My SOA amd My Debt Diary

nearlyrich

Hello and welcome to the board, you are in the right place and there are lots of good ideas floating around the board.

I am assuming that the big loan was for the car, I understand that you need a car for the job, are your employers paying an allowance and/or your expenses for business miles? Are you claiming any extra tax allowance from the inland revenue for running youe own car for business?
Would it be possible to swap the car for a cheaper one, maybe realise some cash to pay off the CC's?

Do you have lots of stuff that you bought on your CC's, how about putting some on Ebay or finding a buyer in another way?

I am a little concerned that you live with your parents who seem to take no money from you and you have managed to get into £31000 of debt.

There are a lot more expenses involved in buying a property than just the mortgage and I am wondering if you have really thought about all that it entails, council tax, utilities, food to name but a few??

benbenandme

Totally understand that, perhaps you could be economical with the truth and explain you saw someone about a mortgage and are now trying to save towards your future?? Kind of truthful !! Maybe you'd rather not tell them anything but this is kind of similar to being on a diet (can you guess I'm female!) and thats always easier to stick to when people know what you're trying to achieve!!

Either way, you'll find plenty of support on here ... :beer:

skintscotsman

nearlyrich wrote:

Hello and welcome to the board, you are in the right place and there are lots of good ideas floating around the board.

I am assuming that the big loan was for the car, I understand that you need a car for the job, are your employers paying an allowance and/or your expenses for business miles? Are you claiming any extra tax allowance from the inland revenue for running youe own car for business?
Would it be possible to swap the car for a cheaper one, maybe realise some cash to pay off the CC's?

Do you have lots of stuff that you bought on your CC's, how about putting some on Ebay or finding a buyer in another way?

I am a little concerned that you live with your parents who seem to take no money from you and you have managed to get into £31000 of debt.

There are a lot more expenses involved in buying a property than just the mortgage and I am wondering if you have really thought about all that it entails, council tax, utilities, food to name but a few??

the loan has been from debts mounted up over 6 years of frivolous spending.....not proud of it

the car is a £500 for escort, so can't realyl go for a cheaper model!!!

there are a few things i can put on eBay, liek an old laptop, might sell my DSLR camera as I am no longer making money from it's use.

will maybe wait until after the new year to sell stuff on eBay as i think it may be quiet on second hand goods over the festive period

skintscotsman

benbenandme wrote:

Totally understand that, perhaps you could be economical with the truth and explain you saw someone about a mortgage and are now trying to save towards your future?? Kind of truthful !! Maybe you'd rather not tell them anything but this is kind of similar to being on a diet (can you guess I'm female!) and thats always easier to stick to when people know what you're trying to achieve!!

Either way, you'll find plenty of support on here ... :beer:

i am being economical witht he truth, i think it owuld end my parents if they know and they would actually sell their boat to put towards my debts, they're very kind;like that. my folks had debt probelms themselves as a result of the early 1990s recession and have only just dug themselves out of it, so no way will i put this stress on them

nearlyrich

skintscotsman wrote:

the car is a £500 for escort, so can't realyl go for a cheaper model!!!

Sorry I posted before you explained this to another poster. Do you get any help from your employer towards running costs?

You seem to have spent another £9000 + on CC's and O/D is this since you took out the loan? What have you spent it on? if it's day to day living then you need to make a budget that you can stick to based on your current income. Look at the top of the board for a budget planner.

skintscotsman

nearlyrich wrote:

Sorry I posted before you explained this to another poster. Do you get any help from your employer towards running costs?

You seem to have spent another £9000 + on CC's and O/D is this since you took out the loan? What have you spent it on? if it's day to day living then you need to make a budget that you can stick to based on your current income. Look at the top of the board for a budget planner.

yes i have spent a further 9k since i got the loan out last year......it has been on a combination of day-to-day living when there was too much month left at the end of the money but it has laso been used on three trips aborad.

i'll be honest, i know how to budget, just sticking to it on a day-to-day basis is the challenge for me.

skintscotsman

have just been on the phone to Virgin CC to do a balnace transfer and they#re looking for some bankl statements for proof of oaddress, turns out my current address doesn't appear on my credit file although i've recieved credit a couple of times since i moved here two years ago. fingers crossed they'll be happy with that and i'llget the balance transfer.

was tidying up my room today and there was a HUGE pile of 2p and 1p coins lying about, so i've managed to fill-up my doggy bank. there must be a few quid in there so i'll get that changed soon and put it towards some food for work or something worthwhile.

going to dig through a pile of unused CDs and other items to see if i can sell them on ebay, although i never really took care of my CDs so they might not be too sellable. have all of my CDs in mp3 format now so not bothered about selling them.

haven't spent anything today so far, although i am gojng to a concert tonight but getting free entry

James&Shell

Just wanted to say good Luck

skintscotsman

cheers

skintscotsman

well, that was the first weekend and i must admit i found it difficult being in company and trying not to spend. but hopefully it will get easier.

just found out today that i got a payrise and it has been backdated to August so I have a few extra pennies in this month's paypacket which will help in the run up to Christmas. My overall payrise is only £250 which is very little but it's better than nothing. got £125 backdated (before tax) so it's better than a toe in the nads.

However, I've obviousy passed a certain threshold as my Student Loan contributions have increased by 75% (from £20 to £35) and my pension contributions seem to habve increased by at least £15 too. don't notice thos econtributions coming off my salary so doesn't make much of a difference in the scheme of things.

just waiting on copies of bank statements arriving so I can send/fax them to Virgin to see if they will let me do a balance transfer, doubt I'll see the bank statements this week though.

been looking for chrimbo presents online too to see if i can get goo d discounts and use quidco too.