Safety net credit and debt help....

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Hi all, thanks so much for all the advice on this.

I spent some time on the phone with the bank today & good news for me is they've returned the £900+ quid to my account and so the mortgage etc. has all gone out without any problem. Thank goodness!

Moving onto the bigger issue, here is my SOA. Im not sure if I've done this right but I have no idea about interest rates on things at all, most of the debt has been there a while & moved from various collection agencies so I've kind of lost track with putting my hand in the sand etc. I have a shared ownership property, own 25% and pay mortgage & rent. So although the asset listed below is a big amount, i dont own all of it and likely never will!

Most of my debts I just dont pay anything at all, but clearly that needs to change so I can start to get back in control and get this off my back. Any initial thoughts would be much appreciated.

Will definitely look into the payday loan refunds, to see if I have any complaint there. I have loads of defaults and CCJs, + 1 attachment to earnings which is the HSBC loan which was originally £16K, so I've been able to get that down a fair bit. I thought I had 2 attachments, but seems I was wrong.
Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 2872
Partners monthly income after tax....... 0
Benefits................................ 81
Other income............................ 30
Total monthly income.................... 2983

Monthly Expense Details
Mortgage................................ 462
Secured/HP loan repayments.............. 50
Rent.................................... 668
Management charge (leasehold property).. 0
Council tax............................. 107
Electricity............................. 67
Gas..................................... 0
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0
Mobile phone............................ 60
TV Licence.............................. 13
Satellite/Cable TV...................... 50
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 100
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 150
Childcare/nursery....................... 200
Other child related expenses............ 104
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 33
Haircuts................................ 20
Entertainment........................... 100
Holiday................................. 100
Emergency fund.......................... 50
Total monthly expenses.................. 2586


Assets
Cash.................................... 0
House value (Gross)..................... 240000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 240000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 60000....(462)......0<
Rent arrears...................300......(50).......0
Total secured & HP debts...... 60300.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
HSBC Loan......................8817......200.......0
Cabot..........................467.......0.........0
Lending Stream 1...............400.......89........0
Safety Net Credit..............917.......0.........0
JD Williams Catalogue..........177.......5.........0
Moneybox.......................590.......0.........0
Lending Stream 1...............435.......0.........0
Wageday........................305.......0.........0
MyJar..........................296.......0.........0
Ferratum.......................172.......0.........0
Uncle Buck/CRS.................534.......0.........0
CCJ 1..........................408.......5.........0
CCJ 3..........................3582......20........0
CCJ 2..........................767.......0.........0
CCJ 1..........................8817......200.......0
Student Loan...................34084.....0.........6.1
Total unsecured debts..........60768.....519.......-


Monthly Budget Summary
Total monthly income.................... 2,983
Expenses (including HP & secured debts). 2,586
Available for debt repayments........... 397
Monthly UNsecured debt repayments....... 519
Amount short for making debt repayments. -122

Personal Balance Sheet Summary
Total assets (things you own)........... 240,000
Total HP & Secured debt................. -60,300
Total Unsecured debt.................... -60,768
Net Assets.............................. 118,932

Grumpelstiltskin

£100 a month for clothes, for your self and a young child?

Surely not.

Recreate

No, I dont spend that at all actually - I cant remember the last time I bought any clothes, but thought something had to go in as a budget? Maybe I've done this wrong! I dont have a holiday or emergency fund either in reality.

Recreate

Posting again for clarity....

Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 2872
Partners monthly income after tax....... 0
Benefits................................ 81
Other income............................ 30
Total monthly income.................... 2983

Monthly Expense Details
Mortgage................................ 462
Secured/HP loan repayments.............. 50
Rent.................................... 668
Management charge (leasehold property).. 0
Council tax............................. 107
Electricity............................. 67
Gas..................................... 0
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0
Mobile phone............................ 60
TV Licence.............................. 13
Satellite/Cable TV...................... 50
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 150
Childcare/nursery....................... 200
Other child related expenses............ 104
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2223


Assets
Cash.................................... 0
House value (Gross)..................... 240000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 240000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 60000....(462)......0<
Rent arrears...................300......(50).......0
Total secured & HP debts...... 60300.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
HSBC Loan......................8817......200.......0
Cabot..........................467.......0.........0
Lending Stream 1...............400.......89........0
Safety Net Credit..............917.......0.........0
JD Williams Catalogue..........177.......5.........0
Moneybox.......................590.......0.........0
Lending Stream 1...............435.......0.........0
Wageday........................305.......0.........0
MyJar..........................296.......0.........0
Ferratum.......................172.......0.........0
Uncle Buck/CRS.................534.......0.........0
CCJ 1..........................408.......5.........0
CCJ 3..........................3582......20........0
CCJ 2..........................767.......0.........0
CCJ 1..........................8817......200.......0
Student Loan...................34084.....0.........6.1
Total unsecured debts..........60768.....519.......-


