Not Sure what to do

buzzykye

As it says, im not sure what to do next.
My partner and i are currently paying all bills c/c, car finance, catalogues, utilities etc on time but we don't seem to have enough let over for food shopping and fuel for car.

We both work and have 2 children at home.

We both have a car due to where we live and how far from home we work, we have thought about getting rid of one but would pay equally the same amount in fares to get to work.


Contacted CCCS online and they say to phone and book an appointment, but didn't know if we could just try to consolidate all bills or possibly write to our creditors and offer smaller repayments, just dont really know where to go from here.

Any advice would be really helpful......i hope.

GeorgieFTB

First things first fill out an SOA, http://www.makesenseofcards.co.uk press the format for MSE button and post up here, depending on what that says other will be along and will let you know where you can cut costs and where you can juggle debts to help you out.

The site also has a snowball calculator which will help you figure out which debt to pay first.

Gx

buzzykye

font=courier new]Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 819
Partners monthly income after tax....... 1115
Benefits................................ 224
Other income............................ 0
Total monthly income.................... 2158

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 285
Rent.................................... 440
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 50
TV Licence.............................. 15
Satellite/Cable TV...................... 40
Internet Services....................... 5
Groceries etc. ......................... 300
Clothing................................ 0
Petrol/diesel........................... 300
Road tax................................ 21.25
Car Insurance........................... 100
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 40
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)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 1846.25


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 ...... 7500.....(285)......0
Total secured & HP debts...... 7500......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
capital one....................1600......95........29.9
barclaycard....................6000......185.......29.9
Provident .....................890.......140.......0
Catalogue 2....................175.......15........0
catalogue 1....................1135......60........0
Total unsecured debts..........9800......495.......-


Monthly Budget Summary
Total monthly income.................... 2,158
Expenses (including HP & secured debts). 1,846.25
Available for debt repayments........... 311.75
Monthly UNsecured debt repayments....... 495
Amount short for making debt repayments. -183.25

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -7,500
Total Unsecured debt.................... -9,800
Net Assets.............................. -17,300

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.[/font]

buzzykye

not quite sure if i have done this correctly, but think so!

buzzykye

we have recently cancelled our Satellite TV but this does not finish until end of may.
Cant seem to cancel mobile phones as we are on a 24 month contract with 12 months remaining
There really is no emergency fund as such - just forget to delete that item.
The more i read the more i remember more bills - £15.00 bank account fee which includes breakdown cover for both cars.

ilovecheese

£15.00 a month is £180.00 a year, at the moment the AA are doing an on-line policy for £28.00. Does the account give you any other benefits? If not it might be worth cancelling this and taking out a policy direct.

chrissie52

Hi

No suggestions re your SOA, but I'm sure there will be others along soon to give advice. Just one thing struck me re the bank account fee ( I have a thing about banks using these to take our money:mad:). If you only have this for the car breakdown facility, get yourself along to Autonational Rescue's website ( I will say there are other rescue associations out there that you can use though;)) ( hope I'm allowed to do this mods?) and check out their price, if you can find the cash to buy online, £99 total cover for both cars for 15 months cover! And they're good.
Good luck

buzzykye

Hi Chrissie52 & ilovecheese - thanks for your replies.
Basically the £15.00 gives us the following as stated on the Barclays website "The Barclays Additions Active account comes with everything you’d expect plus all those little extras that make life easier.
Benefits 1 include travel and mobile phone insurance, breakdown cover and an interest-free overdraft 2 , all for £15 a month."
Our overdraft is only £100 and we always go into it but try really hard not to go over it - you actually think you're getting something worthwhile - but not really, think this will be cancelled too!

iwanttosavemoney2008

buzzykye wrote: »

font=courier new]Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 819
Partners monthly income after tax....... 1115
Benefits................................ 224
Other income............................ 0
Total monthly income.................... 2158

