Please help dont know where to start???

need2bfreeofdebt

Hello all xxxxx

Please can anyone give me some advice, i am so stressed and worried about my situation i do not know where to begin...

My ougoing are as follows....

Rent plus utilities = £990 p.m.

Debt inc credit cards and loans = £1200 p.m.

Our incoming wages plus tax credits = £2300

which leaves us with just over £100 p.m to live on for food and petrol for 2 cars...

we would happily hand in my partners car which costs £360 p.m but beacuse of his agreement with ford credit has to wait 11 months until he has paid half of it off...

our rent p.m costs £560 which is the cheapest we could find in the area.

can anyone advise me on where to start... i keep brushing it under the carpet and hoping it will go away but it wont and i am terrified of where to start.. please help... we have a young child also and dont want to be in this situation forever xxxxx

janegresty

start by writing down how much you spend on your food shopping and cut out anything you don't need like junk food.
then the things that you need find out where they are the cheapest, and get the cheapy buys. for example asda's own baked beans.
buy food you really need rather than want.
and take cash instead of paying by card, it makes you think more before spending. hth.

lemma1968

Go into the first time posting section to see hoe a SOA is done and then post it here for us all to see, warts and all. We may be able to help you to cut back and others will be able to give you advice that will hopefully assist.

You have taken the first step posting here and it will get better..honestly.

Good luck.;)

TillyTrippit

Hi,
just take a deep breath and calm yourself - it is on the way up. Some much more experienced posters than myself will be along to help soon - the kind of people who helped me.
Your utilities - are they in with the rent as a package? If not, have a good look at them, hit quidco and access a price comparison site - you should find lower monthly payments and may even get some cahsback deal.

If you read some of the advice on the SOAs here, it will apply to you too - lower phone/insurance/sky packages etc.

Take care, virtual hug to you - the worst is over - once you have had the lbm it gets better - look at my signature.
Take care of yourself.
Tilly
xx

southernscouser

need2bfreeofdebt wrote: »

Rent plus utilities = £990 p.m.

Can you break this down as it seems you are paying £430 quid odd for utility bills which is huge! :eek:

Does this figure include council tax? :think:

I'mcomingbackasaman

IIWY I'dsit at the kitchen table with a pad/pen and bills/bank statements and write to the companies I owe and ask them to accept a reduced payment until finances are on the up. Then make a list of all the outgoings and see where you can cut back, cross what you want but don't need. Economise with food shopping, bake more, buy necessities in bulk when they're on offer. You could try raising your income by selling on ebay, or finding some work from home if you have young children and can't work outside.
Good luck, don't let it get you down there's a lot of people in a similar position. It's only money - don't let it stress you out too much. Go for walks and get some fresh air or set aside an hour in the day to suit you where you can soak in the bath and see to yourself play uplifting music like Abba.:-) but most of all keep smiling.

need2bfreeofdebt

aw thank u very much for all your caring words.... i am so worried its untrue! We had to sell our house a year ago and paid off most of our debts with the equity which was 30,000 and feel sick at the thought of getting into the situation again.

The problem arised again last year when i was on long term sick with depression and didnt have a wage coming in for 6 months. Im so scared of it happening again and we dont own a house anymore and have equity in it xx

This is the first time ive done this but here goes....!

RENT = £560 P.M

COUNCIL TAX = £120 P.M

WATER RATES = £65 P.M ( DUE TO BEING BEHIND IN PAYMENTS FOR LAST BILL )

GAS = £106 P.M ( BEHIND DUE TO MISSING PAYMENTS )

ELECTRIC = £59 ( SAME REASON AS GAS )

VIRGIN MEDIA = OWE £200 FOR LAST TWO MONTHS THEN USUALLY £50 P.M

TV LICENSE = £10 P.M

gym membership = £30 p.m

CAR LOAN H.P PLAN WITH FORD CREDIT = £360 P.M

PERSONAL LOAN AA ( FOR CAR NO.2 ) = £159 P.M

MY CREDIT CARD = £25 P.M ( £400 OWING )

PARTNER CREDIT CARD 1 = £100 P.M ( £3800 OWING )

PARTNER CREDIT CARD 2 = £80 P.M ( £1600 OWING )

MY CREDIT CARD 2 = £80 P.M ( £2000 OWING )

PARTNERS LOAN £129 P.M ( £3000 TAKEN OVER 5 YRS AT 12.9 APR )

JOINT LOAN £75 P.M ( £4000 TAKEN OVER 5 YRS NOT SURE OF APR SORRY )

DFS = £35 P.M ( FINISHES IN DEC THIS YEAR )

CAR INSURANCES = £90 P.M FOR TWO OF US

IKEA = £15 ( £130 OWING )

TIME RETAIL £32 OWING

NEXT = £35 P.M ( £350 OWING )

BANK ACCOUNT FEES WITH BARCLAYS AND SMILE = £25 P.M

also owe £130 for car service and £200 to a friend

xxxxxx any help greatly appreciated, am so ashamed of the mess we are in xxxxx

I'mcomingbackasaman

Have you tried making an appointment with the Citizens Advice Bureau. Take along a list of your debtors they'll be able to help you sort it out so that you can live and be paying off your bills. Getting further credit is definitely a no no as a way out though. I'm 100% sure of that. You need to increase your income in some way if you want to live as you are now. Good luck with it.

need2bfreeofdebt

thank u imcomingbackasaman xx

i will look into seeing the cab, am just so ashamed though because i might just end up blubbering like a baby in there... xxxxx

i feel sick now that we owe over £15,000 ( just totted it up quickly ) and thats without our car loans... my other half can hand his car in in 11 months time though ( wish it was sooner ) but that should help then xxx what a mess xxxxxxxx

thank u everyone 4 replying and being there....

southernscouser

need2bfreeofdebt wrote: »

i will look into seeing the cab, am just so ashamed though because i might just end up blubbering like a baby in there... xxxxx

Don't be ashamed. You haven't hurt anyone.

Be proud that you are doing something about it.

southernscouser

Who, me?

Edit: Hey, where did you go? I look like I'm talking to myself now! :rotfl: