Ok Here's My Situation...

cjay89

I've got myself into a REAL pickle. I origonally was looking for ANOTHER loan to sort everything out - and reduce my repayments, but no one will lend - and I've realised that this is just another part of the downward spiral.....


PLEAAAAASE HELP - Its getting me down!!

I have just been on the phone to nearly all my creditors seeing what I can do and I've just filled out a SOA - These are the results

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................ 840
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 840

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 410
Management charge (leasehold property).. 0
Council tax............................. 145
Electricity............................. 50
Gas..................................... 0
Oil..................................... 0
Water rates............................. 50
Telephone (land line)................... 45
Mobile phone............................ 15
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 80
Clothing................................ 0
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).... 18
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 813


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
Halifax Credit Card............583.......5.........0
Halifax Overdraft..............102.6.....5.........0.03
Capital Finance One............195.......10........0
Family Loan....................1500......5.........0
Cheque Centre..................250.......1.........0
Sky ...........................125.......1.........0
Cash Genie.....................130.......130.......0
txtLoan........................135.......135.......0
Payday UK......................225.......10........0
Wonga..........................198.44....10........0
24/7 Moneybox..................125.......20........0
Quick Quid.....................180.97....10........0
Total unsecured debts..........3750.01...342.......-


Monthly Budget Summary
Total monthly income.................... 840
Expenses (including HP & secured debts). 813
Available for debt repayments........... 27
Monthly UNsecured debt repayments....... 342
Amount short for making debt repayments. -315

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,750.01
Net Assets.............................. -3,750.01

Created using the SOA calculator at
*link removed due to me being a new poster*
Reproduced on Moneysavingexpert with permission, using Firefox browser.

I am Trying to find cheaper accomodation or move back in with my parents - untill then this is what I've got to live with.

I don't know what more information to put up here, so please if you can help - ask me any questions and I can respond truthfully and honestly


I GREATLY appreciate in advance the time you take to read this and to any replies/help!!!!!!!!!!!

Thank you so much in advance, Charlie

Tixy

Hi

Do you live alone currently?

cjay89 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................ 840
Partners monthly income after tax....... 0
Benefits................................ 0 how old are you? are you entitled to any working tax credits? check out on www.entitledto.com
Other income............................ 0 any chance of a second job or more hours at work?
Total monthly income.................... 840

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 410
Management charge (leasehold property).. 0
Council tax............................. 145 are you getting the 25% single person discount? if so do you have some arrears as this looks high.
Electricity............................. 50
Gas..................................... 0
Oil..................................... 0
Water rates............................. 50 this looks high - do you have arrears? have you tried to get a water meter installed?
Telephone (land line)................... 45 does this include broadband? are you in contract? if not see if you can switch as you can get some deals for £20 for both home phone and internet.
Mobile phone............................ 15
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 80
Clothing................................ 0
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).... 18 this looks quite high - if mostly prescriptions would a prepayment cert be better - if something like contacts then have you looked to see if you can get cheaper online?
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 813


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
Halifax Credit Card............583.......5.........0
Halifax Overdraft..............102.6.....5.........0.03
Capital Finance One............195.......10........0
Family Loan....................1500......5.........0
Cheque Centre..................250.......1.........0
Sky ...........................125.......1.........0
Cash Genie.....................130.......130.......0
txtLoan........................135.......135.......0
Payday UK......................225.......10........0
Wonga..........................198.44....10........0
24/7 Moneybox..................125.......20........0
Quick Quid.....................180.97....10........0
Total unsecured debts..........3750.01...342.......-


Monthly Budget Summary
Total monthly income.................... 840
Expenses (including HP & secured debts). 813
Available for debt repayments........... 27
Monthly UNsecured debt repayments....... 342
Amount short for making debt repayments. -315

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,750.01
Net Assets.............................. -3,750.01

Created using the SOA calculator at
*link removed due to me being a new poster*
Reproduced on Moneysavingexpert with permission, using Firefox browser.

I am Trying to find cheaper accomodation or move back in with my parents - untill then this is what I've got to live with.

I don't know what more information to put up here, so please if you can help - ask me any questions and I can respond truthfully and honestly


I GREATLY appreciate in advance the time you take to read this and to any replies/help!!!!!!!!!!!

Thank you so much in advance, Charlie

Obviously your problem is the payday loans. Aside from the 2 large payments have the rest all agreed to reduced payments?

When are the txtloan and cash genie loans due for repayment? do you have anything you can sell to raise some cash (car boot, ebay, gumtree, local paper etc? old clothes, mobiles, computer games etc).

How soon could you stop your current tenancy? would parents be okay for you to move home whilst you get yourself sorted?

Have you spoken to any of the debt charities yet?

Are you using a new current account for your salary (not the halifax one)?

dancingfairy

The problem is not necessarily the debt in your case - it is a symptom - your rent compared to income is very high. Ideally you need to a) claim benefits if you can or b) try and earn more.
Apart from the council tax which looks really high your costs are not very high and you have missed some out altogether - ie clothes, tv licence, maybe the odd present/night out, contents insurance etc.
I hope you can sort something out but at the moment the situation doesn't look sustainable - can you share a flat with people? or alternatively moving home might be a good plan.
Good Luck
df

tallyhoh

Have you checked whether you are entitled to housing/council tax benefit, are you claiming 25% discount on council tax if you live alone. As suggested above check out entitled.co.uk.

You really cant afford this sort of rent, can you take a lodger.? Maybe moving back with family is a good idea.