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I am in serious debt and need serious help!
Comments
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needserioushelp wrote: »Hi,
I have been trying to get out of my credit cards for years now, and paying the minimum has got me to a point where I am now unable to live...Can anyone suggest some useful help?
Thanks
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,655.46
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 0.00
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00 very high
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.00
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00 high
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00 high? mine's £20 per month on a meter
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90.00 can this be paid over 12 months not 10
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Home Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.00
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600.00
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.00
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 303.33 very high
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00 do you need this? can it not be included in your shopping bill?
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 433.33 Can you walk short journeys?
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33 try getting a different permit
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83.33 high (shop around)
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38.75
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.33
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 615.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.17
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67 scrap
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46.67 scrap
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67 scrap
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.00 scrap
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.00 scrap
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130.00 scrap
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 cut down for now
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.33
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 scrap
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58.33 scrap
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67 lower
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104.17 take pack up
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,655.46
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,259.08
My comments are above for you HTH x0 -
Clothes, Health and Beauty & Odds and Sods & Big One Offs - having all of these are definitely extravagant, you blatantly don't have the income to cover everything, so need to make some serious cuts.
The basics would be a roof over your head, water, elec, gas, council tax, grocery costs - and then go from there. How are you funding this over spend? You have credit card payments listed above, who is the CC with and what is the APR? Do you have any other debts?
xx0 -
I reckon that by scrapping non-essentials,like holidays and fun shopping you can save about £500 a month ,which can go towards debt repayments."The purpose of Life is to spread and create Happiness" :j0
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I agree with all on here but council tax £90 per month and some one asks are you in arrears for some one paying £600pm in rent it sounds cheap to me, my council tax is £130 pm and I live in a housing association home.OK observation over back to op.0
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It would be useful to know a bit (a lot) more about the OPs lifestyle.
I guess a divorced father living alone in a smallish property (v.low heating bills, low council tax) who sees his kids at weekends (lots of spend on family days out) and has an expensive car that he can't bear to give up. Probably can't cook much if at all (huge grocery bills plus eats at work etc.) .0 -
Sorry to be a pain, but please re-do your SOA using https://www.makesenseofcards.com/soacalc.html instead. It's the one we're more used to here and helps prevent double-counting.Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
Do something amazing. GIVE BLOOD.0 -
Perhaps the op doesn't like the responses to date?????0
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I'm fearing OP is possibly a troll, hope I'm wrong as there are many genuine people who need help on the board, so not very nice to waste peoples time.0
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Gothicfairy wrote: »bottleofred :
What makes you think £90 for council tax is high ? that is cheap in some areas and normal in others.
bottleofred
:
That doesn't sound a lot to me - I get a single person's discount and still pay £120pm over 12 months so £90.00 sounds good to me!Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free
Mortgage free since 20140
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