Time for action - so scared

DorsetGirl_2

WantToBeFree wrote: »

I have done my SOA, any advice on this would be much appreciated:o

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 1645
Other income............................ 350
Total monthly income.................... 1995
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 145 Does this include single person discount?
Electricity............................. 30
Gas..................................... 20
Oil..................................... 0
Water rates............................. 13
Telephone (land line)................... 40
Mobile phone............................ 23
TV Licence.............................. 13
Satellite/Cable TV...................... 19
Internet Services....................... 0
Groceries etc. ......................... 450 This is really high - try going to the old style boards and having a look at some of their tips on how to decrease this as its huge for 1 adult and 2 children
Clothing................................ 45 Try and cut this - look on ebay/charity shops etc.
Petrol/diesel........................... 140
Road tax................................ 24
Car Insurance........................... 48
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 20 Can you use a student to cut your hair, or go longer between cuts?
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 40
Total monthly expenses.................. 1970

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
total..........................18500.....300.......0
council tax....................700.......350.......0
Total unsecured debts..........19200.....650.......-

Monthly Budget Summary
Total monthly income.................... 1,995
Expenses (including HP & secured debts). 1,970
Available for debt repayments........... 25
Monthly UNsecured debt repayments....... 650
Amount short for making debt repayments. -625
Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -19,200
Net Assets.............................. -17,200

The debt is a combinatin of credit cards, loans and overdrafts.
Thank you!

There are some suggestions - have you spoken to your lenders to tell them about your circumstances?

WantToBeFree

My car isnt very fuel efficient although only a Zafira, and I explained my travelling in an earlier post.

Sky - fine, I can get rid.
Phone, it is a combined land line and broadband fee, cant recall the exact breakdown but the cost is for both.
Mobile, I am locked into a contract with Orang for another 12 months, have looked into getting out of it, can I simply cancel the DD payments and put the fees into part of the BR?
Gifts - ~I tallyed up what I spent on Xmas and birthdays and divided by 12. This can and will now be reduced.
Groceries, yup that can be reduced.

According to the CCCS website on my current income it would take me over 17 years to clear my debts.

DorsetGirl_2

Esoog wrote: »

Dorset; I'm not making personal judgements, just statements.

There is a board designed for that kind of statement, its called Discussion Time, not on this thread where the OP is asking for help.

Wally85

WantToBeFree wrote: »

My car isnt very fuel efficient although only a Zafira, and I explained my travelling in an earlier post.

Sky - fine, I can get rid.
Phone, it is a combined land line and broadband fee, cant recall the exact breakdown but the cost is for both.
Mobile, I am locked into a contract with Orang for another 12 months, have looked into getting out of it, can I simply cancel the DD payments and put the fees into part of the BR?
Gifts - ~I tallyed up what I spent on Xmas and birthdays and divided by 12. This can and will now be reduced.
Groceries, yup that can be reduced.

According to the CCCS website on my current income it would take me over 17 years to clear my debts.

Apologies missed the part on the travelling.

WantToBeFree

My council tax does include single person discount, its high because 6 months ago I moved into 4 bedroom house, I have 2 girls aged 10 and 19, and a boy aged 7. At the time I could easily afford this.

Unfortunately within a month of moving in my eldest decided to leave and get her own flat, I was still within the first 6 months of my tenancy so couldnt do anything about it, now I am desperate to find somewhere smaller but cant afford to save up the depost/rent in advance/fees. I feel like I'm in a catch 22 with the house.

Any positive advice on this would be hugely helpful

Longships

Contact the CCCS anyway - they are helpful and even though it may say it will take 17 years it doesn't need to. Plus you will get advice/help to contact your creditors so you won't need to be afraid to answer the door or the phone any more.

Also post your SOA on the Debt Free Wannabe thread - as you're not bankrupt yet you will more likely get help there.

You just need to take your courage in both hands and take control. Good Luck x

Esoog

Dorsetgirl;

If you feel it’s important to point something out that the poster may find negative but needs to understand, then it's not a problem, but do think carefully about your phrasing

; your income is good - I don't know why I bother working when people can get loads of money by not working. I'm pointing something out that the poster may find negative but needs to understand.


wanttobefree; perhaps DFW is a better place for you?
Is there any chance of getting a 0% card to try and ease the c/c's a bit? If you had a good income before then your credit score should be ok? Unless the debts are as a result of being made redundant.

Prescription/dental; are you not exempt from fees as a result of being unemployed/on benefits?

mcfisco

That car is costing you ~£3k /year
Can you not look at other ways to get the kids to school etc. bus? 5 miles is not a bad walk in the summertime or cycle perhaps?

The grocery bill needs halving, ours for 5 is just over £200

WantToBeFree

OK, my debts are as a result from being married to a contolling, alcoholic, bully for 12 years. I was given very little housekeeping from him and for many years was a stay at home mum, at his insistance, and incurred debt in order to buy food, clothing, school trips etc, all while he was driving round in 25k cars and spending goodness knows what on alcohol every day. All of this was stated in my divorce yet due to some clever accounting on his part I have managed to come out of the marriage with absolutely nothing, no settlement, he has our house and all its contents (was rented) and I have the debt as it was in my name.

When I finally built up the courage to take my children and leave I was initially on benefits and defaulted on all my repayments, this was just over 2 years ago. I luckily found a full time job and began repaying certain of the debts back, as I said 2 of which have now been fully cleared, but was stupidly too scared to contact the rest as they didnt know where I was living as therefore could 'pretend' I didnt have to worry about them. Theyve all pretty much caught up with me now and this is where I am today.

WantToBeFree

mcfisco wrote: »

That car is costing you ~£3k /year
Can you not look at other ways to get the kids to school etc. bus? 5 miles is not a bad walk in the summertime or cycle perhaps?

Walking 5 miles down country roads with fast cars and no pavements, not an option. And I still have to drive them to see their father every fortnight, cant walk down a motorway