no judgements please. my SOA

vics1928

Aww ok - thanks that is some good advice - do you mind me asking how you sorted out the rest of them then

vics1928

lindens wrote: »

I think a DMP is the way forward, ring one of the charities in the stickies listed at the top and read the beginners guide, they will advise how much to offer your creditors

Thanks I am already looking into step change website - i have been told by another company that a IVA is my option but I really don't think I want this idea

longtermplanner

You seem to have a lot of insurance!

Simply health 44 - cancel
Pet insurance 28 - get cheaper?
Partners phone 40 &My phone 50 ( both still have year to run) - don't upgrade, switch to v cheap sim only at end of contracts
Car insurance 90 ( changed car after plan took out up for renewal March) ouch
Bike insurance 42 ( again in may) ouch ouch
Contents insurance 15 necessary but get cheaper?
Check my file 8 - cancel
Just giving 10 - cancel
Hair cuts 24 - go less often?
Car main ace 40 Inc bike - more insurance?

So there is quite a bit to be saved there. However, you are missing:
- road tax
- car servicing/repair (things like new wiper blades and tyres won't be covered by ACE whatever that is)
- clothes!
- food has to include toiletries, cleaning and sundries such as light bulbs and batteries. have you taken these into account?
- prescriptions, opticians checkups (unless that is in the contacts line?)
- presents

Where would you get the money from to make a settlement offer?

vics1928

Hi - some of the smaller cards was thinking of offering them 50?? And that was meant to say maintance

Cinny91

I'm going to second Asparagus and say there is a lot of room to cut back which is good

Also, never worry about judgement on this part of the forum. Use DFW clan are called "huggers" by the other parts of the forum for a reason We've all been in your shoes, please don't feel like a bad person because you can turn things around.

I'd look into energy prices like already been suggested, or ways to cut back on what you're using. Energy bulbs, making sure you're turning things off etc. Going around your home to make sure the heating is working properly, you can find tips for this on youtube along with instructional videos on bleeding radiators

Same with your phone and internet. We pay £15.40 a month for our line rental (plus evenings and weekends) and unlimited internet package.

Could you change pet insurance? I have my pooch on £5.99 p/m and I got £45 cashback with the policy making it more like £26.88 for the year. It's good coverage too

Have you looked at online companies for your contact lenses? Might be a little to trim there!

£240 on groceries might be able to trim down too, if you have a look at the Old Style part of the forum they have lots of tips for cutting back and making things last. We're a 2 person household and if needs must can cut back to £150 a month on our food bill (and I won't lie, we're foodies!)

Is Check my File essential? Would be £96 saved a year if you could cancel it.

Is the funds for the vets essential if you have insurance? Or is it for things like yearly boosters etc? You might want to think about having a pot where you can save up whatever the excess amount is. There's also a scheme my vets does called Vacs for Life. I think it's something like one payment of £99 and you're covered for yearly boosters and health checks for life. Again, depends how many pets you have but it might be something to chew on!

Would 100% cut the hairdressers too. Either go less often to the place you currently go too or switch to something cheaper if you really do need to cut your hair every month. I'm cheeky and just dye my hair at home, and cut it myself, but I know how hair does effect peoples confidence/mood so if it is important to you keep it. You could always set yourself a challenge to earn the cost of your cut in extra money every month!

I think it's great that you have an emergency fund for things, when you start your debt free journey you'll probably find things are a little tighter than normal so it's good you've thought about having something to fall back on if you need it

longtermplanner

vics1928 wrote: »

And that was meant to say maintance

haha That crosses a thing off my list of things you have forgotten doesn't it!

[Deleted User]

vics1928 wrote: »

Income 2 adults - 1910 all monthly

Rent - 625
Carpet / any damages pot 10 - Why have you got this, when you have contents insurance?
Council Tax 125 - If this is over 10 months, going to 12 months will reduce it by £10-84.
Water rates 40
Gas and electric 130 - This is high. If not paying off arrears, then check comparison sites for a cheaper deal.
TV subscription 10 - Go Freesat/Freeview and save £120 pa.
Internet /phone 36 - Should be able to get that a bit cheaper. Check U-Switch.
Simply health 44
Pet insurance 28 - Seems a bit high. More than one pet? Pre-existing condition?
Specsavers contacts 18
TV license 12
Partners phone 40
My phone 50 ( both still have year to run)
Car insurance 90 ( changed car after plan took out up for renewal March)
Bike insurance 42 ( again in may)
Mifi broadband 25 ( going next month)
Contents insurance 15
Check my file 8 - What's this?
Just giving 10 - What's this?

Hair cuts 24 - This is £288 pa. Could be trimmed (no pun intended) a bit.
Entertainment 20
Car main ace 40 Inc bike
Fund for vets 12

Fuel 120 - needed

Food 240 - Could probably trim a bit off this. Aim for £200 max.

Emergency pot 11 - Might want to up this a bit.

1715 total - but could someone please check I am dyslexic and not very good at math

Thanks so much

My comments in red.

The emergency fund equals only £132 pa.

I'm guessing some of your essential appliances (cooker, washing machine, fridge freezer etc.) would cost more than that to replace.

[Deleted User]

vics1928 wrote: »

I have just been looking into offering 50% of the balance to some of the smaller ones but they are the same company as the larger ones??

The only ones likely to accept reduced settlements, are the ones in default and sold on to DCAs.

[Deleted User]

vics1928 wrote: »

can see on here some people paying 40 a month don't know how though!!!

Some of it depends on how much the property is occupied.

I only pay £35 per month, but then I live alone (apart from Buggalugs, and she has a fur coat ), and work 12 hour shifts, so my home is unheated and unlit during the day.

If you and your OH work opposite shifts, that might increase costs a bit, but, even then, £1,560 pa is still :eek:

[Deleted User]

Could you mothball the bike for a while?