Ive done our SOA!!

emma1981_2

Continued from.. New to this site and in bad debt.....

Here Goes:

Dp's Wage £2,100.00
Child Benefit £165.00
Tax Credits £80.00

Total Income £2,345.00


BISL BACS ACCOUNT £37.76!!(Car Insurance)
CIREN FRIENDLY SOC £36.10!!
DGS/RPP DD £4.40!!
EMAP CONSUMER MAGS £16.00!!(FHM Mag for DP)
FRNDS PROV UK DD £5.76!!
HALIFAX PLC £601.62!!
HALIFAX PLC £253.75!!(Loan)
NORWICH UNION £17.73!!
PAYMENTSHIELD £22.03!!
PAYMENTSHIELD £50.33!!
PCWORLD 3006513009 £2.00!!
ROYAL LIVER ASSURA £25.00!!(Childrens trust fund)
SKY DIGITAL £39.47!!(Inc Internet)
TV LICENCE QBP1 £34.14!!(Every 3 months)
UNAT DIRECT AIU NA £11.45!!
UNITED UTIL PLC £17.62!!
UTILITY WAREHOUSE £263.03!!(Gas, Elec and Phone)
SHOPPING £350.00
COUNCIL TAX £111.00
Dp's ACCESSORIES £20.00
MY ACCESSORIES £20.00

TOTAL £1,939.19
Total Left £405.81

Now these are since we have cut down alot. I know it looks like there is alot of money left over at the end of the month but for some reason we never see it. Seeing it down on here like this is making me really wonder where its all going!!

I can't expect Dp to pay any of my debt but if I can save us some money on bills then Im sure what I save he will let me pay the difference off the debt iygwim!! So if there are any more ideas for saving money let me know pleeaaasssseeeee!!

Ive called payplan and they are sending me out the forms so I can write to all my creditors. I feel miles better getting it all down on here. Im going to write a debt diary starting from tonight once Ive got everything on ebay and called Yes credit to get my £50 back.

Emma

hypno06

Hi, have you tried putting your debt details into the snowball calculator to see if that is an option for you as an alternative to payplan etc?

https://www.whatsthecost.com - you may find that you can snowball effectively and get rid of your debts without shooting your credit record to pieces.

It will also give you your much desired "debt free date" so that you can see the light at the end of the tunnel.

And I agree, get writing everything down, it really is an eye opener.

Good luck.

dancingfairy

Dp's Wage £2,100.00
Child Benefit £165.00
Tax Credits £80.00

Total Income £2,345.00

Outgoings
BISL BACS ACCOUNT £37.76!!(Car Insurance)
EMAP CONSUMER MAGS £16.00!!(FHM Mag for DP)
FRNDS PROV UK DD £5.76!!
ROYAL LIVER ASSURA £25.00!!(Childrens trust fund)
SKY DIGITAL £39.47!!(Inc Internet)
UTILITY WAREHOUSE £263.03!!(Gas, Elec and Phone)
TV LICENCE QBP1 £34.14!!(Every 3 months)
SHOPPING £350.00
COUNCIL TAX £111.00
UNITED UTIL PLC £17.62!!

Debt Repayments
CIREN FRIENDLY SOC £36.10!!
DGS/RPP DD £4.40!!
HALIFAX PLC £601.62!!
HALIFAX PLC £253.75!!(Loan)
NORWICH UNION £17.73!!
PAYMENTSHIELD £22.03!!
PAYMENTSHIELD £50.33!!
PCWORLD 3006513009 £2.00!!
UNAT DIRECT AIU NA £11.45!!
Dp's ACCESSORIES £20.00
MY ACCESSORIES £20.00

TOTAL £1,939.19
Total Left £405.81

I've rearranged it to make things a bit clearer to see what's what.

