Debt removal

hign10pines

So got down to my local credit union today to sort out my address and get my membership number. Been paying £10 a month for the last 2 months from my wages. The lady in the store mentioned that the NHS (my employer) is often slow and they haven't received anything yet. Wondering if it is just down to the slowness of my payroll (they are totally crap) or it's worked out that they pay a few months behind.

Just got a full copy of YNAB and I'm finally looking into it more than I have in the past, I love data and list It's looking like I have money left over after all bills are paid, I shall wait till Saturday then pay back some to SafetyNet Credit to try and keep that down.

hign10pines

Playing around with YNAB and I won't have as much left as it looked like yesterday, thats okay, on way or another SafetyNet Credit is going.

I applied for a loan from the credit union today just need to send them over my documentation and hopefully I will be accepted.

Nothing for Natwest yet about my new account, hope to hear something soon as I want to change my bank details at work. I'm thinking of changing them to my lloyds account just incase I don't get the Natwest details in time.

hign10pines

Still nothing in the post today but it could arrive as late as 14:00.

I am going to try and increase my min payments to to credit cards. with Cashplus I had paying £20 and being charged £15 so I'm hoping from next pay I can pay £35 to that & £15 each to the other 3.

The Virgin cc is a bit tricky as it's in my partners name but all my debt (we transferred the balance to a 0% card but I was out of work a few months so needed to use it). I used to be able to log into the account but since Virgin changed I haven't been able to and I can't register with the new site as I have no idea what fake mobile number I used previously lol Oh well I will continue to pay £80 a month and can monitor the balance via noddle & clearscore.

Sending all the documents to the credit union today.

Oh have I mentioned that currently I have £180 in a savings account? I'm saving that as I need a few things doing at the dentist. After that I'm not sure if I should keep it in the savings account or pay it towards a debt.

Loan update: Tried emailing through my documentation today but they are having email server issues so everything is bouncing back if I add an attachment due to 'size' but other emails are fine. Looks like I'm going to have to try & print my items at work and take them in on Monday!

Also got the first of my Natwest documents through today. I needed to send it some ID, thought it would be faster to go into branch, but no they just photocopy and sent off anyways. No sort code or account number for me today Looks like I shall have to give payroll my lloyds details till they arrive.

hign10pines

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1070
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 550
Total monthly income.................... 1620

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 115
Electricity............................. 43
Gas..................................... 52
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 0
Mobile phone............................ 48
TV Licence.............................. 12.12
Satellite/Cable TV...................... 48
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
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........................... 100
Holiday................................. 0
Emergency fund.......................... 0
Freezer cover........................... 1.99
Postcode Lottery........................ 10
Internet hosting etc.................... 21.55
Gym..................................... 37.5
Total monthly expenses.................. 1362.16


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Luma...........................185.......10........31
Capital One....................185.......10........31
Aqua...........................195.......10........49
Virgin.........................2700......80........19
CashPlus.......................245.......20........0
Total unsecured debts..........3510......130.......-


Monthly Budget Summary
Total monthly income.................... 1,620
Expenses (including HP & secured debts). 1,362.16
Available for debt repayments........... 257.84
Monthly UNsecured debt repayments....... 130
Amount left after debt repayments....... 127.84

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,510
Net Assets.............................. -3,510

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

Not included the SafetyNet Credit payment as it will most likely be set as a repayment plan.

hign10pines

Luma = £185.35
Capital One = £189.28
Aqua = £195.05
Cash Plus = £245.43
Virgin cc = £2864 ( November statement)

2016 Debt = £3679.11

Feels stupid that 4 of my debts are under £250 and I can't clear them :eek:

hign10pines

2016 debt aim = £3000 or £250 per month. That is £120 extra each month to find.

Scottishmummy

Hi.
Have you tried snowballing. Have a look at https://www.whatsthecost.com . Aqua is definitely the one to battle first as long as you are also able to pay off the SNC one too.
Good luck and happy new year.

hign10pines

Scottishmummy wrote: »

Hi.
Have you tried snowballing. Have a look at www.whatsthecost.com . Aqua is definitely the one to battle first as long as you are also able to pay off the SNC one too.
Good luck and happy new year.

Yes think I'm going to pay £35 a month to cashplus, £35 to aqua and £10 each to luma & capital one so thats £90 a month instead of £50. Will be paying SN off with my bank shifts and anything over my basic wage if I don't get the credit union loan.

Not quiet the £250 per month but I'll work on it.

Hard to do a snowball when one of the debts (cashplus) is a monthly fee rather than a %

hign10pines

I took out £40 for last night and have £26.50 left :beer: I spent the £13.50 on curry night at Wetherspoons, had 3 pints there then decided to stay home till 23:30 and then go down to the beach to see in the NY. Was a lovely evening and say unexpected fireworks, that drunk groups were letting off on the beach.

YNAB not balanced today as billed due out 1st Jan haven't gone, possibly out on 4th?

So glad I decided to get a new fitbit, been using my garmin for ages and it just wasn't right in the end. Even with the drinking last night I came out with a deficit :T

catriona79

Have subscribed.

Fingers crossed for swifts progress in 2016!

Have you tried doing surveys etc to bring in extra money? Or could you perhaps do a shift in your local supermarket or cafe to find the extra cash?

Good luck, I'll be back to cheer you on!