soa

katie0532

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 694
Partners monthly income after tax....... 1620
Benefits................................ 971
Other income............................ 0
Total monthly income.................... 3285

Monthly Expense Details
Mortgage................................ 493
Secured/HP loan repayments.............. 212
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 164
Electricity............................. 68
Gas..................................... 58
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 650
Clothing................................ 20
Petrol/diesel........................... 50
Road tax................................ 15
Car Insurance........................... 27
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 281
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 10
Buildings insurance..................... 12
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 65
Haircuts................................ 50
Entertainment........................... 50
Holiday................................. 50
Emergency fund.......................... 0
medical travel insurance................ 6
paper................................... 2.5
bank a/c fee............................ 12.5
union................................... 6
tv rental............................... 30
child maintainence...................... 86
virginmedia............................. 95
gym membership.......................... 65
Total monthly expenses.................. 2669


Assets
Cash.................................... 0
House value (Gross)..................... 350000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 350000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 176000...(493)......3.2
Hire Purchase (HP) debt ...... 11000....(212)......5.9
Total secured & HP debts...... 187000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
egg ...........................3500......80........28.9
virgin.........................5300......80........22.9
tesco..........................3500......80........25.9
ltsb...........................1035......40........NaN
overdraft......................3000......20........0
overdraft......................1000......8.........0
very...........................800.......0.........28.9
littlewoods....................700.......0.........28.9
hitachi........................700.......32........5.9
argos..........................625.......25........28.9
virgin.........................4500......120.......17.9
barclaycard....................5600......120.......13.9
next...........................1000......100.......32.9
Total unsecured debts..........31260.....705.......-


Monthly Budget Summary
Total monthly income.................... 3,285
Expenses (including HP & secured debts). 2,669
Available for debt repayments........... 616
Monthly UNsecured debt repayments....... 705
Amount short for making debt repayments. -89

Personal Balance Sheet Summary
Total assets (things you own)........... 350,000
Total HP & Secured debt................. -187,000
Total Unsecured debt.................... -31,260
Net Assets.............................. 131,740

Any ideas?
should i just bite the bullet and agree repayment plan with CCCS?

CH27

You have posted this in your other thread & i have commented there.

BlueAngelCV

katie0532 wrote: »

Mobile phone............................ 25 Seems quite high, is this contract? Do you need it?
Groceries etc. ......................... 650 Wow! Definitely cut down here!
Presents (birthday, christmas etc)...... 65 Do you really need to budget this much each month?
Haircuts................................ 50 How often do you all get haircuts? This seems high
Entertainment........................... 50 Again this seems high, what is it going on
Holiday................................. 50 If things are that bad do you really need a holiday?
paper................................... 2.5 Do you really spend this much?
bank a/c fee............................ 12.5 Downgrade
union................................... 6 What's this?
tv rental............................... 30 You can buy tvs for about £60 so this can't be cost effective
child maintainence...................... 86 Is this for the children that live with you? Are they spending time elsewhere? If so groceries can be cut down even more
virginmedia............................. 95 What's this? Phone/internet? Seems very high
gym membership.......................... 65 Cancel. You can go jogging for exercise

I think that you can cut down your outgoings by £500-£600 without too much difficulty.

This would mean that you could increase monthly payments on your credit cards etc to get them paid off shortly.

You seem to have a fairly good household income so I think you should be able to sort yourselves out.