Help please?

Taloola78

Was wondering if anyone can help me? I have managed to do my DMP myself, I sent off letters to all the companies and almost all of them froxe interest and charges excpet for my cldesdale bank cc, they did say that they would accept a payment of £55 per week though. At first I thought this was ok and was happy with it as I had been getting regular overtime. My overtime has stopped and I feel like I'm getting nowhere as I pay £220 per month but every month I am getting interest added by the sum of £130 so I really feel like deliberately defaulting as I am gonna be paying this forever.

Here's my soa

Income
Wages - £480 a month
Tax credits - £280
Petrol Allowance = £40

Total = £800

Outgoings
Clydesdale bank - £220
Loan - £200
Loan from brother - £60
Phone - £25 Tied till februaury.(it's going)
Tv - £40 thats for (phone,net,TV)
Rent - £200
Catalogue = £15
Petrol = £60
Car = £160

Total = £980

As you can see I have nothing left for clothes, car repairs. I dont have long till my loan is paid off though and my car only has another year to go. I just keep saying another year and it'll all look clearer.
Am at a loss as to what to do. When I sent them the letter in May I did give them a budget sheet but things have got worse from then. I think I may not have filled it in properly. And was kidding myelf about how much I actuall spend. I do not want to shirk my debt but this one cc company is makin me feel like I want to just say 'to hell with it' and get bankrupted.
Any help appreciated and thanks if your still here reading.

CLAPTON

can you say a little more about your situation.
you have nothing down for food ...are you living at home.

basically you need to produce a new SoA that you can actually live on and offer them what you can afford, explaining of course your changed circumstances....if they dont like it thats unfortunate but your current SoA is simply unviable.

do you keep a spending diary so you know exactly where the money goes?


can you get a new job as your income is very low?

oops_a_daisy

Hi there Taloola and welcome to DFW. Thanks for posting your SOA. Can I ask what you eat as it isnt included ? Have you seen the sticky thread called 'first time posters' there is a full SOA on there including everything - also include your APR's too.
You really have come to the right place for advice and support and Im sure others will be along soon with suggestions.

Good luck and all the best - OOPS

Taloola78

Thanks for the advice guys. Yes I do eat but at the minute I live with my mother and the rent is paid to her, she takes care of food and bills.
I am only working part time the now as my mum is disabled and needs someone to look after her. Hence why she pays bills and stuff as she knows I would need to work full time to do this, meaning she would have no proper care.
Hope this clears that up.
thanks

Biffa

Just a quick thought - have you applied for carer's allowance for looking after your mum?

The car is costing you a fortune. Do you really need it at the moment? Check your credit agreement for it as it may be possible to give the car back and clear the outstanding balance if you've already paid more than half of the original loan amount. We did the same thing a few years back and gave Hubby's car back to the finance company as we'd paid over half the original loan and didn;t owe them another penny. You could get a cheap run-around if you're only doing small mileage or a bus pass? You haven't included anything for car tax, insurance, repairs etc either.

Can you negotiate with your mum to pay less rent? If you're in rented accommodation you and your Mum may get some help from Housing Benefits. Have a look at https://www.entitledto.co.uk to see what other benefits you might be entitled to.

Hope this helps and welcome to MSE!