please help am on the edge

Hannah_10

Can you do an updated SOA please? If you go back to the site you did the first one on it should just load up again for you. You have missed out 3 debts- family, overdraft and housing benefit overpayment. At the moment we don't have the figures for them and it's preventing us from seeing your true situation.

Logie143

You say there's a toll bridge, which is more expensive to get round....is this the Humber bridge by any chance? I know there are alot of car shares going around to get over the bridge. Equally there are buses to many routes over the other side.

If it isn't....this may not apply!

blinky003

updated

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1086
Partners monthly income after tax....... 220
Benefits................................ 280
Other income............................ 19
Total monthly income.................... 1605

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 212
Rent.................................... 595
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 80
Gas..................................... 0
Oil..................................... 0
Water rates............................. 48
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 120
Clothing................................ 10
Petrol/diesel........................... 120
Road tax................................ 17
Car Insurance........................... 90
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 30
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1539


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 100
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2100


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 3500.....(98).......12.7
Hire Purchase (HP) debt ...... 3750.....(114)......18.6
Total secured & HP debts...... 7250......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................1300......25........6.8
overdraft......................2500......30........0
parents........................2000......70........0
housing benefit................150.......0.........0
Total unsecured debts..........5950......125.......-


Monthly Budget Summary
Total monthly income.................... 1,605
Expenses (including HP & secured debts). 1,539
Available for debt repayments........... 66
Monthly UNsecured debt repayments....... 125
Amount short for making debt repayments. -59

Personal Balance Sheet Summary
Total assets (things you own)........... 2,100
Total HP & Secured debt................. -7,250
Total Unsecured debt.................... -5,950
Net Assets.............................. -11,100

Created using the SOA calculator at
Reproduced on Moneysavingexpert with permission, using other browser.

blinky003

i take it as i have had no replies for since i posted and updated SOA it means i'm screwed lol

RAS

blinky003 wrote: »

updated

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1086
Partners monthly income after tax....... 220
Benefits................................ 280
Other income............................ 19
Total monthly income.................... 1605

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 212
Rent.................................... 595
Management charge (leasehold property).. 0
Council tax............................. 130 - 10 months or 12?
Electricity............................. 80 - this is high. Can you check it out and see whether you are in crwedit or not?
Gas..................................... 0
Oil..................................... 0
Water rates............................. 48 - high given your rent
Telephone (land line)................... 0
Mobile phone............................ 35 - can you reduce the packages and then think about PAYG
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 120 - this is very tight
Clothing................................ 10
Petrol/diesel........................... 120 - can you car-share for work to reduce your petrol and toll charges?
Road tax................................ 17
Car Insurance........................... 90
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 30
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1539


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 100
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2100


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 3500.....(98).......12.7 secured on what? You do not appear to own/mortgage your home?
Hire Purchase (HP) debt ...... 3750.....(114)......18.6 - what is this?
Total secured & HP debts...... 7250......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................1300......25........6.8
overdraft......................2500......30........0
parents........................2000......70........0
housing benefit................150.......0.........0
Total unsecured debts..........5950......125.......-


Monthly Budget Summary
Total monthly income.................... 1,605
Expenses (including HP & secured debts). 1,539
Available for debt repayments........... 66
Monthly UNsecured debt repayments....... 125
Amount short for making debt repayments. -59

Personal Balance Sheet Summary
Total assets (things you own)........... 2,100
Total HP & Secured debt................. -7,250
Total Unsecured debt.................... -5,950
Net Assets.............................. -11,100

Created using the SOA calculator at
Reproduced on Moneysavingexpert with permission, using other browser.

Please open a new basic bank account, so that you can move your salaries and benefits if necessary.

Until we know what the secured debts are, it is difficult to advise.

Also can you check the terms of the secured debts, as most allow you to return the goods part way through.

pennypusher

Hi can one of you work more hours to raise some more money. Do you have any relatives or friends who could look after the baby for a few hours a week while you work. Do you have anything you can ebay or sell at a car boot to raise some money to pay off one of your debts to lower your repayments a bit.

Can you rent anywhere cheaper, it doesn't seem very high now but I don't know where you live and if you could save on your rent at all?

Can you check you are getting all the benefits you are entitled to - you don't seem to be getting as much as I thought you might be able to get.

Possibly pay your Council Tax over 12 months instead of 10. Most councils will let you if you say you are struggling.

Will your landlord consider a water meter for the property. That would probably work out cheaper for you.

Can you cut down on your electricity costs at all. Go PAYG for your phone.

If you feel you would like professional help go to one of the debt free charities who don't charge for their services.

Good luck

matildabean

Am I being stupid or have you got no heating on this list?
No gas or oil only £80 electricity, seems cheap if this is the only heating source?

beachie

matildabean wrote: »

Am I being stupid or have you got no heating on this list?
No gas or oil only £80 electricity, seems cheap if this is the only heating source?

Maybe they live in a flat?

Incidently thought I thought it was quite expensive. My electricity usage (including heating) was only £35 a month over winter.