40k of debt monthyl take home pay 1800 per month...

wannabefreee

deleted thank you

hopeless_case_2

Good for you for coming on this site. I am not in a very good position to help you fully as just posted soa myself.
Could you get your mortgage to interest only for a while to free up some cash to pay your arreas to mbna/ gas etc also your food bill is way too much
if there is only you it should be much less i dont spend that and there are four of us.Meals at work? Take your own £40 per month will pay one of your cards.
Oh and give yourself a pat on the back for kicking the gambling habbit.

Jimsan

I've just done my SOA mate....

I lost £1k gambling with money I havent got.

So i've decided to pull my finger out mate....

Hope it goes well for you..:beer:

wannabefreee

Hi There Thanks For Your Replies...

My Mortgage Was Agreed To Be Repayment For A Tie Of Two Years They Are Not Happy About Me Going Interest Only..i Dont Think Id Ever Bank With Them Again My Only Problem Is With My Current Debts I Doubt Another Mortgage Company Would Touch Me Wen I Come To Renew June 2008... I Asked For A Repayment Holiday But They Said That I Could But The Next Payment Would Be Double If I Took A One Month Holiday! I Dontt Hink I Am Allowed To Mention The Name Of The Bank Here...

My Food Bill Includes Several Items As I Have A Skin Complaint And Specific Dietary Requirements... The Total Amount Covers Things For The Home And Car And Covers Any Items I Need That You Can Get From Tesco Including Weekly Fresh Items Like Bread And Milk Etc....and More Importantly Skin And Hair Products.. I Have Cut Down On Magazines Etc I Added The Extra To Include The Odd Business Meal Which I Have Occasionally-no More Than One A Month

Most Of The Problem Is That I Am A Crap Cook... I Am Learning Tho Especially Seeing As I Have Discovered The Joys Of Pasta!!!...due To My Job And Also Studying I Have Opted For Time Free Meals But You Are Right.... If I Can Sit And Gamble I Can Stand And Cook Meself Something!!! Thanks For The Motivation... I Do Need To Cut Down Here And Stop Focussin On My Lonely Cooking For One And Spend Time Putting More Nutrition Into My Body... Which Will Also Help With My Waistline

The Work Thing... Is Forty Pounds Maximum I Do Not Spend That Every Month On Average I Spend 1.40 A Day Approx £32 A Month... As Sometimes I Will Take Items/meals From Home...


Hope This Clarifies Matters............ I Have Also Started In The Last Few Weeks Clearing My Cupboards Of Stuff Long Forgotten Before The Date Is Up....amazing How Far Warm Cereal Will Stretch I Looked In The Cupboard And Found Two Unopened Boxed Of Rice Krispies Which I Loveeeeeeeeeeeeeeee!

wannabefreee

Mate Together We Willl Crack It... One Things For Sure Ive Gotten Rid Of All My Free Loading Mates And Family Members................ Thats Another Great Money Saving Tip......

taxi73

Just wanted to say Hi and welcome and well done on posting your SOA...it's probably a good idea to talk to ccs as they should be able to help you...good luck

livinginhope

Hi there wannabefree
Just had a quick lookie before I head off for bed
You mention money for the car,but your SOA shows no allowance for fuel/MOT/Tax/insurance?
Your food shopping is well over the top for ONE! we spend the same amount,or less,for 4 of us and I have special dietry requirements.With a little meal planning and careful shopping,you could bring the figure down quite a bit only buy food you need and have planned for a meal,it's amazing how much gets wasted when you don't plan.
I think you should get on the phone to CCCS first thing in the morning and good luck with the next step,well done for facing your problems.
LIH

jo_wales

Hi

I a similar position to you but I have a few suggestions that maybe will help.

Mortgage- I was tied into a 2yr fixed rate but have now gone to interest only and it is with BM so I am already classed as sub -prime. When I asked a financial adviser, all the bank is interested in is how you will repay the loan on interest only... you say 'sale of mortgaged property' You might have to pay a fee to convert but you shouldn't have a problem doing that.

Your other debts, I would suggest the CCCS. They are very helpful and not shocked by anything. I owe about £45K and pay them £150 per month to everyone, they negotiate everything on your behalf and take the stress away. You have an annual review where they go through your budget and as lond as your creditors see you are making a slight increase for the most part they leave you alone. Yes you will probably get defaults against you but I still managed to get a reasonably favorable mortgage even with these and they drop off as far as I am aware after 6 yrs(so roll on 2010). Shop around for your building & house contents. mine is round about 26 a month with Tesco, plus you get clubcard points!

Yes I still struggle and still don't manage to save but at least for the time being my house, council tax and utilities are paid for.

Could you put your mobile on payg as 2 mobiles is a bit excessive on contract. Why £23 tv licence, thought it was about £10 ish.

Could you take sandwiches to work instead of buying meals there? Also perhaps change your gas and electricity to a dual deal to see if it could save you money?


I have found not to buy all your shopping in one place, go to the supermarket for meat and fish, but use Wilkinsons, lidl and aldi for households as they are often hugely cheaper and have lots of BOGOFS. Also your local grocers for fruit and veg and only buy what you know you are going to use.

I hope this has helped and doesn't sound like a lecture!! If only I could practice what I preach! All the very best of luck to you..

Gemmzie

wannabefreee wrote: »

Hi there i am glad i found this board and finally am taking my head out of depression and out of the sand to start to deal with my financial problems...

at the moment i oWn a house valued at 125000 with an outstanding mortgage of 105000, my mortgage is up june 2008 if i get charged penalty of 3145k if i sell now and also £2600 estate agent fees!

i will go through my cccs answers and pOSt them here... i will need to call cccs tomorrow for them to give me my report

my outstanding debts

student loan automatically taken out of my salary = £103 per month outstanding figure between 5-6k

i live on my own and have no children

my take home pay is £1699.00 plus any petrol

mortgage 685 per month - tied in til june 2008 on a 25yr base rate tracker
council tax = 80 per month as i get 25% off as i live alone
tv licence £23 is this in arrears? it should be £11.61
water 21
electricity 25
gas 81 = but this should come down now this is mainly from when i was off work sick and constantly cold!!!
petrol £40
building and contents and ememrgency cover £40 this is high, try confused.com to find the cheapest, then also try quidco.com (we got £120 cashback from Lloyds and they were £10 a month cheaper!)
cable tv and internet £20 fixed
meals at work £40 you can't afford this is
food toiletries and cleaning 148-200 per month how many is this for?
2 X mobile rental 50 do you need two mobiles?
opticians=visual disability new glasses each year £20 - £25
hairdresing and products £10 per month
emergencies 20-50 per month this is an emergency, chuck this at the debt too


WHAT I OWE!!!

AA LOANS OUTSTANDING 16000 OVER 84 MONTHS MONTHLY PAYMENT 245
AA CREDIT CARD OUTSTANDING 4000 MINIMUM PAYMENT 80 MONTHLY
BARCLAYS BANK OVERDRAFT 4820 OUTSTANDING 4991.00 NO FIXED MONTHLY PAYMENT BUT A £30 USAGE FEE
STORECARD 200 OUSTANDING PAYING 15 PER MONTH
MBNA PERSONAL PAYING 120 PER MONTH OUTSTANDING 6600 WAS TAKEN OUT OVER 84 MONTHS
APRs are needed for these, then snowball at https://www.whatsthecost.com/snowball

ARREARS

BRITSH GAS 25 ARREARS
BRITISH GAS GAS 81 ARREARS
T MOBILE ARREARS 35
THREE AREARS 185 - CHANGED TO A BETTER CONTRACT NOW-MONTHLY

CURRENT STATUS - I HAE THE ABOVE ARREARS AND TWENT Y POUNDS TO LAST ME THE REST OF THE MONTH... AND THREE AND MBNA WANT THEIR MONEY...



