Any advice to help me pay all this off?

Dog_on_wheels

Hi there,

I have a lot of debt and would really like to get to grips with it.

We have three kids and only 1 wage coming in which is not ideal but my monthly outgoings are:

Mortgage - £685
Phone - £25
TV Licence - £12
Water - £31
Gas - £40
Elec - £30
Council tax - £145
Food/petrol/nappies/baby milk - £400
A+L loan £135 (£4800 owed)
MBNA card - £50 (£1200 owed)
Bank of Scotland card - £250 (£8000 owed)
Overdraft - £55 (£5000 owed)
Barclaycard - £125 (£6000 owed)

Income + £1780 wages
Tax credit/child benefit £120

Income £1900
Outgoings £1983

Plus we have car insurance and car tax once a year, also house insurance once a year. We have been using a cashback site so the insurance is not all that much.

Any help please? It is starting to make me feel a bit like I am getting into a position where I can't get out of it, so any good advice is greatly recieved.

Thanks.

Little_Miss_Winner

Hiya,

The one thing that stood out at me when i glanced at your SOA was this;-
Tax credit/child benefit £120
How old are your children? ARe you getting the correct amount of money for them?

Conor_3

Your tax credits sound extremely low. Child Tax Credit (not Child Benefit) should be far more than that on it's own, not taking Working Tax Credit into account. I'd ring them up and have a chat.

Sea78

:hello: HI!

I'd agree with the above - the child benefit/tc is the same amount i get in chlid benefit per month for 2 kids...worth checking out again.

How about other outgoings? Christmas, birthdays etc...all adds up and even if it means your outgoings are way above your incomings, it gives an accurate picture, albeit a scarey one! Are you still using your cards?

Sea xx

taxi73

Hi there have you actually told TAX credits there is only one wage coming in as your income seems really low..is your OH entitled to unemployment benefit...you could maybe phone and check what benefits you are entitled to