Umm i think i need some help

crabyducky

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 1100
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1100

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 350
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 20
Gas..................................... 20
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 25
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 10
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 140
Medical (prescriptions, dentist etc).... 15
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.................. 770


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
Hsbc...........................3500......60........0
Capital one....................190.......9.7.......34.08
Vanquis bank...................500.......22........59.95
Rent arrears...................1400......150.......0
Payday express.................150.......150.......1737
Wonga..........................130.......130.......2689
Greenwood 2....................355.......70........433.4
Greenwood 1....................495.......70........433.4
Argos..........................290.......10........27.9
Total unsecured debts..........7010......671.7.....-


Monthly Budget Summary
Total monthly income.................... 1,100
Expenses (including HP & secured debts). 770
Available for debt repayments........... 330
Monthly UNsecured debt repayments....... 671.7
Amount short for making debt repayments. -341.7

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,010
Net Assets.............................. -7,010

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

hi all

got off phone earlier with payplan who have sent me a informal arrangement pack as i dont qualify for one their own DMPs. Anyone see where i could make savings?? Any help appreciated. Thanks

PNPSUKNET

I really cant see much for cut back, are you able to get rid of your mobile? If not you maybe worth looking at a DRO

ms_london

Hello. Welcome to MSE!

I am sure others will be along shortly with some advice (or tomorrow) but you have come to the right place....

Obviously there is a shortfall between what your creditors are expecting as a minimum payment and what you can afford. Once you have made sure everything is included in your budget, you need to allocate money that you can afford to pay to each creditor and then write to them proposing this. Explain you are having financial difficulty, that you propose to pay £X and will be in touch with them the minute your circumstances change.

I would say that paying your rent arrears would be priority, and also getting rid of the evil creditors like vanquis and the payday loans who are charging ridiculous interest. If you have any direct debits set up with your creditors, in the interim, cancel these which will buy you a few weeks to propose the new payments, otherwise they will take what they like, leaving you in a worse situation, etc, etc.

xx

Tixy

Hi

There doesn't seem to be loads of changes you can make from just this. Do you know why payplan said you would not qualify for a dmp? it seems like you would have £300 to put into a DMP. Although they may not be able to help until the rent arrears are paid. Might also be worth seeking advice from CCCS.

crabyducky wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 1100 could you do any overtime? a second job? is your place big enough to get a lodger in?
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1100

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 350
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 20
Gas..................................... 20
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 25 this should drop to £13 once you have had it for 6months
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100 this is not high, some people can manage on £70-£80 per month if needs be.
Clothing................................ 10
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 140 what is this? is it child support? has it been set officially or informally?
Medical (prescriptions, dentist etc).... 15
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.................. 770


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 which of these are you paying or not paying so far? Really you need to focus on the rent and just pay token payments to the others for now. Description....................Debt......Monthly...APR
Hsbc...........................3500......60........0
Capital one....................190.......9.7.......34.08
Vanquis bank...................500.......22........59.95
Rent arrears...................1400......150.......0
Payday express.................150.......150.......1737
Wonga..........................130.......130.......2689
Greenwood 2....................355.......70........433.4
Greenwood 1....................495.......70........433.4
Argos..........................290.......10........27.9
Total unsecured debts..........7010......671.7.....-


Monthly Budget Summary
Total monthly income.................... 1,100
Expenses (including HP & secured debts). 770
Available for debt repayments........... 330
Monthly UNsecured debt repayments....... 671.7
Amount short for making debt repayments. -341.7

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,010
Net Assets.............................. -7,010

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

hi all

got off phone earlier with payplan who have sent me a informal arrangement pack as i dont qualify for one their own DMPs. Anyone see where i could make savings?? Any help appreciated. Thanks

Have you set up a new bank account? if not that is probably a good starting point. Have you cancelled the dds etc yet?

crabyducky

Ok havent cancelled dds yetvor got new bank account wont be able to open one till atleast weekend as am working earlys till late rest this week.

140 for child is maintenance was set by CSA.

Rent arrears arent too much of a problem atm, as although i have to pay 150 PM she will allow me to pay a little less but not too much less.