Help Me please - SOA attached - advise req'd

desperate+determined

Hi

On an IVA with 2 years togo, but needing help as that deep never ending black hole is rearing its ugly head. I'm not living any more just holding on with a very thin thread waiting for someone to cut it and let me drop.

Don't know where else to turn. I've cut back so much but the over spend is creating more debt as each month having to pay nearly £200 in over drawn bank fees.

Help me please,

desperate single parent :-(

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1195.37
Partners monthly income after tax....... 0
Benefits................................ 608.12
Other income............................ 0
Total monthly income.................... 1803.49
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 205
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 86.83
Electricity............................. 30
Gas..................................... 0
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 50.5
Mobile phone............................ 37
TV Licence.............................. 11.95
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 180
Clothing................................ 20
Petrol/diesel........................... 140
Road tax................................ 10.33
Car Insurance........................... 27.5
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 600
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 7.6
Life assurance ......................... 0
Other insurance......................... 11.99
Presents (birthday, christmas etc)...... 20
Haircuts................................ 7.5
Entertainment........................... 3.99
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1975.19

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0<
IVA Repay......................0........(205)......0
Total secured & HP debts...... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1,803.49
Expenses (including HP & secured debts). 1,975.19
Available for debt repayments........... -171.7
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -171.7
Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 1,500

grahamlaw

Your food bills not far off mine and people have said that's too much. Do you really need the car? Would public transport work out cheaper?

desperate+determined

grahamlaw wrote: »

Your food bills not far off mine and people have said that's too much. Do you really need the car? Would public transport work out cheaper?

Unfortunately yes I need the car as I live in the sticks and no public transport, my job is 30 miles from my home (1 way)

Nicki_Sue

Hi there.
Welcome to MSE.
Very brave of you to face the reality that things are slipping and putting up a SOA - MSE is full of fab people who will give you advise and direction and many of them are where you are now or have been.
I'm runing off no but there will be more people along soonish who will help you break down your SOA.

Good luck and keep posting!

SPARK123

Rent - if you're renting from a private l/l see if you're rent can be reduced by signing a longer lease , say 12 months as opposed to 6.
Phones - landline and mobile seem expensive .Look for an all incl deal
Nursery- does your work offer you childcare vouchers which can be offset against tax

Bob_the_Saver

Am I getting this wrong or is that £87.50 per month for phones? In your situation that is mad. Unless you're out of mobile coverage at home use PAYG and ditch the land line then don't use the mobile. Keep it charged for an emergency.

hettiecarro

Hi

Sorry to hear of your situation, but you've done the right thing by coming on here.

I agree with Bob about the phone. Have you looked at any of the new mobile packages? from about £8.00 a month you get so many calls and so many texts free.
Who is your phoneline with? £50 without satellite etc is extortionate.
Don't know how old child is but £20 a month on clothes seems a little high in your current situation - have you tried ebay or even charity shops?
The same goes for birthday presents etc - there are some good bargains to be had.
Could you perhaps share a car with someone else for work - share the fuel costs at least?

You may have already thought of all these things.

Is there anything you can do about re-negotiating your IVA? I don't know much about them so can't advise.

£600 is a lot for childcare - like one of the previous posters suggested have you looked at vouchers through work?

This is real novice advice I'm giving, but you'll soon get the expert 'hardnuts' giving you lots of advice.

Stick with it. You may think you are on a thin thread - but you're not. REMEMBER - spiders hang by threads all the time - AND ALWAYS MANAGE TO CLIMB BACK UP.

Keep posting - I'll be watching!!!!!!!!!

fatbelly

Why are you on an IVA when you are in rented accommodation? What were you trying to protect? How much debt did you have?

desperate+determined

spent last hr reply now lost post, here goes again. :mad:

Rent: - I rent privately have done for nearly 4 years since spliting from childs father. Its the cheapest rent in my area that is close to work and nursery.
Rent while on an IVA - not sure what meant by question, but councils won't help me with housing so had to go in to private accom. Councils in North Yorkshire are tight!

Clothes / Hair / birthday presents, very rarely do i spend any money in this category i put this on my SOA as I had to put a provision in for them on my IVA so thought i should on here. I use freecycle to get clothes for my litte one as for me i make do. Even started making my own cards so don't need to buy them.

Phones: Where i live (very remote) mobile phones don't work (no signal / masts) Mobile is on a contract and to get out need to pay large amount of money (don't have any - can't do)
Landline - with BT they say min payment by DD has to be 50.50, tried other providers but they say as on an IVA no, can maybe do a PAy as you go Landline but then can't have Broadband. (need that)

Work: - Have been looking for several months to find work closer to home and nursery. But do to current climate (unemployed rate so high) no work near where i live hence having to travel. I could get a job but i'd need to take a 5-6k pay cut and certainly can't afford to do that!

Childcare - only nursery in my area, high costs as child there 8 - 6 5days a week. (needs to be that long as i have long travel to work) This cost will reduce in september as my little one starts school. Before and afterschool care can't be any where near as bad.
Childcare vouchers, work don't do say its to expensive, time consuming to set up and manage.

I'm barely hit mid twenties and I hate my life, I hate everything about it. Being in debt, I hate my x partner for leaving me in this debt and not even paying a penny of maintence. I hate not being able to go out a for a couple down the pub with friends, however there no longer my friends they gave up asking as they said i was boring, for not joining in. They didn't understand, £3 per drink, 3 hours out - totally maybe £15 then trael costs and baby sitter costs! Now i have very few friends. My life is worthless... i could understand if i had something to show for my debt - i have nothing. I hate having to scrimp and save, begger and borrow just to survive another week.

At 22 my debt was 17k, cards were maxed out, loans, 20 -30 calls a day numerous letters, i couldn't bear it any more. I was very close to an evil place and i never want to reach there again. if it was for the IVA i wouldn't be hear today, sometime i hate the IVA for doing this but then it's better than the alternative.

I just want to be happy and enjoy my child, i can't at the moment . I love him so much but regret him teribly. Due to financial implications.

Help me becuse now i feel like the spider being washed down the plug holed! :-(

sorry for complaining :-(

hettiecarro

Hey you!
Not sure if I'm allowed to ask this - but are you male or female?

(slap my wrists everyone if that's not allowed).

desperate+determined

hettiecarro wrote: »

Hey you!
Not sure if I'm allowed to ask this - but are you male or female?

(slap my wrists everyone if that's not allowed).

Doe's this make a difference? female