Where to start?

LannieDuck

But starting to tackle it is really good. Each little bit you work out is a step towards getting your finances sorted.

I'm afraid I'm not quite sure of the implications of being on an emergency tax code. It's possible you might be in line for a tax rebate (I think they normally over-tax when they're not sure, rather than under-tax). There's at least a chance it might be good news.

bess1234_2

Gosh you do have a lot to go through, but make sure it's all written down and go through stuff in order. But getting off emergency tax should improve things so much. Fingers crossed for you.

Mrs_Cheshire

pelirocco wrote: »

There are zero rated contracts , which means there are no minimum hours , the OP does say however he works 6 days a week

I wasn't querying the no of hours it was the amount the OP said he earns based on the hours she stated, but we found out later he's on emergency tax hence the reason for the relatively low take home pay!

OP you have definitely made the right decision to tackle everything head on, It might seem like a daunting task right now but it does get easier!

ChasingButterflies

Hi crispycreme,

Glad to see you found the oldstyle board - that will help a lot I am sure.

If you put your other half's wage details in here http://www.listentotaxman.com/ that should give you an accurate idea of what he should be bringing home (once tax code is sorted!) You can input what his most recent code is without M1 to get the correct figure.

Did he hand in P45 when he started his current employment or fill out a P46?

Just write a list then you can cross each job off and feel like you are getting somewhere, and hopefully a little less overwhelmed

crispycreme_2

Ok so how do I go about getting all my debts together? As said up thread, I'm confused about my/DP's credit file. There are debts on there that dont seem to be sending letters. Do I approach them?

Also is it best to contact the original company's or deal with the debt agency's that are sending letters?

If I had all the debt we owec collected together than at least we will know exactly where we stand.

Then obviously my next step would to sort out our day to day finances so that we are not only breaking even, but also in the position where we can pay off the debts.

LannieDuck

How old are the debts on your/DP's credit files? If they're more than 6 years, they may be statute barred. If it's close to 6 years, you may choose not to contact the company and hope they become statute barred.

If they're only a couple of years, I would contact the company showing on your credit file (unless you know that a debt agency is dealing with that specific debt) and ask them how much you owe. You could also send a 'prove it' letter, where they have to show where that debt originated.

crispycreme_2

There is a mixture of dates.

Whatt does statute barrred mean? Also will all our debts be on Experian, or will they be different deb ts on different company websites?

Sorry for all the questions.

crispycreme_2

Thank you for all the links. Following the tax calculator one, we are short just over £150 per month. Will get a new tax code sorted, following the other link. So thank you again so much for these and the other links have been great too. National debtline very informative too.

retromother

Hi again. Hope you are well. Assuming you can't do anything to lower your fixed bills, I'm calculating you currently have £896 for everything else (including debt payments). Now if you get the extra £150 then this will help immensely.

My water rates are about the same and I live in a three bed. When you rent meters aren't always optional so I'm assuming that's a given. You don't pay gas so I guess you heat electrically. So I think that sounds about right too. TV licence should be about 12.12 a month. And your phone bill sounds high.

So I think number one saving is tobacco, which you've acknowledged. I think groceries could get down to at least 300. Newspapers to nothing, metro is free as is web based news. Entertainment perhaps netflix for 6 and free days out? Pocket money is high. There is suggested amounts online is you google it.

For me clothing is bought after Christmas with any money or gift cards I receive and end of the summer for uniforms. Shouldn't cost too much if you are sensible.

Try a gradual reduction each month for a softer landing. Hope this helps xx

crispycreme_2

Yes my water is on a meter (no idea how this works) and yes, we heat with electric. We have storage heaters, not sure how this affects us, none of this is stuff I have any knowledge on.

in regards to the TV licence, we moved in here March. Should that make a difference in anyway? Phone bill high as I admit we are not careful with calls.

£300 for grocerys should be ok, I have been on old style board and its great for this. Hoping to get it down further, but we shall see.

Your advice does help alot, thank you xx