Needing Help Big Time

carlm1984

Hi all,

Im new to this part of the board, but its about time ive come here, just im now getting desparate. In the last 2 months ive been struggling to pay my bills big time, this is mainly due to moving from work, now working at gatwick, so its costing me alot more in petrol and at the moment my company are being funny about paying me back. I have a meeting tomorrow to hopefully sort this out. But ive done an SOA to hopefully get some advice from some people here who have gone through the same trouble as i have. Just to get some advice and help. Im just in desperation now. Ive also tried to get loans with barclays and tescos and both have said no and that i dont have a good enough score to get a loan. So any help id be ever so greatful for.

Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1300
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1300
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 200
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 50
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 30
Groceries etc. ......................... 70
Clothing................................ 5
Petrol/diesel........................... 400
Road tax................................ 13
Car Insurance........................... 42
Car maintenance (including MOT)......... 30
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)...... 10
Haircuts................................ 10
Entertainment........................... 40
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 900

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 7500
Other assets............................ 0
Total Assets............................ 7500

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................2450......70........19.9
Barclays.......................800.......100.1.....24.15
Tesco..........................2700......189.6.....8.57
Total unsecured debts..........5950......359.7.....-

Monthly Budget Summary
Total monthly income.................... 1,300
Expenses (including HP & secured debts). 900
Available for debt repayments........... 453
Monthly UNsecured debt repayments....... 359.7
Amount left after debt repayments....... 40.3
Personal Balance Sheet Summary
Total assets (things you own)........... 7,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -5,950
Net Assets.............................. 1,550
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Thank you to anyone who posts back in advance, just like i say im in dire need to sort this out, so hope someone can help guide me in the correct way

never-in-doubt

Why are you paying £400 per month back to credit cards when you only have to pay 3% (or min payment) which on a total of £6k is only £180...... If they are loans please specify.....

Also, consider swapping cars cos £400 per month on fuel is a lot!

Otherwise, i'd say you shouldn't be in a mess really cos you are not really in what is known as a bad position IMO....

Best of luck

jwil

Hi Carl,

Are you not paying electric/gas/tv licence/water/council tax? All of these are missing from your SOA. Can you reduce your mobile contract? £50 seems high. Have you checked your car insurance to see if you are on the best deal?

Those are just a few thoughts, best of luck with it.

never-in-doubt

jwil wrote: »

Hi Carl,

Are you not paying electric/gas/tv licence/water/council tax? All of these are missing from your SOA. Can you reduce your mobile contract? £50 seems high. Have you checked your car insurance to see if you are on the best deal?

Those are just a few thoughts, best of luck with it.

I was thinking maybe the £200 is board (parents)? Maybe wrong but that's what my initial thought was

carlm1984

never-in-doubt wrote: »

Why are you paying £400 per month back to credit cards when you only have to pay 3% (or min payment) which on a total of £6k is only £180...... If they are loans please specify.....

Also, consider swapping cars cos £400 per month on fuel is a lot!

Otherwise, i'd say you shouldn't be in a mess really cos you are not really in what is known as a bad position IMO....

Best of luck

Hiya There,

thank you for getting back to me. Well my barclaycard is a credit card and then the tescos and barclays is a loan.

Well in some ways i dont think it matters so much what car i have, cause at the moment i am travelling from heathrow to gatwick and back 5 days a week and that is costing me alot. I have thought about selling my car as its worth a bit, but if possible id like not to, but we all say that dont we.

Yeah i no i shouldnt be in a mess, but i have been the cause of my own downfall by spending more than i should, so now its time to sort out my life and get myself back out of this debts

carlm1984

jwil wrote: »

Hi Carl,

Are you not paying electric/gas/tv licence/water/council tax? All of these are missing from your SOA. Can you reduce your mobile contract? £50 seems high. Have you checked your car insurance to see if you are on the best deal?

Those are just a few thoughts, best of luck with it.

Hiya, again thank you for replying.

no im not paying any of those at the moment, as im living with my parents. I havent tried to change my mobile bill as i thought i couldnt and as i got my iphone at the start, thats why its a high bill. Again with my car insurance, its due to be up in september, so again, didnt think i could look at changing before that time, if im able to ill look into it, but just not sure that i can

carlm1984

never-in-doubt wrote: »

I was thinking maybe the £200 is board (parents)? Maybe wrong but that's what my initial thought was

and you would be 100% with your intial thoughts

never-in-doubt

Really from my POV i'd be saying merge all your debts into one and stick to one lower monthly payment, speak to your own bank. Its only £6k which over 3 years or longer won't be that much each month, yea you may be "worse off" long term but its better than being skint, short term, no?

Best of luck

carlm1984

never-in-doubt wrote: »

Really from my POV i'd be saying merge all your debts into one and stick to one lower monthly payment, speak to your own bank. Its only £6k which over 3 years or longer won't be that much each month, yea you may be "worse off" long term but its better than being skint, short term, no?

Best of luck

Well the problem is i have tried with barclays and tescos to consolodate all my loans and so that im able to pay off lower amounts each month, but both knocked me back, so its leaving me struggling big time. So even if i could just get a loan to consolodate everything, that would be amazing, its just seeming impossible just now

theoretica

As your company has moved are other people doing this long commute too? Could you ride share? How expensive is the airport bus?

carkeyz

carlm1984 wrote: »

Hi all,

Im new to this part of the board, but its about time ive come here, just im now getting desparate. In the last 2 months ive been struggling to pay my bills big time, this is mainly due to moving from work, now working at gatwick, so its costing me alot more in petrol and at the moment my company are being funny about paying me back. I have a meeting tomorrow to hopefully sort this out. But ive done an SOA to hopefully get some advice from some people here who have gone through the same trouble as i have. Just to get some advice and help. Im just in desperation now. Ive also tried to get loans with barclays and tescos and both have said no and that i dont have a good enough score to get a loan. So any help id be ever so greatful for.

Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1300
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1300
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 200
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 50 This is very high!
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 30
Groceries etc. ......................... 70
Clothing................................ 5
Petrol/diesel........................... 400 Wow! Would you be able to sell your car an opt for something like an LPG/Diesel?
Road tax................................ 0 You need to budget for this
Car Insurance........................... 42
Car maintenance (including MOT)......... 30
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)...... 10
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 847

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 7500
Other assets............................ 0
Total Assets............................ 7500

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................2450......70........19.9
Barclays.......................800.......100.1.....24.15
Tesco..........................2700......189.6.....8.57
Total unsecured debts..........5950......359.7.....-

Monthly Budget Summary
Total monthly income.................... 1,300
Expenses (including HP & secured debts). 847
Available for debt repayments........... 453
Monthly UNsecured debt repayments....... 359.7
Amount left after debt repayments....... 93.3
Personal Balance Sheet Summary
Total assets (things you own)........... 7,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -5,950
Net Assets.............................. 1,550
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Thank you to anyone who posts back in advance, just like i say im in dire need to sort this out, so hope someone can help guide me in the correct way

Hiya

Have added a few comments. One thing that worries me is that you have no tv licence, gas electric, council tax ect Do you live with parents?

xxx