Shrug... Where to start..?

kayleighj_2

As the title says: I don't actually know where to start, I have moved the direct debits to later in the month.

I Owe:
£8500 on my car
£1000 Lloyds Overdraft

Bills Pm:
£239 Car
£100 Rent (mum)
£11 TV Licence
£10 Life Insurance
£73 Car Insurance
£80-100 (ish) Petrol
£43 Gym

Total: £576pm

I have a credit card with £3000 limit, not used and cut up the card
I have set up an online saver : £1 credit, and have a ISA.

I work 30hours per week, (£7900PA)which I can't work part time as well as I work late. I'm looking for a new job.
Been to the bank to discuss my options, with her saying the only option is a loan (which she somehow thinks I can pay back in a few months, right-oh)

Someone please help!!

SuSu1871

Hiya

You need to complete a SOA (there's a sticky on the forum which will help). This will outline all incomings and outgoings. Once you've done this we'll be able to help you out.

Gemmzie

Are you sure your income is £7900?! Is that after tax? How old are you?

Penny2myName

That looks like minimum wage for 21 and under.

PinkTwirl

Your car insurance sounds very high. Is it a sports car or is it your first car?

98jdougl

would imagine insurance is high due to age (penny mentioning wages being minimum for under 21 so must be a young driver as well)

kayleighj_2

Summary of Monthly Income, expense and surplus

Total monthly income: £ 604
Expenses (incl. secured debts): £ 406
Available for debt repayments: £ 198
Unsecured debt repayments: £ 239 Surplus £ -41

Personal Balance Sheet Summary
Assets: £ 7000
Secured Debt £ -0
Unsecured Debt £ -8569 Net Assets £ -1569

kayleighj_2

Yes my wages are £7900 thats before tax
Wages work out to £5.05ph (I'm 21)

Yes it is a sports car, I cant sell it due to to being worth about £6000 and I
owe £8500 on it.

I do have a car I can sell well hope to sell as parts which should give about £1000