I'm an idiot

Toomuchdebt

deleted sorry

Toomuchdebt

Actually I know where part of the money goes-I do pay more than the minimum on each debt-should I put in what I actually pay rather than the minimum?

I checked and put in the actual amounts and was left with 244 left over...I wish I knew where this money went to....as I certainly don't have it left in my account.

HappyMJ

I would put more down for holidays. Normally you would put £20 per person per month aside for a 1 week holiday each year which all creditors agree with. You have put school trip as a debt when it should be budgeted for and put under holiday.

Due to your previous arrears with Southern Electric I would increase your direct debit to your current supplier so you do not get into arrears this winter.

The £15 for landline is good but I would with 6 children expect you to have unlimited anytime free calls to landlines added on so that costs about £5 and therefore cost you £20 per month. That will reduce usage of the mobiles.

I would also put at least £10 per person per month for clothes. Creditors will agree with £20 per person if you needed to increase it a little further.

It says you have £322 per month spare so you need to find where it's going.

As you are mostly living off benefits you can reduce your debt repayments to very little.

Edited to add : Put the minimum repayments down then add another entry on the above bit

Overpayments - £XXX <- the amount that you overpay.

Toomuchdebt

We don't usually go on holiday so this was a rough guess

I get weekend calls for free on the landline but nobody uses it really.My eldest's boyfriend is on giffgaff so calls are free, the next one down doesn't call, she texts and texts are unlimited.I also text more than I call.

The arrears with SE aren't due to normal usage but due to the fact that my landlord didn't get my boiler fixed for 9 months-every time I ran the hot tap it would heat the entire house as there was a little valve that was broken, so it would be like having the heating on a lot more than normal, also the temperature of the water would then take ages to heat up so it would be on for longer.That caused all the extra debt on there.

The landline is part of an internet package-but I am paying too much-it's 40 for internet and phone with free tv,but I have seen similar packages for half price (virgin media) so I am ringing them tomorrow.

I suspect the money that should be there and isn't is because of clothes(I have never budgeted for this, just bought as and when),school stuff(oh the trip is down as a debt as she has already been on it and I owe them 60 still),music which I still need to pay 60 on-they won't be doing it next year,my eldest's drama which was almost 100 this term.All these I didn't budget for,as well as household items such as a toaster,ebay purchases-I suspect this is a biggy...too scared to add it all up...suffice it to say I will be keeping a spending diary from tomorrow

Fae

Hi,

I think a spending diary is a great idea, you'll soon be able to work out where the extra goes.
One thought for you, do you need extra insurance for the mobile phones and laptops, some household insurance polices do provide cover, it could be worth a quick call to find out, and if your policy doesn't cover them asking if they can provide cover, mine are covered under a extra personal belongings cover, it's cheaper than seperate insurance.:D

Fae

[Deleted User]

I think that you should pay the minimum towards all your debts, and any extra that you have towards the Vanquis debt only until this is fully repaid, this way you will save a fortune in interest payments as the interest that you are paying on this debt is VERY high.

If you don't have the £322.5 left at the end of the month (or you cannot account for it through the overpayments that you are making) then, keep a spending diary for a few months.

Do you actually save the amounts in your SOA for non monthly bills elsewhere for when they are needed (clothes/haircut/holiday).

I think that you can cut the grocery bill down as at the moment this amount is for 6 kids (not including you - as you're diet is separate at £112/month).

Meal plan, batch cook, shop from a list, use offers deals, check the reduced shelves, drop brands, and take a look over on the old style board on this forum for more hints, tips, and advice on reducing this.

Also, if you're not already a member join some of the survey sites and save up the vouchers to help out with birthdays and Xmas's (eg YouGov, Toluna etc) - this is never going to be a quick fix, or bring you in lots of cah/vouchers - but it can help reduce the cost of these things at Xmas/bDays.

HTH,

D9

Toomuchdebt

Thanks all-2 small updates-I rang vanquis again and asked about the interest and the lady yesterday got it wrong-it's actuially 49.9%...ok still very high but better than the 69%

I rang virgin media also and got my internet and phone reduced down to 28 a month(and with higher speed broadband LOL), new contract for a year but the price will stay the same for a further year afterwards

I'm definitely going to keep a spending diary.Do I include bills in that or is it just for shopping?

Toomuchdebt

Domino yes I plan to throw everything I can at vanquis to get it paid off asap.

Re the groceries-that includes nappies for the 2 year old-nowhere near potty training yet so a pack a week plus baby wipes, lotion, cotton wool.Also toilet paper(lots used in this house)washing powder etc etc.Also my eldest had active TB and lost loads of weight-at one point she weighed 40kg and she's 5ft11, so she has been on a high cal diet for the last 4 months to get her back up to a normal weight,hence eating lots-this should start to reduce soon as she's almost there.

I also plan to pay into vanquis any leftover bits from my bank account-ie I get money on Monday and then again on Tuesday...once I've paid bills etc, taken some out for groceries,if there's say 3.91 left I will send that to vanquis as I can't withdraw that from a cashpoint.Then when I get some more in on Tuesday I will do the same.

jumperjohn

Jeeze, £2768 benefits! That's around 45k a year. I'm a mug, college, university and courses, should have just had lots of kids. You had a second chance after bankruptcy, you claim all that cash and you still want more. Sell the crap you bought, you don't need it.
Sorry for the rant, but I can't wait for the £26k benefit cap to start.

Toomuchdebt

Where does it say I want more?????????????Go on tell me where I said I wanted more! And yes sorry but I claim what i'm entitled to,no more.6 kids cost a lot and before you have a rant about single mothers, i didn't CHOOSE for my partner to cheat on me and move out. Yes I know I'm an idiot for not staying debt free after the bankruptcy.You don't have to tell me.And as soon as I can get back into work properly I will do so.As for the crap I bought it's been mostly furniture(should my kids sleep on the floor?),a new tv after the old one went bang, clothes...yes some of it undoubtedly was crap and yes IT IS ALL MY FAULT.But yes thanks jumperjohn for making me feel like crap.I was worried sick about posting my SOA and I sure as hell won't be doing it again. Back to lurking for me. PS I sincerely hope you're NEVER in a situation where you have to claim benefits cos believe me it sucks to have people having a go at you for something you can't help.Or should I work full time and put my youngest 2 into childcare and the older ones into after school club and end up on 800 a month and not able to afford food???????????I'll be deleting my posts now.You know what else?I've felt like a crap worthless loser for a long time.Thanks for confirming that for me.
Thanks to all who helped.