Trying to get back in front

ms_london

Hi Dottyanne. I got your PM - and replied.

I am here until 5:30pm and then back at 09:30am - so dont think I am ignoring you as I want to help & will do my very best (as will everyone on these boards!!).

xx

dottyanne

*zippy* wrote:

Afternoon Dotty

If you click on ms london's name there is a drop down menu click on send a private message and you can send a message directly to a member.

Are you feeling any better today? Hows the paperwork going?

Read on another thread that your OH wasn't very helpful-sorry! you never know he may come round when he sees you making progress or he may feel the same deep down, but feels frightened to admit it out loud.

Just had some advice off the phones board to reduce my calls costs, business and home on the same line so i'm in the middle of sorting that when I noticed you were back online.

Post your figures as soon as you are sorted everyone will soon give you some tips.

Zippy

Hiya Zippy - good to hear from you again - you have been soo kind. Ive spoken to OH about being behind etc and he is not one to get stressed - he just thinks if we havent got it we cant pay em till we have!

I keep remembering debts here and there that you just forget about - !!

I WILL post everything ASAP as soon as ive done it all, will do it on word in dribs and drabs - read it to see it makes sense then copy n paste it on here - so all you great ppl can give me your ever so much appreciated advice!!

Thanks again Zippy! :A

D&DD

Well done Dotty keep at it!

dottyanne

AS PROMISED................YOURE NOT GANNA LIKE IT!!!

MONTHLY DIRECT DEBITS (PERSONAL)

ABBEY MORTGAGE (6.50%) – 774.30
G E MONEY SERVIVING LIMITED (SECURED LOAN) – 208.92
T V LICENCE – 11.07
POWERGEN – 120.00
SKY DIGITAL -42.50
DIRECT LINE (LIFE) – 20.05
DIRECT LINE (CONTENTS) – 36.36
EGG CARD – 40.00 (15.9% APR)
EGG LOAN – 361.80 (7.7% APR) PAYABLE TILL DEC 2011
RBS PERSONAL LOAN – 61.39 (PAID OFF IN AUGUST THIS YEAR)
UNITED UTILITIES - 49.82

ALL UP TO DATE AT THE MOMENT!!

MONTHLY BILLS (PERSONAL)

COUNCIL TAX – 98.00 – UP TO DATE
KIDS SCHOOL DINNERS/SNACK MONEY – 111.00
KIDS AFTER SCHOOL CLUB – 60.00
FOOD (APPROX) – 200.00
OH SMOKING – 125.00

ALL UP TO DATE AT THE MOMENT!!

DEBTS (PERSONAL)

GROUND RENT – 200.00 OVERDUE – TO BE PAID IN FULL
CAPITAL ONE CC – ME – O/S APPROX – 300.00 (17.9%) UP TO DATE
BARCLAYCARD – OH – O/S APPROX – 858.24 (LIMIT 700.00) OVERDUE- THEY WANT 175.00 ASAP
BT – HOME PHONE – 154.51 – OVERDUE ALL DUE
CAPITAL ONE CC – OH – O/S APPROX – 1015.00 (LIMIT 1000.000 OVERDUE – THEY WANT 130.63 ASAP
ROBINSON WAY DEBT COLLECTORS (BRITISH GAS) – OH – APPROX 608.00 – 20.00 PER MONTH – OVERDUE
SCOTCALL DEBT COLLECTIONS AGENCY (DSS) – OH – 3630.64 – 10.00 PER MONTH - UP TO DATE
INLAND REVENUE – TAX CREDITS OVERPAYMENT – 646.12 – OVERDUE SINCE NOVEMBER 2005 – NOT PAID ANYTHING!!
GREAT UNIVERSAL – ME – O/S 651.83 – PAYMENTS OF £30 PER MONTH – UP TO DATE
RBS OVERDRAFT - 4000.00
DAD – 3100.00
MUM – 500.00
BROTHER – CAR LOAN – 37.19 PER MONTH – UP TO DATE

NOT TAKEN ANYTHING INTO ACCOUNT FOR SAVING FOR BIRTHDAYS, CHRISTMAS ETC........


BUSINESS DIRECT DEBITS

SHOP RENT – 368.33
MOTORLINE INSURANCE (VAN) – 52.14
UNITED UTILITIES – 20.88
NATIONAL INSURANCE – 10.50
CARDNET CHARGE – 25.57
VIRTUAL LEASE (EVERY 3 MONTHS) 84.60
MATSU – 30.00
DIRECT LINE (CAR INSURANCE) – 50.00

WAS ALSO 240.12 HP EACH MONTH ON VAN BUT DAD HAS PAID THIS OFF AS VAN FOR SALE – WILL BE PAYING HIM BACK FULLY WHEN VAN IS SOLD

ALL UP TODATE AT THE MOMENT!!!!

BUSINESS BILLS

CAR TAX – 90.75 DUE END OF THIS MONTH *******
ACCOUNTANT – JUNE 05 – 94.00 – OVERDUE
ACCOUNTANT – OCT 05 – 94.00 – OVERDUE
ACCOUNTANT – JAN 06 – 94.00 - OVERDUE
CARS DEBT RECOVERY – 93.71 - 47.00 OVERDUE (DUE BY 17/3/06) THE REST BY SAME TIME NEXT MONTH
BUSINESS RATES – O/S 538.00 OVERDUE FOR LAST YEAR – HAVE WRITTEN TO SEE IF THEY WILL SPREAD OVER THIS YEAR WITH NEW BILL
O2 (BUSINESS MOBILE ) – 60.45 – OVERDUE
BT – BUSINESS PHONE – 80.14 – OVERDUE
INLAND REVENUE – 05 JUL 05 – 120.85 OVERDUE
INLAND REVENUE – 05 AUG 05 – 96.68 OVERDUE
INLAND REVENUE – 05 SEP 05 – 96.68 OVERDUE
INLAND REVENUE – 05 OCT 05 – 120.85 OVERDUE
INLAND REVENUE – 05 NOV 05 – 96.68 OVERDUE
INLAND REVENUE – 05 JAN 06 – 64.21 OVERDUE
INLAND REVENUE – 05 FEB 06 – 96.68 – OVERDUE

PETROL & DIESEL – APPROX £40 PER MONTH

I DON’T THINK IVE MISSED ANYTHING OFF IF I HAVE I WILL LET YOU ALL KNOW!!

