please help me im really scared

RAS

The car is a company car so OH only has to pay for personal petrol.

dancingfairy

Ahhh. I see -I must have missed it somehow.
df

mummyofboys

Hi,
just on the phone at the moment, littlewoods account 700 got reffered to nationwide debt recovery and they set me up a payment plan of 200 per month which i couldnt afford- i even stated this. So the first month payment was june- i made 100 pound payment and explained couldnt afford new payment. They said they couldnt readjust the plan so i have obviously got this letter "notice of default on your agreed arrangment" I have called up and they said they cannot re do the plan. what they can do is put it on an intrest account which would lower the monthly payments quite low, over 1,2 or 3 years but she said it is high intrest. She said someone will call me back in the next 48 hours to sort this out and tell me ins and outs. It seems like my only option so i can lower monthly payments? the total owed is 700

mummyofboys

dancingfairy wrote: »

Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 55 Now 45 ? correct
Gas..................................... 55 Now 50? correct
Oil..................................... 0
Water rates............................. 45
Telephone (land line)................... 40
Mobile phone............................ 148 Not sure what the situation is with these now? If you can negotiate them all down to 25 a month that would save another 48 a month? havent rung them yet currently am cut off on 2 off them and owe 120 to be reconnected.
TV Licence.............................. 11.95
Satellite/Cable TV...................... 46 to cancel? can you get tv/internet and home phone all in one as that should save you. is going to be cancelled and get freeview
Internet Services....................... 17.5 is high but my partner had loads of problems with bt and be un ltd do have fast speeds he tells me which he needs?
Groceries etc. ......................... 200
Clothing................................ 0 need something here as you will eventually need to buy some stuff. Yes in future may needs bits but we dnt spend alot and also my little boys clothes he gets alot from my brother who is 8 months older
Petrol/diesel........................... 60
Road tax................................ 0 some figures here might help company car
Car Insurance........................... 0 and here? company car
Car maintenance (including MOT)......... 0 and here? company car
Car parking............................. 0
Other travel............................ 15
Childcare/nursery....................... 416 need to speak to mother in law AND check out the childcare vouchers others have mentioned. will do tonight with mum and then on monday at work
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 Think you probably should have this - shop around and maybe go through Quidco or somewhere to get cashback as well - maybe cost you 10-15 a month depending?
Life assurance ......................... 0 need to get
Other insurance......................... 23.98 to cancel? canceling
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1788.43

Well I reckon you've saved 80-90 a month already if you can cancelled sky and the laptop insurance etc. You could easily save another 50 a month on the mobiles but I would sort out the childcare first as you may still not be able to afford the mobiles - I am not sure. Childcare is the priority to sort out next I would say.
Good Luck
df

thanks for your comments, feel free to add anymore

Ames

When did you get the littlewoods debt?

mummyofboys

ive had my account for about a year and a half, however i was always paying untill perhaps 6 months ago, hence the reason it got moved to nationwide debt collectors

the_cat

Hold fire on sorting the littlewoods debt until you have spoken to your step mum about the childcare. and found out about the childcare vouchers. This could make enough of a difference for you to afford the £200

you have made great strides already in reducing your costs, well done! maybe if you redo your soa including all the adjustments and cutbacks you will find you can manage this as its for such a short time

If they phone, stall for time by saying that you need to see the terms and conditions in writing before agreeing to anything. You should always do this anyway.

dancingfairy

Would check out the current account as well - you are getting 500 pounds (sorry I have an amercian keyboard so no pound sign) interest free a month on the overdraft but are paying 25 a month for the priveledge. As far as I can tell you would be better off paying interest on the overdraft as it surely won't cost 25 a month? Do you actually need or use any of the other features you are paying for on your current account? If there is one or 2 you need (for the sake of argument say travel insurance) you can probably shop around and get them cheaper anyway to be honest - generally packaged accounts aren't good value for money.

df

dancingfairy

I think you should also hold back on sorting the mobiles out as it also really depends on what happens with reagrds to the childcare as well. Once you have the childcare sorted you will be much clearer where you stand with things.
You will then know whether you can afford to pay the amount owing and then carry on with much reduced tariffs, whether to haggle,haggle ,haggle for reduced tariffs and try and come to some sort of arrangment to pay back the arrears over several months or whether to give up on the mobiles altogether and go Pay as you go and add you phone debts to your debt list and try and organise a debt management plan.
First things first though - the childcare is the key.
Good Luck - you have made massive progress already.
df

P.S What's other travel - did I miss that?

mummyofboys

Thank you everyone. I have just set up a basic account with abbey, just a cah card. It will be here within 7 days i feel i will b able to handle my account much better if I just see my overdraft as another loan, which I just pay into to clear, that way hopefully i will stop getting charges ect.

Other travel is my bus fayre, I dont drive and me and my boyfriend work different places and at different times, so When he cant drive me i take me to work and little one to nursery.
Im really excited to speak to my mum about doing the childcare on a different day. This alone would cut my fees from 416 per month to 270 per month, also meaning on the tuesday I would have my son, therefor meaning i have tuesdays ,wednesdays and the weekend to spend time with him, I hope she can do it!.