Who turned the lights on?

elona

Have a look on the freebies board and the thread on Pigsback.
You can get piggypoints that you exchange for Boots or other vouchers.

xx-Tina-xx

Thanks again for my well wishes.. It boosted my confidence no end that i'm on the right track here! So far this morning I have transferred a £381 balance on a Dorothy Perkins store card which had a whopping APR of 28% (rather than 29.9% because I paid it normally via Direct Debit) over to an MNBA card which as O% APR until June I do believe!! So i'm taking the right steps I do believe

I've also spent the last 20 minutes on the phone to the Tax Credits helpline... They have managed to get my payments wrong every year, so i've wound up owing them £4700. Apparently, my claims form for this year 2005-2006 hadnt been processed (despite me sending it off in July) hence my getting this hefty bill. Spoke to a really nice Lady at the tax office who has basically said that shes reinstated my claim now, and that I can disregard the letters asking for the £4700 to be paid back (I did of course ask her to confirm all this in writing for me which she said she will)... So that is a HUGE weight off my mind!!

Now i'm going to have a go at snowballing! Wish me luck!!!

xx-Tina-xx

EEEEEEEEEEK!!!



Monthly Incomings:

My salary - Average of around £1500 (depending on what shifts I work)Partners salary Given to me towards the Housekeeping - £600 (although this should increase soon as hes just gotten a new job
Child Benefit - £69
Maintainance Payments from ex-husband for our son - £250
Working Tax Credit - £50


Total - £2469

Monthly Outgoings:

Mortgage/Rent - £765-77
Council Tax - £99
Gas and Electric combined payment £55
Water rates - £40 (although I think this might be every 3 months)
TV License - £10.99
Sky £43.10
Phone (landline) £24 (its Homecall with an evening and weekend calls package and the extra comes from a few calls that need to be made during the day)
Broadband £27-99 (Orange unlimited download package)
Mobile Phone PAYG - £10 top up about every 6 weeks or so. Its just for emergencies really
Food - £200
Car Insurance - £30.42
Petrol - £50
Life Insurance £13-51 (me)
£13.31 (OH)
Building and contents insurance - £27.97
American Life Insurance - £9-95
Homeserve Water Insurance - £9
Hitachi Capital - £83.05 (this was 3 years 0.0% for Laser Eye Treatment and have made 6 payments so far)
Barclays Health Insurance - £12.55

I've just cancelled my Dorothy Perkins Store Card and transferred the balance on to my MBNA 0% APR until June so now my credit cards look like this....

Barclaycard - £3963.47 (the majority of this has been taken up with balance transfers at 0% until June I think it is! although the Annual rate for purchases is 17.9% (Credit limit £5300) Minimum payment is 2.25% which this month is £81

Virgin MBNA Card - £1938 at 0% until June (this was solely a balance transfer) Minimum payment £43

White Room MBNA Card - £625.24 at 0% until June (I basically used this to write myself a cheque as I need extra funds) OH was about of work for 3 months which is how a good amount of this debt has run up (NO EXCUSE THOUGH!!) Minimum Payment £31.26 (I am however waiting for a balance transfer from my Dorothy Perkins Store Card to be transferred into this account... The store card had £318 on it with an APR of 28%

Amazon Credit card (Online system isnt available at the moment, but I think I have about £200 left on that and I'm not sure whether or not its still 0%APR

Barclaysloan with PPI (a £10500 loan became a £14139 loan with PPI added on top) Monthy payment of £272.64 ARP 15.9%

Cahoot loan - Was for £10500, banged it down to £9000 as I kept paying extra off due its flexible overpayments. Now its back up to £10187 with a minimum payment of £207, but I try to pay off £250, and thats with an APR of 6.9%

Total Outgoings - £2048.25

**Thats before i've made any credit card payments**

To be honest, things don't actually look all that bad right now, especially with OH now working again (Still awaiting his first pay packet though so don't know how much exactly he will bring home) so things will be much easier once hes contributing regularly as for the last 3 months or so i've basically been paying all this minus his contribution, hence the spiralling CC bills


I hope i've managed to give all you lovely folks enough information!!

xx-Tina-xx

.. and just a few more things.....

