Help please? SOA below.....

Trollfever

Number of cars owned.................... 4

Is this a typo?

littlemissmoney

smartiedriver wrote: »

I pay the life and CI cover because if I couldn't work for any reason I need an income, and if I were to die my debts need to be cleared from my estate; my family couldn't clear them..

If you die your debts are paid out of your estate (after funeral costs). If your debts are bigger than your estate then they are written off. Your family would not have to pay them (unless any of the debt is in their name).

If you became too ill to work, wouldn't you just make yourself bankrupt anyway?

littlemissmoney

If you get the bus to work, why do you need a car?

LeeSouthEast

Do your parents own a TV and pay for a TV license? A premises only requires one, regardless of the number of TV's within

littlemissmoney

smartiedriver wrote: »

The prescriptions is actually dental cover with Denplan - I had two crowns about three years ago that cost me over £600 and as I can't afford to fork that out again I pay monthly for dental cover.

But since then you have paid £928.80 (3 years payments) for this dental cover! You could save the money each month instead incase you need further treatment.

Edit: If you really want it, then I'm sure you can find it cheaper:
http://www.moneysavingexpert.com/insurance/healthcare-cash-plans

loupee

If you use public transport for work, how do you spend £200 on petrol?
I don't drive, that even to me that seems extravagant?!
Correct me if i'm wrong.

creditcrunchcharlotte

What about a second job thats flexible around your commitments? This is something that I am looking at at the moment. Promotion work is pretty well paid and there are loads of agencies you can sign up to - do a search on google - its the handing out free stuff in shopping malls etc you can get some brilliant ones too like promotions in festivals etc so free tickets so can be fun too. Another thought - and I accept that this isn't for everyone is if you are fit etc and can cope with it then join the reserve armed forces - pays well, gives you loads of qualifications, great social life and is flexible - if you are too tired that week or have something on then you are under no obligation to go. but if you do make their minimum hours you get a great tax free bonus in february which can go straight on overpaying your debt

Horace

Contact one of the debt charities such as CCCS - there is a sticky at the top of the forum about them. It would be better to do the IVA through them rather than the company you use at present, it will cost you less and you won't have to pay fees like you do to the company you use at present.

Rather than buy lunches at work, take a packed lunch as it is cheaper. Definitely keep a spending diary as that will show where your money is going. As for presents - look on the freebies board as sometimes there is something there and look at the up your income board for tips on increasing your income by mystery shopping, getting paid for surveys etc.

If you have stuff that you don't use sell it on ebay. Re your mobile phone - ring T Mobile and say you are leaving them, they will soon change your contract, if they don't change your contract leave them anyway - virgin mobile are pretty good, you either have PAYG or a pay monthly (the pay monthly scheme is you pay by dd each month but only for calls that you have used - like PAYG but without the hassle).

smartiedriver_2

Hi, loads of bits to reply to here..... firstly travel. I live in Essex, work in London thus commute on the train. The added cost is but fare across London which I have already said is cheaper than tube. The petrol is travel to my partner in Manchester.

I live with my parents, and part of the deal is I pay tv licence etc for them; they are pensioners on a very limited income, and that is what I have to pay to stay here.

RE joining the armed forces, starting salary is c.£16k; that's over a £10k reduction on what I'm earning now, so that isn't a viable option.

Yes there are 4 cars in my household, but only one is mine, the other 3 are my parents' so are irrelevant to me.

Horace: what would be the point in keep paying my t-mobile contract and paying another as well? Sorry am I missing something? I can't cancel it as I'm obliged under contract, and I can't just cancel the DD as they will pursue me for monies owed. And with my IVA I can't get another contract anyway - as I send approx 1800 txt per month PAYG is far too expensive for me?

Fire_Fox

You can't afford to run a car - this is costing you at least £3000 a year (you have not accounted for maintenance). Sell it and you have £2000 which is two months of the IVA sorted. There is a perfectly adequate train and coach service from London to Manchester - some routes you can travel for £1 (check out Megabus), certainly any tickets booked well in advance are heavily discounted.

Why are you sending 1800 texts per month?? That's 60 a day! If you receive as many as you send you must easily be wasting two hours a day which you could spend making money (matched betting?, surveys?). Start using e-mail or get a phone contract with unlimited calls to landlines (mine is £12 a month).

I am going to look at this from the perspective of the IVA. You earn £1500 a month, of which you will have to pay £900 for the IVA. This leaves £600 a month - £150 for rent, £20 for internet and TV license, £200 for bus and rail fares (guess), £30 for lunches, leaving you £200 a month or £50 a week 'pocket money'. It's perfectly do-able you just need to change your attitude to what is and is not essential.