My turn

tyllwyd

If you do take out a consolidation loan, I would avoid paying the student loan with it - if you carry on you can get it paid off in less than a year, so it seems daft to turn it into a debt that will take six years to go away. And in a year's time you will have repaid the loan to your employer, so that will give you an extra £260 per month - so if you can work out a way to survive until next summer, things should start to look up.

terriblesaver

HI Bubblewrap and welcome - fear not things will soon get better! These guys are a tower of strength.
xxx
GOOD LUCK

calleyw

Bubblewrap wrote:

Some of my clients which i visit regularly are 40 mins drive (I know i was shocked with this). I have however been thinking about down grading my car and am currently looking into how well cars sell over here and how much i would get back from mine so this is one option i hadnt thought of! The other things ive been doing today is ......

If you are uising your car for business do you get mileage back. That should help cover your petrol bill.


Yours


Calley

Bubblewrap_2

lynzpower wrote:

I agree with climbgirl

Do you really want to be paying out all that extra money.

You say you dont have the energy to card tart. Not being funny, but its not really a big deal. I believe that M&S have a low life of balance as 3.% ish someone told me the other day. try adn get that, then you wont need to card tart again.

Ive just had a quick look on the internet and there does seem to be a fair amount of property at WAY less than you are spending. http://www.jerseyinsight.com/classified_1.asp?category=11&id4=11439&id=7779&id4=11447

Your right thankyou Climbgirl and Lynzpower for stopping me before i said yes! that loan over 6 years is probably not the right thing to do instead im probably best changing my cahoot into a fixed loan and try and card tart again, ill look into M&S hopefully they will still give me credit cards now i live here. In regards to the property thanks for looking but there is 2 issues 1. Im tied into a contract until May 07 and 2. The properties that are cheaper in Jersey are for those who have housing qualifications. They have this weird housing system over here A-H properties are for those who were born in Jersey or been here for 13 years... Only another 12 years and 8 months for me lol! But really appreciate all of your advice on here please keep it coming if you think of anything else. Climbgirl i know it sounds like an excuse about the spare room and in someways it is i would like to leave that as the total last resort only because being so far from family and friends i so look forward to them coming over, i do miss them terribly and i cant see them coming as much if they have to pay for a hotel! Also i havnt lived on my own for such a long time and im really enjoying it so far, if there is anyway out of it without doing that then i really would like to try that first! (Extravagant needs I know) However i wont truely rule it out until i see what else i can do. Thanks all who have contributed so far.

Bubblewrap_2

calleyw wrote:

If you are uising your car for business do you get mileage back. That should help cover your petrol bill.


Yours


Calley

Yes i get mileage and it is quite good 49p per mile! I have decided to do more visits than i probably need to (sneeky i know but every penny counts)

climbgirl

Bubblewrap wrote:

Climbgirl i know it sounds like an excuse about the spare room and in someways it is i would like to leave that as the total last resort only because being so far from family and friends i so look forward to them coming over, i do miss them terribly and i cant see them coming as much if they have to pay for a hotel! Also i havnt lived on my own for such a long time and im really enjoying it so far, if there is anyway out of it without doing that then i really would like to try that first! (Extravagant needs I know) However i wont truely rule it out until i see what else i can do. Thanks all who have contributed so far.

Entirely up to you of course, it just depends on how serious you are about getting out of debt! People come on here all the time saying 'oh I just couldn't give up sky/my car/holidays/whatever'. But they're usually changed posters in a month or two....

lil'H

hello and welcome, just a few notes added, sorry if it's repeating what others have said!

Bubblewrap wrote:

My incoming wage - £2623.91 any chance of getting overtime on top, or may be boost your income with selling on ebay etc?

Now my monthly out goings and how much i owe ...

£1200 - RENT (Standard for where i now live) WOW!
£200 - Bond and 1st month rent im paying back to my employers (will end in May 2007) currently owe £1600
£200.98 - MBNA loan 7.9% 3 years to go - £8000
£200 - Cahoot loan 12.2% variable loan as its variable dont know when it will end- £7798.35 left on it.
£44 per month - Electric (there is no gas in the property)
£58.20 - Student loan 3.2% £403.38 left 7 months to go (yipee)
£47.00 - Telephone and broadband v. Expensive, try and get a better deal, I pay £21 a month for phone and broadband, with unlimited landline calls day and night even though there is only one company it's worth trying just in case, if not do you need the internet at home, can you get away with using it at work?
£100 - Egg credit card 16.9% Owe £4100 got £5000 limit can you switch to a 0% deal?
£75 - Natwest credit card 16.9% Owe £3350 got £4000 limitas above
£36 - Skyluxery, are you serious about shifting debts? then ring them and say you can't afford it, see how cheap they will go, if you aren't in contract then cancel it
£226 - Car finance £5.9% (I think) owe £7000 due to finish 3 years.
£56.38 - Black horse finance interest free owe £2000 due to end in 3 years
£6.02 - House insurance

Also have an overdraft of £2250 (last month i went over on this incurring £30 charge just to add to my misery)

Total out going per month - £2449.58
Leaving a grand total of £174.33 and you will notice i have not yet added in food and petrol!!!

Total owe - £36501.73

QUOTE]

Bubblewrap_2

climbgirl wrote:

Entirely up to you of course, it just depends on how serious you are about getting out of debt! People come on here all the time saying 'oh I just couldn't give up sky/my car/holidays/whatever'. But they're usually changed posters in a month or two....

I really hope i am changed within a month or two! I have taken this first step by actually acknowleging the sad fact of me being in debt (Which is a real big step before now i hadnt even looked at my bank statements for approx 1 year they were still sealed in their envelopes my way of ignoring it) However, I know now that i have to make more bigger steps even if they pain me but hey i got myself into it now i have to get my self out of it!

david_hellier

From the figures you've given you have £48.57 per week to spend on anything else including food, petrol, going out etc etc. This assumes you get rid of Sky and go digital.

There seem to be a few thing missing; council tax, car running costs, TV licence etc. Have you included everything? If you have you must not spend more than £48.57 per week or you will get further into debt.

Like the others, I suggest you look for a cheaper place to live or get another better paid job. Do not use your credit cards any more. Take a good look at your spending and post it fully on this site. 100% honesty is required in this game.

The figures are as follows;

income weekly monthly
self 2623.91
partner







total 0.00 2623.91
605.52 divided by 4.33

605.52 total weekly income

spend weekly monthly
rent/mortgage 1200.00
council tax 0.00
elec 44.00
gas 0.00
water 0.00
secured loans 0.00
TV licence 0.00
fines 0.00
bond 200.00
mbna loan 200.98
cahoot 200.00
student loan 58.20
phone 47.00
egg 100.00
nat west cc 75.00
sky 0.00
car loan 226.00
black horse 56.28
house ins 6.02











total 0.00 2413.48
556.96 divided by 4.33

£556.96 total weekly spend

Start= income - spend = £48.57 per week

Bubblewrap_2

david_hellier wrote:

There seem to be a few thing missing; council tax, car running costs, TV licence etc. Have you included everything? If you have you must not spend more than £48.57 per week or you will get further into debt.

Luckily they dont have council tax over here and car running costs I havnt yet budgeted for. TV licence is paid in advance so wont need to pay that again until June 2007. Unfortunataly im tied into sky for 12 months so im reducing the package rather than getting rid im trying to downgrade from £37 to £18