Debt help

Legacy_user

Hi I have a debt problem and need your help.. Where do I start ?????

Pollycat

Your best bet is to complete this so posters can get an idea of how big your debt problem is:

http://www.stoozing.com/calculator/soa.php

There's also a number of 'stickies' at the top of this board that you could take a look at.

pistelman

step 2 is to get everything down on paper (best to do a s.o.a).
including all house bills , all spending and all debt. then the good people on here can have a better understanding on the course of action best suited to you.

you have already had step 1 in realising you need help

good look and happy new year:beer:

fermi

Main site --> Debt Problems: What to do & where to get help

Forum --> DFW Newbies: Where to start, Challenges, SOAs, Nerds & Debt Free Roll of Honour!

and

--> IMPORTANT - Where to seek professional impartial advice about your debts.

System

Thanks , il do a soa as soon as I'm home, then do I just post it on here??

I've been hiding it away for a good few months now , making minimum payments, but Christmas has just gone and it's only getting worse

sithemadmonkey

Format the SOA for moneysavingexpert (it's one of the options at the bottom I think) then post it here. The regular posters are very good at spotting where you're overspending (please don't get offended if you don't agree with them, some can be quite blunt but they're only trying to help), and suggesting the cheapest/easiest/quickest way of getting your debt down.

Have a really good read of the links Fermi posted. There are loads of tips, and will also point you in the direction of various charities etc that can offer you free, impartial advice.

slowlyfading

When you do your SOA, don't panic! It may seem scary, but you're in the right place

Once you've worked everything out, post in on here and we'll help you to balance the books and get the debt repayments started

System

[tt]Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 925
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 925
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 350
Management charge (leasehold property).. 0
Council tax............................. 93
Electricity............................. 67
Gas..................................... 83
Oil..................................... 0
Water rates............................. 48.6
Telephone (land line)................... 0
Mobile phone............................ 48.9
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 30.64
Groceries etc. ......................... 0
Clothing................................ 0
Petrol/diesel........................... 20
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
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...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 741.14

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 400
Total Assets............................ 400

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................2000......25........18.94
credit card....................2086.47...25........0
overdraft......................588.......0.........19.94
Total unsecured debts..........4674.47...50........-

Monthly Budget Summary
Total monthly income.................... 925
Expenses (including HP & secured debts). 741.14
Available for debt repayments........... 183.86
Monthly UNsecured debt repayments....... 50
Amount left after debt repayments....... 133.86
Personal Balance Sheet Summary
Total assets (things you own)........... 400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -4,674.47
Net Assets.............................. -4,274.47
[/tt]

System

please help

Vikipollard

Is this just your half of everything? If so, you need to add your partner's as well to give a whole picture.


You have three children but show no benefits and you must be getting at least child benefit? There is no spend down for groceries either?


Please could you put the rest in so the much cleverer than I am people on this forum can help

System

the reason being is because, my partner does all the grocery shopping and tv licence, and some to the rent. we dont split the money in the house so this is my debt and exactly what i get and i have to pay.