After a Little help/advice.....

cptncrackoff

Hi all,

Can I just give a quick overview of my situation, at the very least it may help me by sharing....

I currently owe..
Virgin c/card - 0% til aug 2013 - £4300
Natwest c/card - 0% til aug 2012 - £2400
Natwest Overdraft - costing £28 per month int. - £2500
Tesco c/card - costing £3 per month int - £280
Argos card - costing £12 per month - £320 pounds

I think I need to take some steps quickly to transfer the natwest credit card, I also feel my overdraft is a priority.
One option is to take out another virgin card, move as much of the overdraft and the natwest card across.

My monthly incomings are now 1875 and outgoings (including food petrol bills etc etc) is 1479.

If anyone can suggest anything that might help me move forward I would be very grateful!

sistafromanothermista

:wave: Welcome to the board. If you post your complete SOA (statement of affairs) it would help, you'll find it on the sticky at the top.....

cptncrackoff

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 0
Benefits................................ 677.45
Other income............................ 0
Total monthly income.................... 1877.45
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 650
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 35
Gas..................................... 39
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 22
Mobile phone............................ 15
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 410
Clothing................................ 30
Petrol/diesel........................... 110
Road tax................................ 18
Car Insurance........................... 35
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 10
Emergency fund.......................... 0
Total monthly expenses.................. 1553.12

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
virgin card....................4291.67...43........0
Natwest........................2400......28........0
ARGOS CARD.....................320.......13........29
OVERDRAFT......................2500......0.........12
TESCO CREDIT CARD..............280.......18........26.6
Total unsecured debts..........9791.67...102.......-

Monthly Budget Summary
Total monthly income.................... 1,877.45
Expenses (including HP & secured debts). 1,553.12
Available for debt repayments........... 324.33
Monthly UNsecured debt repayments....... 102
Amount left after debt repayments....... 222.33
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -9,791.67
Net Assets.............................. -9,791.67
Created using the SOA calculator at
Reproduced on Moneysavingexpert with permission, using IE browser.

cptncrackoff

Hi!
i think ive done that as accuratly as i can for now.
My problem isnt really surviving on a monthly basis, its trying to prioritise the debts and reduce them as fast as possible in the most affective way.

sistafromanothermista

Could your partner get a job?

cptncrackoff

Not really, she did work part time, but it worked out that she was working for nothing with the costs of childcare, as well as that shes 26 weeks pregnant and ill.

If she did work full time, we'd lose most of the benefits, as well as paying childcare costs, wouldnt really work, when the youngest (next one) is at school, she'll return to (pretty much)full time work.