Whats are your thoughts DMP best for me

MoneyPleaseHelp

What do you guys thing is best, i have been cutting down over the last few months but still living on credit

heres my lastest SOA

Monthly Wage £1,754.48

Monthly Outgoings

TV LICENCE QBP1 £ 12.00
Council Tax £ 56.00
Mortgage £ 333.00
House insurance £ 4.70
Contents insurance £ 9.30
SEVERN TRENT WATER £ 18.00
life insurance £ 20.00
TALKTALK £ 8.82
ORANGE £ 41.18
E.ON gas electric £ 30.00
Vehicle spares and servicing £ 10.00
Road tax £ 17.00
Motor insurance £ 29.00
Vehicle breakdown cover £ 4.00
Fuel & parking £ 155.00
Food, toiletries, cleaning £ 120.00
meals at work £ 35.00
pet food £ 20.00
Hairdressing £ 10.00
Clothing & footwear £ 16.00
Sundries/emergencies £ 5.00
Sports, hobbies, entertainment £ 5.00

Debt

Cahoot
Personal
Loan
£12,000 oustanding
£240 Per Month

First Direct Overdraft £900 but currenty over that so its 1300 in total

First Direct
Personal
Loan
£6,000 outstanding
£97 per month

First Direct
Personal
Loan
£14,000 outstanding
£281 per month

Northern Rock
Personal
Loan
£22,000 outstanding
£411 per month

virgin credit card Credit Card £1,400 outstanding
£40 per month

Any help or advice would be great, I did the CCC nline thing and it said DMP would be best.

Gemmzie

Could you re-edit your SOA a bit please hun? It's really hard to read

~Beanie~

MoneyPleaseHelp wrote: »

What do you guys thing is best, i have been cutting down over the last few months but still living on credit

heres my lastest SOA

Monthly Wage £1,754.48

Monthly Outgoings

TV LICENCE QBP1 £ 12.00
Council Tax £ 56.00
Mortgage £ 333.00
House insurance £ 4.70
Contents insurance £ 9.30
SEVERN TRENT WATER £ 18.00
life insurance £ 20.00
TALKTALK £ 8.82
ORANGE £ 41.18
E.ON gas electric £ 30.00
Vehicle spares and servicing £ 10.00
Road tax £ 17.00
Motor insurance £ 29.00
Vehicle breakdown cover £ 4.00
Fuel & parking £ 155.00
Food, toiletries, cleaning £ 120.00
meals at work £ 35.00
pet food £ 20.00
Hairdressing £ 10.00
Clothing & footwear £ 16.00
Sundries/emergencies £ 5.00
Sports, hobbies, entertainment £ 5.00

Debt

Cahoot
Personal
Loan
£12,000 oustanding
£240 Per Month

First Direct Overdraft £900 but currenty over that so its 1300 in total

First Direct
Personal
Loan
£6,000 outstanding
£97 per month

First Direct
Personal
Loan
£14,000 outstanding
£281 per month

Northern Rock
Personal
Loan
£22,000 outstanding
£411 per month

virgin credit card Credit Card £1,400 outstanding
£40 per month

Any help or advice would be great, I did the CCC nline thing and it said DMP would be best.

I make your outgoing £2018 which means you overspend each month by about £263.

Is the food etc just for you? Can you reduce this? Can you get rid of your mobile phone and stop having meals at work? Is there any chance of increasing your income - get a second job, sell stuff on Ebay etc? Have you got a spare room that you could rent out?

You seem to have c£55K in personal loans, is that right? That's quite high - maybe a DMP would be a good idea. Try speaking to one of the Debt Management Companies over the phone and see what they advise (one of the FREE ones!) At the moment you are spending over half of your income repaying debts and that is without including your mortgage.

MoneyPleaseHelp

Is the food etc just for you? Can you reduce this? Can you get rid of your mobile phone and stop having meals at work? Is there any chance of increasing your income - get a second job, sell stuff on Ebay etc? Have you got a spare room that you could rent out?

You seem to have c£55K in personal loans, is that right? That's quite high - maybe a DMP would be a good idea. Try speaking to one of the Debt Management Companies over the phone and see what they advise (one of the FREE ones!) At the moment you are spending over half of your income repaying debts and that is without including your mortgage.[/quote]

yes food just for me, I will take sandwichs in that should save some money.

I am tied in a contract with the mobile phone so not sure ?

I work 6 days a week so second job will be hard to fit in,

no spare room,:-(

yes 55K in unsecured loans :-(

I am trying to buy and sell on ebay, but running out of stuff to sell :-)


I was going to call CCC this week and see what they say

any more ideas or help