Hello there

toontastic

Also have you got all the rates for your cards to make sure your throwing your money at the right ones.

on_the_edge_4

Yes the hole is getting bigger.
The car running costs are @95/month. Recovery is part of the insurance.
The food bill is high, and now i've seen the link i will chase it up.
The mobiles are £30/month each. One of which is on a 66% rebate which equates to £10/month over the year, so the true figure is £40/month for them both.
The gas & electric are high because of the budget scheme we are on and the company (Atlantic) is clawing it back. This should level out in a couple of months at @35/month/each.
The mortgage was part endowment and the 191/month is to cover it. given my current situation I doubt if anyone will touch me for fresh mortgage. Even more so when I get blacklisted !!

Many thanks for all your comments so far.

Dolly_Smith

Sounds like you've got insurance and policies linked to the mortgage (i.e. with the same company) - I'm sure you could find some savings there if you shop around. Just find out what the requirements are from the mortgage co.

Meerkat

Today I contacted the CCCS for the first time. It was a great relief to talk openly and honestly about my financial situation. The helpful CCCS fellow advised me to open a basic bank account. I will do this tomorrow afternoon but I have two questions.
1. Does anyone have experience of using a basic bank account? Please share
2. Could anyone recommend a good bank (I am already indebted to HSBC, NatWest and Woolwich)
3. I have applied and been accepted for a loan which I will use to pay off another loan. CCCS fellow says it's a bad idea. Is it really? (I said I had poor money management skills) I think it is better to pay a lower rate of interest????

southernscouser

Meerkat wrote:

Today I contacted the CCCS for the first time. It was a great relief to talk openly and honestly about my financial situation. The helpful CCCS fellow advised me to open a basic bank account. I will do this tomorrow afternoon but I have two questions.
1. Does anyone have experience of using a basic bank account? Please share
2. Could anyone recommend a good bank (I am already indebted to HSBC, NatWest and Woolwich)
3. I have applied and been accepted for a loan which I will use to pay off another loan. CCCS fellow says it's a bad idea. Is it really? (I said I had poor money management skills) I think it is better to pay a lower rate of interest????

Hi meerkat.

Can you start a new thread with your questions firstly coz you will get more answers to it and secondly it's not fair on the OP to have their thread hijacked so to speak.

david_hellier

Hi and welcome. According to my calculations you are overspending by £1.15 per week, without spending anything on food, clothes, the kids etc. This is an emergency situation and is in need of expert advice. Your SOA lacks a bit of detail but there is enough there to indicate urgent action is required. Your reluctance to get a DMP will only lead to the inevitible, bankruptcy.

I suggest you immediately get rid of mobiles, Sky and internet in order to have enough money to eat in the short term. Contact CCCS, you have no choice. If you can live without a car, then get rid of that.

Good luck, the figures are as follows:

income weekly monthly
self 2500.00
partner
cb 116.00
ctc 44.00





total 0.00 2660.00 divided by 4.33
£613.85

£613.85 total weekly income

spend weekly monthly
rent/mortgage 690.00
council tax 115.00
elec 45.00
gas 87.00
water 0.00
secured loans 340.00
TV licence 0.00
fines
mort policy 190.00
personal loan 330.00
personal loan 102.00
personal loan 130.00
cc 450.00
house ins 30.00
car ins 35.00
sky 28.00
phone 11.00
internet 22.00
mobile 60.00











total 0.00 2665.00 divided by 4.33
£615.00

£615.00 total weekly spend

Start= income - spend = - minus £1.15 per week