My SOA - how do I kick start myself !?!

Mics_chick

I've finally got round to facing up to some of it...

Joint Debts:
CapitalOne £19900
Lloyds Platinum £5500
Family £2500

Luckily both credit cards are 0% at the mo but CapOne ends at end of the year... Yikes!

Our income is virtually none existent (approx £700 per month)
I'm on long term sick with PND (£300 Incap Bem)
OH has had low paid job until recently but now is off sick as well with anxiety problems (due to combination of long term problem and crap working environment) (£300 SSP)
Rest of income is approx £100 Child Ben

I know of one thing I could do to start with which is sort out Tax Credits but I can't face it for some reason... I think a good part of it is how I feel generally because of PND.

Got some sort of meeting at JC on Thursday to see if they can help in any way - maybe I being a bit sceptical but I'm not holding out much hope...

Mics_chick

Smashing

Can you give us a breakdown of expenses each month? List of the things to include in the pinned post at the top of the board.

Mics_chick

Didn't see much point in putting much more detail in because I know we're living way beyond our means...

But here goes:

427 Mortgage
71 Npower gas & electric
26 Buildings/contents ins
101 Council tax
11 TV licence
25 Life insurance (to cover mortgage)
8 Phone - approx on last bill (varies but always pretty low)
11 Broadband

Car insurance paid annually approx £400
Food - I honestly have no idea but its loads!

Minimum payment on CapOne cards about £600 (gulp!)
Not sure about min payment on Lloyds TSB card yet.

Does this make it any clearer?

moozie_2

Hello Mics_Chick and welcome

It would be helpful if you could post a full SOA with all your income and outgoings including all debts, minimum repayments, limits and APRs.

We will then be able to give you some advice. This can be a very overwhelming time, especially with everything else you have going on. I'd suggest contacting National Debtline/CCCS/Payplan/CAB - any of them offer free and unbiased advice and would be able to lend you a hand.

Hope you post again soon. It will get easier, one day at a time.

moozie_2

Sorry, posts crossed. I think the best thing would be to contact any of the agencies I mentioned.

Please remember piority has to be given to your mortgage and Council Tax over everything else. Perhaps you can send token payments with a letter explaining why you are taking that route to all your creditors until you can come to an arrangement that is mutually acceptable.

Hope things improve soon.

Mics_chick

PS I forgot £36 for Water Rates

PPS I've just had a go at adding up payments that we definitely did at Tesco or Sainsburys in the past month the total is £360. We also spent £170 on petrol but this includes a 3-hour trip to in-laws which will account for about a quarter of this at least. I've also added up cashpoint withdrawals which is a wopping extra £220 - which goes on takeaways, late night expeditions to petrol station, etc.

PPPS Eyelids are now well and truly pinned back!!!

shazanne_2

Hi Mics-chick
PND is awful but there is an end to it. You can access the Tax credits site at the inland revenue and it will give you an idea of what you can expect to receive. You might be surprised, I certainly was. Good luck.

Mics_chick

moozie wrote:

Sorry, posts crossed. I think the best thing would be to contact any of the agencies I mentioned.

Please remember piority has to be given to your mortgage and Council Tax over everything else. Perhaps you can send token payments with a letter explaining why you are taking that route to all your creditors until you can come to an arrangement that is mutually acceptable.

Hope things improve soon.

Does it make any difference if these are relatively new debts and the only money they had out of us so far is transfer fee - do you think I could still 'make a deal' without them slapping on any more interest?

moozie_2

The main issue is that your current income covers your basic bills, without food, car bills etc and doesn't leave you with space to pay your debts.

The agencies I listed will help you work things out. If you do go down the token payment route, charges and interest will be added on so it's not something to be taken lightly. Please call those agencies for professional advice.

Maybe someone more experienced will have something better to add

Mics_chick

My Tax Credit history is a bit complicated.

1) They overpaid us is in 1st year and even though I appealed it was turned down so they say we owe £2000+

2) Last couple of years they have started paying us then say we've been overpaid so they stop TC altogether for last 6 months!

3) We sent form back last year fully completed but they said they needed further info and sent us an additional form to fill in just for this info. I returned it but they said they didn't receive it so they stopped our TC altogether

4) They also said we owe £1200ish for 2nd year!

So I just got fed up and thought s*d it for a while... and I haven't been able to face doing anything about it since. But now I've got no choice because we desperately need the money.