help me plz? how to catch up?

struggle-ing

At the moment i am in a small debt crisis, Basicly i have a few bills overdue, (Gas, Water, Electric T/Phone and c/tax), i am trying to catch up these by paying weekly when i get paid but by doing this i am spending more than i earn. what is the best way to do this as with these upto date i will be out of my crisis.

my options are keep getting bank charges and paying weekly (Don't Work)
my other plan was to cancel Standing ordert to pay wkly and ring each one up and pay 1 bill off in maybe 2payments over 2 months (water is 6mthly bill gas elexc is 3mthly c/tax t/phone mthly)

ie when i get paid

wk1 pay c/tax
wk2 pay max afford off gas & Elect
wk3 pay max afford off water
wk4 pay max afford off t/phone
wk5 back to wk1

when on is paid off add 1/2 saved money to the other bills "save the other 1/2 towards next bill"
my spare income after mortgage and secured loan is £200
wkly shopping is arround £90 (got mrs & 4 kids)

Would this work or is there any batter ideas
sorry can't give any figures to bills today as they are all closed for weekend but i think they are all between £200 and £400
will put amounts up when i had chance to phone on monday

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1920
Partners monthly income after tax....... 0
Benefits................................ 200
Other income............................ 0
Total monthly income.................... 2120

Monthly Expense Details
Mortgage................................ 700
Secured loan repayments................. 224
Rent.................................... 0
Management charge (leasehold flat)...... 0
Council tax............................. 100 300 outstanding
Electricity............................. 120 paying wkly to catch up
Gas..................................... 60 paying wkly to catch up
Oil..................................... 0
Water rates............................. 100 paying wkly to catch up
Telephone (land line)................... 40 240 outstanding to pay
Mobile phone............................ 100 2 phones includes unbundled amount
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 0
Petrol/diesel........................... 30
Road tax................................ 230
Car Insurance........................... 35
Car maintenance (including MOT)......... 20
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..................... 20
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 10
Presents (birthday, christmas etc)...... 1000
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2451

Assets
Cash.................................... 0
House value (Gross)..................... 130000
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 134000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 82000........(700)......0
Secured Debt.................. 7000........(224)......0
Total secured debts........... 0.........-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,120
Expenses (including secured debts)....... 2,451
Available for debt repayments........... -331
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ -331

Personal Balance Sheet Summary
Total assets (things you own)........... 130,400
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Personal net worth...................... 130,400

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

Clariman

Hi Struggle-ing. Well done on posting your SOA. I'm sure someone will be along shortly to help. In the meantime, may I ask you a question. I wrote the SOA Calculator that you have used and I see that the Total Secured Debt is showing at 0 but should be £89,000. Did you edit the output to make it 0 or is that what the calculator produced? If the latter, then I need to fix a bug in the calculator.

Thanks
Clariman

katyw

Giving you a bump up x

LinziLou_2

I dont know if this helps or not but my boyfriend got a huge bill from british gas and was sure he hadn't used this amount. He rang them up and they came and installed a gas meter thing were u top up on the card and then said he could pay the remaining amount off at £5 every wednesday. I dont no if you already have a meter or would change to one as i'm not a home owner i dont no if its more expensive in the long run but i know that he finds that he can see what hes spending and over the summer he has put that bit more on the card to cover over winter when it starts to get really cold. Oh and are you mobiles contract? Because you can call them up and ask them to make a payment plan for you?? and then you could get one of them cheaper good offer sim cards. x

Boggles1234

I've just spotted about your road tax - £230 a month?? Shouldn't that be £230 per year?

Also £1000 a month of presents etc seems very OTT is that figure correct?

SingleSue

Road tax and pressies allowance looks a wee bit high!


Hehe you beat me to it Boggles

SuzySu

Was just going to say £1000 PER MONTH on presents etc is a mis-type (surely).

Nala

Also looks like you may need to change the amount for groceries - £100 a month....you say you're spending £90 a week...

Your mobile phone bill is scarily high to me - can you downgrade your contracts or go PAYG

ps well done on posting

misspoppy

Hi

have youn thought about calling the gas/elec and water and making these monthly payments rather than 3 montly or 6 monthly, that way you will pay the same ammount every month rather than a big bill every few months. They will usually apply these debts to the bill. DD is the cheapest method for paying for gas and electric. You also need to have a formal agreement in place for your council tax as being behind on this is serious.

Are you paid weekly or monthly, as this will affect how you can budget to meet these bills.

basketcase

misspoppy wrote: »

Hi

have youn thought about calling the gas/elec and water and making these monthly payments rather than 3 montly or 6 monthly, that way you will pay the same ammount every month rather than a big bill every few months. They will usually apply these debts to the bill. DD is the cheapest method for paying for gas and electric. You also need to have a formal agreement in place for your council tax as being behind on this is serious.

Are you paid weekly or monthly, as this will affect how you can budget to meet these bills.

OP says weekly paid in first post. I used to be weekly paid and I do sympathise - it's really hard to keep up.

The problems I found with a DD on weekly pay are:
1) You can only specify a DATE for a DD, not, say "last Friday of the month" and so you perpetually risk being overdrawn.
2) My providers won't let you set up a DD unitl you've paid off any outstanding bill. Stupid and maybe other providers are better...