Terrified

Bobarella

Hi Cheryl
Just to say, good luck with everything. It is so hard sometimes I really hope you will start to feel better soon.

I noticed your combined gas & electricity bill is quite high. Ours was just £60 for this last month, thats for a 3 bedroom, small, terrace house, we are the same family size as you I notice. We are with First Utility. Might be worth a look?

Bob

cherylclarke

Thanks Bobarella, I agree it is pretty high. We are tied in to a fixed rate till August 2015 and then I will definitely look at switching.

chevalier

Hi there welcome to the boards. Can I just check whether the expenses you have listed below are you actual spends, or what CAP have said you can have against each type of expenditure? Either way my comments are below.

cherylclarke wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1277.02
Partners monthly income after tax....... 2250.63
Benefits................................ 82 (Child Benefit)
Other income............................ 0 Any chance of upping your income, eg surveys, selling broken gold, doing carboot, ebay?
Total monthly income.................... 3609.65

Monthly Expense Details
Mortgage................................ 683.6
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 146 Is this over 10 or 12 months, if 10 then ask to switch to 12 to even things out a bit more.
Electricity............................. 40
Gas..................................... 64 I am guessing this is for heating and hot water? You can get this down by making the hot water a bit less hot, and decreasing the temp setting in the house. Even a degree centigrade less on the indoor temp will save you about 100 pounds a year...Also make sure your house is as efficient as it can be. Do you qualify for an insulation grant? What about making sausage dogs out of rags to stop drafts coming under the outer doors? Don't forget now it is coming into winter, to pull curtains before sunset, to keep as much warmth in the house as possible.
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 100 (both mine and Husband) Ouch, can you go pay as you go instead, or drop a tariff?
TV Licence.............................. 12.55
Satellite/Cable TV...................... 57 (includes Broadband and Phone) Can you get this cheaper? Sky quite often give discounts if you threaten to leave.
Internet Services....................... 0
Groceries etc. ......................... 240
Clothing................................ 30
Petrol/diesel........................... 100 (I have to commute by car)
Road tax................................ 13.75
Car Insurance........................... 28
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 64 (Husband's bus pass)
Childcare/nursery....................... 240
Other child related expenses............ 42 (School Lunches)
Medical (prescriptions, dentist etc).... 58.60 (Dentist and Glasses etc)
Pet insurance/vet bills................. 20
Buildings & Contents insurance..................... 19.62 when it comes to all these insurances, make sure you check you are getting the best deal at renewal time. Also if you take out new policies via a cash back site like Quidco or Topcashback then you could get a rebate too.
Life assurance ......................... 8.58
Other insurance......................... 63.12 (Mortgage Payment Protection) This seems quite high.
Presents (birthday, christmas etc)...... 50
Haircuts................................ 35
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 15
Charitable Giving....................... 10
Savings................................. 40
Union Fees.............................. 11.56
British Gas Homecare.................... 36.9 Ouch do you get good value out of this? It seems alot.
Total monthly expenses.................. 2304.28


Assets
Cash.................................... 0
House value (Gross)..................... 160000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 162000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 123000...(683.6)....Not sure of APR but less than 5%
Total secured & HP debts...... 123000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
CAP Money......................34000.....1037......0
Laptop Repayments x 2..........302.05....60.41.....Not sure of APR
Loans from family..............7500......150.......0
Total unsecured debts..........41802.05..1247.41...-


Monthly Budget Summary
Total monthly income.................... 3,609.65
Expenses (including HP & secured debts). 2,304.28
Available for debt repayments........... 1,305.37
Monthly UNsecured debt repayments....... 1,247.41
Amount left after debt repayments....... 57.96

Personal Balance Sheet Summary
Total assets (things you own)........... 162,000
Total HP & Secured debt................. -123,000
Total Unsecured debt.................... -41,802.05
Net Assets.............................. -2,802.05

Good luck with your debt busting. I am assuming that you don't have an emergency fund at the moment, so any savings that you can make on your expenses should go to setting one up. That way you have a buffer if something goes bang!
chev

chevalier

Hi there welcome to the boards. Can I just check whether the expenses you have listed below are you actual spends, or what CAP have said you can have against each type of expenditure? Either way my comments are below.

cherylclarke wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1277.02
Partners monthly income after tax....... 2250.63
Benefits................................ 82 (Child Benefit)
Other income............................ 0 Any chance of upping your income, eg surveys, selling broken gold, doing carboot, ebay?
Total monthly income.................... 3609.65