... I plan on changing car insurance which I know I can get cheaper, checking out house and life insurance (which I think are pretty reasonable already)... I REALLY need to do something about phone/broadband/TV. Our house is already set up for telewest, so I think I might have a look at how much their packages are in comparison with the seperate services I already have

xx-Tina-xx

OK... I'm replying to myself here,which is the first sign of absolute madness!!:rolleyes:

I just snowballed, and I could very well be debt free in 2014, thats if I can find £100 per month to throw at each of my CC's. All credit card debt would be gone by 2010, along with my Cahoot loan. The only thing remaining would be my Barclay loan, which is fixed until 2014. All I need to do now is get them to remove the PPI (which is proving a pain in the bum to get them to do!) Hopefully they'll just be able to give me another loan to pay off the loan with the PPI, and arrange the new loan without, as nearly 70 quid a month is pretty steep when it would be much better off in my pocket rather than theres!!!

**Edited to add if I throw £50 a month towards the 3 lower CC's and £100 a month towards the CC with the larger balance, then I'll still be out of CC debt at the same time and hopefully will still have a little cash left over to 'spare'


I wish I really could convey my thanks to everyone on here for such sound advise! I've literally been making myself ill and a nervous wreck with all this worry!!!! I am SOOOOOO very glad I found you!

nidje

Hi
You're off to a great start and there's bound to be loads more advice others here will be able to give you.
I would suggest you look at changing your sky to "Freesat" or get a freeview box, this link may help you
http://www.bbc.co.uk/digital/tv/tv_nonsubs.shtml
N x

tyllwyd

xx-Tina-xx wrote:

All I need to do now is get them to remove the PPI (which is proving a pain in the bum to get them to do!) Hopefully they'll just be able to give me another loan to pay off the loan with the PPI, and arrange the new loan without, as nearly 70 quid a month is pretty steep when it would be much better off in my pocket rather than theres!!!

Make sure you get the figures for a settlement figure for your loan and compare that to the total repayments you are due to make - if the interest has been added on to your loan, you might find that you don't save any money on repaying early, so taking out a fresh loan would mean that you pay interest on the same money twice.

xx-Tina-xx

OK, its time for me to get some sleep... Ahhh... the joys of working nights!!

Thanks once again!!

xx-Tina-xx

xxxxx

Bestthingsinlifearefree

Great start Tina,

Sky needs to go or the packages reduced (if you have not done so already).

Keep up the good work.

all_hours

According to this you should have £286 left over each month - but there are some things missing from your SOA such as clothes, car tax + repairs, birthdays, christmas presents, haircuts etc.

Pay the minimum on everything including the cahoot loan and any overpayments should go on the barclay card as it has the highest interest rate.

The phone and broadband are high. Tiscali are doing offers with unlimited broadband and free weekend calls starting from £12.99

I wish there was a way of doing columns. :rolleyes:

My salary 1500
Partners 600
Child Benefit 69
Maintainance Payments for son 250
Working Tax Credit 50

Total 2469
================
Monthly Outgoings:

Mortgage/Rent 765.77
Council Tax 99
Gas and Electric combined payment 55
Water rates - 40
TV License 10.99
Sky 43.1
Phone 24
Broadband (Orange unlimited download package) 27.99
Mobile Phone PAYG 10
Food 200
Car Insurance 30.42
Petrol 50
Life Insurance (me) 13.51
(OH) 13.31
Building and contents insurance 27.97
American Life Insurance 9.95
Homeserve Water Insurance 9
Hitachi Capital - 83.05
Barclays Health Insurance 12.55

Total 1525.61
===========
Barclaycard - £3963.47 17.9% (Credit limit £5300) 81

Virgin MBNA Card - £1938 at 0% until June 43

White Room MBNA Card - £625.24 at 0% until June 47
625.24+318 = 943.24 - payments 5% per month?
Amazon Credit card £200 APR 0%? 6

Barclaysloan £14139 with PPI Monthy payment of ARP 15.9% 272.64

Cahoot loan - £10187 APR of 6.9% 207

Total Debt repayments 656.64

Total 2182.25

Surplus 286.75