My first Step

Kevwin

Hi. Im Kevin, The last few years has seen me be very irresponsible as far as money goes. The banks and loan companys kept wanting to give me me money and I kept saying yes. I realise now how silly I was.
In October 06, My hours at work were cut to only 14 hours pw from 40 (McDonalds for you) which meant I could not to afford to pay bills. instead of facing upto them I just ignored them and hoped they would go away.
In December I found a new job. Minimum wage but the hours and income was and is regular so I know I will be getting an OK paycheck each month. During the times I had my hours cut certain direct debits were returned by my bank incurrring charges for me, While others took me over my overdraft limit causing other charges. (Over the last 6 years I think I have been charged around £1200 or more. A DPA Disclosure request has been sent out.)
As a result I have had some accounts passed on to a recovery agency, But im having difficulty contacting them due to there hours of service.
All incomplete or vague info supplied below will be updated as get the exact figures over the nxt few days so that I can see exactly where I am.
I have to get on my feet asap as my girlfriend and I have to find a place for ourselves around July time when she has finished her studies. (I am also looking for a better paid job to help get on top of things. and I will start a spending Diary from tomorow onwards)




Total Income £703.86pcm


Lloyds loan £6394.05 (Origianal repayments £186. Current Agreement £70 pcm)
Lloyds Overdraft limit £580 (In agreement to lower by £40 each calender month)
Lloyds Balance £180 Dr

GE 1 £1300 (Viking Services) £39pcm (Viking now asking for £69pcm)
GE 2 £900 £29pcm
GE 3 £200 £10pcm (£5 approx added in interest each month)



Arrears
ThreeMobile £60
Amounts with GE 1,2 + 3 (Unknown at present, Will find out over weekend)

Outgoings PCM
Lodge £140
Bus/Trainfare £80
Internet £10

I understand that the money I am earning each month is plenty to cover all bills with around £200 left over. However as it is at the moment, I am left short before I have even payed into the arrears (before I even start with actual payments).


Thanks for taking your time to read this. Hopefully It will be upto date within a week.
Nice to meet you all
-Kevwin

Snaggles

Hi Kevin, welcome to DFW

Good luck with reclaiming your charges, that should help knock the debt down.

Do you know the APRs of your debts?

Thunderbird_2

Welcome to the DFW

I feel for you, Kevin. Most of us have been where you are now ( light bulb moment ) I know how you feel. Once you complete your SOA ( statement Of Affairs ), we are going to be able to give you help and advice where you might need it. Well done for having the courage to face your debts!!:T

Thunderbird

Kevwin

Its been a long time but I have pulled my Finger out to attempt this once again. This time I am determined to Sort myself out.

Monthly Incomings:

My salary - £703

Total - £703

Monthly Outgoings:
These are what I should be paying each month.
Rent - £140
Phone - £35
Internet-£20
Bus/trains-£90
Ge Money-£29
Ge Money-£39
Ge Money-£19
Lloyds Tsb-£120 (40 comes off O/D, 70 off loan and 10 acct Charge)
Total-£492
As you can see I should be ok, However Due to arreas demands I am currently struggling.
This is a plan I am going to try to implement to get out of the rut I am in.
Pay 3 £50 (I currently owe £100 in arreas, which they are getting back through an agency)
Pay Lodge £140
Pay Lloyds TSB £120
Pay Lewis (GE) £80
Pay GE £40
Pay GE £20
Put by For transport £100
Pay Jane £20
Total £570
Any money left over after general living expenses such as toiletries emergency purchases et will also be spent on the arreas. I will Use this method until arreas and smaller debts are cleared and then go back to normal payments but ploughing extra cash into other debts.

Total debt:
Lloyds Tsb Loan £6374
Lloyds Tsb O/D £460
Three £100e
GE 1 £1300e
GE 2 £1000e
GE 3 £300e
Jane £43e
Total £9577

atypicalblonde

Hi Kevin, welcome to the boards!!

My first question would be do you know the APRs on your debts?

Kevwin

Oh my I completely forgot about that. I have written out a plan today containing all the info I need to print out to assist when it comes to ringing around to pay the debts. It needs updating with telephone numbers etc. I will make a note to ask for the APRs when I call them. Although i may have record of it on statements at home ill check.

betti911

What about gas and electricity? Food?

Could you change your phone contract? Its worth a shot. I got mine down from £40 a month to £28 with 800 anytime minutes, free weekend mins and 400 texts messages.

LJD1_2

Hiya
Just wanted to say welcome to the board. I'm sure they'll be loads of people on here to give you advice once you have all the information. Good luck sorting yourself out.

Kevwin

betti911 wrote: »

What about gas and electricity? Food?

Could you change your phone contract? Its worth a shot. I got mine down from £40 a month to £28 with 800 anytime minutes, free weekend mins and 400 texts messages.

The great thing is that I live with my Mum. So Bills are inclusive. I have tried knocking the contract down. they charge £25 per band and you have to leave a month between each drop. But as i am in arreas at the moment I can't do anything more just yet.
Thank you all for these great suggestions.