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stevezero
Posts: 11 Forumite
Is it possible to post my income and outgoings to get advice?
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Comments
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Morning,
Welcome to the forum,
Yes it is, follow this link, there is a calculator and other useful info for you:
https://forums.moneysavingexpert.com/discussion/562271
It may help also if you tell us a little more about your situation.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thanks Sourcrates
My partner is out of the country for 3 months, I have an income of £18k and debts of £44k. Without debt my outgoings currently exceed my income by £100. With the debt repayments my outgoings exceed my income by £750.0 -
Hi steve,
fill in the SOA, you are in the right place for advice.£1000 Emergency fund No90 £1000/1000
LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
!0 -
Thanks Andyfromotley. SOA?
I have completed the budget planner - income £1250, outgoings £19000 -
Thanks Andyfromotley. SOA?
I have completed the budget planner - income £1250, outgoings £1900
"Statement of affairs", look on the link i posted, and it will say "click here" for S.O.A calculator.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
SOA
[tt]Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1250
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1250
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 498
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 39
Gas..................................... 74
Oil..................................... 0
Water rates............................. 21
Telephone (land line)................... 25
Mobile phone............................ 25
TV Licence.............................. 30
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 5
Petrol/diesel........................... 240
Road tax................................ 30
Car Insurance........................... 35
Car maintenance (including MOT)......... 5
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.................. 1102
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 3000
Total Assets............................ 6000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................29000.....350.......14
credit card....................14000.....250.......18
Total unsecured debts..........43000.....600.......-
Monthly Budget Summary
Total monthly income.................... 1,250
Expenses (including HP & secured debts). 1,102
Available for debt repayments........... 148
Monthly UNsecured debt repayments....... 600
Amount short for making debt repayments. -452
Personal Balance Sheet Summary
Total assets (things you own)........... 6,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -43,000
Net Assets.............................. -37,000
[/tt]0 -
SOA
Electricity............................. 39
Gas..................................... 74 This is very high for one person. We pay £40 for both gas and electricity combined in a 2 bedroom house.
Telephone (land line)................... 25 Is this necessary if you have a mobile phone?
Mobile phone............................ 25
TV Licence.............................. 30 This should be £12.12 a month, can you get rid and not watch BBC?
Groceries etc. ......................... 0 Do you not eat?
Petrol/diesel........................... 240 That's 20% of your wage, huge. If this is for commuting could you look at public transport? If not then you may be better off getting a new job closer to home.
Road tax................................ 30 £360 a year? What car do you have?
Contents insurance...................... 0 Zilch? What if there is a flood or fire? Can you afford to replace everything?
Presents (birthday, christmas etc)...... 0 Is this realistic? You do not buy anybody anything?
Haircuts................................ 0 Guess you either don't have any hair or have very long hair?
Entertainment........................... 0 Boring life?
I have put in red some comments. Two things, your car is costing you a fortune. Secondly you have some very large debts, what was this spent on? I think your primary reason for being in debt is not being realistic on what you actually spend. You need to dig out bank statements from the last few months and work out exactly how much you have been spending on what it has been spent on. No point doing an SOA on estimated figures. Most people who do that spend more than they think and end up being further in debt.0 -
MrWillyWonka wrote: »I have put in red some comments. Two things, your car is costing you a fortune. Secondly you have some very large debts, what was this spent on? I think your primary reason for being in debt is not being realistic on what you actually spend. You need to dig out bank statements from the last few months and work out exactly how much you have been spending on what it has been spent on. No point doing an SOA on estimated figures. Most people who do that spend more than they think and end up being further in debt.
TV licence is nothing to do with watching BBC0 -
Ok, you can juggle around your essential outgoings and you will find there is little to be cut from it, once all areas are addressed.
The elephant in the room is the 29k loan, and 14k credit card.
It's clear these are unaffordable to you, how old are these accounts ?
Is the loan really unsecured ? For that amount ?
I would advise giving either National Debtline or Stepchange a ring, both offer free debt advice and solutions.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
glentoran99 wrote: »TV licence is nothing to do with watching BBC
My bad, you are correct. I always assumed that as it pays for BBC it was related to BBC channels only. Now I can see the unfairness of this system!0
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