My Income And Expenditure Help!!

Legacy_user

Following this http://forums.moneysavingexpert.com/showthread.html?t=748405&highlight=NIRELANDGUY post I have posted my Income and Expenditure, Hopefully someone can help.


Income
My Pay 1.022
Partner 346
Child /B 130
Child Tax 265
Total 1.763

Expense
Rent 480
Electricty 40
Telephone 40
Internet 25
Oil 100
Sky 20
Car Finance 200
Road Tax 15
Insurance 28
Fuel/Parking 120
Food/Cleaning Etc 300
Tobacco 50
Clothing 40
Tax Overpament 100
HB Overpayment 40
Social Fund 40
HP Furniture 80
MBNA 20
TOTAL £1758

DEBT
ARGOS £740
BOI £1.416
B/HORSE £319
BT £220
CAP'ONE £986
MBNA £3.380
EOS £68
F'INT £712
L'WOOD £726
WELCOME £1500
N'WIDE £522.35
TALK TALK £87
HFC £734
MBNA £1357
M'CROFT £750

As you can see there is basically nothing left to pay creditors, And if something like a birthday comes up it means somethins isn't paid which In turn snookers something else and so it continues. Our shopping does look high but that includes nappies, baby food, cleaning and toilet stuff along with food.

This entire situation is getting me down (I have depression and anxiety, wonder why?) and causing arguments, Take today for example paid at 5pm, broke at 6pm I kid you not, had to buy oil and a little shopping thats us broke, Until next weekend where it will be the same.

The car is HP on my partners brothers name as we couldn't get credit, we asked about handing it back but they want a big fee and this would ruin her brothers credit rating

Any advice would be really much appreciated.

tifnstav

what are the aprs on the debts and min payments?

System

tifnstav wrote: »

what are the aprs on the debts and min payments?

I thought I was doing well getting that.. We where repaying £75 a month with CCCS but they had made a major mistake and forgot to include £100 for oil. But anyway they gave us the boot anyway. They were getting £5 a month, well below the min repayment, MBNA along want £75, Interest is all frozen so thats a start

System

Any experts in?

vandanfc

Can you get a combined phone/internet/tv package at all ? At the mo. these are costing you £85 per month. Have a look at Martin's articles on the subjects - even if you could just reduce your phone costs by using a prefix dialler or Primus as mentioned by Martin, this should save you something.

How many is the food budget for ? Many would say that this could be cut back - have a look on the Old Style boards for more advice.

RAS

How long before the tax and HB overpayments come to an end?

Also the HP and Social fund?

Have you attempted ti challenge any of the debts with a CCA?

And do you have anything to put up on e-bay, car boot, amazon?

mummytofour

Ditch the car get a cheap one I have a nice t reg mondao which has full histroy and cost me 1k, that would save you £200 pcm
Why are these
Social Fund 40
HP Furniture 80
MBNA 20
Included in the monthly income? There should all be classed as debts.
The food bill needs to be knocked down, I spend £60 P/W on 7 of us including nappies.

System

vandanfc wrote: »

Can you get a combined phone/internet/tv package at all ? At the mo. these are costing you £85 per month. Have a look at Martin's articles on the subjects - even if you could just reduce your phone costs by using a prefix dialler or Primus as mentioned by Martin, this should save you something.

How many is the food budget for ? Many would say that this could be cut back - have a look on the Old Style boards for more advice.

Trying BT won't let us out of contract until November, the calls aren't actually that expensive its the line rental thats the killer, as for food its for 2 adults and 2 children.

How long before the tax and HB overpayments come to an end?

Also the HP and Social fund?

Have you attempted ti challenge any of the debts with a CCA?

And do you have anything to put up on e-bay, car boot, amazon?

HB Middle next year

Tax Credit Overpayment 2 years time

Yep I've ebayed everything that can be ebayed, If the came to collect out good there would be nothing at all with any value

I reckon I have done everything I can, this is sort of a last resort, Even if we went bankrupt, it wouldn't make any difference as our creditors are not the problem. Its overpayments thats snookering us

System

mummytofour wrote: »

Ditch the car get a cheap one I have a nice t reg mondao which has full histroy and cost me 1k, that would save you £200 pcm
Why are these
Social Fund 40
HP Furniture 80
MBNA 20
Included in the monthly income? There should all be classed as debts.
The food bill needs to be knocked down, I spend £60 P/W on 7 of us including nappies.

I don't think you read the bit about the car, If we leave it back there is a £2k settlement, If we sell it we will get next to nothing thanks to an accident with matt paint
Social fund = Crisis Loan from DHSS
HP is for furniture I.E a sofa, I dont care what anyone says, we had a knackered old sofa for 10 years and needed something new which didnt stink of pi$$
MBNA we can not touch as they caught is out by sending is a card hoping we would spend on at Xmas which we did while we where already in debt with them, if we miss paying we are in court for fraud

RAS

The overpayements are not helping you but you really need to address

Tobacco - go to the doctors, get patches, anything.

Clothing - stop buying anything. Sign up for your lcal branch of www.freecycle.org. You can afford to get stuff off there because it is given away. Ditto for electrical goods, toys, furniture and household goods.

Food and stuff. If you were on a DMP you would be well within their allowance but the reality is that you do not have the money to work to their allowance. - get you OH onver onto the Money Saving Old Style forum and get her thinking like someone who has to budget. As a starter, cut it to £50 per week this month and keep heading downwards as long as you can.

That will give you a couple of hundred a month to start throwing at the debts.

As I said have you sent CCa out for any of them?

System

RAS wrote: »

The overpayements are not helping you but you really need to address

Tobacco - go to the doctors, get patches, anything.

Clothing - stop buying anything. Sign up for your lcal branch of www.freecycle.org. You can afford to get stuff off there because it is given away. Ditto for electrical goods, toys, furniture and household goods.

Food and stuff. If you were on a DMP you would be well within their allowance but the reality is that you do not have the money to work to their allowance. - get you OH onver onto the Money Saving Old Style forum and get her thinking like someone who has to budget. As a starter, cut it to £50 per week this month and keep heading downwards as long as you can.

That will give you a couple of hundred a month to start throwing at the debts.

As I said have you sent CCa out for any of them?

What is a CCA?:rolleyes: