New Home & SOA, CAB helping, What about Trust Deeds?

wordsfan

Hi Guys

I know I've not been on for a while but things been kinda crazy.

Below is new SOA as I have moved and now have cheaper rent and council tax and transport to work:

Income Source Amount in £
Basic Salary 914.34
Maintenance Received 200
Child Benefit 72.40
Tax Credits (Working and Childcare) 526.07

Total Income 1712.81

Expenditure Details Amount in £
Rent 400
Contents Insurance (yet to be arranged) 11
Council Tax and Water Rates (in arrears) 110
Electricity 25
Telephone (Mobile only) 20
Public Transport 60.70
Housekeeping (inc Laundry Expenses) 160
Hairdressing 20
Clothes and shoes 40
School Meals (Winter Only) 35
TV Licence 20
Childcare 250
Emergencies 2
Liability Order 21.67
Flights for Daughters Contact Visits with father (meet each other halfway on costs) 120
Housing Benefit (Oct payday last payment) 2
Council Tax (Old old address) 15
Social Life (single mum working full time so what's this?) 20

Total Expenditure 1553.37
Disposable Income (to Oct) 159.44
Disposable Income 359.44

Total outstanding debt as at Sep 07 £8500

So things should in theory be easier!! :T

Also I saw my local CAB a couple weeks ago and they're gonna act as my "debt boss" and deal with creditors for me - though I need to chase them and update them (I'm thinking as I type).

Also CAB told me about something called a Trust Deed which is apparently near Scots equivalent to IVA. I really wanna be sorted by August next year to go teacher training. Wondering if Trust Deed will help me achieve this.

I'd love to hear from anyone with experience of these? Especially as its something I've not heard of before.

Looking forward to getting loadsa replies.:rotfl:

CLAPTON

could you clarify a few things

a. can you check your spending items incase you have a typo somewhere as I only get the total to 1331 which would leave 380 for debt repayments

b. why is the amount available for debts increasing in October?

c. can you list the debts and give the minimum monthly repayments and the APRs

d. are any of the debts with DCAs and if so give the details i.e. interest frozen etc.

e. and can you say why you can't simply pay the debts back as you seem to have a debt free day in 2010 which isn't too bad.

wordsfan

a - copied and pasted SOA from word doc and it's not quite right - emergencies should be £25 and Housing Ben arrears £200 (only 2 more payments, old council got bailiffs involved so had no choice but to pay in 3 months)

b - actually from November payday as Housing Benefit payments last one is october payday

c - not got with me today - but can dig em out for tomorrow hopefully - not got monthly payment details or interest as companies concerned just seem to keep sending me bills/nasty letters re full amounts

d - What's a DCA?

e - I've calculated debt free day in 2009 - how did you work it out? anyway, I wanna do teacher training next year and so need to be either debt free or not much debt left by then. I'm already 35, had planned to finish teacher training this summer but illness and debt prevented that. Hate not teaching- its really getting me down not being able to do what I wanna do and having to work long hours and not see DD - so its a personal aim really.

Meanwhile - thanks for reply