Financial do do - help required

slicsav

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[Deleted User]

a soa would help us to help you

Poosmate

Please use this link to post your Statement of Affairs and there will be loads of people clambering to offer help and support.

http://www.makesenseofcards.com/soacalc.html

It's just more difficult to offer anything constructive without knowing the full picture.

Hope that helps.

Poo

Tixy

Hi

As others have said we really need to see a full SoA. You also need to be offering pro-rata payments to your creditors not the same amount to each, so if you have debts of £40k and can afford £400 per month you should offer £1 to each creditor for every £100 you owe. That way you are treating them fairly.

If the creditor offer is to take out a new agreement then don't, if its without signing a new agreement then this may be about the right level, but without seeing the SoA is difficult to know.

Your overdraft should be treated the same (equally) to all your other unsecured creditors.

Welcome on board though

Happytogetdebtfree

Hello slicsav welcome to the boards, yes an soa would be great people can offer some advice and things all the best on your journy to dfw freedom x

Tixy

Great thanks
It is you and 2 children this is for?

slicsav wrote: »

Here goes.....

Mortgage 707.00 repayment or interest only? balance? APR? house value?
Gas 67.00 have you shopped to check you are with the cheapest supplier/best tariff for gas & elec? have you tried to reduce usage?
Elec 43.00
Council tax 94.00 do you claim the 25% single person discount?
Life ins 23.28
House ins 11.00
Tv Lisc 12.12
Water rates 38.77 metered or unmeasured?
Mobile 15.00
Landline/broadband 30.00
Tot - 1041.00

Food - 250.00 pm (could prob' axe this a bit) if for 3 of you perhaps aim for £200 to start then a little less eventually, meal plan before you shop etc
Bus/school dinners - 140.00pm (unable to reduce this) could they take packed lunches to reduce? would you be entitled to free school lunches maybe?
Petrol 60-80 (may be lower)
car tax?
car insurance?
car maintenance, servicing, Mot?
Other exps 250.00 (ie. pocket money, clothing, school trips, social life) need to breakdown into each item and try to reduce where you can.
Current Total £1751

Income
Salary 1477.00
Working families 354.00
Child benefit 132.00
Child maint' 00.00 (on the case but not holding much hope) good luck!
Total 1963

Unsecured loans
Sains 227.00 pm (10K) APRs for all please?
Mint 70.00 pm (3200)
Barclaycard 100.00 pm (4500)
Next 350.00 (36pm)
Virgin 25.00 on offter til March 2010 (9500)- they've offered me £96pm/10yrs to clear
Capital One 300.00 (9124)
Overdraft 3500.00

So how much have you offered to them all? 7 creditors £15 each? £105 in total?

The best way to get creditors to accept your proposal is to send them all a pro rata amount and to include a detailed income & expenditure account so they can see you are not spending on luxuries.

Hope these suggestions help a bit.
Good luck

slummymummyof3

Cut your £100 clothing budget as you won't need this every month - granted, yes when they need shoes and trainers I agree.

If you have had your life insurance for some time, it is likely that you may be able to get this cheaper as the prices have come down considerably over the last few years.

Check out to see if you can get subsidised school transport and free school dinners

Can you do your council tax over 12 months instead of 10?

Use the cash back sites when you come to change gas/electric, insurances, phone line etc

Where do you shop? Have you tried Aldi/Lidl?

saxysarah

it prob be impossible and not fit in with work etc but would it be cheaper to take kids to school ie:less than £30pw cheaper in petrol? maybe organise a lift share with someone else locally in the same boat?

APRs normally shown on ur satement as monthly i'm not sure if Xby 12 is what gives u the yearly figure some1 else here prob give u better pointers