need help

free_but_in_crap

Hi I need some advice please.

I have just split with my abusive ex all my savings went on paying deposit on new flat I have run up credit cards and catalogues to buy furniture but now I'm struggling to pay I have done the things suggested by others on the forum swapped gas/electric, had water meter fitted, meal plan.

I am trying to reduce my catalogues and cc to more affordable amounts but struggling my debts are approx £3000 so not large but still hard when I not used to paying everything on my own.

Any advice would be greatly appreciated.

Pixie5740

First off, welcome to the forum.

A good place to start is putting together a statement of affairs. That will give you a clear idea of exactly where you are financially.

The important thing is that you keep paying your priority bills such as rent/mortgage and council tax. If after paying your priority bills you don't have enough left over to pay your debts then contact one of the debt charities such as Step Change or CAP.

happy_bunny_2

Step change have an online calculator that you can fill out and it will suggest a route to take.

rising_from_the_ashes

Well done you for taking such a big step :T

Of course things are tough just now but def worth it in the long run

If you can pop up the completed SOA it will help people steer you in the right direction

If you do need anything else - try the free / local buying sites first - you can often pick up furniture appliances etc reasonably cheaply on there.

free_but_in_crap

I have worked out a budget and managed to reduce my bills from 2100 to1800 pcm but I only earn 1620.

I have now paid down some of my cc is it wise to use this to pay down other debts 0% Apr or would this just put me further in debt (use peter to pay Paul)

Dansmam

So happy for you being free - good on you! Dealing with the money c**p, personally I think 0% is fine to get through a difficult time, but you need to plan to be rid of it or move it before any interest kicks in. Wishing you all the best.

free_but_in_crap

Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,317.33
Benefits (Inc. Child Benefit/Tax Credits). . . . . . . . . . . 307.67

Monthly Expense Details

In Your Home

Mobile phones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.00
TV licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.00
Home phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Cleaning products......... . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37.00
Council tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58.00
Bank account fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.00
Home insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500.00
Life insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Food and household shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 173.33
union . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.00

Motoring & Public Transport


Rail/Buses/Taxis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156.00

Debt Repayments

Credit card repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.00
Hire purchase repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 39.00
Personal loan repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 67.00
marisota. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48.00
jd. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00
ambrose . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32.00

Savings & Investments

Pension payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.00
Regular saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33

Family

School meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00
Pocket money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86.67
Laundry/Dry cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.00

Entertainment

Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.00
Family days out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00

Clothes, Health & Beauty

Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.33
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.58
Work clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
New children's clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
New clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.17
prepay prescription . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00

Big One-Offs

Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.33
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00

Odds & Sods

Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.33

Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,625.00
Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,801.08

free_but_in_crap

The above list is for bus passes for myself and my son
I based my water on current unmetered bill but had meter fitted so hoping it will drop
I currently get 25% sole occupancy discount council tax
I can't get any other rent/council tax rebate or free meals for son at college as I earn too much

Any suggestions would be greatly appreciated.

free_but_in_crap

Dansmam wrote: »

So happy for you being free - good on you! Dealing with the money c**p, personally I think 0% is fine to get through a difficult time, but you need to plan to be rid of it or move it before any interest kicks in. Wishing you all the best.

Thank you its 0% till DEC 2016, my loan will be paid off in July so I won't be renewing it and will put money to pay other debts but July seems along way off

andyfromotley

swapping debt to 0% is HIGHLY recommended. Just make sure thou don't run up the cleared debt again.

Also be aware that if you won't have cleared the 0% by the end of the deal you must be able to switch it or it will revert to a very high interest rate. So if you won't have cleared it and your credit rating is shot it could leave you in a pickle.

MEM62

We done for taking some very brave steps.
A couple of things for consideration - giving up smoking would have you quite a bit. Also, do you need to be a Union member? Also, you should be able to get a sim-only deal on your mobile for less than £10 a month.