Statement of Affairs

Walaboobah

MBNA have accepted the reduced offer of payment of £64.09 a month and have frozen all interest and charges! :beer:

one down, 5 to go......

nic_santorini

Walaboobah wrote: »

OK, here goes
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.................... 2

Monthly Income Details
Monthly income after tax................ 2779.72
Partners monthly income after tax....... 600
Benefits................................ 134.8
Other income............................ 0
Total monthly income.................... 3514.52

Monthly Expense Details
Mortgage................................ 462
Secured/HP loan repayments.............. 200
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 97
Electricity............................. 20
Gas..................................... 25
Oil..................................... 0
Water rates............................. 48
Telephone (land line)................... 20
Mobile phone............................ 46
TV Licence.............................. 12.5
Satellite/Cable TV...................... 82 too much - try BT Vision deal - really good
Internet Services....................... 6
Groceries etc. ......................... 400 - you could cut this to £300
Clothing................................ 50
Petrol/diesel........................... 150
Road tax................................ 35
Car Insurance........................... 70
Car maintenance (including MOT)......... 50
Car parking............................. 10
Other travel............................ 10
Childcare/nursery....................... 0
Other child related expenses............ 120
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 20 I have found a joint policy with Royal Bank of Scotland for £15 a month - shop around
Contents insurance...................... 14
Life assurance ......................... 110
Other insurance......................... 51
Presents (birthday, christmas etc)...... 120
Haircuts................................ 20
Entertainment........................... 150
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2408.5


Assets
Cash.................................... 0
House value (Gross)..................... 165000
Shares and bonds........................ 0
Car(s).................................. 8000
Other assets............................ 0
Total Assets............................ 173000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 97000....(462)......0.78
Secured Debt.................. 44000....(200)......3.5
Total secured & HP debts...... 141000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Halifax CC.....................11000.....200.......18.7
Barclayloan....................5649......207.......6.9
MBNA CC........................4462......150.......19.9
Barclayloan....................2046......112.......6.9
Halifax OD.....................1400......31........0
Barclays OD....................2700......30........0
Total unsecured debts..........27257.....730.......-


Monthly Budget Summary
Total monthly income.................... 3,514.52
Expenses (including HP & secured debts). 2,408.5
Available for debt repayments........... 1,106.02
Monthly UNsecured debt repayments....... 730
Amount left after debt repayments....... 376.02

Personal Balance Sheet Summary
Total assets (things you own)........... 173,000
Total HP & Secured debt................. -141,000
Total Unsecured debt.................... -27,257
Net Assets.............................. 4,743

Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

Now according to that we have £376.02 left over each month, this isn't true so I suspect our Entertainment budget must be higher than I've put.

Any thoughts?

Just a few bits and pieces above. BT Vision have a great broadband, telephone and tv package. It is only £46 a month for it all and the tv is great. Will never get sky again!!

Walaboobah

I know that Nic, but unfortunately we can only get 16 freeview channels in the area so all of the additional ones are not available. I'd happily drop Sky at the end of the contract if they were as I have my broadband and phone with BT having switched from Sky in May

chris1973

Freesat

http://www.freesat.co.uk/

Just buy a 'Freesat' box and plug the box into your existing Sky Dish, and cancel your Sky Subscription, and mothball your skybox

Gives you the majority of the Freeview channels + a few additional ones not on digital freeview, without having to rely on signal strength of a conventional digital freeview aerial

Plenty of cheap Freesat boxes on Ebay. Argos also have deals on them from time to time.

[Deleted User]

Walaboobah wrote: »

We are in a bad freeview reception area but accept we pay too much for Sky

Freesat?...

blisteringblue

Walaboobah wrote: »

I know that Nic, but unfortunately we can only get 16 freeview channels in the area so all of the additional ones are not available. I'd happily drop Sky at the end of the contract if they were as I have my broadband and phone with BT having switched from Sky in May

Your sky box will automatically become a "freesat from sky" box, this is what you will get with no subscription

http://www.sky.com/shop/freesat/home/what-can-i-watch/

blisteringblue

Walaboobah wrote: »

Fair points blisteringblue, unfortunately we just cannot afford the repayments we are on and I believe had no alternative but to go down this route

Do you have any free credit on any of your cards? I had great success playing the credit card shuffle as I have quite a few cards about half full? My problem was I played the 0% game for a while and then moved onto the "life of balance" ones so around 1/2 mine is at a good rate and 1/2 full rate.

However got a couple of 0% in the wifes name and then started juggling. Have so far managed to save around £250 a month in interest, and have just managed to juggle 7k off my highest internet Barclaycard, and am hoping I can get their LOB offer and shift another high rate when I can blag this.

Anyway by shifting the 7k to almost interest free I've just dropped 2 months off the snowball. Only 40 months now! It was 52 months when I started 12 months ago.

You need to be switched on but it's very much a "game" now.

I'm actually going to try the MSE tip of ringing my current high interest provider and tell them I am about to shift the whole balance to a new card at 0% for 12 months (the deal is actually 6 months but they don't know that, although I'm going to try for a life of balance blag instead anyway) and see if they will match it without transferring? Don't ask you don't get.

If I can get that and still have the clear Barclaycard I can then shift all my high standard interest for at least 12 months then! This will be another £300 a month interest saved which all goes to the snowball.

However I do think you have to maintain your T&Cs to keep getting the deals? If you are phoning up for reduced payments the accounts are likely to be closed until you pay them off.

Walaboobah

blisteringblue wrote: »

Your sky box will automatically become a "freesat from sky" box, this is what you will get with no subscription

http://www.sky.com/shop/freesat/home/what-can-i-watch/

Yep, that's what we will be doing as soon as the current 12 month contract expires, 7 months to go on it but in a month's time I'll be taking it down to the minimum subscription we can get away with

Walaboobah

Had a termination of Account letter off Barclays on the weekend demanding full repayment of the balance on the overdraft of £2489.75 and adding £1.15 a day interest on which freaked me out a bit.

Just spoke to a guy in their Customer Services Team who said it was a standard letter that they have to send out, I'll shortly be receiving a follow up letter saying that the account has been frozen with no interest to be added and they have accepted CCCS's offer of £57.48 a month

2 have now accepted MBNA and Barclays overdraft.

Halifax O/D have accepted £31.00 a month but will still be adding charges and reducing the balance each month for 6 months so thanks a lot for that as it means nothing will get paid off the balance as that's pretty much the monthly fee for the account.

The only downside is that I now have to find breakdown cover as we had that, Mobile Phone and Travel Insurance all through Barclays for £16.00 a month as part of the account.

My basic Select Account with Nat West won't have that unfortunately!

First payment due to go out to CCCS on Wednesday and then the start of the long road to being debt free. Once that challenge is done and dusted, i'll be aiming to pay the mortgage down with the extra money I get each month from not having to pay these other debts!

I'm so glad I came here for advice and didn't take out another Consolidation Loan to pay off the unsecured debts.

I am beginning to see that there maybe some light at the end of the tunnel even though the light is a pin !!!!! at the moment!

Walaboobah

All three Barclays accounts have either accepted or are in the process of accepting the offer!