Debt/loan advice needed!!!!!

louietudor

alice79 wrote: »

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1011
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1011

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 300
Management charge (leasehold flat)...... 0
Council tax............................. 70
Electricity............................. 30
Gas..................................... 10
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 10
Mobile phone............................ 35
TV Licence.............................. 11
Satellite/Cable TV...................... 10
Internet Services....................... 0
Groceries etc. ......................... 50
Clothing................................ 10
Petrol/diesel........................... 20
Road tax................................ 11
Car Insurance........................... 0
Car maintenance (including MOT)......... 15
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 15
Holiday................................. 0
Emergency fund.......................... 0
Socialising............................. 20
Gym membership.......................... 30
Total monthly expenses.................. 687

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 100
Other assets............................ 0
Total Assets............................ 100

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
egg............................1000......30........17.9
mint...........................3456......80........15.9
&more..........................2335......75........19.9
hsbc...........................1500......50........17.9
halifax........................4456......100.......12.9
abbey..........................5473......95........14.9
Total unsecured debts..........18220.....430.......-

Monthly Budget Summary
Total monthly income.................... 1,011
Expenses (including secured debts)....... 687
Available for debt repayments........... 324
Monthly UNsecured debt repayments....... 430
Surplus(deficit if negative)............ -106

Personal Balance Sheet Summary
Total assets (things you own)........... 100
Total Secured debt...................... -0
Total Unsecured debt.................... -18,220
Personal net worth...................... -18,120

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

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youll need to check your figures again - £50 for food and £20 for petrol are very low monthy amounts - are these weekly??

GeorgeUK

Council tax - If you are paying this over 10 months, can you ask to pay over 12?
Gym - can't afford that right now. Maybe once the debts are under control.

You say you are making all the payments, but according to the SOA, there isn't enough money to do this?!?

If you are currnetly managing to make the paymentsm i would suggest getting a 0% card like virgin to transfer some of the higher interest rates. Wait until you get a statement showing a nil balance on the cards you clear and hopefully you will be offerred an incentive to keep the account open instead of closing it.

It is a little more work that getting a loan and paying it all off, but you only need to look at your accounts once a month and will still be able to set up DD or SO for the payments. It will be cheaper and more flexible than getting a loan. Just don't apply to too many places in a short period of time.

louietudor

i suspect once the food and petrol charges are adjusted your available funds to pay your creditors will go down and you may want to consider a DMP