enough is enough

debtmuncher

new to all this so all advice greatly appreciated.:beer:

first things first....credit cards and accounts - going to cut them but should i ask for account to be closed then continue making payments or just continue making payments then closing at the end?

will post a soa asap. my main plan is to re mortgage in sept when current two year fixed rate finishes up but i (we - its joint with dh) need to get our financial affairs sorted out. one catalogue has been flagged up as we are on slightly reduced payment so want to get it unflagged before applying for new mortgage. hoping to get unflagged within the next couple of months.

our total main aim is to get debt free within three years (a couple of loans finish in two years) so we can purchase a bigger house.

kind of waffling here but i have it all down in my head what we want to do just need to get the actions to it instead of putting it off!!:rotfl:

respect to all who are on their start/end/completely finished their "wanna be debt free" journey!:A :T
ps sorted out my credit report yesterday ...came up as being "fair" but areas of improvement were to concentrate on those various accounts.

**Amy**

:hello:

Welcome to DFW!!!

Definitely sounds like you have a plan, which is great.

Try and get your SOA down ASAP as people on here can really help you cut out things, get cheaper deals etc.

Also, maybe try having a look at some of the challenges on here. Like the Make £10 extra a day challenge (they do one every month). Or the saving all your loose change.

Anyway, just wanted to say Hi and welcome really.

xxx

GeorgeUK

SOA would be a good idea. This should help you put one together.
http://www.makesenseofcards.com/soacalc.html

Just keep paying you CC's and then close them once they're paid off. You may also be offerred a 0% balance transfer when you try to close which will let you clear other cards quicker too, so just keep paying for now.

debtmuncher

thanks guys...will get the asap ?!!! tut the soa!!! done by half twelve...got a nursery pick up at half eleven.

Lula-Hula

Hello,
just wanted to say 'welcome & what a fab name , debtmuncher, wish I'd thought of that' .
You've come to the right place, fab people with loads of knowledge, advice & support
lula

debtmuncher

currently doing soa....when it asks for annual interest rate i have two on the statements...purchase/cash do i put in the highest one or what do i do?

**Amy**

Hi

if you dont use the cards to get "cash back" then put the purchase one, thats the one most people have.

Hope this helps

x

Boggles1234

debtmuncher wrote: »

currently doing soa....when it asks for annual interest rate i have two on the statements...purchase/cash do i put in the highest one or what do i do?

Put down whichever one applies to your case - if you haven't used it to withdraw cash from an ATM then use the purchase one.

debtmuncher

think the majority were used for cash withdrawals so i have put that figure down.

does this forum/site keep logging you out after a specific length of time due to non use?

keep having to log in

**Amy**

Yep mine does at work!

Drives me insane sometimes! :rotfl:

debtmuncher

Monthly income after tax................ 600
Partners monthly income after tax....... 1000
Benefits................................ 1200
Other income............................ 0
Total monthly income.................... 2800

Monthly Expense Details
Mortgage................................ 395
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold flat)...... 0
Council tax............................. 121
Electricity............................. 55
Gas..................................... 55
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 10.5
Mobile phone............................ 40
TV Licence.............................. 14
Satellite/Cable TV...................... 0
Internet Services....................... 14
Groceries etc. ......................... 400
Clothing................................ 0
Petrol/diesel........................... 200
Road tax................................ 0
Car Insurance........................... 22
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..................... 13
Contents insurance...................... 13
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1352.5

Assets
Cash.................................... 0
House value (Gross)..................... 80000
Shares and bonds........................ 0
Car(s).................................. 10000
Other assets............................ 0
Total Assets............................ 90000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... NaN......(395)......0
Total secured debts........... NaN.......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
aqua...........................334.44....10.02.....39.95
barclaycard....................3976.71...89........27.9
vanquis........................493.02....22........47.89
black horse....................4530......236.......0
northern rock..................0.........215.......0
black horse car................0.........280.......0
littlewoods....................1166.82...58........32.9
next...........................823.41....77.66.....26.49
captial .......................1018.56...50.93.....30.34
argos mastercard...............1510.34...45.31.....0
argos..........................334.45....13.38.....27.9
vanquis........................230.46....11........38.58
barclaycard....................668.39....15........0
kays...........................732.79....100.......0
littlewoods....................798.92....39........32.9
next...........................740.96....84........26.49
argos..........................682.17....27.29.....27.9
homebase.......................560.6.....22.14.....27.9
argos mastercard...............1031.65...36........0
capital........................482.43....24.12.....30.34
Total unsecured debts..........20116.12..1455.85...-

Monthly Budget Summary
Total monthly income.................... 2,800
Expenses (including secured debts)....... 1,352.5
Available for debt repayments........... 1,447.5
Monthly UNsecured debt repayments....... 1,455.85
Surplus(deficit if negative)............ -8.35

Personal Balance Sheet Summary
Total assets (things you own)........... 90,000
Total Secured debt...................... -NaN
Total Unsecured debt.................... -20,116.12
Personal net worth...................... NaN