Ouch finally taking head out of the sand!!

bettyboop61

Hello everyone,

I'm hoping someone out there can help me with my debts. Have been ignoring them, so to speak, was hoping OH would step in and sort them for me, but he seems to want to keep his head in the sand too, and I really can't let this situation carry on..... I have been keeping up with my CC payments but this months, 1 is late now, and I really can't afford to make full repayments on the others this month and from then on its the downward slide eeek :eek:

Ok here goes:

Marks & Spencers CC Balance 1653.41 p/ment 49.60 due
Mint 4155.00 93.00 due
Tesco 4039.22 121.00 late
MBNA 4628.30 109.62 due
Asda 1342.69 53.69 due
Barclay card (Daughters) 275.95 6.00 due
Next Acc. 84.71 10.00 due

OK thats the credit card bills, now our monthly out goings are:

Mortgage 660.00
Electric 100.00
Gas 20.00
Water Rates 31.00
council tax 92.00
tv licence 8.51
Insurances 32.00
car insurance 16.44
car payments 107.98
mobile phone bills 39.99
30.00
Then there is petrol money 20.00 pw
my car insurance 25.00pm
other debt of 30.00pm

Incomings at the Moment is incapacity benefit 338.00pm
DLA 304.00
private pension 386.06

Thats it I think, I really need to know what I should do next, our next mortgage payemnt is due in 2 days we have the money for that but don't know where next months will come from oh yes and we have a 5300 over draft :eek:

Any help would be most gratefully accepted......

Betty

$17mma

Hello hun

I am not an expert but I am more than sure that some of the others will be along soon. Thanks for posting, this not only helps you but others too..

Anyhow can the mobile phones not come down a tad. That is £70 per month on talking..:eek: try and switch to pay & go for a while.

And do you think you will be able to switch any of your cards to 0% ones?

Re: your overdraft, think about asking the bank to assist you with a manage down by an amount that you can afford either monthly or weekly.

Can you get a part time job to bring in some extra income?

Oooh just seen your electric that seems a bit high! I am sure someone will come along to help with utilities soon.

bettyboop61

Thankyou emma,

I'm such a coward, but mobiles are locked into a contract, how would i go about cancelling contracts but doesn't that incur charges too????

$17mma

bettyboop61 wrote:

Thankyou emma,

I'm such a coward, but mobiles are locked into a contract, how would i go about cancelling contracts but doesn't that incur charges too????

How long have you been in your contract for? even though you are in a contract you can still call and reduce your tariff. Then when your contract is over switch to pay as you go if necessary.

Find out what tarriffs they do and then ask them to change it. This is not in breach of your contract as long as you have passed the 3 month marker, however you will have to continue with the contract that you reduce it to until your 12 month anniversary. Call them and check.

bettyboop61

Thank you for that, will ring them now......

$17mma

bettyboop61 wrote:

Thank you for that, will ring them now......

Good girl, will be waiting to hear what they say.

mom23

Hi Betty
Welcome to MSE

you don't seem to have included food etc in your soa ?

climbgirl

I think you need to call CCCS or Paylplan for some advice (free advice) - your income is much, much lower than your outgoings at the moment, I've just added up your figures (quickly, I think I'm right!). And if this doesn't change in the very near future, you're going to miss more payments and start heading into charges/defaults territory.

Total Debt - 16179.28

Incomings - 1028.06

Outgoings - 1272.92 (not including debt repayments)
Debt repayments - 442.91

Total outgoings - 1715.82

monthly shortfall - 687.76.

This is a big shortfall and even though we can cut bits off your bills, I don't think we're going to find £700. You haven't mentioned food or anything like that either...

Is there anyway the income can increase in the (very) near future?

Would suggest you call CCCS or Payplan pronto.

gingerfurball

I hope I don't seem cheeky, but why are you paying your daughter's CC bill? Could she make a contribution to the house?

bettyboop61

who are payplan? sorry just on to the mortgage company. will update shortly.

thankyou

$17mma

gingerfurball wrote:

I hope I don't seem cheeky, but why are you paying your daughter's CC bill? Could she make a contribution to the house?

Yes why are you paying your daughters CC bill? this is setting you back nearly £280 per month. That you cant afford.