new here looking for debt help

mummy_duck

I am new here and a bit nervous about posting after previous post on the utilities forum where I felt I was really attacked for being stupid! I got to the point this week where I felt I needed help and could no longer cope when my overdraft was at it's limit and my cards all maxed and I couldn't get my weekly shop. I have done an SOA:

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 680
Partners monthly income after tax....... 0
Benefits................................ 900
Other income............................ 900
Total monthly income.................... 2480
Monthly Expense Details
Mortgage................................ 225
Secured/HP loan repayments.............. 0
Rent.................................... 493
Management charge (leasehold property).. 0
Council tax............................. 121
Electricity............................. 100
Gas..................................... 113
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 64
Mobile phone............................ 10
TV Licence.............................. 12
Satellite/Cable TV...................... 47
Internet Services....................... 0
Groceries etc. ......................... 520
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 10
Car Insurance........................... 25
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 90
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 25
Buildings insurance..................... 0
Contents insurance...................... 25
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 80
Haircuts................................ 40
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2190

Assets
Cash.................................... 0
House value (Gross)..................... 80000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 82000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 33000....(225)......0
Total secured & HP debts...... 33000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................4000......130.......18
credit card....................4000......120.......12
credit card....................3500......99........12
overdraft......................2000......40........6
Total unsecured debts..........13500.....389.......-

Monthly Budget Summary
Total monthly income.................... 2,480
Expenses (including HP & secured debts). 2,190
Available for debt repayments........... 290
Monthly UNsecured debt repayments....... 389
Amount short for making debt repayments. -99
Personal Balance Sheet Summary
Total assets (things you own)........... 82,000
Total HP & Secured debt................. -33,000
Total Unsecured debt.................... -13,500
Net Assets.............................. 35,500

I have contacted the cccs but my budget with them shows I am able to cope so not a lot they can do, they say this could be because my daughter is 18 so counted as an adult therefore bills are halved. I will take any help or advice you want to throw at me!

LoveMarmiteOnJacketSpud

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 680
Partners monthly income after tax....... 0
Benefits................................ 900
Other income............................ 900
Total monthly income.................... 2480
Monthly Expense Details
Mortgage................................ 225 Mortgage & rent??
Secured/HP loan repayments.............. 0
Rent.................................... 493
Management charge (leasehold property).. 0
Council tax............................. 121
Electricity............................. 100 *
Gas..................................... 113 * These are both very high
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 64 This is high..can you blcok some outgoing calls to cut this down or minimise use?
Mobile phone............................ 10
TV Licence.............................. 12
Satellite/Cable TV...................... 47 I think this has to go..can you use freeview instead as it costs nothing each month?
Internet Services....................... 0
Groceries etc. ......................... 520
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 10
Car Insurance........................... 25
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 90
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 25
Buildings insurance..................... 0
Contents insurance...................... 25
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 80
Haircuts................................ 40
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2190

Hi i'm pretty new to this so i'm sure someone else will be along soon x

Nixxx

Hi Mummy Duck and welcome

This board is alot nicer so you'll be fine. I'm no expert but your electricity, gas, telphone (land line) and groceries strike me as your biggest problems.
Try the old style board to knock a few hundred quid off your groceries.

I'm sure there will be someone along soon with more expert advise.

Congratulations on tackling your debt!

Tixy

Hi and welcome to the friendly board!

Well done for posting your SOA. How did your budget with CCCS differ from the SOA you have posted above? What did it show as you amount available for debt repayments?

Looking at your figures - what is the £900 other income?
I assume you are in shared ownership?
Your gas & elec do look high (won't send you back to utilities tho!) so are you in arrears? Are these based on estimated readings or actal readings?

Landline & satellite are both high. If you do a combined package you would get much cheaper. Or ditch sky and use freeview? Do you have a lot of calls on your landline? Have you considered using Skyp (free calls over the internet)?

Groceries seem really high - you may need to cut back here a little, its possible to cut back to £80pppm or even less (which would be £320) but even if you cut down by £100 you would get a big saving. Try the drop a brand challenge, compare different supermarkets including the low cost supermarkets such as aldi & Lidl. Get meal plan ideas from the old style board (the other friendly board)

I think you should be able to reduce by at least the £99 you are showing as short. Does your 18yo still study? Does she have a part time job to fund her own expenses (clothes, pubs etc)?

Good luck

TMoose

Groceries - very high.
80pm on presents can be cut - be clever, and only buy for close family.

You also state that your daughter is 18... is there anything that she can do to bring some money in, help with the bills. Even if it's only £20pw, that's another grand a year that you can put towards your debt.

Edit : Of course Tixy said all that whilst I was typing

bunny999

Could you get rid of the car ?