Don't even know where to start- making me ill!

Jinx

cleggie wrote: »

Jinx- also want to say well done for clearing so much debt! Its so inspiring to see that someone has done it!

Thanks Cleggie There are lots here that owe a lot to this site and I am one of them!! I don't think I would ever have had the courage to get started before I saw this site. I was sooooo mortified by the situation I created for myself that I did the self-administered route and most of the time it has been really easy...

Communicate in writing, tell them how much you'll give, pay it religiously.... one payday at a time And accept the trashed credit record...:o Heyho....:D

cleggie

Thank you all so much for your replies!

Rugby chick- i have just dug out the paperork for tomorrow, so i now have it all in one place, so i cant sit down and work it out quite quickly (not sure if thats a good thing or not, ).
When posting a SOA do i just post the amount of debt i am in?

Jinx- i have a trashed credit rating anyway, lol, so dont really care about that.

I got into serious debt about 10 yrs ago and had CCJs, and swore i would never get into debt again...oops.

rugbychick81

You will need to post the whole thing - incomings and outgoings - warts and all!!

cleggie

Yikes! Lol. Thanks Rugbychick! Not fun, but totally necessary!

Butti

cleggie wrote: »

I have no clue how much my debts are in total (again, denial) but i reckon, not including my current students loans, it cant be more than £4000 (hopefully!).

Cleggy,

Take a breath. You will work out how much you owe tomorrow. You have paid off about £1000. You are currently a student.

So......

• Stop beating yourself up
• Work out exactly how much you owe
• Do a SOA
• ....and remember you are a student so your ability to pay chunks off may be compromised right now but should increase once you are working.

B

beanielou

cleggie~A big well done on paying off two debts
Keep plodding on & you will get there.
Baby steps.
CAP can help you with budgeting & paying your debt back.
You will get lots of support & help here so keep posting.

cleggie

Hi All,
so i have done my SOA (monthly):

Incomings:

Student finance- £798.24 (to work this out i split the annual amount by 12)
CTC- £383.60
CB-£134.80
HB- £48.12

Total- £1364

Outgoings:

Rent- £264 (arreas of £380)
Groceries- £250
Childcare- £280
BT- £26.00
Cabot Finaacial - £150.00 (total of £450)
Car Insurance- £56.00
Capital 1 card- £15.00 (arreas of £148.20)
SWW- £81.00 (arreas of £270)
Tiscali- £15.00
TV Licence- £22.00
Nursery Debt- £100 (Total £2000)

TOTAL- £1259

The Cabot Financial- i onlt have 2 more payments to make until i am finished with them. I was paying only £27 a month until last month when they reduced my total amount owed , from £578 to £450, if i paid 3 monthly amounts of £150.

Capital 1 is what i really want to sort out.
My credit limit is £100, but my balance is £248. 20, and i only pay £15 a month towards it, so at this rate i am never going to get it paid off! The minimum payment (except my DD) is £148.20 this month, but i cant pay it all off.


I have arrers with SWW, hence the payments being £81 a month, but am currently on the phone ( on hold!) with them to ask to get it lowered, but dont think i will be successful....(YAY..they have reduced it to £67 a month instead. Still a lot, but better!)

Ok, so, there it is, my SOA. Terrified about having faced up to my debt and money situation, but it really needs to be done. I am perfectly ready for the fact that i wont be able to save any money at all until debts are cleared off.

cleggie

I totally forgot to add car expenses.
I get £350 a year which i dont touch, this pays for the Tax and MOTs, so i dont worry about that too much. There is always some money left over from that, so again, ii dont touch it and it will eventually (finers crossed) be used for when the car needs some work done on it.

Petrol- i put £20 in a month.

RAS

cleggie wrote: »

Incomings:

Student finance- £798.24 (to work this out i split the annual amount by 12) - does this include the Parental Learning Allowance and the Dependents Allowances?
CTC- £383.60
CB-£134.80
HB- £48.12

Total- £1364

Outgoings:

Rent- £264 (arreas of £380) -this is your priority, not cards
Groceries- £250 - for how many people?
Childcare- £280
TV Licence- £22.00 - this should be £12
BT- £26.00
Cabot Finaacial - £150.00 (total of £450) - did you get your offer in writing?
Car Insurance- £56.00 - this is very high, particularly given how little you use the car. Can you get it cheaper?
Capital 1 card- £15.00 (arreas of £148.20)
SWW- £81.00 (arreas of £270) - this is very much a priority
Tiscali- £15.00
Nursery Debt- £100 (Total £2000)

TOTAL- £1259

The Cabot Financial- i onlt have 2 more payments to make until i am finished with them. I was paying only £27 a month until last month when they reduced my total amount owed , from £578 to £450, if i paid 3 monthly amounts of £150.

Please do not do this sort of deal again if you have priority debts; you must pay the rent, water rates and nursery feees first.

Capital 1 is what i really want to sort out.
My credit limit is £100, but my balance is £248. 20, and i only pay £15 a month towards it, so at this rate i am never going to get it paid off! The minimum payment (except my DD) is £148.20 this month, but i cant pay it all off.

This is not a priority debt.

I have arrers with SWW, hence the payments being £81 a month, but am currently on the phone ( on hold!) with them to ask to get it lowered, but dont think i will be successful....(YAY..they have reduced it to £67 a month instead. Still a lot, but better!)

Good, well done. Now how much is the water rates per month for next year?

Ok, so, there it is, my SOA. Terrified about having faced up to my debt and money situation, but it really needs to be done. I am perfectly ready for the fact that i wont be able to save any money at all until debts are cleared off.

HI

Have you spoken to your university and student union welfare officers? There may well be hardship grants to help you out. Please ask them urgently.

cleggie

Thanks for the reply RAS.

The SF figure is inclusive of the PLA and childcare. Not sure what the dependants allowance is??

Rent arreas- my HB covers all of my rent accept for £13, so i have offered to make weekly payments of £30 to pay the remainder of my rent that the HB does not cover, plus my rent arreas. They are happy with that.

The £250 p/m for groceries are for me, my 11yr old son and my 7 yr old son. both of them eat a LOT. I have managed to get that down from £480p/m so far, so am pleased with that, but am open to any suggestions of how to get it lower if poss!

TV Licence- i am not sure why its £22 then..i will have to phone them and ask tomorrow, thanks for the heads up!

Yep- i got the offer in writing from Cabot- received it last week.

Car Insurance- i only have 2 yrs no claims and live near the city centre, so it pushes the price up. I only have a 1.2. The insurance company i am with came out cheapest for me on the price commparison sites and also when i shopped around.

SWW- it will be £67p/m for the next year.

Yes, have spoken to the uni, and they cant help as their funding has been severly reduced. I did get a bursary of £600 in Jan, which i used to pay off a debt though.

Thanks again for the help, and i am open to suggestions!