Sorry old chap, the money has run out!

tony_ack

Got home from being away with work for a couple of days today. I was greeted with a pile of official-looking post on the doormat... eek!

I sat down to open it, prepared for the worst.

First letter was a letter from the council, saying they were offering free insulation (cavity wall and loft) to homeowners in my area. Result!
Second letter was from the Halifax with a £35 cheque for my 'inconvenience' with last months loan payment. Score!
Third letter was the copy statement I requested from Barclaycard. Useful!
Fourth letter was my normal credit card statement from Halifax. Meh!
Fifth letter was from the Halifax, confirming the direct debit for my credit card payment had been cancelled. Fair enough!

Maybe things *are* improving a bit?

triple_choc_chip

Oooh, it's lovely when you're no longer scared of your post isn't it?

I remember that feeling when I'd conquered my fear of the bits of paper that came through the letterbox. I don't fear any person, but got the jitters from an envelope!

Just wanted to say that you're doing so well, and though you don't know it, you are inspiring, thank you. :beer:

jaffacakegal

tony_ack wrote: »

...and hopefully the amount will increase over time as my mileage allowance (40p per mile) is more than my fuel costs (about 15-20p per mile)

Lurker here Just wanted to say, don't forget to claim back your tax relief on your mileage, if you are not paid 45p a mile you can claim the difference on a tax return, or even just write to them. It all adds up - I got about £21.50 back one year in overpaid tax

JCG x

tony_ack

jaffacakegal wrote: »

Lurker here Just wanted to say, don't forget to claim back your tax relief on your mileage, if you are not paid 45p a mile you can claim the difference on a tax return, or even just write to them. It all adds up - I got about £21.50 back one year in overpaid tax

JCG x

That was something I was meaning to do, but forgot all about it! Think I'll get a similar amount back. I've put together a letter and all the amounts for 2011/2, so just need to print and send off.

In a nod to your forum name, Jaffa Cakes are £1 for 24 in Morrisons at the moment!

speshfesh

tony_ack wrote: »

Well, I think I owe my work a bit of an apology.

I submitted an expense form on Friday afternoon. My boss signed it off and handed to finance on Monday.

I got an email today telling me payment had been made, and would drop in my account on Friday! New record! So there's £190 I wasn't expecting until next month.

I did consider an expenses credit card when the problems started, but my credit rating was so trashed that even Vanquis were sending me packing! I think that's the point when I started thinking 'what's the point of holding off a DMP'.


HOWEVER, I still think the idea has merit - perhaps I should drop £100 of the money I'm getting back into a separate bank account, and use that to pay for fuel and living costs related to work? I should then have a working 'float' to cover my expenses until the next lot get back (already up to about £50 this week including mileage allowance and food), and hopefully the amount will increase over time as my mileage allowance (40p per mile) is more than my fuel costs (about 15-20p per mile)

Next month's budget is... okay, so I think I should send £50 to my mum out my expenses money as I owe her £150.

The other £40 can go into my new basic bank account once it is opened.

On other news... I got a call from 'Unknown' on my mobile earlier, so I assumed that the letters to my creditors had started to land. I was at work so ignored it. If it is important they'll leave a message - and they did - I got a text a minute later saying that CCCS had set up my DMP! My only slight concern is that I gave them the DD details for the payment for my overdrawn account, but I'm planning to dump that as soon as I get the account details for my new basic account. Shouldn't be a problem, but may be a timing issue, so just need to make sure that I get the account details in time to change the DD before 1st July. In really want to get all my DDs and payments transferred over ASAP, so I can shift my wages into my basic account as soon as I get paid.

I'm battening down the hatches for the expected furore from my creditors - the home phone is now unplugged (only get marketing calls on it anyway), and I have a call blocker on my mobile that will send specific numbers to answerphone. I've already written to all my creditors now to inform them of the DMP, so no more phone contact is required if CCCS are handling it. I having read other people's tales regarding aggressive creditors, so I hope I'm prepared.

Well done Tony,

Definitely think a working 'float' is a good idea to keep everything clean.
Get that new bank account set up as soon as you can though.
All you need to do then is sit back and periodically 'manage' the situation.:T

Good luck to you.:D

artyfartyem

Good luck with the DMP tony, hope all starts to get better soon!

tony_ack

Postman wasn't so kind this morning.

First a letter from Halifax explaining to me that I had arrears on my loan (yes I know). Although they said there were two months' areas, when there should only be one, so they're still not sure what's happening.

Second a rather bullish letter from Barclays explaining why they were immediately rejecting my bank charges claim, told me to go to the Ombudsman if I wasn't happy, and not to contact them again on the matter (kind of like them saying 'bring it on' followed by 'la la la we're not listening).

Third a letter from Barclays for more bank charges.

