Feeling scared

Brassic

Hi again. Water bill is slightly in arrears, we moved in April, and I didn't sort it out til this month. They sent a letter with the amount (70 quid) which I thought I could pay as a one off, when I called it turns out it's nearer to 70 quid a month

The Phone bill amount actually is probably too high, I have 1899 and 1866 now, so it's probably nearer 20 now.

Car insurance is high because I was diagnosed with Narcolepsy a few years back.

Other insurances are to do with mortgage, and one pet insurance for a horse I have loaned out.

Overdrafts, 500 quid isn't 0%.

The charity is for cancer as my dad died of a brain tumour a few years back. Would love not to have to stop paying that

vyvyan_2

Hi and welcome! I love your user name too.

The AA breakdown cover is expensive and it sounds like exactly the same one I had but I couldn't cancel until renewal date. Is it due soon? I've gone with Tescos (greenflag) this time same cover but half the price.

all_hours

Brassic wrote:

Hi again. Water bill is slightly in arrears, we moved in April, and I didn't sort it out til this month. They sent a letter with the amount (70 quid) which I thought I could pay as a one off, when I called it turns out it's nearer to 70 quid a month

The Phone bill amount actually is probably too high, I have 1899 and 1866 now, so it's probably nearer 20 now.

Car insurance is high because I was diagnosed with Narcolepsy a few years back.

The charity is for cancer as my dad died of a brain tumour a few years back. Would love not to have to stop paying that

For all the arrears (council tax, water etc. ) could you contact them and ask them to bring the arrears payment down by £5 per month each?

Your situation is looking positive - without making any more changes you're almost at break even level but with nothing left over for clothes, car and presents.

Brassic

Floss wrote:

You may not need to buy a Freeview box - ring Sky back & ask them to convert you onto freeview only........they can do it, honest! then you've saved that dosh too!

Hi there,
I just phoned Sky and they denied all knowledge. Said I could cancel and I'd still be able to get sky news and cartoon network, but that would be it.
Cheers,
Brassic.

Brassic

all_hours wrote:

For all the arrears (council tax, water etc. ) could you contact them and ask them to bring the arrears payment down by £5 per month each?

Your situation is looking positive - without making any more changes you're almost at break even level but with nothing left over for clothes, car and presents.

Hi there,

Council tax definitely won't go down any more, they wanted 100 a month first off, but I've wrangled it down to 80. Water is really this years bill, but making up for the two months I missed so I can't go down on that. I'll definitely give Powergen a go though. Cheers.

I love your definition of positive, it still seems quite bleak to me, but I guess it's improving which *is* positive.

I'm intruiged as to this consultation with the debt charity - don't quite see how they can help....

Thanks again all,
Brassic.

all_hours

Brassic wrote:

Hi there,

Council tax definitely won't go down any more, they wanted 100 a month first off, but I've wrangled it down to 80. Water is really this years bill, but making up for the two months I missed so I can't go down on that. I'll definitely give Powergen a go though. Cheers.

I love your definition of positive, it still seems quite bleak to me, but I guess it's improving which *is* positive.

I'm intruiged as to this consultation with the debt charity - don't quite see how they can help....

Thanks again all,
Brassic.

Hi,

I said positive because you haven't got a deficit of £200 or £300 a month and nowhere to cut back. It's quite a small deficit so if you can shave £5 of here and there and cut back a little on the shopping bill you can balance the books.

The debt charity would start off with doing what you've just done here - go through your outgoings, debts and income and if you didn't have enough left over to make the minimum payments they can discuss options with you. Either a debt management plan where they contact your creditors and ask them to freeze interest and reduce the monthly payments or an IVA. My initial thought is that you don't need to do this as you can get the figures to balance without having an adverse effect on your credit status but still contact them and see what they say.

If the years water bill has been spread over 8 months then you could pay one months bill and then ask them to reschedule the remainer over a further 8 months. With my water company they can only set it for up to 8 monthly payments, I don't know if this is the same with yours.

Have you checked you're getting all child benefit and child tax credit that you're entitled to -
https://www.entitledto.co.uk

Take a look at the snowball calculator and this will give the order to pay off the debts and a debt free date. Try putting the repayment amount at £50 more than the minimum and you'll see the debt free date leap forward and the amount of interest you end up paying go down.

http://www.whatsthecost.com/snowball.aspx

It's very motivational you can see there is a time when things get much better. After you reach that date you'll be in a position to save £800 per month or overpay on your mortgage.

delboypass

Other insurances are to do with mortgage, and one pet insurance for a horse I have loaned out.

Do you own a horse and are loaning it out to someone else???
If you do, why dont you sell it and recoup money to pay off debts.

If it is you who is renting a horse, i have no sympathy for you as i know the running costs of said beasts

Brassic

delboypass wrote:

Do you own a horse and are loaning it out to someone else???
If you do, why dont you sell it and recoup money to pay off debts.

If it is you who is renting a horse, i have no sympathy for you as i know the running costs of said beasts

I own said horse, and loan it out to someone else (hence the lack of horse stabling costs etc in my soa) as a companion to theirs. Can't sell him as he's knackered, he is there until he no longer has any quality of life, at which point he will be put to sleep.

Brassic.

Rachman_2

Do you mind me asking, what did you spend the money on ? Your aggregate income is near enough £50K gross, yet you have run up huge unsecured debts - getting the debt mountain down now is not going to be a help long term unless you also change the spending habits (especially when the 0% overdrafts stop).

I also get the impression you just assumed it would take care of itself, which unfortunately has not been the case. Unless you actively manage money, most of us would struggle.

Rachman_2

Do you mind me asking, what did you spend the money on ? Your aggregate income is near enough £50K gross, yet you have run up huge unsecured debts - getting the debt mountain down now is not going to be a help long term unless you also change the spending habits (especially when the 0% overdrafts stop).

I also get the impression you just assumed it would take care of itself, which unfortunately has not been the case. Unless you actively manage money, most of us would struggle.