Single and in £10k of debt

Me,DDand2cats

Quick note about me, I'm 35 years old and I was happily living with my b/f and DD and 2 cats. We were happy or so I thought and 3 weeks ago m b/f walked out and moved in with the woman he's been having an affair with for the last 3 years :mad: turns out I was the last to know.

Well were do I start the house is rented and there's £10k worth or loans in my name and I am now at university doing my degree so monies an issue but I need to work out how to get out of this mess.

First good thing there is at least a months worth or food, I am going to start sorting things out to sell and raise a little that way too. OK my SOA:

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 708
Partners monthly income after tax....... 0
Benefits................................ 681
Other income............................ 0
Total monthly income.................... 1389
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 43
Gas..................................... 40
Oil..................................... 0
Water rates............................. 33
Telephone (land line)................... 35
Mobile phone............................ 0
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 120
Clothing................................ 20
Petrol/diesel........................... 130
Road tax................................ 20
Car Insurance........................... 35
Car maintenance (including MOT)......... 5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 5.89
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 30
Emergency fund.......................... 10
Total monthly expenses.................. 556.89

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 3000

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Lloysdtsb......................6022.17...250.......0
Vanquis........................250.......16........39.9
Sainsbury......................950.......33........0
Capital one....................120.......20........0
Total unsecured debts..........7342.17...319.......-

Monthly Budget Summary
Total monthly income.................... 1,389
Expenses (including HP & secured debts). 556.89
Available for debt repayments........... 832.11
Monthly UNsecured debt repayments....... 319
Amount left after debt repayments....... 513.11
Personal Balance Sheet Summary
Total assets (things you own)........... 3,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,342.17
Net Assets.............................. -4,342.17


Ok not looking too bad, I haven't put the rent in or the council tax as I am council tax exempt and my rent will be paid through benefits.

I need to stick to this now and remember I need to clear this ASAP.

timetogrowup89

Hello,

Sorry to hear about your bf, not a very nice situation.

Checking on in here is a great way to keep motivated.

If you really have £500 left at end of each month then you could be rid of your vanquis and capital one in the first month..

Noticed you don't have anything in entertainment budget. Remember to treat yourself and DD occassionally

Good Luck xx

armchairexpert

Hi, what a shock!

Your SOA looks great, but I think perhaps a little optimistic. Some questions immediately spring to mind - not being nosy, but if you set yourself up to pay back more than you can really afford, it's very demoralising when you don't manage it every month.

When you say your rent is paid out of benefits, have you deducted that amount from the benefits in your income?

What do you do with DD when you're at university, since I notice you have no childcare expenses at all?

What about education expenses - textbooks, stationery, computer printing, photocopying etc?

Is your ex DD's Dad? If so, do you have an arrangement in place regarding child support?

Me,DDand2cats

The rent is fully paid so I didn't put it in the income or outgoings. DD goes to my friends house after school I'm only not here 2 nights a week for her and I have my friend daughter every Saturday as she works that day so it evens out pretty well.

Entertainment wise we watch DVD's as me nd a few parents swap them about between us and cook a lot together, park, picnics always been very frugal that way.

Materials for Uni are covered through my DSA and I claim all that back so put a zero in for that as I have a grant of £4000 for my course, this covers books, printing, and all other materials.

The bf isn't DD dads but her real dad pays nothing anyway and I'm owed £3987 last review as he swops jobs more often that I change my underwear or it feel that way lol.

beanielou

Actually your income is fantastic in relation to your outgoings.
You are in a fantastic position with no rent & council tax to pay.
First to go should be the dreaded Vanquis.
Wishing you well on your journey.

Me,DDand2cats

Had a NSD mainly because my account is empty and because I have been catching up on uni work. My months meal plan is done and there's not a lot I need to add to what I already have. I have been looking through some cheap recipes and I am starting to think ahead for next month to save and eat well.

The house is a tip at the moment as my kitchen is being renovated and both the toilet and bathroom, it's driving me a little mad but I can't wait for it to be done.

milocat

I want to renovate my house!
I made a list and its 3 pages long, oops..
Hope things are going well and you are keeping your head above the waves x