I REALLY WANT TO BE DEBT FREE... I AM NOT GOINGTO GIVE YOU A SOB STORY BUT FOR THOSE OF YO WONDERING I BROUGHT A HOUSE JUST OVER A YEAR AGO.. A COMBINATION OF THREE MONTHS SICKNESS, DEPRESSION, HOUSE PROBLEMS, POOR BUDGETING, MONEY FROM FAMILY THAT NEVER SURFACED, LONELINESS, POOR CHOICES AND ONLINE GAMBLING HAVE LED ME TO THIS POINT.... THE GAMBLING IS A THING OF THE PAST... BUT THE DEBTS STILL REMAIN ITS A MUGS GAME... AND I HOLD MY HANDS UP AND SAY I WAS A MUG BUT RIGHT NOW I WANT TO DO SOMETHING ABOUT IT AND GET MY LIFE BACK... CAN SOMEONE PLEASE ADVISE FURTHER... I WILL BE CALLING CCCS TOMORROW... I MISSED THEM BY THREE MINUTES!!!

I HAVE CUT DOWN ON MY OUTGOINGS AND ACTUALLY FEEL A SENSE OF ACHIEVMENT DOING THAT A FAMILY MEMBER AGREED TO TAKE MY THREE CONTRACT OFF ME SO I PURCHASED THE T MOBILE ONE HOWEVER THEY LET ME DOWN SO NOW IHAVE BOTH BUT THE TWO COMBINED COST ME LESS THAN ONE USUAL MONTHLY BILL ON THREE- AND I AM HELD TO MY CONTRACT FOR ANOTHER 12 MONTHS BUT THE T MOBILE ALLOWS ME TO NOT SPEND ANYMORE THAN MY CONTRACT RENTAL

Best of luck to you

wannabefreee

Hiya!!!

Just A Quick Reply...

I Only Pay Petrol The Car I Have Is A Motobility Vehile For My Father Therefore I Do Not Pay Any Upkeep Breakdown Tax Or Mot Just Petrol

Regarding The Meals I Think Thats The Key I Do Not Plan My Meals And Thats A Brilliant Idea, At Least Then I Can Put In Some Variety And Plan Healthier Stuff Any Ideas For Meals Would Be Gratefully Received!!!


I Will Be Calling Cccs When I Am Back From Work Tomorrow Evening.... Will Let You Know!!!

Thanks For Your Time I Truly Appreciate It

wannabefreee

HI THERE I WILL TRY THE BANK AGAIN LAST TIME I TRIED WAS A FEW MONTHS AGO......... HOPE I GET SOMEONE MORE UNDERSTANDING THIS TIME!

I AM GLAD TO HEAR YOU WERE STILL ABLE TO GET A MORTGAGE EVEN WITH THE DEFAULTS,,, THIS HOUSE WILL NEED RE WIRING ETC SOON AND A NEW BOILER I NEED TO BE GONEBEFORE THEN!

MY MOBILES ARE ON CONTRACT I WAS DUE TO SWITCH FROM THREE AND SOMEONE ELSE TAKE OVERMY THREE CONTRACT I AM NOW LEFT WITH BOTH AS I DONOT SEE ANYONE FROM ONE DAY TO THE NEXT IT ENABLES ME TO KEEP IN TOUCH WITH FRIENDS WHO LIVE MILES AWAY AND NOT FEEL SO ISOLATED.............. NOT TO MENTION THE FRE MINUTES INCLUDED ALLOW ME TO NOW KNOW WHAT MY BILL WILL BE UP TO LAST MONTH IT WAS A GUESSING GAME.... AND MY BILLS WERE COMING AT MORE THAN FIFTY WHEN I CAN I WILL GET RID OF MY THREE CONTRACT...

MY TV LICENCE WAS PAID IN FULL MY FIRST YEAR REMEMBER THE FIRST YR YOU GO ON TO DIRECT DEBIT ITS PAID IN SIX MONTHS I THINK IT IS, THEN GOES TO A 12 MONTHYL PLAN THE FOLLOWING YEAR..

LIDL AND ALDI IS ACTUALLY A GOOD IDEA I AM MORE FAMILIAR WITH THE ALDI LABELS THO AND THERE IS ONE ON THE WAY HOME FROM WORK.... SILLY HOW THAT HAD NOT OCCURRED TO ME............I DO NOT FEEL LECTURED AT ALL!!! I THOUGHT I HAD THOUGHT OF EVERYTHING BUT I HAVENT..... THANK YOU....

THANK YOU TO EVERYONE WHO HAS TAKEN THE TIME TO REPLY I APPRECIATE IT