so low

immoral_angeluk

Payplan are similar to the CCCS and won't charge for helping you.
Have a look at this thread for advice how to post an SOA
http://forums.moneysavingexpert.com/showthread.html?t=107280

eco123

I can't offer you any specific financial advice, but if I were you & the situation really was that bad & I had no family, I would do the following;

• Go bankrupt.
• Rent instead of buy (most of the planet do this).
• Enjoy life..you only have one chance.

In the scheme of things, life really is too short to have it ruined by money. It will require you to look at life from a different perspective. Things may look rough but as you have no family to speak of you should grab life with both hands...it's only money!

Some readers may not see this as helpful advice, but life is life, & I see it a little different to most people.

catseyes22

magicsgirl, Payplan dont charge a penny, have a look at their website http://www.payplan.co.uk there is a freephone telephone number too, give them a call. It was the best thing I ever did. My DMP with Payplan is where I pay a fixed figure per month to Payplan and they pay my creditors on a pro-rata basis.

immoral_angeluk

eco123 wrote: »

I can't offer you any specific financial advice, but if I were you & the situation really was that bad & I had no family, I would do the following;

• Go bankrupt.
• Rent instead of buy (most of the planet do this).
• Enjoy life..you only have one chance.

In the scheme of things, life really is too short to have it ruined by money. It will require you to look at life from a different perspective. Things may look rough but as you have no family to speak of you should grab life with both hands...it's only money!

Some readers may not see this as helpful advice, but life is life, & I see it a little different to most people.

and if you are considering this method please pop over to the bankruptcy board and seek advice from them first before doing anything hasty..

misspoppy

Most IVA's are sold to make money for the people that have set them up, thats why the websites look so good. It is also usual for them to insist that you realise some equity in the 4th year which could mean you selling your house because your credit rating will still be rubbish because you have been on an IVA.

A DMP is what you are doing now, you've worked out how much you afford to give your creditors and divided between them, you eventually pay them all off but usually interest is stopped so the debt doesn't continue to grow.

Is there anyway you could rent out a room in your house to make some extra cash, a SOA would help people advise you further.

magicsgirl

Thanks Miss Poppy
Tried to post this SOA and it crashed again - trying again..

Monthly Incomings:

My salary - £1512.70 net monthly salary
max potential weekly piano teaching money (not guaranteed as varies) - £93
plus potential for commission from pampered chef sales (this month nil) next month should be around £80
Student lodger (not guaranteed) when she is here £100 per week - max 25 weeks per year
nb piano and lodger not declared..

realistically somewhere around £2115 best case scenario - more usually around £1950


CCCS budget done in nov
Mortgage 627
Council tax 88
gas 20
elec 28
water 20
house insurance 26
telephone mob and land 50
TV license 12
med insurance 15
servicing car 25
road tax 11
insurance 18
fuel 173
food 173
pets 20
haircuts 5
dentist 10
entertainment 5
clothing 20
emergencies 5

total expenses 1351
total income 1550
surplus 199 - which is agreed amount paying pro-rata to creditors....

actual Monthly Outgoings:

Mortgage - £634.33
Council Tax - £88
Gas - £20
Electric - £28
TV License - £11.61
mobile £45
BT landline £15.50
Food - £216 a month?
Car Insurance - £24.25
Petrol - £173 a month?
Horse DIY livery £84 a month
£5 week savings
Dog pet insurance £14.30
House insurance £12.69
Motorbike insurance £17.85
Horse insurance £28.53
Water bill £20
Haircut £14 per month? (£24 every 6 or 7 weeks)
Dentist £8 (2 inspections, 2 hygienist per year)

Debt
Virgin CC £10,975.65 (min payment asked for! £1040.23) Paying £36 per month. They have stopped adding interest but has issued default notice and assigned debt to 3rd party - also they are suggesting payments of £87.90 per month

Barclaycard - now being handled by Mercers balance £8886.38 threatening debt collectors - minimum payment requested £874 - still adding interest - this month £107.73. Paying £29 per month

MINT platinum balance £7425.33 min payment £626. Served termination notice. Waived interest for 6 months. Paying £24 per month

Capital One CC balance £1073.64 min payment requested £217.08 - stopped adding interest Paying £3 per month

Northern Rock loan balance £25,706.70 (although this assumes 10 year interest - settlement figure around £20,036 minimum payment. Normal payments were £298.95 - agreed reduced payments £71 per month until 27/05/08.

Egg Loan 5116 - normal payments £95.93. Default notice issued. Agreed payment of £18 until 2 April 2008

Alliance & Leicester loan balance £3401.10 monthly payments should be £96.26 - paying £11 per month

Barclays overdraft balance £1,176.79 six month agreement to accept payments of £4 until 20/6/08

Alliance & Leicester overdraft balance £1003.04 agreed payments of £3

comes in at around £65k but think £4k of that only showing as 10 year interest on nrock loan..
Has increased 5k since started with CCCS due to late fines, over balance limit fines, and interest added in last 3 months...

magicsgirl

Hi eco..
Thats the question... do I do that and say blinking heck to it all...
or try and ride the storm and deal with it sensibly...
Sometimes it can be lonely to be edgey and say what the heck when all your friends are living in big houses, husband, kids, nice car...sensible budget...

immoral_angeluk

You have a house, horse, dog, car, motorbike AND debts.. no wonder you're struggling hun!! I would seriously look at your priorities and consider making some sacrifices.... the horse is costing you an arm and a leg for starters!

magicsgirl

Do you have a pet? My horse is 21 years old and I have had him for 19 years... I can;t sell him he's worth nothing as he is old and infirm... What do you suggest I do... shoot him?

magicsgirl

My car is a heap which I need for work, my dog is my best friend and my motorbike my only luxury and its old and worth next to nothing..

I thought people weren't supposed to judge on here?
Most of my debt was left to me by ex husband who p---ed off and left me