Where to start?

runforlife

Ah, the debt is not so bad. Mostly tax / benefits. Make sure you talk to the relevant organsiations - organise a repayment plan.

The one BIG thing that sticks out is smokes. Your figure is very high at over £10 a day which totals £3648 a year. Put another way that is nearly your WHOLE debt!

So, I'm not telling you to stop, that wouldnt be fair, but how about using that figure to try to cut down or give up. If you can change your mindset there then you are going to save a heck of a lot of money! Seek help and guidance in cutting down / stopping.

The water rates at £46 a month seem high. Is that for 9 months or the full 12 month period? It makes a difference! Are you on meter? Try cutting down water usage if so. Again there is advice out there for that eg putting a brick in the toilet cistern or not flushing after a number 1.

Newspapers. Try to stop these. Use the internet. Another way to look at it is £13 a month is £156 a year. Thats like getting a months free council tax. Converting it to a yearly amount helps to see just how much you do spend. I know it helped me!

Is £36 a month on pocket money for the kids essential? Look at reducing.

And another big target is entertainment. I would say that £140 a month is not affordable for you at the moment. Stop the love film package. Revisit old DVD's or borrow them from the library.

It doesnt stop you having great days in or out. Go walking in the countryside, to the park, take a picnic (Yes! Even in this weather you can do a flask of warm soup and some bread). There's so much to do out there and its probably healthier for your family too.

TV licence is usually around £13 a month once you get it onto a monthly payment schedule. Reduce it to that and you are saving nearly a tenner!

So you see, you can make savings. You can do it and with the support of people on here you will. Good luck.

tulip28

Hey,

You definitely have the money hiding away behind the cigs, LoveFilm, and clawing back from the shopping bills.

I know how hard it is with a family to feed and think of but you can do it if you plan your meals and cut back on the luxuries.

That's pants about the car! Hope he is ok? What have the insurance said? x

Mrs_Cheshire

I've just recently started this process myself and we're going through CAP (Christians against poverty) they have suggested for a family our size (2 adults and 2 children 2yrs and 4yrs) that our food budget be £120 per week, our leisure/entertainment is £40 per month same for clothes and £10 per month for school, for trips etc.

crispycreme_2

DP's fine thank you. x
It was a car share with my brother, they split bills on it. It was my brother who crashed it and he's fine. My brother was on as the named driver, not DP.

tulip28

Oh cr8p. Always the way isn't it right on top of xmas too.

Could you not borrow a car for a couple of weeks? I know that may be a longshot but you never know. xx

tallyhoh

I don't know how many hours your partner works but over 44% of his earnings are spent on cigarettes, that's very high.


I managed to go cold turkey after 30 years but if you cant do that there is plenty of free help & advice out there now.


Even cutting down & just having one when absolutely desperate would help right now.

crispycreme_2

Updated SOA again.

I am sure me And DP owe more than this. As much as I dont want to, I think I'm going to have to find out & add them to this. Any idea on how I do this?

National_Debtline

You may be able to get further information from yoru credit file. We've a good fact sheet on credit referencing, here:
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=05_credit_reference_agencies

I noticed that you have council tax arrears, that's an important priority debt. What's happening with that one?

pelirocco

You are overspending by £574 each month , how are you funding this?

To be frank your debts are the least of your worries , you cant service them let alone pay them off until the shortfall is addressed

tulip28

crispycreme wrote: »

So here it is. My SOA.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3

Monthly Income Details[/b]
Monthly income after tax................ 677 - Overtime available?

Benefits................................ 1182
Other income............................ 0
Total monthly income.................... 1859

Monthly Expense Details
Rent.................................... 600
Council tax............................. 148 - is this including any debt paybacks?

Electricity............................. 54 - shop around to change this - could be cheaper

Water rates............................. 46
Are you on a meter?

Telephone (land line)................... 60 - who are you with for this - are you locked into a contract?

Mobile phone............................ 30

TV Licence.............................. 25
This seems quite high??

Groceries etc. ......................... 500 - this really needs to be looked out - plan your meals - buy accordingly.

Clothing................................ 115 - get down to boot sales, or fix what is broken - try not to buy new if you can help it.


Presents (birthday, christmas etc)...... 82 - Budget this some more - even by £20 still a saving. I am sure more little presents than big expensive ones will still be ok.


Haircuts................................ 50 -
Start trimming at home.

Entertainment........................... 140 - cut the lovefilm off, start walking in the parks, take advantage of the free transport kids get and get out - take sandwiches up London for the day. Sign up to voucher sites for cinema's or local events.


Holiday................................. 41
Could this be scrapped for a while?

Emergency fund.......................... 41
Keep this for now.

School Meals............................ 112 - do kiddies not qualify for free lunches?

School Trips............................ 21 - could this be stopped for a short time?

Pocket money............................ 36 - treat kiddies to something else each - pick n mix or one toy from the pound shop. I do this with mine - they can have ANY item they want.

Beauty.................................. 15 - hey we need our beauty!

Newspaper............................... 13 - gotta curb this hun

Smokes.................................. 304 - you know my feelings on this one already lol x

Total monthly expenses.................. 2433



Unsecured Debts
Description....................Debt......Monthly...APR
Housing Benefit................276
Council Tax....................652
H.B O.P (Old Address)..........2337
Electric Company...............300
Family.........................300
Lowell ........................407.48
Lucas Credit...................386.93
Red ...........................579.41
C.T (Old Address)..............1210
HMR............................1320
Total unsecured debts..........7768.82


Monthly Budget Summary
Total monthly income.................... 1,859
Expenses (including HP & secured debts). 2,433
Available for debt repayments........... -574
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -574

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -7,768.82
Net Assets.............................. -7,768.82


With your arrears from the council - have they been in touch with a repayment plan at all?