Best Way Forward

Holes_in_my_pocket

Income/Expenditure as follows:

Income
War Pension £470.43
PO Pension £275.00
Incapacity £387.83
TOTAL £1,133.26


Expediture

Joint Commitments
Rent £240.00
Gas £35.00
Electric £20.00
Water £30.00
Contents Ins £6.00
Telephone £45.00
Council Tax £90.00

My Commitments
Seeing My Girls £100.00
PETROL £120.00
Mobile £30.00
Maintence £140.00
Laundry £30.00



Everyday
Food £170.00
Chemist £6.85
Newspapers £16.00



Occasional
Birthday £10.00
Christmas £20.00
Dentist £13.00
Decorating £5.00
Clothes £20.00
Swimming £38.00
Clothes For Girls £10.00
Outings £30.00

Debts Contactrual Payments
Lloyds £9,000.00 £325.00
First Credit £350.00 £49.00
Abbey £5,400.00 £181.00
M&S £3,000.00 £150.00
Barclaycard £3,000.00 £150.00
MasterCard £3,000.00 £150.00
Tescos £3,000.00 £150.00
Capital One £1,000.00 £10.00


INCOME £1,133.26
EXPENDITURE £991.85
TOTAL £141.41


In Bankruptcy Will they allow money for me to see my daughters as i am divorced.

I have a motobility car fuel costs high as i have walking problems

I have put swimming down as this helps with my medical condition will they allow for that.

Thanks for any advice.

Paul

Welshlassie

Hi Paul

Well done for facing up to your debts. You are talking about bankrutpcy, have you already started this process. If not hold your horses as it may not be the ony option available to you. Although you have a high amount of debt there are other options and your best bet would be to speak to someone at CSA, Payplan or CCCS. They are charities and won't charge you for preparing a payment plan or advising you on the best route forward.

I have taken the liberity of identifying areas you may be able to make some savings to throw extra money at your debts. You should also list the APRs of the debts and whether they are loans or credit cards.

Holes_in_my_pocket wrote: »

Income/Expenditure as follows:

Income
War Pension £470.43
PO Pension £275.00
Incapacity £387.83
TOTAL £1,133.26


Expediture

Joint Commitments
Rent £240.00
Gas £35.00 Check this is the cheapest - Use Quidco for extra cashback
Electric £20.00 Check this is the cheapest
Water £30.00
Contents Ins £6.00
Telephone £45.00 What is included in this eg Broadband, see if you can reduce your package
Council Tax £90.00

My Commitments
Seeing My Girls £100.00
PETROL £120.00 Are you buying this from Tesco/Sainsbury use their loyalty cards get money of shopping
Mobile £30.00 Do you need this, go Pay as you Go or see if you can reduce the tarrif if you really need it
Maintence £140.00
Laundry £30.00 Can this be done at home, can you dry at home savings tumble drying costs



Everyday
Food £170.00 How many is this for, pop over to the Old Style board for ideas to reduce this further
Chemist £6.85
Newspapers £16.00 Check the news on line, a luxary when you have debts



Occasional
Birthday £10.00
Christmas £20.00
Dentist £13.00
Decorating £5.00
Clothes £20.00 Do you actually need new clothes every month at the moment, can you "make do and mend" until your debts are sorted?
Swimming £38.00
Clothes For Girls £10.00
Outings £30.00

Debts Contactrual Payments
Lloyds £9,000.00 £325.00
First Credit £350.00 £49.00
Abbey £5,400.00 £181.00
M&S £3,000.00 £150.00
Barclaycard £3,000.00 £150.00
MasterCard £3,000.00 £150.00
Tescos £3,000.00 £150.00
Capital One £1,000.00 £10.00


INCOME £1,133.26
EXPENDITURE £991.85
TOTAL £141.41 What happens to this every month - if you don't know then keep a spending diary and put every paper, coffee, chocolate bar you buy in it and watch the amount mount up, you could be using this to pay of your debts quicker.


In Bankruptcy Will they allow money for me to see my daughters as i am divorced.

I have a motobility car fuel costs high as i have walking problems

I have put swimming down as this helps with my medical condition will they allow for that.

Thanks for any advice.

Paul

Good luck