Need help

Jaystag

Don't really know what else to add.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1564
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1564
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 60
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 106
Electricity............................. 60
Gas..................................... 97
Oil..................................... 0
Water rates............................. 18.5
Telephone (land line)................... 35
Mobile phone............................ 15
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1041.5

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

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 300......(60).......0
Total secured & HP debts...... 300.......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................5800......188.......0
Loan...........................2800......71........0
C/Card.........................1250......60........0
Payday.........................860.......140.......0
Payday.........................590.......90........0
Overdraft......................500.......5.........0
Store Card.....................350.......15........0
C/Card.........................100.......5.........0
C/Card.........................500.......20........0
Total unsecured debts..........12750.....594.......-

Monthly Budget Summary
Total monthly income.................... 1,564
Expenses (including HP & secured debts). 1,041.5
Available for debt repayments........... 522.5
Monthly UNsecured debt repayments....... 594
Amount short for making debt repayments. -71.5
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -300
Total Unsecured debt.................... -12,750
Net Assets.............................. -13,050
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Nicky321

Jaystag wrote: »

Don't really know what else to add.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1564
Partners monthly income after tax....... 0(does this person not contribute?)
Benefits................................ 0(Child Benefit and other related benefits here?)
Other income............................ 0(2 adult income maybe)
Total monthly income.................... 1564
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 60
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 106 (is this over 10 or 12 months?)
Electricity............................. 60(check comparison sites for cheaper)
Gas..................................... 97(very high, check as above)
Oil..................................... 0
Water rates............................. 18.5
Telephone (land line)................... 35
Mobile phone............................ 15
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 0 (something here)
Petrol/diesel........................... 0(something here)
Road tax................................ 0(something here)
Car Insurance........................... 0(something here)
Car maintenance (including MOT)......... 0(something here)
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0(something here)
Contents insurance...................... 0(something here)
Life assurance ......................... 0(something here)
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0(something here)
Haircuts................................ 0(something here)
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0(something here)
Total monthly expenses.................. 1041.5

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

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 300......(60).......0
Total secured & HP debts...... 300.......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................5800......188.......0 (are all these 0% APR? and are the monthly repayments minimum?)
Loan...........................2800......71........0
C/Card.........................1250......60........0
Payday.........................860.......140.......0
Payday.........................590.......90........0
Overdraft......................500.......5.........0
Store Card.....................350.......15........0
C/Card.........................100.......5.........0
C/Card.........................500.......20........0
Total unsecured debts..........12750.....594.......-

Monthly Budget Summary
Total monthly income.................... 1,564
Expenses (including HP & secured debts). 1,041.5
Available for debt repayments........... 522.5
Monthly UNsecured debt repayments....... 594
Amount short for making debt repayments. -71.5
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -300
Total Unsecured debt.................... -12,750
Net Assets.............................. -13,050
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Just a few amendments. The more you fill in the better the picture. More people will be along to help i'm sure. Sit down with bank statements, household bills etc, and fill in as much on the SOA as possible, seems a lot, but much better when its all filled in.
HTH

[Deleted User]

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1564 Any way to increase, overtime second job?
Partners monthly income after tax....... 0 Any way to get something here - even a few hours a week part-time?
Benefits................................ 0 shouldn't you have something here - child benifit?
Total monthly income.................... 1564

Monthly Expense Details
Secured/HP loan repayments.............. 60
Rent.................................... 400
Council tax............................. 106 Are you paying this over the usual 10? Ask your council if you can spread over 12 months?
Electricity............................. 60 Both this, and below are very high, are you in arrears? If so when will they be clear. Check somewhere like Uswitch to see if you would get a cheaper tariff. Often duel fuel and online atriffs are cheaper. (If cheaper elsewhere, see if you will get cashback from one of the cashback websites (Quidco, topcashbac, onepoll etc)
Gas..................................... 97 as above
Water rates............................. 18.5
Telephone (land line)................... 35 Quite high, do you use all that is included in the package? Check with competitors to see if you would get the same or similar cheaper elsewhere.
Mobile phone............................ 15
TV Licence.............................. 0 don't you have a TV - if so you need this
Satellite/Cable TV...................... 0
Internet Services....................... 0 Is this included in phone? (sould be able to get home phone and internet for approx. £20 pm)
Groceries etc. ......................... 250
Clothing................................ 0 never? Even for the children?
Contents insurance...................... 0 you might want to consider this
Presents (birthday, christmas etc)...... 0 nothing ever?
Haircuts................................ 0 never?
Entertainment........................... 0 nothing here either?
Total monthly expenses.................. 1041.5


Secured & HP Debts
Description....................Debt......Monthly...APR You NEED to find the APR's out
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 300......(60).......0
Total secured & HP debts...... 300.......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR Again, you need to find the APR's out
Loan...........................5800......188.......0
Loan...........................2800......71........0
C/Card.........................1250......60........0
Payday.........................860.......140.......0
Payday.........................590.......90........0
Overdraft......................500.......5.........0
Store Card.....................350.......15........0
C/Card.........................100.......5.........0
C/Card.........................500.......20........0
Total unsecured debts..........12750.....594.......-

Monthly Budget Summary
Total monthly income.................... 1,564
Expenses (including HP & secured debts). 1,041.5
Available for debt repayments........... 522.5
Monthly UNsecured debt repayments....... 594
Amount short for making debt repayments. -71.5

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -300
Total Unsecured debt.................... -12,750
Net Assets.............................. -13,050

Hi,

I have made some comments above - some of your SOA seems like it may not be that accurate - if you are unsure what you spend in certain areas, then try and keep a spending diary to see where it all goes.