Still no sign of the paperwork for my new basic bank accounts - I may just withdraw the cash from Barclays and use that for now so they don't start off-setting.

speshfesh

tony_ack wrote: »

Postman wasn't so kind this morning.

First a letter from Halifax explaining to me that I had arrears on my loan (yes I know). Although they said there were two months' areas, when there should only be one, so they're still not sure what's happening.

Second a rather bullish letter from Halifax explaining why they were immediately rejecting my bank charges claim, told me to go to the Ombudsman if I wasn't happy, and not to contact them again on the matter (kind of like them saying 'bring it on' followed by 'la la la we're not listening).

Third a letter from Barclays for more bank charges.

Still no sign of the paperwork for my new basic bank accounts - I may just withdraw the cash from Barclays and use that for now so they don't start off-setting.

Hi Tony,

Don't worry about the letters:mad:, challenge them on it if you feel the need to and definitely get your cash out of there!;)

[Deleted User]

tony_ack wrote: »

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.................... 3I know that you have said that the third is a project car, but do you really need the 2 working cars - could either of you survive with public transport - not only could you sell and pay off a chunk of debt, but also you would save on tax, insurance, maintenance, MOT etc
Monthly Income Details
Monthly income after tax................ 1860Any way to increase? Overtime? Second job?
Partners monthly income after tax....... 700As above
Benefits................................ 100
Total monthly income.................... 2660

Monthly Expense Details
Mortgage................................ 378
Council tax............................. 98Is this paid over 10 or 12 months, if over ten then ask your council if you can spread over 12 - if they'll not allow, then remember to overpay your most expensive debts by this amount during your CT free months (although they're not coming around soon)
Electricity............................. 45Check that you are not in credit with the company (although this isn't high), if so, claim it back - turn things off instead of on standby, use energy saving bulbs, turn the thermostat down on the boiler, and turn off/down radiators in rooms that you are not in (when using heating), also every 6-12 months check with comparison sites to ensure that you are on the cheapest tariff for usage/area (often online and duel fuel paid by DD is cheapest). If switching is cheaper, check with cashback sites for further incentives (onepoll cashback, Quidco, topcashback etc)
Gas..................................... 45as above
Water rates............................. 0Is this included in your council tax?
Telephone (land line)................... 16
Mobile phone............................ 70This is VERY high and I think this can be cut down by about £50 - if you are in contract ask if you can downgrade a tariff - if you plead poverty some companies will allow this. If/When out of contract look at SIM only and PAYG deals - personally I have saved a fortune by using giffgaff - and you can keep your number, they have great Internet, text and call bundles
TV Licence.............................. 12.5
Satellite/Cable TV...................... 60I think that you need to cut this out until debt free - use freeview/freesat as alternatives - Saving a further £60
Internet Services....................... 10I think that you can get home phone and internet combined for approx £20-£25 inclusive of certain calls
Groceries etc. ......................... 400This you can definitely cut down - meal plan, batch cook, shop from a list and only buy what you need (stick to the list), drop brands, try lidl and aldi for your main shop and top up elsewhere - I think you can save approx £150 without too much troubleAlso try having a look at the "old style board" on here for assistance on getting the grocery shop down
Clothing................................ 30Stick with what you have for now, only buy for child and shop in charity shops and on e-bay - try clothes shopping with other parents with youngsters - reduce to £10, saving £20
Petrol/diesel........................... 300Is there any way to reduce this? car share? use public transport more often? combine journeys?
Road tax................................ 33
Car Insurance........................... 83
Car maintenance (including MOT)......... 20Is this saved somewhere for when it's needed
Car parking............................. 40
Personal Balance Sheet Summary
Total assets (things you own)........... 95,000
Total HP & Secured debt................. -89,000
Total Unsecured debt.................... -32,250
Net Assets.............................. -26,250
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

I have made some comments above on cutting down your spending - I think that you can reduce monthly spending listed here by approx £260 per month without too much trouble, saving more will reguire harsher cut backs.

If you are not able to get your budget to balance, try speaking with one of the debt free charities for the best option to take.

They will offer free and impartial advice,

HTH,

D9

tony_ack

Domino9 wrote: »

I have made some comments above on cutting down your spending - I think that you can reduce monthly spending listed here by approx £260 per month without too much trouble, saving more will reguire harsher cut backs.

If you are not able to get your budget to balance, try speaking with one of the debt free charities for the best option to take.

They will offer free and impartial advice,

HTH,

D9

Hi Domino,

Thanks for the feedback, though my SOA is quite a bit out of date now and I have made most of the savings already suggested. Sky is cut to basic package, project car gone, Giffgaff for mobile, £20 per week for shopping (live on my own now), don't buy clothes very often unless I have to!

Thinking of ditching Sky completely now TBH - Game of Thrones has now finished and that and the F1 were pretty much the only things left that I watched on there! If only the F1 was still on BBC...