A bit of a mess ...any help gratefully recieved

jazzrose343

Hello This is my first post .

I have got my self into some debt problems and require any assitance that can be given. I have found myself with too much going out and unable to manage month to month. I would prefer not to enter into a DMP and instead contact my creditors individually . Any help with template letters or generall advice would be very gratefully recieved.

Some of the loans have been as a result of helping a family member with financial difficulty and then getting into trouble myself as a result.
The amounts on my statement show the contricbutions I currently make to the household I live in .

The statement shows amounts owing per month to payday loan companies. This is showing the amount I would need to pay if loan is not rolled over.

This is my statement of affairs


Monthly Income Details[/b]
Monthly income after tax................ 1075
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1075
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 286
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 15
Gas..................................... 15
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 0
Satellite/Cable TV...................... 30
Internet Services....................... 0
Groceries etc. ......................... 75
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 100
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 25
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
(Unnamed monthly expense)............... 100
Total monthly expenses.................. 891

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
Halifax Mastercard.............500.......15........18
Natwest MasterCard ............500.......15........18
Capital One Visa...............200.......10........30.04
Allied International...........700.......100.......0
Wage Day Advance ..............275.......275.......1737
Quick Quid.....................750.......750.......2689
PTPD...........................467.......467.......1737
PDUK...........................525.......525.......1737
Minicredit.....................509.......509.......2689
Wonga..........................529.......529.......2689
Total unsecured debts..........4955......3195......-

Monthly Budget Summary
Total monthly income.................... 1,075
Expenses (including HP & secured debts). 891
Available for debt repayments........... 184
Monthly UNsecured debt repayments....... 3,195
Amount short for making debt repayments. -3,011
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -4,955
Net Assets.............................. -4,955

HAYLEY8005

Hi the Jazz
Im sure the experts will be along later but looking at your soa i can see your problem the pay day loans are crippling you, first thing you need to do is open up a basic new bank account like the co-o or barclays and get wages and your direct debits moved asap as otherwise those pay days will be calling for their money and you will have nothing left. once this is done you can then negociate with them for a repayment plan but whatever you do do not give them the new bank account or card numbers you set up a standing order to them.
I can see you have alot of essentials missing to is this only your share you pay for if so for now you need to drop the sky or cancel to lowest possible tariff. If groceries are for you only again you need to cut back as that is high for one person. Clothing stop buying anything new and use what you have or ebay anything no longer needed. Presents again i know xmas is coming but you really cant afford the £40 a month drop to £10 and buy for the children only.

Hope this helps a little
Hayley

isy1011

Is that really the interest rate? 2689% I cannot believe that! There are 4 adults in the house yet only one income. Is that correct? What about benefits? Surely you should be on some sort of benefits with a child in the house. As your grocery bill is low for 4 adults I assume you are splitting the bill somehow.

£100 on travel is very high. £40 on presents is something you are going to have to stop straight away. You simply cannot afford it.

I dont really understand your SOA. As you have £750 total debt with Quickquid but are paying £750 a month. So therefore that means no debt next month?? Can you check your figures.

KingElvis

^^ those are what is know as "payday loans" you pay back the total amount (sorta) on payday, hence the one big payment.

It works like this, you borrow £100 until payday, you pay back £150 on payday, the loan is then over as such.

These things are the work of the devil and the op has to be about as deep into them as I have ever seen, they need to contact one of the registered debt charities asap.

david_hellier

If you own no property I suggest bankruptcy and make a fresh start.