Plan of Action Needed

Liccle_Sarah

Can anybody please help me out on how i can put a plan together to deal with my debts as i really dont know where to turn for the best. I have pasted my SOC below. I currently live with my partner who pays all, bills mortgage etc. I currently pay him £300 a month to contribute. I have a number of debts on credit cards with my Halifax one @ £4200 causing me the most problems as the minimum repayment is over £100 a month. I also have a loan with £7000 left to pay not due to end until 2012. I am unsure what to do as i have already transferred £2000 onto a 0% card which was the maximum they would let me transfer at the time. I should have a good redit rating as i have never been late or missed any payments. Any ideas would be appreciated. Thanks


Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2


Monthly Income Details
Monthly income after tax................ 1050
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1050


Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 300
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 0
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 150
Clothing................................ 10
Petrol/diesel........................... 100
Road tax................................ 10
Car Insurance........................... 58
Car maintenance (including MOT)......... 5
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)...... 10
Haircuts................................ 0
Entertainment........................... 100
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 743



Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 1000
Total Assets............................ 3000

No Secured nor Hire Purchase Debts


Unsecured Debts
Description....................Debt......Monthly...APR
Halifax Loan...................7000......220.......9
Halifax Credit Card............4200......100.......12
Virgin Card....................950.......25........18
Egg Card.......................2200......45........0
Total unsecured debts..........14350.....390.......-



Monthly Budget Summary
Total monthly income.................... 1,050
Expenses (including HP & secured debts). 743
Available for debt repayments........... 307
Monthly UNsecured debt repayments....... 390
Amount short for making debt repayments. -83


Personal Balance Sheet Summary
Total assets (things you own)........... 3,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -14,350
Net Assets.............................. -11,350

RAS

Hi

Groceries is for how many?

Do you not have a mobile or landline?

And you really need to halve that entertainment budget.

Also read the boost your income thread on the front page, for ideas on how to get a bit extra.

And put every penny towards that Virgin card as it is the most expensive.

beanielou

Entertainment seems high.
Could you increase your income?