First time SOA - Please be gentle. Am so worried.

SimIsOnTheUp

Hiya guys and gals,

I'm a 36 year old single bloke, living in a Housing Association flat.

I am currently not working, due to having been ill with depression, anxiety, and alcohol issues, all of which I am now getting help for, starting next week.

So, my sole income is ESA / Housing Benefit / Council Tax Benefit.

Am looking at starting Voluntary work, for a local homeless charity, starting next Tuesday

I've been up all night, going through all my paperwork, filing everything, and filling out my SOA on paper, ready for my CAB appointment, with a 'Money Advice Trust' advisor on May 12th.

Feel shattered, and overwhelmed by the enormity of this, but am determined to tackle this head on.

Am seriously considering a DRO, in order to make a fresh start, as I can't see how to make headway with all of this debt - 99% of the debt has been accrued through my alcoholism and mental health issues. Really want to concentrate, on getting fit and well again, so I can get back to work.

Have discussed going into rehab for 3 / 6 months, with my Substance Misuse Worker, so I need to make a decision, as to what to do, by the time I see the CAB in 10 days time.

I would very much appreciate some advice, as to what I should do next regarding this debt.

Many Thanks,

Kind Regards,

Sim x ...

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................ 0
Partners monthly income after tax....... 0
Benefits................................ 590.32
Other income............................ 0
Total monthly income.................... 590.32

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 297.96
Management charge (leasehold property).. 0
Council tax............................. 55.16
Electricity............................. 61.2
Gas..................................... 0
Oil..................................... 0
Water rates............................. 26.8
Telephone (land line)................... 6
Mobile phone............................ 45
TV Licence.............................. 23.75
Satellite/Cable TV...................... 0
Internet Services....................... 5.99
Groceries etc. ......................... 171.5
Clothing................................ 10
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)...... 5
Haircuts................................ 8
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 5
Total monthly expenses.................. 731.36


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Rent Arrears...................24........0.........0
Council Tax Arrears............459.31....0.........0
Electric - NPower..............719.......0.........0
Student Loans Company..........14000.....0.........0
Ex - Girlfriend................1458......0.........0
O2 (DCA).......................1055.27...0.........0
O2 (DCA).......................588.23....0.........0
O2 (DCA).......................480.28....0.........0
Next Directory (DCA)...........108.59....0.........0
Empire Stores (DCA)............532.05....0.........0
Littlewoods a/c (DCA)..........536.35....0.........0
Vanquis Visa CC (DCA)..........357.89....0.........0
Capital One Visa(DCA)..........688.33....0.........0
TV License Arrears.............71.25.....0.........0
DWP Crisis Loans...............710.82....0.........0
Housing Bft O/Payment..........2370......0.........0
Severn Trent Water.............180.......0.........0
Total unsecured debts..........24347.37..0.........-


Monthly Budget Summary
Total monthly income.................... 590.32
Expenses (including HP & secured debts). 731.36
Available for debt repayments........... -141.04
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -141.04

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -24,347.37
Net Assets.............................. -24,347.37

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

SimIsOnTheUp

I should add, that in January of this year, I was looking at losing my flat.

Thanks to my then Girlfriend, lending me the £827.00 for clearing the (then) Rent Arrears, my Housing Association, who were due to go to Court for a Postponed Possession Order for my flat, instead just applied for Costs - they did not go for any 'Court Order', and my flat is now safe.

Due to my falling off the wagon recently, since 16th April, I have fallen into £24.00 of arrears with my Rent. I am going to contact my HA this morning to advise I can pay this next Friday.

The Costs are £100, and were ordered by the Court, to be repaid at £1.00 per week.

I also have to make up the shortfall of £5.00 per week of rent (as my Housing Benefit is £5.00 short) - ie - £6.00 per week, every week, from now on.

jinky67

2 things spring to mind right away~mobile phone and groceries

both are very high, and these should be your first point to deal with

SimIsOnTheUp

Seeing this in black and white, has frightened me into staying sober.

That's got to be a good thing.

Thanks,

Sim x

SimIsOnTheUp

jinky67 wrote: »

2 things spring to mind right away~mobile phone and groceries

both are very high, and these should be your first point to deal with

Thanks jinky67.

The mobile phone is a contract, stupidly taken out in January, when I wasn't thinking straight :-/

You're right. It is ridiculously high.

If I could cancel the contract, and pop in a PAYG simcard, I wouldn't hesitate.

Apparently however, Vodafone don't even consider reducing any of their 'Your Plan' iPhone tariffs.

No harm in asking them though.

I'll call them this morning.

Groceries, I do need to look at reducing.

Food at £40.00 pw I struggle on as it is!

I've included cleaning / toiletries at £2.50 pw;

Newspapers at £2.00 pw (I can obviously not buy these);

Laundry at £1.00 pw;

Thanks again,

Sim.

SimIsOnTheUp

Love your signature, by the way.

Made me smile, after feeling thoroughly overwhelmed, and down!

jinky67

could you try and offering them the phone back and see if they will go for that option? worth a try

Take a look at these threads to help reduce your shopping bill

https://forums.moneysavingexpert.com/discussion/2434305

https://forums.moneysavingexpert.com/discussion/1826625

https://forums.moneysavingexpert.com/discussion/2384579


all good starting places methinks:A

Pitlanepiglet

I'd ignore the student loan co debt, it only becomes relevant if you are earning over the threshold to repay (£17k now?), don't let it add to your stress at this point.

Groceries could definitely be reduced and focusing on what you eat and cooking/learning to cook some basics might help you focus on your general health which may help with some of your other issues.

SimIsOnTheUp

jinky67 wrote: »

could you try and offering them the phone back and see if they will go for that option? worth a try

Take a look at these threads to help reduce your shopping bill

https://forums.moneysavingexpert.com/discussion/2434305

https://forums.moneysavingexpert.com/discussion/1826625

https://forums.moneysavingexpert.com/discussion/2384579


all good starting places methinks:A

Brilliant links, thanks!

Love the sound of the Old Style approach to cooking.

SimIsOnTheUp

Pitlanepiglet wrote: »

I'd ignore the student loan co debt, it only becomes relevant if you are earning over the threshold to repay (£17k now?), don't let it add to your stress at this point.

Groceries could definitely be reduced and focusing on what you eat and cooking/learning to cook some basics might help you focus on your general health which may help with some of your other issues.

Good point regarding the SLC debt. Thanks.

Re Groceries, this is where I'm going to channel my energy.

It'll save money, and obviously make me feel better.

Spot on, thanks.

SimIsOnTheUp

Jinky67,

I forgot to say, good point re offering the phone back to Vodafone.

I'll see what they say later this morning.