Seeking first time help!

mullan67

Hi there,

I am new to this, but today I have spoken to payplan and they are going to call me tomorrow hopefully with some good advice. At this point my debt is approx £23,136.18. i have included my incoming and outgoings.

Looking to see if anybody could pass on some sound advice, i am in Scotland so my thinking is along the lines of a trust deed, also i currently staying with my parents so would this have any effect?

Monthly Incomings:

My salary - 1054.02

Total - 1054.02

Monthly Outgoings:

Mortgage/Rent - £300
Council Tax - £nil
Gas - £nil
Electric - £nil
TV License - £nil
Virgin £18.00
Phone - £30.00
Food - £
Car Insurance -approx £430.00 anually
Petrol - £30.00
Life Insurance £

halfiax credit card £5032.51 apr22.5 pay £100.00 per month
egg card £9901.07 apr16.9 pay £250.00 per month
loan with lombard direct £8202.60 apr 6.4 pay £390.60 per month
halifax overdraft £2000.00 unsure overdrawn to £1990.

Total: £1088.60

Cheers for any help

redballoon_2

Cancel Virgin if you can.
Shop around for car insurance when it is next due.
Sell anything you can on ebay!

Can you not move back home until some of these debts are paid off?

How much do you spend on food per month?

Can you do any extra shifts, second job, mystery shopping etc?

have you joined pigsback?

david_hellier

will deal later

david_hellier

Hi,

Welcome. According to my figures you are overspending by £30.68 per week. If you are paying for your own food, you cannot afford to eat. Therefore you need to increase your income by about £130 per week to eat and socialise. I have included a figure to pay towards your od which will also need servicing. Stop using credit cards, do not borrow any more money and do not consolidate.

If you can get rid of the car and use public transport/lifts, this will make a difference. Follow the cut back advice of the others.

Good luck, the figures:

income weekly monthly
self 1054.00
partner







total 0.00 1054.00 divide by 4.33
£243.23

£243.23 total weekly income

spend weekly monthly
rent/mortgage 300.00
council tax 0.00
elec 0.00
gas 0.00
water 0.00
secured loans 0.00
TV licence 0.00
fines 0.00
virgin 18.00
phone 30.00
car ins 35.83
car tax 12.50
halifax 100.00
egg 250.00
lombard 390.60
o/d payoff 50.00
















total 0.00 1186.93 divide by 4.33
£273.91

£273.91 total weekly spend

Start= income - spend = £30.68 per week (a minus)