but it's well worth the effort .

mariannemarlow

blimey, thanks for that!

packed lunches and pay as you go here i come!

fairylights wrote:

I've just put what you're currently paying and your aprs into the snowball calculator and it says paying 656 a month it'll take you 121 months - you owe £28,350, and will pay back £48,436 if you keep going at your current rate. If you manage to pay another £100 every month it drops to 61 moonths, and £40,130.

You NEED to find that money, else you will be paying back for ages. It's a question of priorities, at the end of the day - do you want to keep living the way you are, or do you want to be debt free?

mariannemarlow

Hello. I share the rent and council tax with my husband.

i think that it doesn't look right because when theres a bank holiday or i am ill i don't get paid.

also xmas and birthdays cost a fair bit.

Clumsy_Girl wrote:

Just a thought, you say your SOA doesn't look right as you don't have that much left over at the end of the month - could it be your rental amount? £174 a month sounds cheap.

mariannemarlow

Good Lord. I shall try!! - in fact I am determined now. am going to look at the national debt lines letters for trying to get my interest frozen aswell!

fairylights wrote:

I've just put what you're currently paying and your aprs into the snowball calculator and it says paying 656 a month it'll take you 121 months - you owe £28,350, and will pay back £48,436 if you keep going at your current rate. If you manage to pay another £100 every month it drops to 61 moonths, and £40,130.

You NEED to find that money, else you will be paying back for ages. It's a question of priorities, at the end of the day - do you want to keep living the way you are, or do you want to be debt free?

EDIT - actually, it's 156 months at current levels, spreadsheet stops at 10 years! So find another £100 a month and shave nearly eight years off your debt free date!

fairylights_2

Aha! THIS is the link to my original snowball - it has been updated and so there are more facilities for people with multiple cards - I'd recommend this one over the other ....

tomstickland

Well done on the progress you're making.

Orange Mobile Bill: £45.
Lottery Tickets 8
Washing Machine Insurance:£7.50
Hospital Plan: £4.15
Accident Protection: £5.15

Around £60 to be saved by binning and moving to PAYG on the phone. Save another £40 per month by packed lunches and you've got the £100 to cut the 8 years of the repayment!

Can you Ebay/boot sale any things from the house?

jobbingmusician

You keep saying that you don't get paid for holidays, but this is actually illegal! Does your payslip say each month that part of your pay is for holiday pay? I understand that some employers can do this to get around the Working Time Directive. If your payslip doesn't show separate holiday pay, then have a look here (there are probably loads of even better sites if you Google 'entitlement to leave, Working Time Directive' but this computer is misbehaving atm so this is the best one I can find)

All employees are entitled to a minimum of four weeks' paid leave... :rolleyes: