Advice please?

debtsux

My husband does not know about my debts. Neither can he ever know, for personal reasons. So please can anyone give me some advice on this please?

Monthly Income Details
Monthly income after tax................ 840
Partners monthly income after tax....... 900
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1740

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 328
Management charge (leasehold flat)...... 0
Council tax............................. 109
Electricity............................. 60
Gas..................................... 40
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 20
Mobile phone............................ 25
TV Licence.............................. 11
Satellite/Cable TV...................... 20
Internet Services....................... 20
Groceries etc. ......................... 300
Clothing................................ 35
Petrol/diesel........................... 30
Road tax................................ 16.8
Car Insurance........................... 58
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 30
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 0
Entertainment........................... 40
Holiday................................. 0
Emergency fund.......................... 0
car finance............................. 260
catalogues.............................. 80
Total monthly expenses.................. 1587.8

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 12000
Other assets............................ 0
Total Assets............................ 12000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
egg credit card................3300......60........16.9
provident......................980.......88........183.2
lloyds credit card.............2000......35........11.9
barclays overdraft.............1600......30........0
vanquis........................252.......13........39.9
Total unsecured debts..........8132......226.......-

Monthly Budget Summary
Total monthly income.................... 1,740
Expenses (including secured debts)....... 1,587.8
Available for debt repayments........... 152.2
Monthly UNsecured debt repayments....... 226
Surplus(deficit if negative)............ -73.8

Personal Balance Sheet Summary
Total assets (things you own)........... 12,000
Total Secured debt...................... -0
Total Unsecured debt.................... -8,132
Personal net worth...................... 3,868

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.[/font]


(the car is my husbands so I cannont sell it)

RAS

Welcome

Is the car on credit and if so, where is that listed?

beanielou

Hi debtsux & welcome.
Can you ebay/car boot ect and try to raise some money to pay off even a little bit from Provie.
Can you get a wee part time job even short term to help?
If you could try to get rid of Provie you will at least break even every month.
Groceries seem high?

RAS

Reported again

GeorgeUK

Council tax - if paying over 10 months, can you ask to pay over 12?
Elec + Gas - can you change provider? compare prices at moneysupermarket
Groceries - that could be cut quite a bit. Have a look at the old style board for tips and meal planning.
Catalogues - should that not come under debt rather than monthly expenditure?

How is your credit rating? Have you had any late payments or defaults? You can check your credit file for free at experian (if you cancel within 30 days). Rather than paying 183% or 39%, is it possible to try to get a 0% card to transfer these over to?

bank_of_slate

IGNORE BANK-OF-SLADE
THEY HAVE BEEN REPORTED FOR BEING AN IDIOT
...Linda xx

RAS

debtsux wrote: »

Monthly Income Details
Monthly income after tax................ 840
Partners monthly income after tax....... 900
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1740

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 328
Management charge (leasehold flat)...... 0
Council tax............................. 109
Electricity............................. 60
Gas..................................... 40
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 20 >
Mobile phone............................ 25 >
TV Licence.............................. 11 > You are spending just short of £100 just on communications - this can be cut dramatically - Look at the suggestions on the main site
Satellite/Cable TV...................... 20 >
Internet Services....................... 20 >
Groceries etc. ......................... 300 - how many oin your household. If it is 4 or less, you can save half this amount by careful budgetting.
Clothing................................ 35 - cut this out and join freecycle
Petrol/diesel........................... 30
Road tax................................ 16.8
Car Insurance........................... 58 - this is high, check the advice o the main site
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 30 - what is this?
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40 - you cannot afford the
Haircuts................................ 0
Entertainment........................... 40
Holiday................................. 0
Emergency fund.......................... 0

Total monthly expenses.................. 1247.8

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 12000
Other assets............................ 0
Total Assets............................ 12000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR

car finance............................. 260 - this is debt - is it a loan or HP?
catalogues.............................. 80 - this is a debt
egg credit card................3300......60........16.9
provident......................980.......88........183.2
lloyds credit card.............2000......35........11.9
barclays overdraft.............1600......30........0
vanquis........................252.......13........39.9
Total unsecured debts..........8132......556.......-

Monthly Budget Summary
Total monthly income.................... 1,740
Expenses (including secured debts)....... 1,587.8
Available for debt repayments........... 152.2
Monthly UNsecured debt repayments....... 226
Surplus(deficit if negative)............ -73.8

Personal Balance Sheet Summary
Total assets (things you own)........... 12,000
Total Secured debt...................... -0
Total Unsecured debt.................... -8,132
Personal net worth...................... 3,868

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.[/font]


(the car is my husbands so I cannont sell it)

Can you join your local credit union and get an emergency loan to pay off the provident and vanquis. That would reduce your payments each month?

debtsux

Thank you for the replies. How do I ask about paying my council tax over 12 months instead of 10? I didnt even know I could do that.

The car finance I think is HP (we went into a car dealer, they arranged the finance through barclays?)

The car insurance was the cheapest I found on go compare website (its a 2.2 espace) ..If i did find cheaper, wouldnt they charge me a huge amount to cancel my current insurance to go with someone else? (urgh i hate being a totally newbie at this)

Food shopping I have already cut dramatically we have 5 kids. But open to any suggestions!

The other child expenses was our daughters lunch money for nursery...I guess maybe I could cut this out.


Thanks once again!

debtsux

Oh and sorry I forgot to say, my credit rating is very bad

Merlot

£30 on petrol/diesel, is that all? If so, I have to ask why do you and your OH have a car.

I'll be back later to look at soa, I'm trying to make the dinner, load the dishwasher, basically everything before my OH comes home and discovers I've been sat in the garden all day:D

RAS

Glad to see you back and thanks for the expanation of the costs.

Do you get Child benefit, Working Tax Credit of Child tax credits? Check whether you should by looking here www.entitledto.com.