Help!!! My SOA - dire!!!!

BlueJeans_2

laura2481 wrote: »

I've left a few ideas in red. Hope something might help

Thanks

Mortgage is repayment. Will phone the mortgage company tomorrow to see if we can go to interest only for a few months.

The Council tax is our rates (we reside in NI) and this is for a 12 month period.

Telephone land line is with BT and includes internet/broadband.

Mobiles - I inputted that wrong (sorry) its actually £20 for two.

Food Bill - I based this on the fact that it is around £80 per week and that includes the odd takeaway, dvd etc so really includes enteraintment as well.

Petrol - we have started cutting back - DH can't due to work but I don't do any unneccessary trips now so this figure may be reduced slighty.

Pet Ins - this was the cheapest quote I could get as there is an exisiting medical condition. She is quite old as well.

Life Ins - I will take at a few comparsion sites and see if I can get this cheaper.

Emergency Fund - I'm sort of relying on my mum for that:o.

Larua thanks for all your help.

With regards to the car we really couldn't live without two. I am thinking of selling mine and buying something older and smaller (this will reduce tax petrol etc) and this will give us a few thousand to pay towards the debt.

talana

Partners monthly income after tax....... 0

As well as the suggestions already given, I'd say with the scale of your current debt you need to consider getting a second income in the family.
Even if it's just part-time or whatever, with all your kids of school age it becomes possible.

BlueJeans_2

talana wrote: »

As well as the suggestions already given, I'd say with the scale of your current debt you need to consider getting a second income in the family.
Even if it's just part-time or whatever, with all your kids of school age it becomes possible.

I worked until last year from home but was made redundant we then agreed rather than putting my youngest into day care I would become a stay at home mum until he started school.

He is only starting pre school in Septmeber and will only be in for 1 hour aday until Halloween. He then is in for 2 1/2 hours and I will start to look for a part-time job. I do ebay quite a bit but am running out of things to sell. I also do surveys and a bit of mystery shopping.

Nargleblast

Some other suggestions - keep a notebook to write down all your daily spending (bar of chocolate here, newspaper there - it all adds up). You will then be able to look at it and think whether any of it was worth buying, and it will make you start thinking twice before spending anything. You think - do I need this? If so, can I get it cheaper?

If you have discount supermarkets down your way (Aldi, Lidl) then give them a look in. try buying meat and fruit and veg from local shops or markets, often can be cheaper and better quality than in major supermarkets. if you have a garden try growing something edible - tomatoes, salad leaves, beetroot, carrots etc.

If you have already touched base with CCCS then well done, they are a non-fee charging organisation and will give you good advice and support.

BlueJeans_2

Just a quick question!

I am currently thinking of using the template that CCCS sent me to send to my creditors and was just wondering if I need to send this to all my creditors?

For example: I owe approx. £200 pounds each to a few companies and would be able clear this within 2 months or so (if the other creditors accept a lower payment) if I didn't include them in my DMP.

Am I allowed to do this or do I have to include all creditors in my DMP?

Thanks in advance for any advice.

Fire_Fox

I believe you are supposed to treat all creditors equally, which means pro rata payments depending on how much you owe to each. As soon as one debt is paid off or your wages increase CCCS adjusts the entire DMP so that the available money is redistributed and your debt-free date is brought forwards. If your creditors find out you haven't been equal they may refuse to stop adding interest and charges.