Monthly Budget Summary
Total monthly income.................... 2,983
Expenses (including HP & secured debts). 2,223
Available for debt repayments........... 760
Monthly UNsecured debt repayments....... 519
Amount left after debt repayments....... 241

Personal Balance Sheet Summary
Total assets (things you own)........... 240,000
Total HP & Secured debt................. -60,300
Total Unsecured debt.................... -60,768
Net Assets.............................. 118,932

Grumpelstiltskin

OK You need to but something in for clothes but try and work out how much you do spend.

Your mobile phone at £60 is that for 1 phone?

Recreate

Yes the £60 is for one phone, contract due to end in November

Recreate

Now with clothing added, probably 15-20 a month max. generally school clothing really.

Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 2872
Partners monthly income after tax....... 0
Benefits................................ 81
Other income............................ 30
Total monthly income.................... 2983

Monthly Expense Details
Mortgage................................ 462
Secured/HP loan repayments.............. 50
Rent.................................... 668
Management charge (leasehold property).. 0
Council tax............................. 107
Electricity............................. 67
Gas..................................... 0
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0
Mobile phone............................ 60
TV Licence.............................. 13
Satellite/Cable TV...................... 50
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 150
Childcare/nursery....................... 200
Other child related expenses............ 104
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2243


Assets
Cash.................................... 0
House value (Gross)..................... 240000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 240000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 60000....(462)......0<
Rent arrears...................300......(50).......0
Total secured & HP debts...... 60300.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
HSBC Loan......................8817......200.......0
Cabot..........................467.......0.........0
Lending Stream 1...............400.......89........0
Safety Net Credit..............917.......0.........0
JD Williams Catalogue..........177.......5.........0
Moneybox.......................590.......0.........0
Lending Stream 1...............435.......0.........0
Wageday........................305.......0.........0
MyJar..........................296.......0.........0
Ferratum.......................172.......0.........0
Uncle Buck/CRS.................534.......0.........0
CCJ 1..........................408.......5.........0
CCJ 3..........................3582......20........0
CCJ 2..........................767.......0.........0
CCJ 1..........................8817......200.......0
Student Loan...................34084.....0.........6.1
Total unsecured debts..........60768.....519.......-


Monthly Budget Summary
Total monthly income.................... 2,983
Expenses (including HP & secured debts). 2,243
Available for debt repayments........... 740
Monthly UNsecured debt repayments....... 519
Amount left after debt repayments....... 221

Personal Balance Sheet Summary
Total assets (things you own)........... 240,000
Total HP & Secured debt................. -60,300
Total Unsecured debt.................... -60,768
Net Assets.............................. 118,932

D_M_E

You have the HSBC loan down twice - once as an attachment to earnings and again as a payment under the loans section as a CCJ.

When the phone contract ends in November - consider cancelling and going SIM only.

Holiday fund - you cannot afford this, are there no free attractions you could visit in your area? - I see you have cut this out alltogether in your second attempt at SOA.

Council tax - are you claiming the single person's discount?
Are you paying over 10 months? If so, ask to pay over 12 months instead.

You have nothing listed for buildings insurance - is this included in contents insurance?

Your rent and mortgage add up to over £1000 a month all for only 25% share - would you be better off selling up and going into rental until you get back on your feet?

Something else to consider - do you really need sattellite tv - have you considered Freeview?

Recreate

thanks for the spot on the HSBC being down twice.

Ctax - yes Im claiming single person discount and im paying over 10mths, so will see if I can shift that to 12mths

Buildings insurance - already covered in contents insurance yes

Rent and mortgage is crazy...and to buy the share I had to take out the HSBC loan (on the advice of my parents). Really regretting that now of course!

I dont really need it I suppose - however it also includes my internet/landline cost and I need the internet for work. definitely not averse to removing the sky tv though.

Willing2Learn

Should presents for birthdays/xmas really be at £0 or are you going to be putting money aside?

Why are the APRs for your debts all at 0%?

Your mobile monthly bill is quite high. Are you on a contract or SIM-only?