SOA - Please Help Me!!!!!!!!!!!!

Eyepunky

Hi All, kinda new to the board, but I have been lurking for awhile.

My circumstances are quite bad at the mo, have a look below as any help would be great!!!

Current Debt: 14.5K

SOA:

260 - Rent
100 - Car Insurance
160 - Hire Car
170 - Natwest loan (8k outstanding)
60 - Virgin Credit Card (3K oustanding)
70 - Virgin Loan (2.5K outstanding)
30 - Mint and Natwest C/C (0.5K oustading)
100 - Petrol (£25 pw)
120 - Spend per month (£30 pw)

Which leaves me £30 Per month!!!

I take home about £1100 per month

This is quite despressing at the mo, as only £30 to spend on extras per week, Ive had this debt for about 8 years and now i want rid as soon as possible.

My hire purchase is due to end in december, so i can buy a normal car which will give me an extra £150 per month, but still £180 per month is not much to live on.

I am current in the process of reclaiming bank chagres as well;)

But if theres any help you can give, it would be ace!!

Thanks dudes.

Karmacat

Hi eyepunky
Welcome to the boards. Just looking over your soa - is the "hire car" one that you're purchasing on hire purchase, or one that you're hiring per week?

Plus £100 a month seems very expensive for car insurance, can you go via quidco and see if you can find it cheaper?

You've got a few credit cards in there, what kind of APR are they on? Any chance you can get a 0% transfer, or a low Life of Balance rate?

Can you get a 2nd job part time over the summer, maybe, to help out? Overtime?

I can understand you wanting to get the figures down, you don't seem to have much leeway. Good luck.

Eyepunky

Hi,

The hire purchase was for a year, a bloomin BMW Z4, the insurance was the cheapest I could find.

Also tried to transfer C/Cards, but due to missing a few payments a few years ago, I can't seem to find one that will accept me.

Feels like a up-hill struggle at the moment, I think a part time job is the way to go.

lynzpower

the most important thing is to batten down your SOA.

you need to write into it, all the things you spend on - even if they are annual ( eg Xmas presents) and monthly (haircuts? prescruiption? clothing?)
and of course all the stuff like food, newspapers, coffees, going out etc.

What did you spend the debt on ?

Eyepunky

The debt was spent on living against my means, and also not knowing how to say "NO" to people, going out, holidays, etc, etc. And nothing to show for it now.

My weekly spend (£30) only equates to £10 for food and £20 on other bits, i.e a few tinnies per week.

RAS

Can you provide xtra info pls.

Eyepunky wrote: »

Current Debt: 14.5K

SOA:

I take home about £1100 per month

260 - Rent - good
100 - Car Insurance - this is high. Check the options and see if you can swap via quidco.
160 - Hire Car - What is this?
100 - Petrol (£25 pw) - can you cut this down , go to work by public transport, car share
120 - Spend per month (£30 pw) - does this include food?

170 - Natwest loan (8k outstanding)
60 - Virgin Credit Card (3K oustanding)
70 - Virgin Loan (2.5K outstanding)
30 - Mint and Natwest C/C (0.5K oustading)

Need the APRS, minimum payments and maximum limits on these, please.

Which leaves me £30 Per month!!!

RAS

Even so, anything that you could put up on e-bay?

Eyepunky

Hi RAS,

My hire purchase is one I took out in January, i'm fixed to a 12 month contract which is up in December, I have a love-hate relationship with it!

Its a sport car, the insurance is the cheapest I could find from about 2 days serching.

Petrol is a must, as i live in remote areas with about 2 buses per day!

I'm unsure of the APRS on the others, i only know the amounts per month, although i do only pay the minumum payments each month

Eyepunky

Nothing really, I only have CDs to my name!

Did have a bit of a ebay business with a friend (and i though this would last), until he decided to keepsthe profits for himself.

We used to buy cheap car parts and flog them for a profit on ebay (making about £50 per week), he then saw the potentional and decided to cut me out........

sunshine_shell

I'm in the same boat, what do you do for a living? could you use these skills to help earn some extra cash??

and did you really need a sports car??

beverleyhills

Eyepunky wrote: »

Hi RAS,

I'm unsure of the APRS on the others, i only know the amounts per month, although i do only pay the minumum payments each month

Should be on your statements, look at the back.

Can you get a part time job?