INCOME

I GET 178.57 PER WEEK TAX CREDITS
OH GETS 147.00 PER WEEK WAGES (IF WE CAN AFFORD TO PAY HIM)
CLEANING JOB (ME) 50.00 PER WEEK
DAD RENT 90.00 PER WEEK
CHILD BENEFIT – 39.80 PER WEEK
EX HUSBAND – 25.00 WEEK (NOT RELIABLE)

THEN I TAKE WHATEVER THE BUSINESS CAN AFFORD TO PAY ME???

SO WITHOUT MY INCOME – 2298.27 MONTH

AT THE MOMENT MY HUSBAND IS BEING RE- ASSESED FOR HIS 3 KIDS BY CSA SO WE WILL HAVE THIS AS AN ADDITIONAL BILL EACH MONTH TOO (ESTIMATE NO MORE THAN ABOUT £60 PER MONTH)

JAMIEDODGER

what is roughly your income from business per month????

dottyanne

To be honest not sure - fluctuates but take as much out as i can just to keep up - obviously not working though is it???

Chortle_2

I think that you seriously need to consider whether or not this business (have you said what kind of business it is btw?) is viable or not. At least think about whether or not it can afford to pay 2 salaries (clearly it cannot) and whether (at least) one of you should look for alternative employment. Yes, running your own business, and working for yourself is a lot of peoples dream, but it is damn hard work, and often very difficult. I don't think that you're in the right position financially, to be running your own business (sorry, I know you won't want to hear that!)

Are your accounts up to date? Do you make a profit or even break even? I don't know how long this business has been running, but looking at that, I'd hesitate a guess that it's running at a fair loss. A profitable business should be able to cover IR bills at the very least!!

From a business perspective, those 'overdue' bills to the IR worry me. What are they for? Owing money to the inland revenue is a serious business, and as owners, you have a LEGAL responsibility to keep up to date with payments of taxes etc. Not only could non-payment land you with HUGE fines that you won't be able to pay, but you could end up in prison!

I know that you're in serious shtuck with your personal finances, but I'd advise you to look at paying those ASAP.

Looking at your numbers, and reading your previous posts, I honestly believe that you need professional advice. The guys on here are great, but we can only advise so far. Have you looked into free advice from one of the business advice places? Business link and the like? I'd get yourself (armed with the above information) to CAB pronto as well, for the personal finance side of it.

I wish you all the best, you've made a huge step forward in facing up to all of this (must've been terrifying!) but you've got a long road ahead of you.

((hugs))

lynzpower

Phew Dotty Anne! What a long list, no wonder it took you time to sort it out! And emotional too I bet so big hugs x

First things first I will state the obvious.
My first thoughts are!

POWERGEN – 120.00 This seems high! Are you paying off arrears?
SKY DIGITAL -42.50 - GET Rid! Saving 42.50
DIRECT LINE (CONTENTS) – 36.36 - check this Im with the CIS and pay 19. odd.
UNITED UTILITIES - 49.82 ( whats this for? Water?)
KIDS SCHOOL DINNERS/SNACK MONEY – 111.00 ( ok, well Id stop the snack money, and provide the snacks 12 bag of crisps in a multipack costs the same as 3 in a shop!)
I presume that this is for packed lunches - if its not, convert.
KIDS AFTER SCHOOL CLUB – 60.00
FOOD (APPROX) – 200.00 ( try to incorporate kids lunches into this figure..)
OH SMOKING – 125.00 ( of course... but im a smoker, and know where hes at! Can he go to rollies? Potential saving, what 70 a month if not more)
MATSU – 30.00 (sorry, but not sure what this is)
EX HUSBAND – 25.00 WEEK (NOT RELIABLE) ( can you MAKE this reliable, by doing something with the CSA or a family solicitor? I know its harsh, but it needs to be certain)

The other thing I would have to say, is that if your business is not meeting its cost, which if its not even reguarly paying you and the taxman, Id be thinking about whether its really that viable. All businesses have to break even, if they dont they become the money pit. What is the legitimate potential of this business. You say the income varies, but as a rule of thumb are you getting more per month now than before or less. Is it a seasonal business ( ie gift shop, holiday souviner shop) or is it something out of the ordinary? I feel for you, as you seem to both be working so hard here. Could there be another angle that you havent thought of with your business? PLease let us know if theres anything marketing or ideas wise- there are some amazing ideas on this board

I want to say, a massive well done, Ive been rooting for you for a couple of days

All the best Lynz
xx

JAMIEDODGER

dottyanne. what i meant was....before you take any wage from the business, on an average month how much does the business bring in before anything gets paid out ie total incommings.....just an average would be helpful

JAMIEDODGER

other questions:

united utilities...is that electric?

how many kids do you have?

ground rent...is than an annual bill?

bt....does that cover broadband too....how much is your normal monthly bill with bt? can you split it down into how much you pay for broadband and how much is your landline...and what option are you on?

have tax credits requested you to pay back any overpayment yet?

how much do your dad, mum and brother expect you to pay them each month?



sorry its a lot of questions dotty!