Where to start...

Browneyedgirl84

Evening All... i've been a long time lurker(same old story i guess), but ive been burying my head in the sand for too long, and now ive finally hit a wall.
Due to personal reasons, over the last few years ive managed to get myself into a messy situation re Pay day loans (when i think of the money ive paid into those damned things), catalogues and my CC.
Im at a point now where i have no money at the end of the month, and i literally cant cope anymore.
I feel sick all the time, miserable, cant sleep... just basically cant function.

I've attached my SOA. Today i've made a positive step in trying to get myself out of this mess..and to make sure i have enough money each month to try and have a life... at 28 i never wanted or imagined i'd find myself in this horrible situation- and all attempts to salvage my credit rating have been lost. So now i need to be more realistic, and stop robbing peter to pay paul.

I have contacted Shop Direct (the total below is 2 accounts) and i have asked if they will allow me to freeze any interest and charges, and to let me pay the balance over 3 years. Meaning my outgoings from that debt will be about £200 per month.

I will be contacting Vanquis in the morning also to ask about making reduced payments. Can i reclaim my RPO? theyve charged me over 1k for it...i dont even know what the flip it is...:o

The two PDLs - Wonga- this is over 12 months, so £100 per month. my other is £400 over 3 months- which i cant afford. Do you think i should negotiate a payment plan with them? I did contact them before the loan defaults at the end of this month, and they set me up on the 3 month Repayment plan, just not sure i can meet that...

Please feel free to call me stupid... ive called myself worse over the past few years... time to start facing it head on... here goes nothing!!


Statement of Affairs & Personal Balance Sheet

Summary

Monthly Budget Summary Amount(£)
Total monthly income 1,589
Monthly expenses (incl. HP & secured loans) 610.7
Available for debt repayments 978.3
UNsecured debt repayments 1,116
Amount short for making debt repayments -137.7
Personal Balance Sheet Summary Amount(£)
Total Assets (things you own) 0
Total Secured & HP Debt -0
Total Unsecured Debt -13,580
Net Assets -13,580
Household Information

Number of adults in household 3
Number of children in household
Number of cars owned
Income, Expense, Debt & Asset Details

Income Amount(£)
Monthly income after tax 1589
Partners monthly income 0
Benefits 0
Other income 0
Total monthly income 1589
Expenses Amount(£)
Mortgage 0
Secured/HP loan payments 0
Rent 350
Management charge (leasehold property) 0
Council tax 0
Electricity 0
Gas 0
Oil 0
Water Rates 0
Telephone (land line) 0
Mobile phone 45
TV Licence 0
Satellite/Cable TV 0
Internet services 0
Groceries etc. 80
Clothing 10
Petrol/diesel 0
Road tax 0
Car Insurance 0
Car maintenance (including MOT) 0
Car Parking 0
Other travel 0
Childcare/nursery 0
Other child related expenses 0
Medical (prescriptions, dentists, opticians etc.) 15.7
Pet Insurance/Vet bills 0
Buildings Insurance 0
Contents Insurance 0
Life Assurance 0
Other Insurance 0
Presents (birthday, christmas etc.) 50
Haircuts 30
Entertainment 30
Holiday 0
Emergency Fund 0
Total monthly expenses 610.7
Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
Mortgage 0 (0) 0
Secured & HP Debt totals 0 - -
Unsecured Debt Description Debt(£) Monthly(£) APR(%)
Vanquis 2000 110 39
Shop Direct 9000 500 0
Capital One 180 6 29
Pay Day Express 1200 400 0
Wonga 1200 100 0
Unsecured Debt totals 13580 1116 -
Asset Description Value (£)
Cash 0
House Value (Gross) 0
Shares and bonds 0
Car(s) 0
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 0

sistafromanothermista

Hi and welcome :beer:

At least you've had your LBM (light bulb moment) so you're on the right track!!!!

Browneyedgirl84

Thank you honey!! love the username! haha x:T

sistafromanothermista

I was thinking of brother from another mother (as my son calls his cousin) :rotfl:

Am i reading you SOA correctly that you pay out over 1k per month on your debts?

Max_b_2

you pay £45 for your mobile - ring the provider and tell them you want to cancel. once you are speaking to the cancellation team they should be able to put you on a deal much cheaper than that. if its with virgin really push as they can more than half that (I worked there for 5 years I should know)