Starting afresh and finding the light

Squidge123

Ok so I did have a diary but I've kind of given up on it. I have now decided that I need to get back into the swing of things and find the light at the end of the tunnel.

Just a bit of an update. My debt has increased a lot since I started posting on here. I am ashamed to admit that I have been caught in the cycle of pay day loans and I think that now is the time to get off my behind and get something done about it.

I have moved in with my OH and unfortunately at the moment due to health reasons I am the only provider. He will be back at work as soon as possible.
Things also aren't helped by the fact that my hours have been cut down at work and I have also been off sick. I'm now working 33.5 hours a week instead of the 45-50 I was working before so I'm looking into ways to make some extra money.

Am I entitled to any kind of benefits?

I'm adding an SOA on here. I will add some commentary to it so that it explains a few things. I'm then also going to add my aims for now.

My SOA doesn't include loans from my family because I couldn't find out where to put that.

In regards to the PDLs - I have a few. I contacted one who has reduced the monthly payments by half. I will be contacting the rest to ask them to stop payments so that my advisor from my local advice point can help me work some things out.

SOA following

Squidge123

Statement of Affairs and PersonalBalance Sheet

Household Information

Number of adults in household........... 2 (we're in a room in a shared house but the other housemates don't affect our income etc)
Number of children in household......... 0
Number of cars owned.................... 1 (this is mine and my only way to get to and from work)

Monthly Income Details

Monthly income after tax................ 850
Partners monthly income after tax....... 0 (as said previously he is currently off work for health reasons. Work stuffed up on some paperwork so we haven't been able to claim any benefits for him)

Benefits................................ 0
Other income............................ 0

Total monthly income.................... 850

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400 (its really £332 a month but we're currently in arrears and are making this up monthly)
Management charge (leasehold property).. 0
Council tax............................. 0 (we're in a shared house so everything is included - electric, internet, water, landline, tv licence etc)
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 45 (I looked into downgrading this but apparently I'm on the lowest one. Think I need to talk to someone)
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100 (I did a two week shop for £88 for two of us. We still have some food leftover but I know I'm not going to be that lucky every payday so this is what I'm budgeting at the moment. I've meal planned and went with a shopping list)
Clothing................................ 0 (I don't really buy any clothes. I don't see how I can buy myself anything when I don't have any money spare)
Petrol/diesel........................... 80 (£20 a week lasts me well unless I have anywhere far to go)
Road tax................................ 71 (every 6 months. I want to save up and buy the year because my MOT and tax comes in at the same time)
Car Insurance........................... 78 (monthly)
Car maintenance (including MOT)......... 0 (I need to start saving some money for my car)
Car parking............................. 0 (parking is free where I work and I can walk into the town centre)
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 (again I know I need to start budgeting for this. It always catches me out because I'm so unprepared)
Haircuts................................ 0 (can't remember the last time I had my hair cut but I want to start budgeting for this as well)
Entertainment........................... 0 (I have a lot of books and don't really buy myself anything)
Holiday................................. 0 (I won't be going on one for a while)
Emergency fund.......................... 0 (Again I need to start one)

Total monthly expenses.................. 774

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0

Total Assets............................ 1000

No Secured nor Hire Purchase Debts
Unsecured Debts

Description....................Debt......Monthly...APR
Credit Card....................3800......175.......29
Overdraft......................980.......0.........0
Payday Loan 1..................350.......0.........0
Loan...........................880.......75........0
Loan...........................1020......44........0
Payday Loan 2..................78........0.........0
Payday Loan 3..................117.......0.........0
Payday Loan 4..................326.......0.........0

Total unsecured debts..........7551......294.......-

Monthly Budget Summary

Total monthly income.................... 850
Expenses (including HP & secured debts). 774
Available for debt repayments........... 76 (I don't know where this goes but there's nothing available at the end of the month)

Monthly UNsecured debt repayments....... 294
Amount short for making debt repayments. -218


Personal Balance Sheet Summary

Total assets (things you own)........... 1,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,551
Net Assets.............................. -6,551



Created using the SOA calculator atwww.makesenseofcards.com.

Reproduced on Moneysavingexpert with permission, using IEbrowser.

Squidge123

So this is the total of my debt including from family members

Family 1 £1,360 Card £3,800 Santander £980 Family 2 £40 PDL £350 PDL £326 Loan £1,020 PDL £117 PDL £79 Loan £880 Family Member £40 £8,992

Squidge123

So today was technically an NSD - I had to refund a book that someone bought me that I already have. I had this refunded onto a gift card so that I could get some groceries.

Yesterday was an NSD too

I've also cancelled my netflix free trial as I'm not impressed so they won't be able to take any money from me and I've also sent off to enquire about becoming a Body Shop consultant to bring in some extra money to go towards paying off the debts.

Squidge123

Today will be an NSD and a no using petrol day. Partly because I have no money and I have no petrol. It's a nice sunny day so I'll be walking to work and taking my own lunch with me.

clippy_girl

hi squidge!

as a priority i think your bf needs to try and get his work to sort out the paperwork. obv dont know the circs but if hes employed wasnt he entitled to sick pay? thought there was some statutory sick pay? worth looking into as even of hes better and going back, work shouldnt be able to get out of paying him it if it was their fault. i dont know much about it but if someone can advise you whether hes entitled and if it can be back dated (maybe on the benefits forum)? hopefully he could get it in a lump sum and could go towards a PDL (even if they are your debts you have supported him so only fair )

have you thought about mystery shopping to try and bring in some extra cash? or if your bf is not employed atm but is looking for a job (and well enough) perhaps he could do some?

good luck

brizzledfw

Hi Squidge

Didn't want to post and run so well done for doing an SOA. Very brave. Good to be acknowledging where you are.

Echo Clippy..you need to ask for some advice re benefits. There should be at least SSP or other related housing benefits you can claim to tide you over..

I am madly ebaying at moment..if it aint nailed down its going!! You'd be surprised what can go. Give it some thought!!

best of luck hon

Brizzle

Squidge123

Unfortunately he's out of SSP because of the amount of time he's had off sick. His time off has literally been unpaid hence the reason why my debt has spiralled even more.

I'm looking into all sorts of things at the moment to help up out. I've registered to hopefully be invited for shop and scan, I can look at mystery shopping now that my hours have been cut and I'm looking at another job that pays more.

It all really is a bit of a nightmare!

ETA: I've registered for mystery shopping. I also registered for a new job but I gotta pay out for a CRB check

Squidge123

Does anyone know where I can get a copy of the book about living on £1 a day?

Hovel_lady

Squidge123 wrote: »

Does anyone know where I can get a copy of the book about living on £1 a day?

Have you tried your local library? They might be able to order it from another library if they don't have a copy.
Amaz*n have copies from £4.89. There are also some on eb*y.
HTH

Squidge123

I'm not entirely sure what it's called lol!