help me please!!!

regret70

Hello

I'm back again. I seem to be going round in circles all of the time and not getting anywhere. I posted a couple of months ago and addmitted to a gambling addiction that I had developed over the last year. on a positive note i seem to be doing really well with regards to this. My lovely husband has bought me a puppy which has taken up all of my time, I hardly go on the internet now, not even facebook! I have even loat a stone in weight in a month so am feeling more positive, however i am constantly worrying about money, i hardly sleep and whenever i hear a car door bang outside i convince myself the bayliffs have pulled up (would they just turn up like that??)

My only concern is that this month I need to find an extra £900 for debt repayments that i have missed. mainly £250 council tax £300 tesco loan (they have issued a default) and £250 (payday loan- i know what you are all thinking about that!) and a few other odd amounts

This is my new SOA. please can anybody offer me some advice. the SOA is for a normal month and not for the extra payments


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1835
Partners monthly income after tax....... 650
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2485
Monthly Expense Details
Mortgage................................ 820
Secured/HP loan repayments.............. 200
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 84
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 20
Mobile phone............................ 50
TV Licence.............................. 12
Satellite/Cable TV...................... 15
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 10
Car Insurance........................... 35
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 7
Buildings insurance..................... 30
Contents insurance...................... 0
Life assurance ......................... 10
Other insurance......................... 30
Presents (birthday, christmas etc)...... 10
Haircuts................................ 20
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1796

Assets
Cash.................................... 0
House value (Gross)..................... 100000
Shares and bonds........................ 0
Car(s).................................. 6600
Other assets............................ 0
Total Assets............................ 106600

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 89000....(820)......0
Hire Purchase (HP) debt ...... 4000.....(200)......0
Total secured & HP debts...... 93000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
tesco..........................3000......91........0
aliance and leicester..........2000......120.......0
sainsburys.....................3000......120.......0
natwest .......................3000......120.......0
aqua card......................450.......20........0
barclaycard....................1500......40........0
barclays.......................7800......250.......0
Total unsecured debts..........20750.....761.......-

Monthly Budget Summary

Total monthly income.................... 2,485
Expenses (including HP & secured debts). 1,796
Available for debt repayments........... 689
Monthly UNsecured debt repayments....... 761
Amount short for making debt repayments. -72

Personal Balance Sheet Summary
Total assets (things you own)........... 106,600
Total HP & Secured debt................. -93,000
Total Unsecured debt.................... -20,750
Net Assets.............................. -7,150


Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

seafarers_wife

can you cut the grocery stuff even by £25 or £50 and thats a small saving?

thats the only one i can really see where you can try and cut back on as to me eveyrthing else looks ok, as im assuming the mobiles are tied into contracts otherwise you would have lowered them by now?

gxx

RAS

Hi

is the CT arrears?

regret70

Hi

yes i was thinking that, im not too worried about the SOA as i can hopefully make small changes that will add up. my mobile contract is up in may so i will be able to change then.

my only worry is the £900 short!

thanks

regret70

RAS wrote: »

Hi

is the CT arrears?

yes it is, that is the remainder for 2009/10 that we need to pay. we havent had the bill for this year yet

RAS

You MUST pay the Council tax, that is priority or they will send bailiffs. You may be able to ring them and negiotiate but that will probably mean next month is a nightmare.

Halve your housekeeping - go over to the Old Style Money Saving forum and ask their help.

Birthday, Ents and haircuts can take a hike and cut back the phones and kill the satellite TV?

What could go to a car boot sale - given you need urgent cash?

I think since Tesco is alreay defaulted, you might as well send a token £5 this month.

You have not listed the payday loan on your SOA? Have you thought of contacting your local credit union and seeing if they will loan you enough to clear that?

regret70

thanks a car boot is a good idea we did some last year and it was really helpful.

thank you for your advice i cant believe it has come to this.

dancingfairy

re groceries - can you eeek out what you have in your cuboard and only buy bread/milk and fruit /veg to make up meals with things lurking in the back of the cuboard? That'll save a bit.
Gas and Electric - can you get these down a bit? any credit to reclaim on these?
C/Tax - try and get in touch and tryand agree a repayment plan - at the very least you need to pay something so they can see you are trying.
Mobiles- can you get the contracts lowered at all if on contract?
Haircuts are out this month I think and entertainment will need to be tv/internet based - or free stuff ie your local museum/walks in the park/free cinema tickets or stick to one drink and then just tap water if you must go out.
Contents and buildings could be reduced?
Ctax - do you need to pay them 84 pounds this month on top of the 250 or is the 250 the total? as this would obviously make a big difference to the amount you need to find.
Ebaying/car booting?


