James & Shells Debt Challenge With SOA

James&Shell

Please help us!!!!

We have a problem which we are trying to tackle .

We have the following debts.

Nationwide O/D £1600
Nationwide Visa £1300
Nationwide Loan £1800
Open & Direct loan £10000
HFC Loan £300
Dorothy Perkins £300
Argos Card £150
Wescot £140
Vodafone Old Contract £1800
ICS course £500
National Debt £50

Total Debt £17940

At the moment all of these debts are on 0% Intrest as we were with Payplan but we have no spare money to pay them.

Income

James Wages £864

This Pays for

Rent £510
Council Deposit Repayment £40
Old Council tax bill £8
House Insurance £26
Car Insurance £35
Washing machine cover £16
RAC £9
Water £35 To cover arrears
Sewage £35 To cover arrears
Electric & Gas £99 Includes areears
Tv Licence £21 for the next 6 months
BT £40

Total £874

Weekly Money

Child & Working Tax Credit £69.55
Family Allowance £17.45.

Weekly total £87.00


Food & House hold Inc Toiletrees& Nappies £40 p/w
Current Council Tax Bill £25 p/w
Petrol £10 p/w

Which leaves £12 per week *4 = £48 per month.

This doest include
Haircuts
Clothes

Please be as honest as you can be.

At the moment shell is looking for a part time jo but at the moment there is nothing in our area.

We have applied today for Housing Benifit according to Entiled-to it should be £45 p/w

How can we get throuh this ?

We want to pay off every penny we owe but how?


I look oward to hearing from you

Bakeybadoo

I'm rubbish with SoA since I'm a newbie myself but there will be lots of people along to help you and offer advice soon.

Well done for taking this step towards dealing with your debts.

immoral_angeluk

Right let's have a look see

Nationwide O/D £1600
Nationwide Visa £1300
Nationwide Loan £1800
Open & Direct loan £10000
HFC Loan £300
Dorothy Perkins £300
Argos Card £150
Wescot £140
Vodafone Old Contract £1800
ICS course £500
National Debt £50

Total Debt £17940

At the moment all of these debts are on 0% Intrest as we were with Payplan but we have no spare money to pay them. Have you told payplan this? If so what have they said? What has changed since before when you could pay them?

Income

James Wages £864

This Pays for

Rent £510
Council Deposit Repayment £40
Old Council tax bill £8
House Insurance £26 Check if you can get cheaper than this.
Car Insurance £35 Same as house insurance.
Washing machine cover £16 Do you really need this as most of the time it'd be covered by your house insurance. Personally I'd cancel.
RAC £9 I take it's paid once a year? How old is your car and how often have you used the RAc?
Water £35 To cover arrears
Sewage £35 To cover arrears
Electric & Gas £99 Includes areears
Tv Licence £21 for the next 6 months
BT £40 If this is phone and internet you can definately get cheaper elsewhere!!!

Total £874

Weekly Money

Child & Working Tax Credit £69.55
Family Allowance £17.45.

Weekly total £87.00


Food & House hold Inc Toiletrees& Nappies £40 p/w for how many people?
Current Council Tax Bill £25 p/w
Petrol £10 p/w Would it be cheaper to get the bus or train and buy a weekly ticket?

Which leaves £12 per week *4 = £48 per month.

This doest include
Haircuts
Clothes or MOT, or birthdays/christmas, or work meals, treats or nights out etc.
Please be as honest as you can be. Will do

At the moment shell is looking for a part time jo but at the moment there is nothing in our area. Tell her to stop being picky. you need money now. Even a bar job in the evenings will bring in extra money.

We have applied today for Housing Benifit according to Entiled-to it should be £45 p/w how long since you applied. Chase it up! Will they backdate?

How can we get throuh this ? Perseverance and cutting down costs.

We want to pay off every penny we owe but how? One step at a time. They may be baby steps at first but you will get there in the end.

bandraoi

Your income is low.
Is there anyway you have of increasing your income?
New job, second job, more hours?

Are you sure you're claiming everything you're entitled to?

James&Shell

HI Thanks Immoral for the replies,

I will cancel the Rac & Washing Machine cover and that frees £25 A month.

The Loss of money ie Payplan relates to having to move house as the previous landlord wanted to sell up and the cheapest place that we could find was £70per month more as places around her had shot up in the last 18 months.

Shell has been trying very hard n to looking for work but the only hurdle that we have come accross is that if she does the extra money he will earn will be taken in by the taxcredits and the extra child care costs for Lewis.

The house and car insurance are the cheapet that i could get but i did go through quidco and i got £60 for the house and £100 for the Car .

The food budget is for 2 adults and one fussy 18month old.

The £40 per week includes all toiletrees and nappies aswell as cleaning stuff and food

James&Shell

bandraoi wrote:

Your income is low.
Is there anyway you have of increasing your income?
New job, second job, more hours?

Are you sure you're claiming everything you're entitled to?

I work for my dad we have a internet bussiness that sells workwear etc im on £13k a year which is good for around here.

I should get a annual payrise in august.

As i mentioned in my previuos post a second job means losing on taxcredit so whe or i would have to work ridiculas amounts hours to break even

James&Shell

Update i have cancelled the Direct debits for

RAC Saving £9 per Month
Washing Machine Protection £16 per month

Saving £25 Per Month with out even trying

livinginhope

Hi james&shell
Well done for asking for help,the first thing that jumps out is the house insurance,that is well over the top,you are in rented,so only need contents cover,we pay the same amount as you for buildings and contents and that is after a massive £276k insurance claim.
On the job front,could shell not get a job at one of the holiday camps near you? they had or are this week having a big open day at the job centre to recruit staff for the upcoming season,even caravan cleaning on a Sat morning pays £50,sometimes cash in hand
I know what you mean about the rent increases recently,they have gone through the roof,just like the house prices.
Glad you have cancelled the policies that are not needed.
Not much else to add at the moment,be back after lunch
LIH

James&Shell

HI LIvinginhope,

Will look again in to getting a cheaper deal on the contens insurance.

Shel has handed in her applications to all the holiday parks around here so hopefully someone will et back to her .

James&Shell

Just went on the Virgin Money website and the contents cover would only be £19 per month.

I have changed that as of tomorrow and thats another £7 on to the debt fund.

I will ring Direct Line to cancel tonight.

Total Saved today £32 per month

James&Shell

Just went on the Virgin Money website and the contents cover would only be £19 per month.

I have changed that as of tomorrow and thats another £7 on to the debt fund.

I will ring Direct Line to cancel tonight.

Total Saved today £32 per month