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 285
Rent.................................... 440
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 50 [COLOR="rgb(255, 0, 255)"]can you change this get a cheaper deal or even go [COLOR="rgb(255, 0, 255)"][/COLOR]pay as you go?[/COLOR]
TV Licence.............................. 15
Satellite/Cable TV...................... 40 [COLOR="rgb(255, 0, 255)"]check what channels you actually watch and get rid of the ones you don't even could go freeview[/COLOR]
Internet Services....................... 5
Groceries etc. ......................... 300 [COLOR="rgb(255, 0, 255)"]i spend £60 a month on a family of 5 so i am sure this can come down!! check out the old style board for ideas[/COLOR]
Clothing................................ 0
Petrol/diesel........................... 300
Road tax................................ 21.25
Car Insurance........................... 100
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 40
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)...... 10 [COLOR="rgb(255, 0, 255)"]hmm not sure i believe this count it up again dont forget mother/fathers days st val etc if you have 2 kids i'm sure you spend more than this each!! (£520)[/COLOR]
Haircuts................................ 0 [COLOR="rgb(255, 0, 255)"]do you have someone who does it free? or do you never have a hair cut?[/COLOR]
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 1846.25


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 ...... 7500.....(285)......0
Total secured & HP debts...... 7500......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
capital one....................1600......95........29.9
barclaycard....................6000......185.......29.9
Provident .....................890.......140.......0
Catalogue 2....................175.......15........0
catalogue 1....................1135......60........0
Total unsecured debts..........9800......495.......-


Monthly Budget Summary
Total monthly income.................... 2,158
Expenses (including HP & secured debts). 1,846.25
Available for debt repayments........... 311.75
Monthly UNsecured debt repayments....... 495
Amount short for making debt repayments. -183.25

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -7,500
Total Unsecured debt.................... -9,800
Net Assets.............................. -17,300

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.[/font]

my comments at the side hon

buzzykye

Hi there iwanttosavemoney2008
Mobile phone - on 24 month contract with 12 Months to go - they wont let us cancel/ change to payg without paying the final 12 month contract!
Presents - Try to save £10 per month towards there presents, don't really buy family gifts - just cannot afford to.
Groceries - £60.00 per month for family of 5 - all i can say is WOW don't know how you do it!
Haircuts - Very rarely have these maybe once a year if i am lucky, Husband and son maybe £10 every 3 months and daughter i trim it myself every few months.

curlytop12

buzzykye wrote: »

font=courier new]Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 819
Partners monthly income after tax....... 1115
Benefits................................ 224
Other income............................ 0
Total monthly income.................... 2158

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 285
Rent.................................... 440
Management charge (leasehold property).. 0
Council tax............................. 120-is this over 10 or 12 months?
Electricity............................. 30-check comparison sites/reduce usage-turn off at plug,switch off lights etc
Gas..................................... 30-as above

Oil..................................... 0
Water rates............................. 0-is this included in rent?
Telephone (land line)................... 20-bundle landline/internet togeter to get cheaper
Mobile phone............................ 50-drop a tariff if you can't cancel,reduce usage
TV Licence.............................. 15-is this not £12 odd?
Satellite/Cable TV...................... 40-go freeview at end of contract
Internet Services....................... 5-see landline comment
Groceries etc. ......................... 300
Clothing................................ 0-never?
Petrol/diesel........................... 300
Road tax................................ 21.25
Car Insurance........................... 100-shop around
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 40-what is this?
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0-should have this really,i know it's hard!
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10-sure?
Haircuts................................ 0-never?
Entertainment........................... 0-need to budget something here
Holiday................................. 0
Emergency fund.......................... 20-well done
Total monthly expenses.................. 1846.25


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0-niether car has a value?
Other assets............................ 0
Total Assets............................ 0


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 7500.....(285)......0
Total secured & HP debts...... 7500......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
capital one....................1600......95........29.9
barclaycard....................6000......185.......29.9
Provident .....................890.......140.......0
Catalogue 2....................175.......15........0
catalogue 1....................1135......60........0
Total unsecured debts..........9800......495.......-


Monthly Budget Summary
Total monthly income.................... 2,158
Expenses (including HP & secured debts). 1,846.25
Available for debt repayments........... 311.75
Monthly UNsecured debt repayments....... 495
Amount short for making debt repayments. -183.25

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -7,500
Total Unsecured debt.................... -9,800
Net Assets.............................. -17,300

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.[/font]

feel for you,well done on facing up to it all.
is there anything you can sell .clothing,electricals,toys etc to put towards debts(what did the CC's get used for?)
have you checked you are getting all tax credits due to you?
did you include child benefit/child tax/working tax if you qualify?
any way of earning more,overtime/working from home/odd jobs/babysitting/dog walking etc?
can you clarify more about the 2 cars situation?value of each/what are they used for/when/could one of you cycle/car share/beg lifts?
good luck,more advice will be forthcoming i am sure.