Newbie. WAAAH!

TheUmpteenth

niksyg wrote: »

How far into the contract are you? If you are halfway through you should be able to downgrade your package. Ring up your provider and explain that you are struggling to pay and ask them to cut your bill down. Hopefully it'll work - give them a call

they were new not so long ago, and I have brought them down since last year.:(

mum2one

TheUmpteenth wrote: »

Hi folks.

I think I'm finally at the end of my rope. most of my cards are on 0% one is on a low rate for life, but I'm paying out all of my wage, and I'm not paying everything I should be.
Jeez, it's hard, !!!!!! do I do?

SOA:



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.................... 1

Monthly Income Details
Monthly income after tax................ 1854.1
Benefits................................ 619.83
Total monthly income.................... 2473.93

Monthly Expense Details
Secured/HP loan repayments.............. 23.08
Rent.................................... 915
Council tax............................. 170 - can you pay over 12 months
Electricity............................. 92 - you need to reduce useage, dont leave items n charge overnight, = turn down thermostat
Water rates............................. 15
Telephone (land line)................... 60.83 - does that include internet - def need to shop around
Mobile phone............................ 74.85 - 3 phones way to high - if contract ring up and explain too expensive - ask to be dropped a tariff - at renewal cancel and go pay and go
Groceries etc. ......................... 300 - try to reduce, meal plan, chamge brands to a lower brand, look at cheaper supermarkets
Clothing................................ 30
Petrol/diesel........................... 60
Road tax................................ 20.2
Car Insurance........................... 53.54 - you really need to shop around, - try comparison sites
Other travel............................ 132.8 - need to look at reducing, - car share, lift, even walk a bit
Presents (birthday, christmas etc)...... 300 - sorry but that is way to much at the mo cut to £50 - theres plenty of threads about planning presents
Total monthly expenses.................. 2247.3

Assets
Car(s).................................. 200
Total Assets............................ 200

Secured & HP Debts
Description....................Debt......Monthly...APR
Hire Purchase (HP) debt ...... 815.15...(23.08)....37.9
Total secured & HP debts...... 815.15....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
bcrd...........................6648.86...170.......6.7
nwst...........................1831.34...18.32.....0
hbos...........................5367.79...53.67.....0
doorstep.......................6000......10........0
overdraft (maxed)..............1560......0.........19.24
Total unsecured debts..........21407.99..251.99....-

Monthly Budget Summary
Total monthly income.................... 2,473.93
Expenses (including HP & secured debts). 2,247.3
Available for debt repayments........... 226.63
Monthly UNsecured debt repayments....... 251.99
Amount short for making debt repayments. -25.36

Personal Balance Sheet Summary
Total assets (things you own)........... 200
Total HP & Secured debt................. -815.15
Total Unsecured debt.................... -21,407.99
Net Assets.............................. -22,023.14

the good thing is at the mo your only £26 short, with a few minor snips this can be done easily - with a few medium term changes you could free up £200 per month, long term - £400 a month..... the changes may seem harsh but its easier to work towards the long term goal and this will have an amazing impact on the debts.


Even at £200 pm savings this could clear the OD by xmas xx

niksyg

If suggest giving the mobile phone company a ring...what have you got to lose? Thy could say no and you stay as you are, or they could bring it down for you...just try it!

£300 is huge for presents and £800 is even worse!! I'd really recommend re-evaluating where all that money is going and working out if it's really worth it. Who are you buying presents for and could they not do with something less expensive??

beanielou

Do you actually have enough money every month to pay the debt?
Your rent is huge.
What is your secured debt?

binibecca

I rang my fruit based mobile phone company and told them I couldn't afford the monthly contract as it was and they dropped me down by £8 per month.
With my landline company I found a cheaper deal else where so rang to cancel- they didn't want to let me go so they have priced matched. Give it ago. As others have said you have nothing to loose by ringing (apart from the time spent on hold!)