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My SOA. It's a bit tight - advice gratefully received
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Thanks for your sound advice homeaway, much appreciated. It seems the general consensus is to cut expenditure rather than look into IVA's, DMP's or Bankruptcy.0
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Well, TBH, I could have told you that earlier but I'd thought I'd wait and see what everyone else said.
I suppose it's a better alternative than BR. If that is not what was needed that is. Though I am sure you have already considered the consequences of BR itself anyway. So don't need me to tell you.Any help, opinions, views I may hold those are my own. Respect them as you would expect the same in return. Offered freely, is gleaned from a lifetime of experiences, knowledge gaining. Passed on to benefit others. I may be direct, ask you questions but those are to help you. Up to you if you choose to take it. I won't judge you either way.
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Don't worry Merlin, we can't all be ahead of the game all of the time...and it is getting late
Actually I think I'm going to have to try and earn some extra money, which I can hopefully do, but I'm worried about the tax threshold because I'm only just under it - and really wouldn't relish paying 40% tax plus 11% NI.
Need to find a brilliant accountant - in fact I know of a friend who earns significantly more than myself, and yet only paid £850 tax! Brilliant!0 -
Oh, I'd love to be ahead all the time but not. :rotfl:Don't worry Merlin, we can't all be ahead of the game all of the time...and it is getting late
Edit - I don't normally post on the SOA threads. Any help, opinions, views I may hold those are my own. Respect them as you would expect the same in return. Offered freely, is gleaned from a lifetime of experiences, knowledge gaining. Passed on to benefit others. I may be direct, ask you questions but those are to help you. Up to you if you choose to take it. I won't judge you either way.
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NoddingDog wrote: »Don't worry Merlin, we can't all be ahead of the game all of the time...and it is getting late
Actually I think I'm going to have to try and earn some extra money, which I can hopefully do, but I'm worried about the tax threshold because I'm only just under it - and really wouldn't relish paying 40% tax plus 11% NI.
Need to find a brilliant accountant - in fact I know of a friend who earns significantly more than myself, and yet only paid £850 tax! Brilliant!
SoA seems sane - car is old - what did you spend it all on? Could it happen again?0 -
Well neither do I, after all, I'm a newbie!
But haven't read several posts across the forum, I realise that compared to some people, things aren't as critical as I had thought, although I do need to shift some debt. The way things are going I should be paying off around £6000 per year. Not bad, but could be better.0 -
should read 'having read' not 'haven't read' ......I told you it was late...0
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Hi Barnaby, I worked overseas on a very low salary for a period of four years, and supplemented my income with loans etc.0
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But haven't read several posts across the forum, I realise that compared to some people, things aren't as critical as I had thought,
No, they normally never are. Adjustments are never easy but are ... possible. Any help, opinions, views I may hold those are my own. Respect them as you would expect the same in return. Offered freely, is gleaned from a lifetime of experiences, knowledge gaining. Passed on to benefit others. I may be direct, ask you questions but those are to help you. Up to you if you choose to take it. I won't judge you either way.
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At least you can say you did something interesting with it then..... you really need your APRs as high level of debt but decent income and if decent credit record you maybe able to do some serious snowballing or shuffling tricks to optimise paying it off (shuffling where you pay off one then transfer balance from another higher onto cleared card onto a lower rate as often will offer you something better to get the business, snowballing overpay the highest interest rate one a bit then cascade down).NoddingDog wrote: »Hi Barnaby, I worked overseas on a very low salary for a period of four years, and supplemented my income with loans etc.
How old are you? Your main expenditure other than loans is basic living - house share with 3 others and you slash the council tax, and a lot of the utilities.... ? Big lifestyle change but could free up £400-500 a month for overpayments....0
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