OK here goes

rotti163

After dipping in and out of here for a while, I decided to post my SOA:
OUT GOINGS:
Board: £250 (had to move back in with parents)
All loans are unsecured.
Lloydstsb loan: Bal:8540 Term:32 APR:12.9% = £317
A&L loan: Bal:592 Term 8 APR:5.7% = 74
Northern rock loan: Bal: 3500 Term:26 APR:8.9% = 148
A&L C/card: Bal: 6500 APR 12.5% = 151
Diesel: £60
Car insurance: £30
Mobile, contract: £35
Broadband: £14
Road tax: £17
Food,toiletries etc: £40


INCOME: £1200

HELP!!!!!!!!!!!!!!

I think thats everything. I'm sick of fighting tbh, I need to see some light at the end of the tunnel and live some sort of life. Any ideas welcome.

madmoney_2

well u could always ask ur parents to drop the rent a bit!!! from what i see you already pay for ur broadband and food, so i think let them know the situation, draw up a payment plan and show it to them, you might be surprised by the reaction you get! Failing that, try to pay off the ones with the biggest apr first, which looks like ur lloyds loan
hope this helps xxx

cocalls

Hello there
Your contacts and mobile seem a bit high to me if you cant cancel contract of mob phone them to see if they'll do a better deal & reduce tariff. With contacts ive seen people on here getting them for about a tenner.

Good luck

rotti163

Thanx guys. Anything else?

completelyspent

What is the additional £40 for food? If that is for lunches you can cut that down to £10-£15 per month by taking packed lunches.
Also, how essential is the car? Can you sell that or downgrade it? Have you checked you are getting the best deal on your car insurance?

sooziesooz

Only thing I can think of is with road tax @ £17 a month you've obviously got a car with a large engine. Could you perhaps sell the car and buy a smaller engine? That would reduce your tax significantly and probably cheaper on fuel.........

I agree with the other posts about your parents. I'm sure if you present all the facts to them and show how committed you are to sorting things out I think you'll be pleasantly surprised.

Good luck and keep us updated with how you're getting on.

rotti163

The car is an old diesel van I've brought for 200 quid, had to sell my bmw. I wouldn't get anything for it if i sold it , so buying another car would be very hard I think. I need the van, as my work is 10 miles away and no public transport is available.

blossomsuz

Hi rotti163

If I have added up right you have £64 per month left over. What happens to this extra money? Is it saved for car tax ect or does it just dissapear? I would suggest saving a portion and throwing the extra at the card. You might have to stay home for a while rather than go to the pub ect but it will be worth it when your financial status starts to pick up

madmoney_2

you could phone the various loan companies and ask them if they would accept reduced payments for example for 12 months till u get back on ur feet? you can also go to the citizens advice and they can help you more specifically for free
xxx

blossomsuz

also can you not ebay and car boot ect to earn some money to put towards the debt?

Dr_Hook

If you can hold tight for the next 8 months the A&L loan will finish, leaving you with an extra £74 per month to put towards your other debts. Have a look at the snowball calculator on https://www.whatsthecost.com for inspiration.