my debt diary

Miss_Cinnabon

Cant believe i have been on this site, nearly 2 years and am now facing up to my debt:eek: i dont answer phonecalls, i put letters straight into the drawer, saying i will look at it later, never do! so need help in getting my act together.

Debt:

Trust deed - finished this but still to pay fees, no idea how much, got to write to them.

council tax - about 1900 pounds, from past years, did have earnings arrestment but when dh moved jobs it stopped, had phonecalls/letters, also need to contact them.

Hire purchase for old car - was through lloyds, then passed to mackenzie hall, very shady company! paying 50 a month, so that debt is ok.

argos card - 193 pounds, need to contact them also!

student loan - 1000 pounds, need to contact them

Doesnt look like much written down, but gets me down, need to contact them all and come to arrangement.

Never had a credit card so no debt there, got a visa electron card for banking etc.

Our monthly income is :

Hubbys is round about 1600 pounds
Benefits ie child benefit, dla etc 920 pounds

Outgoings:

rent - 180
gas/elctric- 30
sky - 40
bt includes broadband - 100
car ins - 39
home ins - 10
life ins - 15
c tax - 100
food - 50 a week
petrol - 60
school meals - 60

road tax etc we pay in full when due, also have 2 repair bills for car to pay, about 250 pounds, payday friday and need to budget, kids need new clothes/shoes etc!

Also 156 pounds payday loan.

We never seem to have any spare money, when i budget there is spare cash? also saving 700 a month for holiday, first time we have managed a big holiday as we dont go out, dont smoke/drink etc.

Need a better way of managing money.

Any tips?

Kyle

Nickynoo1

Are you kidding??

Never seem to have spare cash but saving£700 per month for holiday.

I think your answer is there.

Nickynoo1

Miss_Cinnabon

well thanks so much for your useful post! makes me feel real welcome here, our last payment is next month and want to get the money situation sorted.

Kyle

danielleindebt

hi, its good your facing upto things now tho, before you get out of controll.

im pritty new here so i havnt got many tips but im sure some one will have loadsa great tips for you.

hope you have a wonderfull holliday in 138 days

Smashing

Ditch sky and switch to freeview, or at the very least lower your package.

BT bill is huge - how much is broadband and how much are you spending on calls?

School meals - packed lunches could easily cut this down

nonsensefactory

You owe just over £3K and have £700 pcm to throw at it ? Either postpone the disneyland holiday for 5 months (by then you debt will have been paid) or pay it off when you get back ?!? It sounds to me as though can afford to pay your creditors back with absolute ease but just don't want to, sorry to be so blunt

January20

Come on guys, don't be nasty! That's what DT is for
Sometimes we are too close to a situation to see what is staring us in the face.

Kile, your bt broadband is huge. Mine is around £20-25 a month. Can't you get a cheaper package from somewhere?

And, if you are paying the last installment on your hols, you can put this money -or part of it - towards your debt?

I don't think you have much of a problem if you are prepared to make some small sacrifices for a few months.

Goodness! this is the first time I have tried to give advice on this board :eek:

Little_Pickle

hi kyle...
I've read your post a couple of times and just wondered if this sounded about right...

£1900.00 - for your council tax
£193.00 – for argos
£1000.00 – for student loan
£250.00 – Car repairs

This means you have a total debt of around £3343.00

Okay, first things first. I assume that you and your OH will be paying all of these debts together? So you can reply on both his salary and your benefits / salary?

I think that the very, very best thing to do is contact each and every one of your debtors. And I really think the best way to do this is to CALL THEM!! That way you know straight away how much you owe! Also, when you are on the phone to them ask them how much the IR is…

I have a couple of questions… what is £156.00 – Payday loan???? Is this weekly / monthly / yearly.? What’s it for? How much outstanding?

Also, find out how much you have outstanding on your car HP. Even though it’s manageable, it will make everything so much clearer when you are looking at your full debt amount… very scary, but SO worth doing.

It might help if you write down every debt you have, how much you owe and how much you can afford, realistically, to pay back each month.

Read some more stories here, look at some more plans and build yourself little goals. If you fall at the first hurdles, don’t give up! You’ll be surprised how much better you’ll sleep when you know exactly what you owe and have worked out a little plan for yourself!

Best of luck and make sure you update every week or so to let us know how you are getting on!

Actually, I have a similar sized debt as you, so if you would like a buddy to support you… I’d be up for that!

Little Pickle
xox

Delilah

If i was you i would postpone the holiday (maybe not possible if the kids are talking about it non stop) and go on some cheaper or free outings - Holidays with the sun paper - using nectar points etc for days out, there is so much to do with children that is free, i have debt myself and neither my husband or myself smoke or drink (we have a little girl aswell) but we still go out places that are free or cheap. But have fun on your holiday and if you give a more detailed SOA i'm sure some one much more experienced than me will be along to help you - good luck.

Miss_Cinnabon

Thanks so much to the useful replys:D i know i have money to pay them, i just dont like facing up to it but i know i have to, as i said my last payment next month for holiday and will use that money for the debts, need to get my budget etc sorted and thought this be a great time to get sorted.

Re the holiday, cant postpone although would be good idea as kids have their heart set on it, we have been wanting to do this for 10 years, no holiday next year so we are going to enjoy this one as this might be our last for a while til we get on out feet.

The payday loan, i took out a 350 pound loan and still to pay off 156 this month, so that will be clear.

The hp car is roughly 2000-3000 and paying 50 a month.

Yes my bt bill is huge, we were using phone a lot and also used bt click and buy a lot ie for itunes, now stopped this, this also includes 25 for broadband.

Would love a debt support buddy:D

First thing to do is write to my creditors and offer them a payment which is suitable, work out how much i owe everyone and take it from there.

Thanks
Kyle

whatatwit

Hi Kyle, I know from the OS board that your food shopping is really under control...well done.....I think you should start a spending diary, it's so easy to keep buying bits and pieces especially with a holiday coming up.

You have faced your debts and will soon have them under control.