Going under and annoyed my first thread disappered!

bogged_down_with_£

Well, this is my life in a nutshell!

[tt]
Statement of Affairs and Personal Balance Sheet



Monthly Income Details

Monthly income after tax................ 1713

Partners monthly income after tax....... 0

Benefits................................ 0

Other income............................ 400

Total monthly income.................... 2113



Monthly Expense Details

Mortgage................................ 0

Secured loan repayments................. 0

Rent.................................... 565

Management charge (leasehold flat)...... 0

Council tax............................. 121

Electricity............................. 140

Gas..................................... 0

Oil..................................... 0

Water rates............................. 25

Telephone (land line)................... 0

Mobile phone............................ 32

TV Licence.............................. 11

Satellite/Cable TV...................... 0

Internet Services....................... 7.5

Groceries etc. ......................... 240

Clothing................................ 25

Petrol/diesel........................... 90

Road tax................................ 17.91

Car Insurance........................... 33.33

Car maintenance (including MOT)......... 8.33

Car parking............................. 0

Other travel............................ 20

Childcare/nursery....................... 0

Other child related expenses............ 0

Medical (prescriptions, dentist etc).... 5

Pet insurance/vet bills................. 35

Buildings insurance..................... 0

Contents insurance...................... 12.6

Life assurance ......................... 7

Other insurance......................... 0

Presents (birthday, christmas etc)...... 33.33

Haircuts................................ 20

Entertainment........................... 30

Holiday................................. 0

Emergency fund.......................... 20

Total monthly expenses.................. 1499



Assets

Cash.................................... 0

House value (Gross)..................... 0

Shares and bonds........................ 100

Car(s).................................. 3500

Other assets............................ 0

Total Assets............................ 3600



No Secured Debt



Unsecured Debts

Description....................Debt......Monthly...APR

barclaycard....................9223.84...154.......6.9

MBNA...........................5049......87.77.....20

M and S........................1098.01...27.45.....3.9

car finance....................6500......0.........0

barclays overdraft.............3000......0.........0

natwest overdraft..............2000......0.........0

natwest personal loan..........9300.1....271.......7.9

next...........................183.67....16.05.....0

Amex...........................2479.54...64........0

Natwest........................4104.97...92........14

Total unsecured debts..........42939.13..712.27....-



Monthly Budget Summary

Total monthly income.................... 2,113

Expenses (including secured debts)....... 1,499

Available for debt repayments........... 614

Monthly UNsecured debt repayments....... 712.27

Surplus(deficit if negative)............ -98.27



Personal Balance Sheet Summary

Total assets (things you own)........... 3,600

Total Secured debt...................... -0

Total Unsecured debt.................... -42,939.13

Personal net worth...................... -39,339.13



Created using the SOA calculator at https://www.makesenseofcards.com. [/tt]

Poosmate

Hi Bogged Down,

Thanks for posting your SOA. There will be many people around soon enough to try and help you out.

I'm no expert, quite new here myself, but as you say you live with your bf could you clarify if the rent you pay is half the total rent and same with council tax and electricity, as these seem (to me) very high if you are going half wacks with your other half? Or is the £400 other income his share of the monthly outgoings?

Also, you are paying for the TV licence yourself?

You could probably make a huge saving on your grocery shopping as there are only the two of you. An excellent place to get advice on that would be the Moneysaving Oldstyle Board. Have a look at the Grocery Challenge thread - it's fab, addictive and extremely helpful. Sorry haven't got the urls for those two places I'll try to find them and post later.

I'm doing the Grocery Challenge for the first time this month and it really does keep you in check - in a good way - it's like a goal, an ambition and it's something really positive that makes you feel good. well it does me anyway.
Hope that helps a little.

Stick around, you're not alone and everyone on here is so helpful and supportive.

Poo

scooterwife

I'm not an expert but that doesn't look too bad really. electric is very high, and shopping could be reduced if you look at the 'Old Style board' for ideas.
does OH contribute to bills etc?
you need to 'find' another £100 per month to make this work
(there isn't a figure by car finance debt - oversight?)

Rage_in_Eden

Okay Bogged Down let's see what we can do. Firstly, there's heck of a lot of us been there and if not been there sailed dangerously close. When Mr Rage's business failed I was the breadwinner on an amount that left us with £2 per month after all outgoings and still we survived, so let's grit our teeth. a) seek help from the CAB or other services mentioned on here. Don't pay for anyone to help you out (i.e. those helpful companies who adertise) - the info is free elsewhere. Your local library should be able to help with local contact details. b) plan your meals/take lunch. I know it sounds very boring but it really is the only way - also if you're meat eaters try and cut down on the meat as that isn't the cheapest food going. Do you have a market near you at weekends? Often good deals are to be had either with in season food or end of day bargins - if you have a freezer this is where it comes into it's own. Pop over to the Old Stylers and we'll show you how to make meals out of three old boots and a tub of lard! :rotfl: c) I presume that the groceries includes pet food? Is there a cheaper alternative you could try? I know you will regard them as your "babies" (if you are anything ilke me that is ) but it's worth a try. d) I take it that electric is your only fuel. Is there any way the landlord would let you change providers? If not try and be as frugal with the electric as possible. e) Is there any scope or do you feel up to taking on another job like bar work etc? Some people finds this helps if not hugely financially then certainly psychologically. Most of all don't worry yourself senseless. Lying awake at night will not solve matters and will only make you feel ill and unable to cope full stop. See your GP if you have to - they may even surprise you and have info as you certainly won't be the first person they've seen with this problem. We are all here for you so chin up and remember the wartime slogon -Keep Calm and Carry On. It really is the only way. Rage x

bogged_down_with_£

Hello,
Thanks for your replies. I do get the £400 as half of the rent/bills per month including tv license. I don't want to include my partners salary as it is my debt and he has his own things to deal with.

As we co-habit are his belongings at risk? I would hate to jepordise any of his 'cherished' electrical items. He is very much into his sound system and they are nothing to do with me? x

bogged_down_with_£

Oh also, my mob phone is two separate mobiles. They are approx £15 each. I live away from my whole family and it is the only way I can stay in touch (as they do not have internet access). I also do not have a house phone. x

bogged_down_with_£

Thank you Rage in Eden. This forum actually helps a lot. Nobody else understands the implications of this other than those who are going through or have been through it.

What should I take to the CAB in ways of documentation? I'm in very early days of getting my head around all of this! I'm going for a drop in session as the phone is never answered to make an appointment!! What happened to you out of interest? x

LilacPixie

I think you may have to talk to your partner about upping his share of rent/food/bills. Really £400 is not enough and its just making you slip further into debt.

I live in scotland so I do not really understand the whole bailif thing.

£240 on food for 2 adults and 2 dogs seems high as does your electricity costs.

bogged_down_with_£

I have a car under HP. It has depreciated massively. I do need a car so how can I get around this? If I go for IVA or bankcrupcy I will have to release the ownership won't I? I know I will get more answers from the CAB but I'm struggling to see through the dimmest light! Bloody dimmer switch! x

bogged_down_with_£

Thanks Lilac Pixie

He's on less than half of my income. The high electricity comes from not paying enough for a year and then being slapped with the overdue amount and then a nice hefty monthly payment. We only have electricity, no double glazing and for a period of time had a hole in the roof. The landlord is not particularly bothered. x