My statement of account.

tazladytaz

Hi,
I have loans that total £31000 in unsecure loans which cost £817 a month.
I also owe £11700 on credit cards minimum monthly payments about £350.
I bring home between £1600 and £1900 and also get £169 in child allowence.
The only other outgoings I have are weekly shopping about £100 and weekly petrol for myself and partner about £50.

IWantToBeFree_2

Do you not have any bills to pay etc?

Merlot

http://forums.moneysavingexpert.com/showthread.html?t=107280

Taz, the above will help you, take a look,

Merlot.x.

CCCS_Sarah

Hi Taz,

Thanks for posting. There are a couple of things missing from you SOA i.e. road tax, clothes, phones. Start by making a note of everything you spend your money on even if it’s a yearly cost and break it down to a monthly amount.

If you need any help completing a SOA CCCS do have a free online debt advice facility called Debt Remedy where you can complete and SOA online and be provided with the best advice on how to deal with your situation. This Link will take you directly to Debt Remedy

sparky0107

tazladytaz wrote: »

Hi,
I have loans that total £31000 in unsecure loans which cost £817 a month.
I also owe £11700 on credit cards minimum monthly payments about £350.
I bring home between £1600 and £1900 and also get £169 in child allowence.
The only other outgoings I have are weekly shopping about £100 and weekly petrol for myself and partner about £50.

Hi tazladytaz,
Welcome :wave: to the forum, do you have any idea what the interest rates are on the outstanding loans and cards, also it would help if you could break down each card & loan into company, amount & % rate, then the good people on the forum will be able to give you advice on which one to pay off first etc, to help you on the road to becoming debt free.

The links below are for the snowball calculator, which will give you adebt free date & spending diary to help you see where the rest of your money goes

http://www.whatsthecost.com/snowball.aspx?country=uk
http://www.spendingdiary.com/main.php

Hope this helps you in some way

taka

Hiya Taz!!!! Welcome and well done for posting this! I've tried to order things a wee bit (sorry I get confused otherwise!) and have a few questions of that is ok? I have put them in red...


Income:
between £1600 and £1900 Is this for you or the total for you+your partner?
£169 in child allowance

Outgoings:
Shopping (weekly £100) = ~£433/month How many is this for? You could try the oldstyle board as there are lots of tips on how to cut this down/make the best use of what you buy
Petrol (weekly £50) = £216.50/month

What about things like council tax, car tax, insurance, TV licence, water (if you are in England), clothes, phone, broadband, xmas, birthdays, childcare etc??

Debts:
unsecure loans - total £31000 - £817 a month.
credit cards - £11700 - minimum monthly payments about £350
What are the APRs etc of your debts?

taka xx

tazladytaz

Thank you all for your replies. Its amazing that there is so much more to think about. I will have to sit down with a pen and paper tonight and work everything out and post it when I have done.

tazladytaz

All the details below are just me.

Income £1600 wages
£169 child benefit

Outgoing
Shopping £100 a week for two adults and five kids
Petrol £50 a week
Car tax £175 a year
Car insurance £250 a year
Clothes £20 a month
Phone £25 a month
Christmas and birthday £1000 a year
Dentist £10.99 a month

Debts
Halifax Credit Card £7000 APR 21.9%
Marbles credit card £4700 APR 29.9%
Halifax Loan £9439 APR 10.9%
Halifax Loan £4221 APR 8.8%
Egg Loan £13100 APR 7.9%
Lloyds £5500 APR 12.9%
Overdraft £950 authorised upto £1250

pinkydinkydo

Hi There

Just wanted to say they're a fantastic bunch on here and they will help you out loads, should you not get more child benefit? I get about that and i only have three kids. Also what about child tax credit? We only get £40 a month but it all helps.

Best of luck

Welshlassie

tazladytaz wrote: »

All the details below are just me.

Income £1600 wages
£169 child benefit

Outgoing
Shopping £100 a week for two adults and five kids have a look at the old style board for ways of cutting this down without noticing too much.
Petrol £50 a week Could you use public transport, car share this is an awful lot.
Car tax £175 a year
Car insurance £250 a year
Clothes £20 a month
Phone £25 a month Can this be cut down, ?PAYG
Christmas and birthday £1000 a year
Dentist £10.99 a month Do you really need this?

Debts
Halifax Credit Card £7000 APR 21.9%
Marbles credit card £4700 APR 29.9%
Halifax Loan £9439 APR 10.9%
Halifax Loan £4221 APR 8.8%
Egg Loan £13100 APR 7.9%
Lloyds £5500 APR 12.9%
Overdraft £950 authorised upto £1250

Hi and welcome.
What are the minimum payments for these?
What about rent/mortgage, house insurance, TV licence? If you're partner pays these, are these debts just yours or in joint names?

tazladytaz

Thank you for your replies. I only get child benefit for my children, my partner gets it for his.
All the above debts are in my name only and all other outgoings are made by my partner.