Advice

rachel52

Have I done things right,

Because of my overdraft I am struggling paying most of my bills while trying clear off my overdraff, by stopping with the same bank that most of my debt is with I done seem to be clearing it.

I have now opened a new bank account to have my monthly wage put into, even if I did this I will still struggle to pay some of my bills. I have cancelled all the direct debits and hoping that I can just pay what I can afford.

Is this the best sensible thing to do?

Thanks

rachel52

Ps here is most of the details


Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Total monthly income.................... 1008

Monthly Expense Details
Rent.................................... 200
Mobile phone............................ 29
Satellite/Cable TV...................... 21
Petrol/diesel........................... 108
Car Insurance........................... 62
Other travel............................ 74
Total monthly expenses.................. 494

Assets
Car(s).................................. 4000
Total Assets............................ 4000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card ...................2433.33...74........16.9
Credit Card....................913.24....37........16.8
Credit Card....................2469.73...74........16.9
Loan...........................7000......210.......0
Overdraft......................800.......0.........0
Total unsecured debts..........13616.3...395.......

Monthly Budget Summary
Total monthly income.................... 1,008
Expenses (including HP & secured debts). 494
Available for debt repayments........... 514
Monthly UNsecured debt repayments....... 395
Amount left after debt repayments....... 119

Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -13,616.3
Net Assets.............................. -9,616.3

dark^knight

Hi,

You have not included your variable costs like groceries, clothes etc. Any reason for this?

^dk^

rachel52

The reason is we split the bills but because I took out a loan for us the other person took on all the main bills, as for clothes shopping I can't afford to buy new clothes I haven't done for 8 months I wouldn't be in this situation if I didn't have time off work sick.