update of my SOA

kez27

Hi Folks just a wee update of my soa


Incomings: £1250
extra income £50


Outgoings

Mortgage £500
Council Tax £86
Insurance £18.38
Electricity £40.00
Telephone £28.00
Dentist £9.45
Lens £10
Food £40

total £ 731.83

Debts

Credit Card £1084.00
Council Tax 2006 £59.20 (clear AUG)
Additions £15.79 (clear Aug)
Look Again £301.50
Provident £500
Abbey £552 - £260 is overdraft/£292 is bank charges

( sending letter to abbey to reclaim bank charges)

Total debt £2220.49 (including bank charges £2512.49)

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my debt plan is

Aug.

Credit Card £200 (£884)
Additions £15.79 - CLEAR
Council Tax £59.20 - CLEAR
Provident £20.00 (480) pymnt plan
Abbey £40.00 (£o/d 220 / £292 chrges)
Look Again £135 -(166)

Debt Balance £ 1750.00 /(2042 - charges)

September Outgoings / Incomings sept £1400

Mortgage £500
Council Tax £86
Secured Loan £168
Insurance £18.38
Telephone £28.00
Electricity £40.00
Dentist £9.45
Lens £10.00
Food £50.00
Tv £27.00
Total £926.83

Debts

Look Again £100 (66)
Credit Card £300 (584)
Provident £20 (460)
Abbey £40 (180) incl charges (292.00)
Total debts £1290 - including bnk charges £1582)

OCTOBER - INCOMINGS £1400

OUTGOINGS £926.83

DEBTS

LOOK AGAIN £66 - CLEAR
CREDIT CARD £300 (284)
PROVIDENT £20 - (440)
ABBEY £40 - (140) INCL CHRGES (292)

TOTAL DEBTS £930 /£1222

NOVEMBER

INCOMINGS £1400
OUTGOINGS £926.83

DEBTS
CREDIT CARD £284
PROVIDENT £100 (340)
ABBEY £140 CLR (BNKCHRGES (292)

TOTAL DEBTS £340 (INCLUDING BNK CHARGES £632)

REMORTGAGE IN JUNE 2008 AND WILL BE EMALGAMATING THE SECURED LOAN WITH MY MORTGAGE.

angelavdavis

Hi Kez,

Sounds like you have it licked! Did you use the snowball calculator to work out the repayment order?

kez27

Hey Ange, Thanks Yes I Did , Just Going To Pay Most Money Towards My Credit Card Etc As You Can See Above Aim To Be Debt Free By Jan 2008. Woo Hoo!!!!!

How Long Will It Take Once I Have Cleared All The Above In January For My Credit Rating To Improve. Is It Usually 6 Months.??

Hopefully Wont Ever Need To Take Credit Again But May Need To For A Car When I Pass My Test... If I Ever Do. Its On Hold The Now Though Until Am Clear Clear Clear Lol.:d

kez27

hi everyone

just need to know that once i clear my debts as above, can anyone advise me how long it will take for my credit rating to improve from fair to good .

please thanks

angelavdavis

kez27 wrote: »

How Long Will It Take Once I Have Cleared All The Above In January For My Credit Rating To Improve. Is It Usually 6 Months.??

Yes, although it depends how much damage has been incurred in the interim.

Have you been able to get hold of copies of your credit files? Might be worth doing. Basically, any missed payments will stay on the files for a year (for valid live accounts), defaults longer. There is some information here that might help:

http://www.insolvencyhelpline.co.uk/credit-repair/index.htm

In addition, Martin has an article that is useful:

http://www.moneysavingexpert.com/banking/credit-rating-credit-score

Some of my tips:

1) ensure you are on the electoral role
2) ensure you have disassociated yourself from ex-partners who might be on your credit file
3) cancel any credit cards that are no longer active (write to them to cancel and ensure they update the credit file) - this is considered to be available credit" and will count against you if youh apply for anything else.