Tell me this can be sorted out?

jo5ephedward5

david_hellier wrote:

Yes, it can be worked out.

As the others say you need to supply us with more detail, but according to my calcs with the figures you give you have £4.62 per week to spend on any thing. So in this emergency situation you need to not spend any more than this per week, otherwise you are overspending. I've included £20pm for each of your ODs so ignore your bank balance.

All I can suggest is you claim any benefits you are entitled to eg Housing Benefit, Council Tax Benefit. NB I'm no benefits expert. Or, you could get an extra part-time job and use this income to spend on food and paying some of your debts. It's important you budget carefully in order to stop over spend; that's where we can help, so let's have the honest detail.

The figures are:


income weekly monthly
self 1200.00
partner







total 0.00 1200.00
276.93 divided by 4.33

276.93 total weekly income

spend weekly monthly
rent/mortgage 605.00
council tax
elec
gas
water
secured loans
TV licence
fines
mob 40.00
gym 35.00
nwide 135.00
nwide cc 75.00
cap one 10.00
black horse 1 155.00
black horse 2 35.00
hsbc 50.00
od payoff 20.00
od2 payoff 20.00












total 0.00 1180.00
272.31 divided by 4.33

£272.31 total weekly spend

Start= income - spend = £4.62 per week

god it looks bad when you put it like that!

i'm going to see what i can reduce this weekend - will go and see the gym again to try and stop membership, will also contact Vodafone and lower that. its a start then i will look into DMP - thanks for your help.

also not intitled to benifits as earn £19475 a year - i also pay a student loan out of my wages form my last degree - this has been taken out of salary and leaves me with £1200 after tax, insurance and teh student loan...

climbgirl

jo5ephedward5 wrote:

Thanks - my trouble is i'm a proud man - i messed up when i was 18 and promised myself when i got clear i'd never do it again - then of course i did it again!

I know i'm going to have to give in an get a DMP - its just hard to fully admit it (hope that doenst sound stupid!)

Uni is free - Government pay for course and give me £250 a year for equipment - plus i have to study part time as its a condition of my job - it also doent reduce my pay wilst i study - however it does preven t me from getting a second job, the only advantage to stopping uni would be the second job but i would loose my curret job and probably not make any where near this salary in another job.

I know it all takes time effort etc - just finding it hard to deal with

Joe

Yes, I don't mean to sound harsh - just trying to give you a reality check I guess! Stick with the uni if it's free then, sounds like it's quite a good deal you've got if work will give you time off for it.

I do think you need to call Payplan or CCCS, even just to discuss your options. There is not much room for error in your budget, there's not a lot of obvious things we can suggest to cut down (not in the near future with the contracts etc) and the possibility of more income doesn't seem likely. So to make a real difference to this debt, there isn't a lot to work with in your budget (I assume you're just making minimum payments at the moment?).

Call them up and see what they suggest - I think you need some help with this one!

bobbadog

jo5ephedward5 wrote:

lol I do share - its £1200 between us inc. bills - thats cheap for 2 bedroom flat in central london!

the only way i could save money on this is to go in to a massive group house share with strangers and then i would be saving £150 per month ... however i would be living further out for that price so transport cost would go up as i would need to get a tube pass @ £100 a month. i currently walk most days and get a bus (80p) when its raining etc - i work in Zone 1 and live in Zone 2 so its not that ethical to live further out

Aye aye, it's cheap for Central London... but if you moved out a little you'd save loads! A bus pass is only £12 a week my love I lived in Hammersmith for 430 a month in a two bed a few years ago, and it was gorgeous. Now in South London for £387.50 in a one bed house with my partner. Think rent is an easy one could save on, when ya lease is up.x

Lara44

I just wanted to echo the point about rent - with all your debt you really need to be thinking about moving. The last room I had was £340pcm all inclusive - not the Ritz but no dump and really gives you room in your budget.

I would suggest a bike for travelling, it's cheap to run and much better than getting the tube or the bus imho.

Not sure you've fully had your lightbulb moment yet, you're on a good wage. I also study part time and take home exactly half what you do after tax. If you had an extra £600 pm to throw at debts you wouldn't need a DMP....

jo5ephedward5

bobbadog wrote:

Aye aye, it's cheap for Central London... but if you moved out a little you'd save loads! A bus pass is only £12 a week my love I lived in Hammersmith for 430 a month in a two bed a few years ago, and it was gorgeous. Now in South London for £387.50 in a one bed house with my partner. Think rent is an easy one could save on, when ya lease is up.x

'transport for London' says 02:31 to get from Hammersmith (or that far out etc) to Angel - thats not practical for me lol, tho i will be moving when the contract is up - i had already decided that - just didn't realise quite how much extra i'm paying compared to others.

jo5ephedward5

LaraHoust wrote:

I just wanted to echo the point about rent - with all your debt you really need to be thinking about moving. The last room I had was £340pcm all inclusive - not the Ritz but no dump and really gives you room in your budget.

I would suggest a bike for travelling, it's cheap to run and much better than getting the tube or the bus imho.

Not sure you've fully had your lightbulb moment yet, you're on a good wage. I also study part time and take home exactly half what you do after tax. If you had an extra £600 pm to throw at debts you wouldn't need a DMP....

the bulb is partially lit - its on a dimer at the moment but you guys are helping me turn up the brightness!

as for if i had an extra 600pcm i'd be fine...i know, just not sure how easy to generate that is, but then i'd prefer to do anything except a DMP - i know its not going to happen but still...we all have dreams.

this afternoon has been most helpful, with some luck i can go and act on some of the comments and get back in a more possitive frame of mind

bobbadog

jo5ephedward5 wrote:

'transport for London' says 02:31 to get from Hammersmith (or that far out etc) to Angel - thats not practical for me lol, tho i will be moving when the contract is up - i had already decided that - just didn't realise quite how much extra i'm paying compared to others.

Sorry, was first place I thought of Is Angel that expensive? blimey, i'm out of touch down here in South London!

Is your bank overdraft reducing by 500 as it was a student account? would they be able to transfer it to a different sort and have you pay it back at a slight rate of interest? Give you a tiny bit of breathing space whilst you tackle everything else.

lynzpower

welcome

Yes, you need to move out of angel. Its a premium location, and has been for many years. Move just down the road into hackney and youll save yourself at least 100 a month, anbd probalby still take the same bus home from work.

Lynz
x

jo5ephedward5

gotta love Hackney - tho we're designing the Petchy Academy there and having seen the kids i'm not sure i'm street enough lol.

i dont live in Angel - nearer Holloway (did i say i wasnt street - thats a lie)

i'm on it looked around and i could save around £100 a month with a move...roll on 6 months! (though in 9 months i can live with my GF in a one bedroom place and save even more - cant wait!)

Twopints

jo5ephedward5 wrote:

'transport for London' says 02:31 to get from Hammersmith (or that far out etc) to Angel - thats not practical for me lol, tho i will be moving when the contract is up - i had already decided that - just didn't realise quite how much extra i'm paying compared to others.

Does that mean 2 hours 31 minutes ? You can get from Hammersmith to Angel and back twice in that time !! and still have change from 2 and half hours.

:beer: