I've messed up big time

zulubabe

Can anyone please advise what I should do in the mean time as regards my bank account - as I'm going to be going over my overdraft again and incurring more charges. Do I leave it as such or try negotiating with the credit card companies?

heatherykins

Would there be any benefit in asking your ex if you can pay him back a lesser amount as he doesn't have late fees, penalties and interest?

Also, is there anything you can get rid of? Ebay, freeads, car boot sales might get you some fast cash?

Any chance of a wee part time job? bar work, care work, etc?

nikki2804

zulubabe wrote: »

Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 1062
Partners monthly income after tax....... 0
Benefits................................ 0 have you checked you arent entitled to any benefits?
Other income............................ 0
Total monthly income.................... 1062

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 375
Management charge (leasehold property).. 0
Council tax............................. 85
Electricity............................. 25
Gas..................................... 25
Oil..................................... 0
Water rates............................. 26.83
Telephone (land line)................... 20
Mobile phone............................ 30
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 12.5
Groceries etc. ......................... 100 - check out the OS board, I can feed a family of 3 for approx £150 (inc baby milk)
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 32
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 12 would it be cheaper to get a prepaid prescription? my dad pays £35 p/a i think
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 Erm you NEED this. What happens if you have an emergency and all your stuff is ruined? Your not in a place to replace it.
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 15
Entertainment........................... 20 ditch this or cut it down, plent of free activities
Holiday................................. 0
Emergency fund.......................... 0 Again this is NEEDED!!
Total monthly expenses.................. 820.45


Assets
Cash.................................... 70
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 70

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
HSBC...........................2993.16...75........21.9
MINT...........................1600......36........15
HSBC DEBIT CARD................975.95....0.........19.9
EX PARTNER.....................100.......50........0
Total unsecured debts..........5669.11...161.......-


Monthly Budget Summary
Total monthly income.................... 1,062
Expenses (including HP & secured debts). 820.45
Available for debt repayments........... 241.55
Monthly UNsecured debt repayments....... 161
Amount left after debt repayments....... 80.55

Personal Balance Sheet Summary
Total assets (things you own)........... 70
Total HP & Secured debt................. -0
Total Unsecured debt.................... -5,669.11
Net Assets.............................. -5,599.11

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.
I have a £25.00 overdraft charge to come out in March as well.

I havent included food - to be honest this probably comes in at £25.00 a week if that.

Please help!

I've put a few notes.
You could plead hardship to HSBC and see where that gets you? Do you normally exceed your limit or is this a one off? If it a one off they may waive it.
HTH

miss_missy

hi
well done for asking for help the main thing you need to do is not go back over your overdraft limit however for this to happen you probably need to spend no more than about 700 this month and thats going to be difficult

what is the payment to your ex for? could he wait a couple of months for these last 2 payments or could you as family to help out here

you need to try and go with out hair and beauty for a few months and then try and reduce

and the gym should go

do you need a bus pass can you walk instead

now credit cards whats your credit limits i would be inclined to move as much across to the mint card as possible as its lower apr its unlikely you will get accepted for another credit card at a good rate, do you have any credit cards with nothing on

i know this may sound not great but is there any chance of moving in with your parents for a little while as this would free up a big chunk of money and allow you to get back on your feet?

a better soa would allow people to help you more the one on the make sense of cards site is best i think

also agree with op find out if your entitled to any benefits such as tax credits etc

miss_missy

well done on the new soa my comp wasnt showing it before i will have a quick read now

Cleosmum

I had a whole year with HSBC where I got charge upon charge upon charge and it was just a nasty mess. HSBC are great....until you encounter problems, then they are rubbish. The best advice they could give me was to take out their extortionate managed loan to cover a CC debt with them, which I did. It didnt really help the DD situation though, and that I just had to grit my teeth, cancel my DD's and wait for the phone to start ringing lol. Things were tight for a few months but I did it and have been charge free for the last 3 years.

Can you open another account away from your current one and transfer everything over to that, so you can start off afresh? Whatever is left each month you can transfer over to the old account to pay off the OD, although may be an idea to let them know so that they dont all of a sudden close it and ask for it all up front.