Debts that need sorted out

clare1510

Hi everyone

Here is my SOA. I hope I have filled it out ok. Some of the bits were confusing.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 3
Number of children in household......... 0
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 1014
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1014

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 360
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 15
Mobile phone............................ 45
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 140
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 80
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 25
Holiday................................. 0
Emergency fund.......................... 0
Tobacco................................. 90
Total monthly expenses.................. 867


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Aktiv Kapital..................1271......0.........0
Aktiv Kapital..................2260.9....0.........0
Aktiv Kapital..................308.07....0.........0
Apex Credit Managemen..........2377.4....0.........0
Moorcroft Debt Recove..........556.61....0.........0
Total unsecured debts..........6773.98...0.........-


Monthly Budget Summary
Total monthly income.................... 1,014
Expenses (including HP & secured debts). 867
Available for debt repayments........... 147
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 147

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -6,773.98
Net Assets.............................. -6,773.98

Reproduced on Moneysavingexpert with permission, using Firefox browser.

bank_of_slate

Gotta post and run Clare, thanks for posting this, I will have a better look a little later
...Linda xx

Lensman_2

Just for clarity, have you had default notices for all of these? Therefore no further interest is being charged?

There are some contact details in my sig. Please give CCCS or NDL a ring.

The DCAs can and will use every tactic in the book and many more that are not in it to frighten you in to paying more than you can afford. If you can arrange a Debt Management Plan it will get them under control.

Well done for facing your situation. With the help and support you will get on here, you should be able to get this lot under control and make it sensible and sustainable.

fatbelly

clare1510 wrote: »

The other debt I have is now with my mobile phone company who are looking for the rest of my contract payment due to late payment of monthly amount.

Is that the £45 in your soa? From your figures it looks affordable if a bit high.

The thing is ... you are going to have to pay the amount owing on the remainder of the contract so you might as well use it if you can.

Also, the easiest way of bringing this down is to get to the halfway point and ask if they will transfer you on to a lower tariff.

What's the story with the other 2 adults in your household? Do they have any income? Do they split the household expenditure with you?

clare1510

fatbelly wrote: »

Is that the £45 in your soa? From your figures it looks affordable if a bit high.

The thing is ... you are going to have to pay the amount owing on the remainder of the contract so you might as well use it if you can.

Also, the easiest way of bringing this down is to get to the halfway point and ask if they will transfer you on to a lower tariff.

What's the story with the other 2 adults in your household? Do they have any income? Do they split the household expenditure with you?

Yes thats the £45 in my SOA. Was not sure whether to include it or not seeing as they were asking for the full contract amount.

The two other adults in the flat are just my flatmates. Bills and things are included in the rent so there are no bills split up and obviously their income doesnt come in to it.

Horace

A quick question is the grocery bill for you or for everyone? If it is just you then you can get this down by buying budget labels and if you look at the moneysaving oldstyle board elsewhere on this forum you will find out how to meal plan. I live on my own and my grocery bill is £50 a month at most.

If you cut your entertainment budget for a few months as well as the clothing budget then that will free up more to chuck at your debts. Look on the freebies board for details of free cinema tickets etc.

If you can cut down or better still cut out altogether your tobacco spends then you will save even more money (I think there is a giving up smoking thread on this board).

Keep a spending diary and note down everything that you buy - from the odd coffee and cake you have when you are out, to the sandwich you buy for lunch and the magazines/newspapers that you read - they all add up.

clare1510

The grocery bill is just for me. It includes cleaning products, toiletries etc. One of the reasons it is as high at the moment is that I am on a diet and the foods I need for that make it more expensive. However I have started buying own brand products and I am going to start going to a nearby market to get fruit and veg etc.

My smoking is cut down at that amount as I used to smoke like a chimney lol. But I am going to try and cut down a bit more in the aim to stop completely.

Told my friends that going out for me is getting cut down to a minimum. Luckily we tend to go to each others houses anyway rather than go out on the town and it is much cheaper to cook a meal!

I will definitely keep a spending diary as I think it will shock me especially on the wee things I dont even think about.

Thanks for all the advice everyone.

Clare xx

lilian1977

What kind of diet are you on Clare?

clare1510

lilian1977 wrote: »

What kind of diet are you on Clare?

Hi Lilian

I am on the Tesco Diets doing the GI one. Working out really well so far but the stuff you have to get for it definitely adds up. They have started a thread though on their boards of ways to save a bit of cash doing it as people seem to have the same problem.

So going to have a look at that for ideas.

strumpet

Hi Clare.

Good luck with clearing your debts. You've taken the biggest leap by coming on here and bearing all (so to speak!!!:shocked: )

The folk on here are marvelous at taking your spends to bits and putting them back together again. Suddenly you find you have more cash to throw at your debts than you thought.

Chin up

Strumpet
xxx