I think any money you can get hold of/save needs to go to 1) council tax - unless you can get a payment arrangement but be aware that you would need to pay any arrangement on top of next years payments or you could be storing up more trouble - 2) the payday loan - if you could get rid of this that would really help and then next month maybe target the tesco loan?
What about shifts in a bar - anything like that to give you a bit extra as I think if you can get through the next couple of months you will be on a lot better footing.
df

regret70

we have been trying to live off £20 groceries this month so the fridge is bear but i am really trying so hard.

yes i will need to pay an extra £84 on top of the council tax. i want to pay off the arrears and just get back on track.

i have looked for another job, but as i work a lot of hours already i really need the weekend to slow down as it wouldnt be too good for my mental health, as I suffer from depression. there is a chance that i may have a promotion soon which would be an extra £300 a month (just imagine how much it would save my life!!)

i know that if i could just find the money from somewhere i will get back on an even keele and i will be able to meet the payments in the future.

i will get onto the car booting and ebaying although i dont really have much left to sell.

thanks

gonzo127

regret70 wrote: »

Hello

I'm back again. I seem to be going round in circles all of the time and not getting anywhere. I posted a couple of months ago and addmitted to a gambling addiction that I had developed over the last year. on a positive note i seem to be doing really well with regards to this. My lovely husband has bought me a puppy which has taken up all of my time, I hardly go on the internet now, not even facebook! I have even loat a stone in weight in a month so am feeling more positive, however i am constantly worrying about money, i hardly sleep and whenever i hear a car door bang outside i convince myself the bayliffs have pulled up (would they just turn up like that??)

My only concern is that this month I need to find an extra £900 for debt repayments that i have missed. mainly £250 council tax £300 tesco loan (they have issued a default) and £250 (payday loan- i know what you are all thinking about that!) and a few other odd amounts

This is my new SOA. please can anybody offer me some advice. the SOA is for a normal month and not for the extra payments


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1835
Partners monthly income after tax....... 650
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2485
Monthly Expense Details
Mortgage................................ 820 - is this interest only or repayment?
Secured/HP loan repayments.............. 200
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 84
Electricity............................. 30
Gas..................................... 30 - have you checked to see if on best deal? try comparison sites with yoru annual usage in KWH and then go through a cashback site like quidco
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 20
Mobile phone............................ 50 - even if you are in contract phone them up and see if you can drop a tariff (even for a short period ie 6 months) the worst they can say is no
TV Licence.............................. 12
Satellite/Cable TV...................... 15 - is this still in contract? if not look at freesatfrom sky and cancel the contract
Internet Services....................... 0
Groceries etc. ......................... 200 - this can have big savings i usually tell people ot aim for £60 per person per month, try meal planning batch cooking and the drop a brabd challenge
Clothing................................ 0
Petrol/diesel........................... 100 - all nessesary trips? coul dyou walk more often? do you drive efficently (slowly accelerating)?
Road tax................................ 10
Car Insurance........................... 35 - when is renewal? are you fully comp? could you drop to third party or third party fire and theft for the remainder of policy
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 7
Buildings insurance..................... 30
Contents insurance...................... 0
Life assurance ......................... 10
Other insurance......................... 30 - whats this?
Presents (birthday, christmas etc)...... 10
Haircuts................................ 20 - can do yourself or check out local colleges incase they need models for the students to get experience
Entertainment........................... 50 - will have to go for the time being
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1796

Assets
Cash.................................... 0
House value (Gross)..................... 100000
Shares and bonds........................ 0
Car(s).................................. 6600
Other assets............................ 0
Total Assets............................ 106600

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 89000....(820)......0
Hire Purchase (HP) debt ...... 4000.....(200)......0
Total secured & HP debts...... 93000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
tesco..........................3000......91........0
aliance and leicester..........2000......120.......0
sainsburys.....................3000......120.......0
natwest .......................3000......120.......0
aqua card......................450.......20........0
barclaycard....................1500......40........0
barclays.......................7800......250.......0
Total unsecured debts..........20750.....761.......-

Monthly Budget Summary

Total monthly income.................... 2,485
Expenses (including HP & secured debts). 1,796
Available for debt repayments........... 689
Monthly UNsecured debt repayments....... 761
Amount short for making debt repayments. -72

Personal Balance Sheet Summary
Total assets (things you own)........... 106,600
Total HP & Secured debt................. -93,000
Total Unsecured debt.................... -20,750
Net Assets.............................. -7,150


Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

right i have made a few comments, which i hope help

as everyone has stated the council tax is a massive priority and you need to contact them ASAP

as to you being worried about bailiffs just turning up, this will not happen with unsecured debt, unless you have a CCJ which you default against you, and even if they do turn up you do not have to let them in, as there are rules that regulate them

if someone else turns up on your doorstep without a court approved warrent, these will just be doorstep collectors and have LESS rights than you local paper boy! and you do not have to talk to them, you do not have to let them in and you can call the police on them if they do not leave your property when requested!

regret70

thank you, that is a relief about the bayliffs, i dont think it has got that far yet and as long as i can make up the missed payments pretty quickly i am hoping it will be okay.

the mortgage is a repayment mortgage but is only so high because, guess what, i missed 2 payments. luckily they agreeed i can over pay by £200 for 6 months so that will go down by august. also the Natwest payment is for my overdraft and is an arranged fee to get my overdraft within its limit again, that will be up in august too so i should be £320 better off by august at least.