Monthly Expense Details
Mortgage................................ 683.6
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 146 Is this over 10 or 12 months, if 10 then ask to switch to 12 to even things out a bit more.
Electricity............................. 40
Gas..................................... 64 I am guessing this is for heating and hot water? You can get this down by making the hot water a bit less hot, and decreasing the temp setting in the house. Even a degree centigrade less on the indoor temp will save you about 100 pounds a year...Also make sure your house is as efficient as it can be. Do you qualify for an insulation grant? What about making sausage dogs out of rags to stop drafts coming under the outer doors? Don't forget now it is coming into winter, to pull curtains before sunset, to keep as much warmth in the house as possible.
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 100 (both mine and Husband) Ouch, can you go pay as you go instead, or drop a tariff?
TV Licence.............................. 12.55
Satellite/Cable TV...................... 57 (includes Broadband and Phone) Can you get this cheaper? Sky quite often give discounts if you threaten to leave.
Internet Services....................... 0
Groceries etc. ......................... 240
Clothing................................ 30
Petrol/diesel........................... 100 (I have to commute by car)
Road tax................................ 13.75
Car Insurance........................... 28
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 64 (Husband's bus pass)
Childcare/nursery....................... 240
Other child related expenses............ 42 (School Lunches)
Medical (prescriptions, dentist etc).... 58.60 (Dentist and Glasses etc)
Pet insurance/vet bills................. 20
Buildings & Contents insurance..................... 19.62 when it comes to all these insurances, make sure you check you are getting the best deal at renewal time. Also if you take out new policies via a cash back site like Quidco or Topcashback then you could get a rebate too.
Life assurance ......................... 8.58
Other insurance......................... 63.12 (Mortgage Payment Protection) This seems quite high.
Presents (birthday, christmas etc)...... 50
Haircuts................................ 35
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 15
Charitable Giving....................... 10
Savings................................. 40
Union Fees.............................. 11.56
British Gas Homecare.................... 36.9 Ouch do you get good value out of this? It seems alot.
Total monthly expenses.................. 2304.28


Assets
Cash.................................... 0
House value (Gross)..................... 160000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 162000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 123000...(683.6)....Not sure of APR but less than 5%
Total secured & HP debts...... 123000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
CAP Money......................34000.....1037......0
Laptop Repayments x 2..........302.05....60.41.....Not sure of APR
Loans from family..............7500......150.......0
Total unsecured debts..........41802.05..1247.41...-


Monthly Budget Summary
Total monthly income.................... 3,609.65
Expenses (including HP & secured debts). 2,304.28
Available for debt repayments........... 1,305.37
Monthly UNsecured debt repayments....... 1,247.41
Amount left after debt repayments....... 57.96

Personal Balance Sheet Summary
Total assets (things you own)........... 162,000
Total HP & Secured debt................. -123,000
Total Unsecured debt.................... -41,802.05
Net Assets.............................. -2,802.05

Good luck with your debt busting. I am assuming that you don't have an emergency fund at the moment, so any savings that you can make on your expenses should go to setting one up. That way you have a buffer if something goes bang!
chev

Bobarella

cherylclarke wrote: »

Thanks Bobarella, I agree it is pretty high. We are tied in to a fixed rate till August 2015 and then I will definitely look at switching.

Your welcome. Good luck Cheryl.

traceydc49

Hi Cheryl just to let you know CAP are fantastic, they speak to you like a person & not a number, been with them for a few years now & they are always there if you need them, cant fault them to be honest, their lovely & genuine & are more like friends , they will look after you, can'tbrag them up enough so don't worry x

chevalier

Hi there welcome to the boards. Can I just check whether the expenses you have listed below are you actual spends, or what CAP have said you can have against each type of expenditure? Either way my comments are below.

cherylclarke wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1277.02
Partners monthly income after tax....... 2250.63
Benefits................................ 82 (Child Benefit)
Other income............................ 0 Any chance of upping your income, eg surveys, selling broken gold, doing carboot, ebay?
Total monthly income.................... 3609.65

