<3FallenxAngel<3 [[A Fresh Start]]

<3FallenxAngel<3

Hey, well I am Tobii-Rhea and I'm an alc........oh no, wrong site :rotfl:

Well anyways, I have had some mini LBMoments but I think today is the definate one.

So anyway, I am 27 with 5 kids, 3 at home, a Fiance (who doesnt live with me but we still deal with things as if we live together. We both have debts that I am paying atm until he finds work), 2 cats and 1 staffy pup.

We live in Coventry and have 2 different lots of debt...well thats how i look at it anyways.

Basically i have some Housing Benefit, Tax Credits, Income support overpayments that total probably 12k at a guess, these are being paid weekly interest free out of my benefits so i dont have to worry about them as such.

The others are an Argos debt of about £420 repaid at £50 a month.

We have our TV, Bed and Dryer from Buy As You View (stupidly..no other option at the time) and owe them £2500.

Then theres my catalogue which again is ongoing with a balance of £1500

Gas debt of around 1k now, I did have a plan where if i paid £66 a month they would wipe the debt before my partner and i split (temp) but since that and me going onto Income Support i havent been able to pay it so they have taken me off it and i have been (embarrasingly ) ignoring letters recently.

Child maintenance about £400

Nationwide about £260 although the original debt was about £6 the rest are charges.

Then theres Vanquis credit card (partners) about £700,

Evans card (partners) about £700 and

old Barclays debt (partners...they havent been in touch in months) about £600 i think.

I have tried to fill in an SOA although its not exact.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 1434.33
Other income............................ 0
Total monthly income.................... 1434.33

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 166
Rent.................................... 568.75
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 80 (on meter, sometimes more)
Gas..................................... 0(have debt, havent been paying :S)
Oil..................................... 0
Water rates............................. 0 (coming out of Income Support)
Telephone (land line)................... 40 (inc TV and net, have cut pkage dwn)
Mobile phone............................ 75 (mobile and mobile BB. BB will be stopped when runs out n mobile pk lowered)
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200 (covers food, wasing, bathroom, pet foods, nappies, wipes etc and isnt enough at all and I buy value everything and save clubcard points)
Clothing................................ 0 (never enough)
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 (renting)
Contents insurance...................... 0 (cant afford)
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 (has to come out of food money)
Haircuts................................ 0 (cant afford)
Entertainment........................... 80(fags for both, dont go out or drink)
Holiday................................. 0 (cant afford)
Emergency fund.......................... 0 (cant afford)
Total monthly expenses.................. 1221.75


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
Hire Purchase (HP) debt ...... 2500.....(100)......0<
hire purchase..................2500.....(66).......0
Total secured & HP debts...... 5000......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
argos..........................420.......50........0
vanquis........................700.......60........0
fashion world..................1500......75........0
evans..........................700.......0.........0
barclays.......................600.......0.........0
npower.........................1000......0.........0
nationwide.....................260.......0.........0
child maintenence..............400.......10........0
Total unsecured debts..........5580......195.......-


Monthly Budget Summary
Total monthly income.................... 1,434.33
Expenses (including HP & secured debts). 1,221.75
Available for debt repayments........... 212.58
Monthly UNsecured debt repayments....... 195
Amount left after debt repayments....... 17.58

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -5,000
Total Unsecured debt.................... -5,580
Net Assets.............................. -10,580

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

If anyone can give me any tips on ways to overpay debts etc please let me know. I have amended this from an old thread as things had slightly changed and noone had commented hence the possible old date x

<3FallenxAngel<3

OK so this used to be a thread I started in December 09 but as there were no comments I thought I should just edit the SOA instead of starting a new thread. All ideas welcomed for how to overpay debts, better budget my finances

debtbegone

Hello!

If you post your soa up on the main dfw board it won't get lost amongst the diaries and there'll be lots of advice and help

I'm no use at advising on soa's myself, just wanted to bump your thread

Mags30

<3FallenxAngel<3 wrote: »

OK so this used to be a thread I started in December 09 but as there were no comments

The diary forum isn't the easiest place to get comments because there are a massive amount of diaries and it's just impossible to keep up. Lots of people write diaries just as a record for themselves.

I agree with debtbegone the main board is more useful for advice.

