Where do I go from here? Advice Please

thepalace1

Looking for a little bit of advice really, Where do I go from here? I have done a SOA thingy as below



Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 700
Partners monthly income after tax....... 0
Benefits................................ 720
Other income............................ 0
Total monthly income.................... 1420
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 70
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 83
Electricity............................. 60
Gas..................................... 60
Oil..................................... 0
Water rates............................. 50
Telephone (land line)................... 6
Mobile phone............................ 0
TV Licence.............................. 24
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 480
Clothing................................ 20
Petrol/diesel........................... 40
Road tax................................ 16.8
Car Insurance........................... 19
Car maintenance (including MOT)......... 30
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...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1408.8

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 150
Other assets............................ 0
Total Assets............................ 150

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 2500.....(70).......0
Total secured & HP debts...... 2500......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
CLC Finance....................541.75....70........0
Provident Personal Cr..........526.......60........0
Shopacheck.....................293.1.....13.6......0
HM Court Services..............2000......20........0
Littlewoods Group..............500.......30........0
Studio 24......................300.......25........0
Bradford Council...............2000......20........0
Yorkshire Water................400.......20........0
Brighthouse....................2500......70........0
Pioneer Finance................259.......53........0
Total unsecured debts..........9319.85...381.6.....-

Monthly Budget Summary
Total monthly income.................... 1,420
Expenses (including HP & secured debts). 1,408.8
Available for debt repayments........... 11.2
Monthly UNsecured debt repayments....... 381.6
Amount short for making debt repayments. -370.4
Personal Balance Sheet Summary
Total assets (things you own)........... 150
Total HP & Secured debt................. -2,500
Total Unsecured debt.................... -9,319.85
Net Assets.............................. -9,169.85
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

RAS

welcome

is the problem that you do not know the APRs or that you are not paying the debts?

Also have you spoken to any of the debt charities here http://www.moneysavingexpert.com/loans/debt-help-plan#help

Any of these debt council tax or court fines etc?

Can you list consumer debt and priority debt separately?

thepalace1

Hi Ras, thanks for replying.

The problem is we are paying them as much as we can, sometimes £2 or £3 per company. The main problem is the way the companies act, Mainly Provident, CLC, Shopachek, Pioneer, they bang on the doors badgering for money, making m feel sick and depressed, I know These are my debts and they need sorting out, but they will not take no for an answer, if I only have £3 this week to pay provident then all i have is £3,

Mostly we are usuing monies from other budgets, like Living expenses (food) to pay the loan men.



The one mentioned above to Bradford Council is Council Tax, and the other £2000 is to HM Court Services for Fines, am I right in thinking that these two are classed as Priority Debts?

Consumer Debt is

CLC
Pioneer
Shopacheck
Provident
Brighthouse

the priority ones

Bradford COuncil
HM Court Services


Are gas and electric arrears priority?????

crapwithcash82

thepalace1 wrote: »

Looking for a little bit of advice really, Where do I go from here? I have done a SOA thingy as below



Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 700
Partners monthly income after tax....... 0
Benefits................................ 720
Other income............................ 0
Total monthly income.................... 1420
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 70
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 83
Electricity............................. 60 Could this be combined with gas for a cheaper deal? Try Quidco?
Gas..................................... 60
Oil..................................... 0
Water rates............................. 50
Telephone (land line)................... 6
Mobile phone............................ 0
TV Licence.............................. 24
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 480 This is huge! We shop for the same number of people in the household and don't spend more than £200 per month
Clothing................................ 20
Petrol/diesel........................... 40
Road tax................................ 16.8
Car Insurance........................... 19 Although this is cheap, you could do it through quidco when you renew and get cashback
Car maintenance (including MOT)......... 30
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...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1408.8

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 150
Other assets............................ 0
Total Assets............................ 150

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 2500.....(70).......0
Total secured & HP debts...... 2500......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
CLC Finance....................541.75....70........0
Provident Personal Cr..........526.......60........0
Shopacheck.....................293.1.....13.6......0
HM Court Services..............2000......20........0
Littlewoods Group..............500.......30........0
Studio 24......................300.......25........0
Bradford Council...............2000......20........0
Yorkshire Water................400.......20........0
Brighthouse....................2500......70........0
Pioneer Finance................259.......53........0
Total unsecured debts..........9319.85...381.6.....-