And there's nothing in for the cost of the car.

HTH

D9

Jaystag

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1564 Any way to increase, overtime second job? Not enough hours in day with 3 children
Partners monthly income after tax....... 0 Any way to get something here - even a few hours a week part-time? See above
Benefits................................ 0 shouldn't you have something here - child benifit? Paid to partner, she doesn't know about the problems here so I have included only the things I pay for or am paid. We have seperate finances.
Total monthly income.................... 1564

Monthly Expense Details
Secured/HP loan repayments.............. 60
Rent.................................... 400
Council tax............................. 106 Are you paying this over the usual 10? Ask your council if you can spread over 12 months? 10 months.
Electricity............................. 60 Both this, and below are very high, are you in arrears? If so when will they be clear. Check somewhere like Uswitch to see if you would get a cheaper tariff. Often duel fuel and online atriffs are cheaper. (If cheaper elsewhere, see if you will get cashback from one of the cashback websites (Quidco, topcashbac, onepoll etc) This includes some arrears from when we moved house so this is why it is high.
Gas..................................... 97 as above see above
Water rates............................. 18.5
Telephone (land line)................... 35 Quite high, do you use all that is included in the package? Check with competitors to see if you would get the same or similar cheaper elsewhere. this is broadband, phone, and tv
Mobile phone............................ 15
TV Licence.............................. 0 don't you have a TV - if so you need this paid by partner
Satellite/Cable TV...................... 0
Internet Services....................... 0 Is this included in phone? (sould be able to get home phone and internet for approx. £20 pm) included with phone
Groceries etc. ......................... 250
Clothing................................ 0 never? Even for the children? partner
Contents insurance...................... 0 you might want to consider this £9.87 per month
Presents (birthday, christmas etc)...... 0 nothing ever? £15
Haircuts................................ 0 never? £5
Entertainment........................... 0 nothing here either? Not now.
Total monthly expenses.................. 1041.5


Secured & HP Debts
Description....................Debt......Monthly.. .APR You NEED to find the APR's out
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 300......(60).......0
Total secured & HP debts...... 300.......-.........- APR not really important as this is a fixed payment over 6 months.

Unsecured Debts
Description....................Debt......Monthly.. .APR Again, you need to find the APR's out
Loan...........................5800......188...... .79.9%
Loan...........................2800......71.......not known at this time
C/Card.........................1250......60........79.9%
Payday.........................860.......140...... minimum payment to carry over payday loan each month
Payday.........................590.......90....... as above
Overdraft......................500.......5........ fixed £5 per month fee (always in O/D)
Store Card.....................350.......15........not known at this time
C/Card.........................100.......5.........39.9
C/Card.........................500.......20........59.9
Total unsecured debts..........12750.....594.......-

Monthly Budget Summary
Total monthly income.................... 1,564
Expenses (including HP & secured debts). 1,041.5
Available for debt repayments........... 522.5
Monthly UNsecured debt repayments....... 594
Amount short for making debt repayments. -71.5

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -300
Total Unsecured debt.................... -12,750
Net Assets.............................. -13,050

Hi,

I have made some comments above - some of your SOA seems like it may not be that accurate - if you are unsure what you spend in certain areas, then try and keep a spending diary to see where it all goes.

And there's nothing in for the cost of the car. Car belongs to my partner.

HTH

D9

wistles

Loan and credit card at 80%!! Who on earth are they with?

pmf63

I am pretty sure some of the others will say if your partner is contributing then you need to include their figures in order to help fully. Also !!!!!! ... you got some very high interest debts. 80%?? that means every month you are paying about £30 off of your £5800 loan!

Jaystag

Loan is 78% APR variable with Everyday Loans, Card at 79% is Vanquis. I know these debts are horrendous.

Jaystag

Also £2800 loan is at 11.9% APR

gingerdad

I think you need to sit and discuss this with your partner as its only going to get worse. sorry but it'll either make or break your relationship but you need to open up about this to her

pmf63

Jaystag wrote: »

Loan is 78% APR variable with Everyday Loans, Card at 79% is Vanquis. I know these debts are horrendous.

It's not your debts that are horrendous my friend it's the extortionate interest that is being charged. My priority would be to see if you can get someone to help you lower these interest rates. Even bringing them down to 49% which is common in high interest cc you would be paying off nearly twice as quickly.

I don't know how but I sincerely hope someone on here can suggest something.

pmf63

If I were you I wouldn't be sat reading this I would be on the phone to CCCS, or similar. And I agree with gingerdad, tell your partner before it is too late.