soa?

Lovestoshop!

Hi,

Where do I post an SOA?

Thanks

PaleScene

Lovestoshop! wrote:

Hi,

Where do I post an SOA?

Thanks

D'oh, hit thanks instead of quote...

On this board Lovestoshop! so you could use this thread, especially if you change the title to something like 'Lovestoshop!'s SOA' perhaps.
Then lay out all the gory details and people will post their thoughts and advice

Lovestoshop!

I have posted before, but my SOA has changed.

Thinking of going to Payplan.com, what do you think?

Slight change to my SOA though, here it is revised: ( basically my partner is paying his own debts off, so he is paying mortgage and his own loan, so the whole £25000 ish is all mine!

This is what get and what I pay out:


Monthly Incomings:

My salary - £1,232


Monthly Outgoings:

Water – £20.00
Food - £200
Council Tax - £107
Gas - £29.00
Electric - £25.00
TV Licence - £10.99
Life Ins – £11.27
House Ins – £20.23
TOTAL: £463

Sky £35.99 (looking at reducing...)
Phone - £25 (includes £10 Broadband,need internet for my college course)
Mobile - £22
Car Insurance - £27.06
Petrol - £80
Gas Care -£15.49

Total: £668.54



Natwest CC – Balance £4,357 (limit £4,400) APR 16.9%

Natwest Loan – Balance £9,000 (roughly) APR 7.4% Length of term 60 months, 48 months to go
Overdraft - £1200 (limit £1200) APR 17.69%
Capital One CC – Balance £4,758 (Limit £4,800) APR 15.9% (In arrears, 2 mths)
Halifax CC – Balance £1,930 (Limit £1,950) APR 15.9%
Virgin CC – Balance £4,900 (Limit £4,900) APR 15.9%
Next Catalogue – Balance £384.25 APR 26%
Additions Catalogue – Balance £550.77 APR 29.8%

I also have an interest free loan which is paid off in September, £92 per month.

TOTAL EACH MONTH ON CARDS ETC: £745.

GRAND TOTAL: £1413 Where I get the £181 from I have no idea!

So there you go,any suggestions? Do I negotiate with Creditors?
I a thinking of selling my car, which I would probably get £2000 for, so that would save me on petrol, MOT etc, which I haven't even listed for MOT and repairs, saying that I just had to get some work done on it costing me £75 last week!

I am really worried, my Mum has been helping giving me money each month, but she can't keep bailing me out. arrghhh! All my own stupid fault.

Annie_Fanny

Welcome back Lovetoshop! I see you are still paying for Sky - it's gotta go honey not be reduced...

fizzel81

welcome, we have gone to payplan and are now just waiting for all the forms so far i would recomend them, they will do a new soa with you to find out what you have spare for your creditors, i will find it interesting to see how much the one i put a few weeks up compares to the one they have done with us and hopefully the wonderfull nerds on here can help me reduce it more

Lovestoshop!

How long is it going to take you now to pay off your debts?
How does it effect your credit rating?

CLAPTON

are your figures just your contribution and your OH pays the same or are you paying for two i.e. is food at 200 for both or you or only your half..similarly gas, electric, house insurance?


if you can sell the car and save insurance, tax, mot servicing etc this will get you nearer to being able to meet your debt repayments...depends upon the value of the car and how much you will spend in public transport

if you cancel sky and gas care this will save an additional 50 per month


can you get a part time job? the shortfall in income and outgoings is not that large.

Lovestoshop!

I already have a second job, my income includes that.
My partner pays the mortgage, which is equal to what I pay. Everything i have listed is altogether.

Think I will cancel Gas Care, just thought that would save money in the long run if it goes wrong.

black-saturn

I would cut Sky down or out altogether. I would also try and give up my car and walk, cycle or use public transport. I gave up my car when I was in debt and I live in a town with poor public transport and I have 2 children. It helped me pay my debt off a lot quicker and since I've been out of debt I havn't bought another car. Once you get used to it you don't need one.

Also £200 seems a lot for one persons food considering I spend £42 per month on food for 3 people. Try to cut down by cooking meals from scratch and using lots of BOGOFS.

Could you also cut down on your mobile?

Lovestoshop!

My partner has a car, so we would manage. It's just your so used to your freedom when you have always had a car, but needs must.....

My mobile is cheaper than what it was, I get free minutes which means I don't use the home phone.

black-saturn

You say that but your home phone is £25. I'm with Wanadoo and BT which only costs £17 per month.