Good luck:)

<3FallenxAngel<3

Ah ok brilliant thankyou very much x

Jacey53

Hi

I don't know about the SOA, but have you tried getting a bed and other equipment from your local freecycle/freegle group - they will be yours and it will be something less to find the money for?

<3FallenxAngel<3

Thanks for the comment. I dont drive so cannot collect anything from Freegle, although I put alot on there for others

The problem with the HP (Buy As You View) is even if you hand stuff back you still have to pay for the rest of the term so its not worth it. Plus the tumble dryer doesnt work anymore and the bed is dying, so its not worth anything to them.

x

HamsterWheel_3

Hiya hope your ok and keeping strong about everything,


Are the debts that you arent paying gaining interest at all or your receiving charges? If so pull that head out of the sand and get in touch with them, only reason i say this is that i thought " ignore them they will go away" but they dont and when i did bite the bullet i had so many charges on them my debts were tripled on some things. Just write them a letter if you cant face talking to them on the phone, they should send you a letter asking for a finance rundown and then offer them a payment, you will be seen to be doing the right thing, also ask for things to be frozen etc.

I cut down on everything i could do but like you i smoke we dont go out we dont drink but trust fags to be the expensive enjoyment we have!

If your on benefits should you really still be paying £400 a month child maintenance??? Someone i know is on and only pays £5 a week so maybe look into this...( if i have read it right)

Do you download all the vouchers and get samples from this site on the freebies board? Ive saved a nice sum using those lately

Also have a look at the pad thread, its payments a day where you can send anything from 1p to any of your debts or to more than one and you dont notice it as much out of your account than if you did it in one lump sum


Sorry if i have rambled im sure others will be along to help too xxxx

<3FallenxAngel<3

HamsterWheel wrote: »

Hiya hope your ok and keeping strong about everything,


Are the debts that you arent paying gaining interest at all or your receiving charges? If so pull that head out of the sand and get in touch with them, only reason i say this is that i thought " ignore them they will go away" but they dont and when i did bite the bullet i had so many charges on them my debts were tripled on some things. Just write them a letter if you cant face talking to them on the phone, they should send you a letter asking for a finance rundown and then offer them a payment, you will be seen to be doing the right thing, also ask for things to be frozen etc.

I cut down on everything i could do but like you i smoke we dont go out we dont drink but trust fags to be the expensive enjoyment we have!

If your on benefits should you really still be paying £400 a month child maintenance??? Someone i know is on and only pays £5 a week so maybe look into this...( if i have read it right)

Do you download all the vouchers and get samples from this site on the freebies board? Ive saved a nice sum using those lately

Also have a look at the pad thread, its payments a day where you can send anything from 1p to any of your debts or to more than one and you dont notice it as much out of your account than if you did it in one lump sum


Sorry if i have rambled im sure others will be along to help too xxxx

Hey no probs, glad for the messages. I have no idea what interest etc the other debts are gaining however the amounts have been the same on all the letters for months.

Im not paying £400 a month Child maintenance. I am paying a set amount weekly out of my Income Support but I have a £400 debt of backdated maintenance that i need to repay that at the time I thought was coming out of my benefit.

I get some freebies mainly just sticking to washing powder and pet food.

Iv looked at the PAD thread too, I just thought i might get grief for sending a few pence etc to debts lol and I dont have a spare savings account to send it to in the mean time.

Thanks for your comments x

HamsterWheel_3

They would rather you send a few pence than nothing at all so dont worry about it some people will put say 14 in a tin and some will bank transfer it i do it and its great to get a monthly statement and see how much i have actually sent and yet not missed it, i generally just round my bank account down to the nearest pound,

Today i did so much paperwork i felt like a human calculator but its spurred me on to have some good days while im job hunting i got everything out and found out the interest on stuff and wrote lots of letters, you may want to do the same and see if any of these debts are getting bigger see if they can work out a payment plan but while you are on benefits you will have some rights so dont let them talk you out of it, before this site existed i got some help from the CAB so dont be scared to ask them they will help you with letters etc


Also can i ask,, it says you had some overpayments one of them including housing benefit, ive just had this happen to me and im crapping myself, took everything in so its in their hands now but how did they deal with it with you pls?

xx

<3FallenxAngel<3

They just sent me a letter saying they were gona deduct £x from my housing benefit x