Help Please

jamie1979_2

Hi

I am completley new to this. I have just been on the National Debtline website to try and help organise my debts. The first thing I did was work out my money for creditors. The way I have done it I am getting -£49 a month!!!
What I am going to do? I am up to my eyes in debt and feel like I have no way out. Got a court letter through the post today about a debt with GE Money and I havent even read it yet! I dont think I have put anything in my budget that is unrealistic but I have listed it here incase anyone has any ideas.

Income
Wages £1066 monthly after tax

Outgoings
Rent £200
Council Tax £30
Water £20
Gas £10
Elec £30
Housekeeping inc. food £200
TV Licence £15
Hire Purchase car £230
Petrol £160
Phone £60
Loan £160

Please can someone help?

lynzpower

what does the housekeeping cover, is that food just for you?

jamie1979_2

Hi Lynzpower,

No the housekeeping is for me, my partner and our 2 children.

Thank you

Jamie1979

Kevicho

Hi there Jamie, welcome to the boards.

First question, what are the outstanding balances on loan, and hire Purchase car?

Also are these the only debts?

The only real cutbacks are phone (is this house/internet and mobiles?) and food, the old school board will help you out with cutting this down, with recipes for cheap meals.

Also do the kids take packed lunches or get school meals?

The only other thing is tolook at ways to make money, such as selling as much uneeded stuff as possible (either carboots or ebay) to give you a quick boost to start with.

Best wishes

Kevin

*edit* sorry just noticed petrol, can you cut back on car usage or downgrade to a cheaper car to run?

lindens

You don't seem to have very much money coming in if you have 2 children? Have you remembered to include child benefits and child credit? Check out www.entitledto.co.uk , to check you are claiming for everything to which you are entitled.
Your petrol seems very high, is that for commuting? You are forking out a hell of a lot for your car in total ( petrol etc), is it on HP? Can you maybe sell it and get a cheaper runaround? You haven't uincluded anything in there for MOT servicing either.
Also presents for birthdays and christmas. Just a few questions to be going on with!
Welcome to DFW