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sourcrates

Emmalene wrote: »

I live within my means I never miss a payment don’t tell
Me what I can and can’t have you don’t know anything about my life how rude

Emmalene wrote: »

This is genuine and yes my wages don’t help in used to 20,000 in my last job and now my job is 13,000 it’s a big drop !!

Emmalene wrote: »

As long as I pay my bills that’s all I’m bothered about and that’s what I’m doing !

Hello there,


I have closed your other post to avoid confusion.


You seem to be taking the advice given to you entirely in the wrong way, if your income has dropped, and you have debts to service, that your current wage is insufficient to cover, then you can try to increase your income, and lower your expenses, by cutting back on your budget for example, if that is not possible, then there is no magic other solution to be plucked from the sky, you either choose to go for some kind of debt management, or you will end up defaulting.


It really is that simple.


Sorry if you don't like or want to hear that, but there is nothing else you can do.

Choccygirl123

You've asked for advice and then have a go when people suggest not spending £50 on nails and trying to cut your phone bill.

My suggestion would be look for a better paid role. Education just doesn't pay well and as you work 38 weeks it impacts greatly on your take home. An admin role on same per hour but over 48weeks would give you a great opportunity to pay everything off.

Emmalene

My wages just cover my bills the luxuries for my phone and nails I won’t let go of because I get help with those off family

I don’t drive I’ve got visual impairment I do my best so don’t anyone criticise I’m trying my best !!

datlex

OP, shop around for your nails and see about getting them done cheaper. So that you still get the treat but it costs you less. Try stretching it as well to every 6 weeks rather than once a month.

sourcrates

Statement of Affairs and Personal Balance Sheet for Emmalene

Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 1089
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1089

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 100
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 100
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 50
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 300


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
M&S loan.......................3133.56...335.......0
Halifax........................1000......100.......0
Starling.......................1000......100.......0
Halifax Loan...................3697......241.......0
Halifax CC.....................2632......500.......0
Total unsecured debts..........11462.56..1276......-


Monthly Budget Summary
Total monthly income.................... 1,089
Expenses (including HP & secured debts). 300
Available for debt repayments........... 789
Monthly UNsecured debt repayments....... 1,276
Amount short for making debt repayments. -487

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -11,462.56
Net Assets.............................. -11,462.56

Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

You are currently £487.00 per month in the red, my advice would be to look into a debt relief order, you would more or less qualify from the figures you have given, Fatbelly is a CAB intermediary, he may be able to add his thoughts.

Emmalene

Yes I know and that’s why I’m
Missing out my wages each month as only old job I was coming out 1,500 / 1,700

Emmalene

That’s twice a month not just once

sourcrates

Emmalene wrote: »

Yes I know and that’s why I’m
Missing out my wages each month as only old job I was coming out 1,500 / 1,700

A DRO (Debt Relief Order) is designed for people, such as you, who have debt under £20.000, have no car or assets valued at £1000 or more, and who have less that £50 left at month end before taking into account debt repayments.


The SOA figures you have given us are totally unrealistic, and normal allowances would more than swallow your income.


Its either that option, or a debt management plan, which is more informal, anyway, i would advise you speak to stepchange after the Christmas holidays, as something has to change, your current circumstances are unsustainable.

Emmalene

Yes but going to debt management or debt help I won’t be able to get a mortgage when I’m older in a few years time so I don’t want any of that

It will scupper my chances of getting a mortgage for a house

sourcrates

Emmalene wrote: »

Yes but going to debt management or debt help I won’t be able to get a mortgage when I’m older in a few years time so I don’t want any of that

It will scupper my chances of getting a mortgage for a house

Not necessarily, credit file information is never forever.

I can understand your concerns, but tell me this, what do you intend to do when you can`t meet your financial obligations any longer ?

Believe me, i have seen this situation many, many times, and been there myself, where are you finding this extra £500 a month from now ?

by juggling payments, and/or borrowing it most likely, that cannot go on forever, sure as eggs is eggs, this will all come crashing down unless you take positive, and pro-active steps to help yourself.

You need to accept that something has to give here, and a few defaults on a credit file is not the end of the world, priority is getting rid of this debt before you can even ever dream of obtaining a mortgage.