dancingfairy

Outgoings
BISL BACS ACCOUNT £37.76!!(Car Insurance) Can you get this cheaper?
EMAP CONSUMER MAGS £16.00!!(FHM Mag for DP)
FRNDS PROV UK DD £5.76!! What's this for? Is it necessary?
ROYAL LIVER ASSURA £25.00!!(Childrens trust fund) Is this crucial - can you cancel it until you're back on your feet financially?
SKY DIGITAL £39.47!!(Inc Internet) Can you get a better deal -cancel any unwatched sky packages?
UTILITY WAREHOUSE £263.03!! (Gas, Elec and Phone) Oh My Gosh is this monthly? :eek: - can you split this down for us
TV LICENCE QBP1 £34.14!!(Every 3 months) can you put this in monthly for us?
SHOPPING £350.00For how many? - this seems like an awful lot- go over to the moneysaving oldstyle on how to cook good cheap meals
COUNCIL TAX £111.00 monthly?
UNITED UTIL PLC £17.62!! What's this for?

Debt Repayments
CIREN FRIENDLY SOC £36.10!!Is this a debt? or a savings scheme?
DGS/RPP DD £4.40!! Debt?
HALIFAX PLC £601.62!! Is this for a loan?
HALIFAX PLC £253.75!!(Loan)
NORWICH UNION £17.73!!
PAYMENTSHIELD £22.03!! what for? why have you 2?
PAYMENTSHIELD £50.33!!
PCWORLD 3006513009 £2.00!!
UNAT DIRECT AIU NA £11.45!! What's this- a store card?
Dp's ACCESSORIES £20.00
MY ACCESSORIES £20.00

I have highlighted my comments next to each item - please don't take it the wrong way - just places you might be able to cut down
Can you also list the amount you owe to each creditor/card and the apr and whether you are paying the minimum payments or not.
As to where all that 'spare' money goes - keep a spending diary - this should help you to identify that.

bobbadog

The Emap mags subscription, presume that's not per month?!?! x

CLAPTON

i'm afraid i don't understand half your entries...are they debt payments, saving, insurance or what?

it would be better to rewrite the statement


list each item of spending excluding debt payments and say what each means unless obvious (so Norwich Union 17.73 could mean many things)

then list the debts and say for each debt how much, how much are you paying monthly and the APR

start to keep a spending diary and write down every thing you spend and so find out where all that 'spare' money goes

you mention car insurance but not car tax, servicing, petrol etc ..can you explain what OH pays for too.

emma1981_2

Hi I think there has been a mix up here lol

All the stuff I put down on the original post where our outgoings nothing on there was debt apart from the loan but this has to stay the same until next year when we re mortgage! Not sure why it was re arranged as it was correct!

All my debts are at the bottom on my signature! These are the things I want to clear!

Hope this is clearer lol

Emma

ifstar

I think dancing fairy re-arranged them to make it easier to read as your original list didn't look very clear.

I know you have said that it's the figures in your signature that you want to clear but it's very difficult to see how they fit in your SOA.

Your SOA needs to be a complete list of every incoming and outgoing on a monthly basis and should also show the amount each of your debts want to take each month.

The way to help you reduce your debts is by cutting out a lot of unnecessary spending on your monthly bills, so even though you say they aren't a problem, it's from these that you will probably make savings and you can put these savings onto paying off your debts.

There are a lot of things on your SOA that don't really mean much to anyone else apart from you - like 2 paymentshield payments or some of the other direct debits.

black-saturn

The Friends Provident is a Provvy loan. They can be anything up to 170% mark up on interest!!!

Your food bill seems rather high. How many people is it for?

If you don't know where the £450 left over money goes every month it might be beneficial for you to do a spending diary. Write down everything you spend like every stamp, choccy bar etc etc. You'll be amazed at how much you spend on pointless things.

pk2007_2

hi emma
clapton is right. if you put your entries under monthly expenses and include things like car mot/petrol/birthdays/christmas etc it will be better. i have found the budget planner is a good way to remember all the one-offs that we don't account for usually.
if you can write the debts as you have listed in your signature but with other info like this it will be helpful

debt payment per month amount outstanding apr

good luck!

Sunshineindoors

Could someone tell me what this Unat Direct Aiu Na is? because I get it on my bank statement?

Thank you.