Newbie alert! A bit of advice needed...

edgex

pencakes26 wrote: »

As promised, my SOA....I haven't entered bills because they are included in the £525 rent.

Statement of Affairs and Personal Balance Sheet



Monthly Income Details
Monthly income after tax................ 1811
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1811

Monthly Expense Details

Mobile phone............................ 40
Groceries etc. ......................... 190
Clothing................................ 60
Other travel............................ 45
Presents (birthday, christmas etc)...... 40
Haircuts................................ 20
Entertainment........................... 50
Emergency fund.......................... 0

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 140......(10).......19
Total secured & HP debts...... 140.......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Vanquis cc.....................1502......73........39.9
Capital One cc.................668.85....27........30.3
Barclaycard cc.................758.46....24.21.....29.9
Wage repayment.................4994......250.......0
Lloyds TSB cc..................1170......30........11.9
Lloyds TSB loan 2..............1422.38...198.......9.8
Lloyds TSB loan 1..............766.85....91........19
Total unsecured debts..........11282.54..693.21....-


Monthly Budget Summary
Total monthly income.................... 1,811
Expenses (including HP & secured debts). 1,006
Available for debt repayments........... 805
Monthly UNsecured debt repayments....... 693.21
Amount left after debt repayments....... 111.79

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -140
Total Unsecured debt.................... -11,282.54
Net Assets.............................. -11,422.54

Clothing to zero
Presents to 20
Entertainment to 30
Groceries to 150
Mobile phone to 30 (if possible)

That gives you £150 extra per month

thats enough to pay off the HP debt in one month, thats one less payment going out

that then gives you £160 per month to pay against other debts