Stuck and needing help.

peteuk

Weve been on a Dmp for 2 years now, and things are going ok. However im getting down and need a kick start. Any advice is welcomed. (ive left off the pence bits)

Debt Start Current Payment
First Direct 1563 1115 33
First Direct 500 258 14
LLoyds Loan 7474 7442 124 (must be wrong start)
LLoyds Loan 21500 20473 174
Lloyds CC 3070 2408 32
RBS 356 209 8
Lewis (Next) 565 316 17
Credit Solution 7570 6420 80
La Redoute 176 21 8
Hitachi 1150 NIL
Capital One 355 NIL


Total 45000 38700 580

Outgoing

American Life (insurance) 5.95
CCCS 589
Family Xmas saving club 20
Fitness first gym 31 (Wifes might cancel)
Home Insurance 21
RAC 13
Car Insurance 32
Scotish Widow (insurance) 9
SE Gas 30
Sky 36
Southern Electic 40
Standard Life (Pension) 20
TV Lience 12
Welcome Car Finance 220

Childcare 400
Mobile X2 40
Rainbows 7.5
Sliming World 22.5
Grolier 10
Vertabadet 7

Total 1603
Income 2643

Left 1040

So after food and petrol, why am I still skint.

Pete

HairyHandofDartmoor

You need to keep a spending diary to see where the money is going. Take a small notebook every where you go and write down every spend no matter how small. You will soon see where the money is going!

peteuk

Weve paid just over 10000 and in turn its paid off 7000. So we are still on for a 2012 finish.

Pete

southernscouser

How many of your creditors are still charging you interest? :think:

Are you in a position to offer reduced full and final settlements on the smaller debts like First Direct, Lewis etc?

peteuk

All the banks are still charging interest, Lloyds, Bank of Scotland and First Direct.

We have no current savings, however we are trying a £20 a week spending cap. We have two accounts with our bank, one for DD and regualar paymentd and then the other has £40 put in it a week. What doesnt get spent gets put into the Savings account.

Only started this in Aug and we have £50 to put into the savings account.

Wish we could pay off early.

Pete

southernscouser

Should of asked this first but who is your DMP with?

peteuk

the dmp is with the CCCS, we have just had our second annual review, and they have kept the payments the same. At first they wanted to increase the payment by £40, however as we were sorting out the second account they kept it the same.

Can we occassionally put extra into the DMP?

Pete

izzybusy23

peteuk wrote: »

Weve been on a Dmp for 2 years now, and things are going ok. However im getting down and need a kick start. Any advice is welcomed. (ive left off the pence bits)

Debt Start Current Payment
First Direct 1563 1115 33
First Direct 500 258 14
LLoyds Loan 7474 7442 124 (must be wrong start)
LLoyds Loan 21500 20473 174
Lloyds CC 3070 2408 32
RBS 356 209 8
Lewis (Next) 565 316 17
Credit Solution 7570 6420 80
La Redoute 176 21 8
Hitachi 1150 NIL
Capital One 355 NIL


Total 45000 38700 580

Outgoing

American Life (insurance) 5.95
CCCS 589
Family Xmas saving club 20
Fitness first gym 31 (Wifes might cancel)
Home Insurance 21
RAC 13
Car Insurance 32
Scotish Widow (insurance) 9
SE Gas 30
Sky 36
Southern Electic 40
Standard Life (Pension) 20
TV Lience 12
Welcome Car Finance 220

Childcare 400
Mobile X2 40
Rainbows 7.5
Sliming World 22.5
Grolier 10
Vertabadet 7

Total 1603
Income 2643

Left 1040

So after food and petrol, why am I still skint.

Pete

Can't see payments for mortgage or rent on your SOA.. so maybe you don't have that much left over each month after all?

chevalier

High there
Couple of things.
Can't see any payment for food
Give up sky and go to the gym more, or give up both (save £60), which could pay off your smaller debt in two months

Give up Grolier and Verbaudet. Books from charity shops for pennies, verbaudet (if you really have to) from ebay.

Have you ebayed everything not nailed down?

Can you reduce your mobile package and only use for emergencies.

Does you employer do a nursery voucher scheme? Would save on child care. If they don't can you suggest it?

chev

peteuk

Dont pay a morgage, rent is taken from my wage.

Dont seem to be able to sell on ebay at the moment, put some clothes on but no one bid.

Childcare is with childminder, will be cutting down in June when Son turns 3 and gets free voucher for local play group.

Sorry......

Pete