Monthly Expense Details
Mortgage................................ 683.6
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 146 Is this over 10 or 12 months, if 10 then ask to switch to 12 to even things out a bit more.
Electricity............................. 40
Gas..................................... 64 I am guessing this is for heating and hot water? You can get this down by making the hot water a bit less hot, and decreasing the temp setting in the house. Even a degree centigrade less on the indoor temp will save you about 100 pounds a year...Also make sure your house is as efficient as it can be. Do you qualify for an insulation grant? What about making sausage dogs out of rags to stop drafts coming under the outer doors? Don't forget now it is coming into winter, to pull curtains before sunset, to keep as much warmth in the house as possible.
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 100 (both mine and Husband) Ouch, can you go pay as you go instead, or drop a tariff?
TV Licence.............................. 12.55
Satellite/Cable TV...................... 57 (includes Broadband and Phone) Can you get this cheaper? Sky quite often give discounts if you threaten to leave.
Internet Services....................... 0
Groceries etc. ......................... 240
Clothing................................ 30
Petrol/diesel........................... 100 (I have to commute by car)
Road tax................................ 13.75
Car Insurance........................... 28
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 64 (Husband's bus pass)
Childcare/nursery....................... 240
Other child related expenses............ 42 (School Lunches)
Medical (prescriptions, dentist etc).... 58.60 (Dentist and Glasses etc)
Pet insurance/vet bills................. 20
Buildings & Contents insurance..................... 19.62 when it comes to all these insurances, make sure you check you are getting the best deal at renewal time. Also if you take out new policies via a cash back site like Quidco or Topcashback then you could get a rebate too.
Life assurance ......................... 8.58
Other insurance......................... 63.12 (Mortgage Payment Protection) This seems quite high.
Presents (birthday, christmas etc)...... 50
Haircuts................................ 35
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 15
Charitable Giving....................... 10
Savings................................. 40
Union Fees.............................. 11.56
British Gas Homecare.................... 36.9 Ouch do you get good value out of this? It seems alot.
Total monthly expenses.................. 2304.28


Assets
Cash.................................... 0
House value (Gross)..................... 160000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 162000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 123000...(683.6)....Not sure of APR but less than 5%
Total secured & HP debts...... 123000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
CAP Money......................34000.....1037......0
Laptop Repayments x 2..........302.05....60.41.....Not sure of APR
Loans from family..............7500......150.......0
Total unsecured debts..........41802.05..1247.41...-


Monthly Budget Summary
Total monthly income.................... 3,609.65
Expenses (including HP & secured debts). 2,304.28
Available for debt repayments........... 1,305.37
Monthly UNsecured debt repayments....... 1,247.41
Amount left after debt repayments....... 57.96

Personal Balance Sheet Summary
Total assets (things you own)........... 162,000
Total HP & Secured debt................. -123,000
Total Unsecured debt.................... -41,802.05
Net Assets.............................. -2,802.05

Good luck with your debt busting. I am assuming that you don't have an emergency fund at the moment, so any savings that you can make on your expenses should go to setting one up. That way you have a buffer if something goes bang!
chev

cherylclarke

Thanks everyone for your advice, will definitely take a look at the budget again. You can tell I'm not used to budgeting. The figures quoted are after CAP advised us, but have adjusted a couple to reflect what we have actually been paying to date.

Council tax quoted is over 10 months, gas is too high really and am working on reducing this. I hate being cold but probably could stand turning the heat down a notch or two! We have gas central heating, combi boiler. Mobile phones are way too high, and husband's bill is round £60 a month so he will be looking to change tariff. Sky is high, but it does include the phone and broadband. We sort of justified this cost as we don't go out at all due to lack of funds, so this is our entertainment. Homecare is quite a lot, covers boiler, heating, electricity and plumbing. I'm a bit scared to get rid of it because we have had to use it quite a lot, but will definitely look at cheaper alternatives.

Tracey - great to hear from someone else with experience of CAP. They have been great so far. As everyone on here can understand we have been under so much stress with the situation, and they have done so much to make things easier and help us to find a way forward. I'm not religious as all, but that has never been an issue they are just genuinely lovely people.

Thanks so much again!

Pixie5740

I have a Sky TV package with home phone and broadband. I'd always wondered what it would be like to have Sky and now I know, expensive and hundreds of channel of crap.

My home phone and broadband contract ends this months so I switched to Plusnet for a better deal and got cash back using https://www.TopCashback.co.uk

My Sky TV can be cancelled at the end of April and then I'm going to get Netflix. £5.99 a month versus £33. No competition.

Good luck on your debt free journey.

Ellieseleven

Good Luck Cheryl, we had almost £46,000 of debt at the start and I was sick with worry. I had never missed a payment but had no money and the thought of not being able to meet the monthly payments weighed heavily, I couldn't sleep or function properly for fear of what was going to happen to us.

A DMP has been the best thing to happen to us (we are with Stepchange, who have been great), it's a bit bumpy at first whilst everything is being sorted out but then usually things settle down and you can have a life again.

Four years in, we budget properly, we don't go without essentials and most importantly we sleep well and are not under constant pressure or stress.

The great thing for me is that I can see an end to the debt, I always worried that I would still be paying off debt well into my retirement but now I know that it will be all gone and I can look forward to a brighter future.

This forum is also my lifeline and helps to keep me on track and motivated:T

I wish you well on your journey

Take care
Ellie xx