Help and advice required

susanjbr

Hi, I have a dillemna and not quite sure where to start in dealing with it.

I've been sharing a flat with my boyfriend for the last six months and splitting the bills 50/50 but we have just split up and he is moving out.

I've just used the budget calculator on here and been horrified by the fact that my outgoings for the flat, bills, personal loan, credit card bills mount up to £1100 per month and my actual income is only £1025 per month.

I know I will have to move to somewhere smaller and cheaper but I will have to give two months notice on my flat - which at this moment in time I cannot afford to do let alone pay a deposit on somewhere new as I was foolish enough to lend said boyfriend £1000 of savings which I doubt I will see again. I have no deposit to come back from the flat I am in as the letting agent had a promotion running when we moved in which was no deposit but the rent was £25 a month higher.

Billwise, I know I can get a reduction on the council tax for being on my own. The tv, broadband and phone were all in his name so have been cancelled. I switched to a water meter a couple of months ago, and gas and electric are already on the cheapest fixed rate available.
I have a loan with the alliance and leicester which is £163 per month which I still have 24 months to pay - just noticed I have PPI on that at £31 per month so will cancel that if I can.
The minimum payments on my two MBNA credit cards total £180 per month and I am pretty much at my limit on both cards.

If I get in touch with the companies and tell them the situation is it the norm that they will reduce the monthly payments?? Or am I looking at bankruptcy??
Any advice would be very welcome as I'm just a bit dazed by everything at the minute and not sure where to start first.

Thanks,
Susan

MrsTinks

Whoa deep breath and relax - go make a cup of tea and come back.
Your creditors are not going to make you bankrupt just because you can't make your payments
First the best thing to do is fill in an SOA - handy tool here: http://www.makesenseofcards.com/soacalc.html
Post that up on here and let's have a look and see if we can help you make things balance in the short term.
The loan to the ex - well sadly that's probably going to be harder to get back - I would start by sending him an e-mail asking him when he will be able to pay you this back as obviously you will need it for a deposit for where-ever you move after you leave this flat. Make sure you mention that it was a loan and that he agreed to pay it back. It may be nothing but you could then try and go through small claims to pursue him for it (can't remember the cost - no doubt someone else will be kind enough to remind me ) and if you have a mail from him confirming that it was a loan or even saying whistle for it but not denying that it was a loan might help - it might not but hey - £1000 is £1000 right?
So - don't panic - do the SOA and the friendly guys and gals from here will be able to help you

wherediditallgothen

The debts will have to wait. Food, rent and current bills are more important. Other than that I'm no expert. YOU are the priority not your creditors.

Dinah93

Contact your local university, see if there are any students who need a room over Christmas, a short term lodger could plug the gap until you move.

susanjbr

Thanks for that Mrstine and Where. Have entered everything I can think of below.

Dinah, great idea but I only have one bedroom.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1027.25
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1027.25
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 163.1
Rent.................................... 525
Management charge (leasehold property).. 0
Council tax............................. 125
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0
Mobile phone............................ 10
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 80
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1028.1

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

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 3000.....(163.1)....11.9
Total secured & HP debts...... 3000......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Credit card....................4500......86........0
Credit card....................3000......101.......18.9
Total unsecured debts..........7500......187.......-

Monthly Budget Summary
Total monthly income.................... 1,027.25
Expenses (including HP & secured debts). 1,028.1
Available for debt repayments........... -0.85
Monthly UNsecured debt repayments....... 187
Amount short for making debt repayments. -187.85
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -3,000
Total Unsecured debt.................... -7,500
Net Assets.............................. -10,500
Created using the SOA calculator at ...
Reproduced on Moneysavingexpert with permission, using IE browser.

RAS

Susan

Worth seeing if you can get anythingout of the BF.

With respect to the PPI, you can probably ot only stop it but reclaim all the payments made so far. Go to the reclaim forum here for help.

What is there round the flat that you can sell (or perhaps still at your folks in the loft?). E-bay, amazon or free ads.

Also head over to the Moneysaving Old style forum and learn about store cupboard challenges.

It would be worth reading the gas and leccie meters and checking where you are with respect to bills against the DDs you have already paid out.

And when you write to the council re single person's allowance, make sure you add that you are leaving on x date, as if you have paid 90% of the full year's CT already, you may not need to pay anymore.

MrsTinks

Another point - is your Ex on the tenancy agreement? If he is then technically he's jointly responcible for the 2 months notice for the rent so should still be paying 50% towards the cost. Yes it's a bit unfair but I guess it depends on if he left you, you threw him out, etc etc etc if you feel that it would be right to pursue him for his half of the costs...

RAS

susanjbr wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1027.25
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1027.25
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 163.1
Rent.................................... 525
Management charge (leasehold property).. 0
Council tax............................. 125 - is this after single person allowance?
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0
Mobile phone............................ 10
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 80
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1028.1

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

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 3000.....(163.1)....11.9
Total secured & HP debts...... 3000......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Credit card....................4500......86........0
Credit card....................3000......101.......18.9
Total unsecured debts..........7500......187.......-

Monthly Budget Summary
Total monthly income.................... 1,027.25
Expenses (including HP & secured debts). 1,028.1
Available for debt repayments........... -0.85
Monthly UNsecured debt repayments....... 187
Amount short for making debt repayments. -187.85
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -3,000
Total Unsecured debt.................... -7,500
Net Assets.............................. -10,500
Created using the SOA calculator at ...
Reproduced on Moneysavingexpert with permission, using IE browser.

Hi what is that loan secured on?

milliemonster

How come you have no travel costs at all?

Also, no TV licence?
No contents insurance?

you need to factor these costs into your SOA so your SOA reflects your realistic income/outgoings rather than you trying to get your outgoings to fit your income iyswim?

If at the moment you are going to be reducing your payments to your creditors, then you need to ensure you give yourself enough leeway within your budget to allow for a few extras/emergencies etc that will crop up

susanjbr

milliemonster wrote: »

How come you have no travel costs at all?

Also, no TV licence?
No contents insurance?

you need to factor these costs into your SOA so your SOA reflects your realistic income/outgoings rather than you trying to get your outgoings to fit your income iyswim?

If at the moment you are going to be reducing your payments to your creditors, then you need to ensure you give yourself enough leeway within your budget to allow for a few extras/emergencies etc that will crop up

No travel costs as the company I work for pays for that. No tv licence as that was in my partners name and as he's taken the tv with him I have no need for one and no contents insurance as we just hadn't got round to it yet.
Susan

susanjbr

MrsTine wrote: »

Another point - is your Ex on the tenancy agreement? If he is then technically he's jointly responcible for the 2 months notice for the rent so should still be paying 50% towards the cost. Yes it's a bit unfair but I guess it depends on if he left you, you threw him out, etc etc etc if you feel that it would be right to pursue him for his half of the costs...

He left me and at this moment in time I have no idea where he is staying.
Yes, he is on the tenancy agreement but think the chances of getting anything back are remote tbh