Monthly Budget Summary
Total monthly income.................... 1,420
Expenses (including HP & secured debts). 1,408.8
Available for debt repayments........... 11.2
Monthly UNsecured debt repayments....... 381.6
Amount short for making debt repayments. -370.4
Personal Balance Sheet Summary
Total assets (things you own)........... 150
Total HP & Secured debt................. -2,500
Total Unsecured debt.................... -9,319.85
Net Assets.............................. -9,169.85
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Hope my comments help, quidco is a great cashback site, every little helps!! Also, do you plan your meals ahead for each week before you do your food shopping? I've started doing this and it has helped me make some good savings each week on my weekly food shop - saves you buying loads of stuff that ends up being chucked because its out of date before you've used it.

Good Luck in clearing your debts, I'm sure with the help of the people on this site, you'll manage to get things under control and more managable!

fatbelly

thepalace1 wrote: »

Mainly Provident, CLC, Shopachek, Pioneer, they bang on the doors badgering for money, making m feel sick and depressed

These are NON-priority with a capital NON!

Priority or non-priority depends on what they can do. These guys can do nothing. HMCS can imprison you, likewise (but less likely) council tax, so they're the biggest priorities.

I think you need some help here. Have you thought about contacting your local CAB? Provi are particularly good at withdrawing their collectors once CAB get involved. CAB should also be able to helpto sort out your budget, check your benefits and agree affordable repayments to the priority guys.

Elec and gas are usually termed priority because in theory your supply can be disconnected but what hapens in practice is you get a prepayment meter installed.

RAS

thepalace1 wrote: »

The one mentioned above to Bradford Council is Council Tax, and the other £2000 is to HM Court Services for Fines, am I right in thinking that these two are classed as Priority Debts?



the priority ones

Rent
Existing Coucil tax
Bradford COuncil
HM Court Services
Utilities
Food

Consumer Debt is

CLC
Pioneer
Shopacheck
Provident
Brighthouse

You urgently need to talk to one of the debt charities listed here http://www.moneysavingexpert.com/loans/debt-help-plan#help

Stop paying all the consumer debt for the while.

On the other hand your partner needs a serious talking to if your housekeeping is £480. There are people on here feeding 4 on £150 and £200 would be more like it. If you can skin a bit off the fuel costs and pare the utilties back a bit, you can do this.

Teach her to do all the clicks and surveys on her, go on Money Savmg Old Style to learn to budget properly and start hitting those debts.

What worroes me is the possibility that she has her own catalogue qand credit debts which shwe is funding from the housekeeping? Do you know?

Am going to have a bash at your SOA in a mo.

RAS

thepalace1 wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 700
Partners monthly income after tax....... 0
Benefits................................ 720
Other income............................ 0
Total monthly income.................... 1420
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 70 - what is this fir?
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 83
Electricity............................. 60 - try and get this down to £100 joint.
Gas..................................... 60
Oil..................................... 0
Water rates............................. 50 - very high - any reason why?
Telephone (land line)................... 6
Mobile phone............................ 0
TV Licence.............................. 24 - should be £12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 480 - get down to £200
Clothing................................ 20 - sign up for www.freecycle.org
Petrol/diesel........................... 40
Road tax................................ 16.8
Car Insurance........................... 19
Car maintenance (including MOT)......... 30
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...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 - where do you get the money from for these/
Haircuts................................ 0
Entertainment........................... 0 - DITTO
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1408.8

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 150
Other assets............................ 0
Total Assets............................ 150

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 2500.....(70).......0
Total secured & HP debts...... 2500......-.........-
Unsecured Debts

Priority
Bradford Council...............2000......20........0
Yorkshire Water................400.......20........
HM Court Services..............2000......20........0
You need £60 to cover these

