late payments- too many to remember, I've ruined my chances

Superly_Vince

After much faffing around, I have FINALLY decided to sort myself out. As well as owing the Council £350, Carphone Warehouse £140 (currently with debt collectors), I have a £2000 overdraft.

Thankfully, I don't have any credit cards, but I did have an out standing balance of £1300 with Scottish Power, I have now cleared this. I've previously had an arrestment made on by bank account owning back money to the Council, the balance of this is now cleared.

My problem is sometimes I have miss payments dates, bills are sometimes paid within 7 days of the initial payment date. I've had DDs bounce too.

I've just had the realisation that I've well and truely shot myself in the foot and messed up my credit rating. And now with my pending Police Application I think I've well and truely shafted my chances of being accepted. I'm just so stupid. I've REALLY blown an opportunity of doing something I really, really want to do! I don't think I have any CCJ, although I'm awaiting my credit report.

Is there anything I can do right now to make things better? I have got a new flat mate, so I have some extra money now.

Can anyone give me some advice. I'm not looking to get bollocked at, I just need some help.

GettingThingsDone

Hi Vince - welcome to DFW!

No one is going to b*ll*ck you here, so no worries there.

First step is to sit down, have a cuppa and to accept to a certain extent, what is done, is done. You've done the right thing in getting your credit report - wait until you see that before doing anything hasty. Don't go to any 'credit repair' merchants, for example!

My first plan of attack would be to work out why you've missed payments, bounced DD's etc - do you just need to be more organised? I'm sure you'll get some good advice on here on how to make sure you miss nothing.

When it comes to your Police Application, you'll be more confident in explaining yourself if you have everything organised and straight in your mind.

gtd

lynzpower

Many of us have a seperate account for rent and bills, on a standing order from our usual current account.

Your best bet is to do a budget plan ( or SOA) using martins budget planner at the top of the page. List everything you spend money on and go through your old bills to ework out what you spend in an average month.

then post it up here and lets see what advice we can give.

Gemmzie

Definitely get a copy of all three credit reports and check out if there are any potential problems

clarab_3

Hi Vince, I have a terrible credit record, including at one point a CCJ and 3 defaults.

I had the CCJ cleared, and have since been able to get a job in a bank... credit checked and all.

I cant speak for the police, but I was told at the time that most employers only do a certain level of check that checks for CCJ and legal problems. It may also be worth declaring (as I did) at the time they request to credit check you, that you do not have the best of credit histories, but that it is exactly that, "History" and show how you have made such great efforts to clear it. If there is any leaway, they should look positively on this.

Superly_Vince

Monthly Earnings - £1132
(i've divided the bills between my flat mate and me accordingly)

Rent - £300
Council Tax - £60
Electricity - £10
Land line - £7.50
Internet - £25 (need to review this, I'm the only one who uses it!)
Mobile phone - £35 (I can't reduce this to £20 until December! )

TOTAL - £437.50

Eats/drinks/smokes - £160 :eek:
Travel - £30
Gym - £39 (cheapest I can get being a PT student)
Bank charges and interest - £58! :eek:

The rest is mine - £394.50

Superly_Vince

Is it looking bleak?

mrsspendalot

There seem to be some things missing off your SoA - clothes, prescriptions, haircuts, birthdays/xmas etc. What happens to your £394.50 every month? Is it there or do you spend it? Start a spending diary to see where it goes as that is a lot of money to simply fritter away every month.

Bank charges - have you thought about reclaiming them? The first thing to do is stop incurring them - are they for unauthorised OD or bounced direct debits/cheques? Can you get more organised in order to avoid them?

Stop smoking Also do you use the gym a lot? Is it worth the monthly fee?

I'm sure some others will be along soon with better suggestions xx

Superly_Vince

mrsspendalot wrote: »

There seem to be some things missing off your SoA - clothes, prescriptions, haircuts, birthdays/xmas etc. What happens to your £394.50 every month? Is it there or do you spend it? Start a spending diary to see where it goes as that is a lot of money to simply fritter away every month

.

I don''t really buy birthday presents all that much, no perscriptions, clothes... well the one's i wear need replacing, I can't remember the last time I bought stuff, say may be 2-3 months ago... I'm literarly wearing threads and my trainers are about to go. I go to the hairdressers every couple of months and my toilettries are included in the shopping budget.

Bank charges - have you thought about reclaiming them? The first thing to do is stop incurring them - are they for unauthorised OD or bounced direct debits/cheques? Can you get more organised in order to avoid them?

Bounced DD mainly, and admin charge on the account, I seem to have money in the account but then there's a charge of some sort and then it takes me over my limit going in to an unauthorised OD therefore taking more charges, when my pay goes in there's a substantial amount used to cover the unauthoriused OD! :mad: I can't seem to stop the cycle.

Stop smoking Also do you use the gym a lot? Is it worth the monthly fee?

I don't smoke thankfully. I go to the gym 4 times a week, I also do classes.

I'm sure some others will be along soon with better suggestions xx

Thanks for your help.

mrsspendalot

Ok sorry, its just you had a thing on your budget for eats/drinks/smokes so I thought you must smoke

mrsspendalot

So am I right in thinking that your debts are:

£140 to carphone warehouse
£2000 overdraft
£350 council

Is the council debt council tax? If so this is your priority. Next, settle the carphone warehouse one. With £394.50 'spare' each month this shouldn't be a problem. Then I would start chipping away at repaying your OD.

What monthly payments are you making for debt at the moment?

If I have got your debt situation wrong, sorry, but if you pop up your debts and interest rates etc. then we can have another look