It's scary when you put it into an SOA isn't it!!

OneStepATaTime_3

Well this is mine...

Please dont think the red parts are excuses, they're honestly not and if i see any way to change them i will be

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0 Currently training for a new job and looking into night work too.
Partners monthly income after tax....... 1152
Benefits................................ 87.96
Other income............................ 180
Total monthly income.................... 1419.96
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 495
Management charge (leasehold property).. 0
Council tax............................. 123
Electricity............................. 60 Pre payment meter installed due to landlords previous debt, supplier wont remove as we are tenants, currently working on bringing this down
Gas..................................... 50 British Gas budget amount, got to pay it for a month or two more before i can ask for it to be dropped.
Oil..................................... 0
Water rates............................. 25.24
Telephone (land line)................... 11.99 Virgin package with internet and TV, contracted so cant cancel
Mobile phone............................ 42 Includes dongle payment 2 year contract which is finished Dec 10, phone itself is £22 a month.
TV Licence.............................. 12
Satellite/Cable TV...................... 10
Internet Services....................... 9
Groceries etc. ......................... 140 till trying everymonth to bring this down.
Clothing................................ 0
Petrol/diesel........................... 225 Cannot be brought down as £200 a month of it is solely to get my OH to work, hes looking for a job closer to home but its bleak so far.
Road tax................................ 15
Car Insurance........................... 71.2 Just been redone and brought down from £84 a month.
Car maintenance (including MOT)......... 5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12.8
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 1337.23

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0 Car not listed as doesnt belong to me.
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Kays...........................1118......100.......0
Argos..........................550.......50........0
Buchanan Clark & Well..........311.24....22........0
Friend.........................395.......50........0
Friend.........................8000......100.......0 This was a shortfall when we went into recession and the pound crashed against the dollar overnight, friend very understanding and knows it will take a good while to pay.
RBS C/C........................375.......22........16.9
RBS O/D........................3000......83........0 Cant remember interest rate on this but will find out, payment is interest on OD and charge for having it per month.
Yorkshire Water................86.56.....5.........0
PDCS...........................276.43....5.........0
Northants Court................505.......40........0
Fredrickson Inter..............371.44....5.........0
Aktiv Kapital..................1056.63...10........0
C.A.R.S........................159.64....5.........0
1st Credit ....................284.84....5.........0
Collections Direct.............955.69....5.........0
Collections Direct.............1240.39...5.........0
Buchanan Clark & Well..........190.09....22........0
Total unsecured debts..........18875.95..534.......-

Monthly Budget Summary
Total monthly income.................... 1,419.96
Expenses (including HP & secured debts). 1,337.23
Available for debt repayments........... 82.73
Monthly UNsecured debt repayments....... 534
Amount short for making debt repayments. -451.27
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,875.95
Net Assets.............................. -18,875.95
Reproduced on Moneysavingexpert with permission, using IE browser.

Thanks for reading and any help you guys could give me would be great

sueeve

How much longer will your training take, and how assured are you of a job at the end of it?

OneStepATaTime_3

Another month or two and a job is pretty certain but not guaranteed.

I'm looking into night shifts perhaps shelf stacking or something in the meantime.

OneStepATaTime_3

Ouch, just checked online banking and discovered the APR on my overdraft is 19.2%!!

nicnoo99

Hello,
Not sure I can be much help, but didn't want to read and run. It sounds like once you get a job sorted you'll be able to cover the shortfall fine, but until then you're going to struggle.
Make sure you're looking at all kinds of jobs you can do - have you tried agencies? Also, lots of places recruit extra people for Christmas, like the Post Office. You could try them?
The only thing I could suggest in relation to your emergency repayment situation would be whether you can ask your understanding friend to extend the loan by £1000 to cover you until your training finishes? It doesn't increase the loan by much, but might stop your family going under?
Good luck.

podperson

Have you checked you're getting all the benefits you're entitled to, child benefit, working/child tax credits, maybe even a bit of council tax until you start working properly.
Can't see a great deal you can currently cut down on in your expenses. Could you possibly speak to your friends and ask if you could have a few months payment break on those loans until you start work?

RAS

You really do need to check the APRs on everything.

RAS

With whom do you have your current bank accounts?

OneStepATaTime_3

RAS wrote: »

With whom do you have your current bank accounts?

They're with RBS. I'm now massively regretting taking the £3000 OD 3 years ago, i didnt pay much attention to the APR on it at the time and cant get out of it now. Being honest Im never out of the minus £2000 and something bracket of the OD and have too much else to pay out to concentrate on it so have to put up with paying between £65 and £80 a month in charges for it