Description....................Debt......Monthly...APR
CLC Finance....................541.75....70........0 - the APR on this is probably huge
Provident Personal Cr..........526.......60........0 - and this
Shopacheck.....................293.1.....13.6......0
Littlewoods Group..............500.......30........0
Studio 24......................300.......25........
Brighthouse....................2500......70........0
Pioneer Finance................259.......53........0 - how long before this is paid off?
Total unsecured debts..........9319.85...381.6.....-

Monthly Budget Summary
Total monthly income.................... 1,420
Expenses (including HP & secured debts). 1,408.8
Available for debt repayments........... 11.2
Monthly UNsecured debt repayments....... 381.6
Amount short for making debt repayments. -370.4
Personal Balance Sheet Summary
Total assets (things you own)........... 150
Total HP & Secured debt................. -2,500
Total Unsecured debt.................... -9,319.85
Net Assets.............................. -9,169.85
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

right, you need £60 a month taken off the housekeepong to stop the priority debts turning into chaos.

You have potentially another £150 - 200 to pay the rest of the debts, which you cant quite do at the moment.

Your income level means that you may be in a benefit trap - I suspect that at your current wage, any increase you achieve in income will cost you 90p in the £1 in lost benefits. There will be a point where you would gain substantially, particularly if your OH went out to work, as she would not pay tax and NI on her income up to £100 per week. So you need specific tailored advice.

First thing though is a serious chat with OH, cut back the house keeping and make prorata payment to the creditors.

Fire_Fox

Your gas and electricity are double what I would expect, and your grocery budget is very high. Check out the 'old style' and 'gas and electricity' message boards. Plenty of £1 shops about in Bradford, also try Home Bargains, Lidl, Asian butchers and greengrocers etc.

Do either of you smoke? Apologies if not, but it's often hidden in grocery budgets. The Stop Smoking Service is excellent in Bradford, with a drop in clinic held every Monday in the city centre. Prescriptions for nicotine replacement are completely free.

Do you really need to run a car? Metro offer various public transport discounts to those on benefits or those who can prove residency (pink card). I appreciate your car probably isn't worth a lot, but it's a lot cheaper on a month by month basis as you will never have to pay for new tires or brake shoes!

RAS

Palace

How are you doing?

gratefulforhelp_2

Palace it is not an insoluble problem. Keep at it and God bless you, the kids and the missus. x

thepalace1

Thanks to everyone who has helped with advice, much apprechiated.

The update is as follows.

Not sure if I mentioned in earlier posts, I am male and my partner is the one who is currently working. We decided to do it for now where she would work and I would look after the kids as I am the only one who drives, so for the moment it works out cheeper as I can take her to work, and save the most money by being available to take the kids to school, the kids are 3 and 4, and are in different schools miles and miles apart from each other, so it was more viable for me to do the school runs.

My 3 year old is in Full Time nursery from September as apposed to the half days she is in now, so come September we have planned for the two children to be in the same school, which has an after school club till 6pm so from September I will be able to work also.

As for the grocery situation at £480, this has was because my daughter has many food alergies and we had to shop at certain places and by certain foods, we have been consulting with a very good dietician through are GP and this has reduced our food bill for the month down to £210.

I went to one of the switch websites for gas and electricity and switched to a DUAL FUEL plan and am now paying almost 55% lower in Gas and Electricity.

The ""LOAN MEN"" were good in some parts.

Pioneer Finance have given me 8 weeks grace and left us alone too get finances back into order, very good of them, they said they will re-assess after 8 weeks

Provident have let me reduce payments to a couple of quid for the time being.

Shopachek did a rewrite on the loan i had adding NO further interest, just rewriting the existing loan over 100 weeks dropping the payments by a good 150% or there and there abouts

CLC on the other hand were very unhelpfull and the collector was not helpfull at all, he kept saying he was not bothered about our situation and that he took priority over other creditors, he had a red face when I shouted back at him, not seen him for 2 weeks now.

The HP entry above for £70 per month is £17.50 per week to brighthouse for a couch we got a year ago.

There was tobacco penciled into the grocery costs, we are trying are hardest to stop smoking, This is an ongoing battle, one I think is obtainable but just hard at the moment.