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Debt Predictor Results

Please find below an example report from the Debt Predictor based on the following situation:

   
Property Value £160,000
Outstanding Mortgage £120,000
Monthly payments:£480
Fixed Rate of 4.50% until 20/07/2009
Monthly Household bills excluding debts and food £450
Monthly Food costs £500
Annual Income (Monthly Net) £25,200 (£1,700)
Credit Card 1 Balance £5,000
Rate :0%
Fixed until 20/05/2009
Credit Card 2 Balance £2,000
Rate :0%
Fixed until 20/08/2009
Credit Card 3 Balance £1,000
Rate :0%
Fixed until 20/08/2009
Loan 1
Monthly Payment £25
Due until 20/05/2010
Loan 2
Monthly Payment £50
Due until 20/03/2012
  Current Position change in 5 years Prediction In 1 Years Prediction In 3 Years Prediction In 5 Years
Income
Net income
£1,700.00
UP £165.65
£1,706.40
£1,781.11
£1,865.65
Outgoings
Household Bills
£451.16
UP £75.62
£464.03
£493.18
£526.78
Food
£501.29
UP £84.02
£515.59
£547.98
£585.32
   
Mortgage Interest Payments
£480.00
UP £373.33
£720.00
£773.33
£853.33
Loan Payments
£75.00
DOWN £-75.00
£75.00
£50.00
£0.00
Credit Card Payments
£167.50
DOWN £-120.51
£129.84
£78.07
£46.99
           
Total Outgoings
£1,672.50
UP £339.92
£1,904.47
£1,942.57
£2,012.42
Disposable income
£27.50
DOWN £-174.27
£-198.07
£-161.46
£-146.77

in order to meet all of these payments you will need to find at least an additional £ 8,935 over the 5 year period
           
Property Assets
Value
£160,000.00
DOWN £-20,292.68
£164,859.04
£146,153.16
£139,707.32
Equity
£40,000.00
DOWN £-20,292.68
£44,859.04
£26,153.16
£19,707.32
           
Debt
Credit Card : Card 1
£4,900.00
DOWN £-3,343.99
£3,845.11
£2,367.74
£1,458.01
Credit Card : Card 2
£1,955.00
DOWN £-1,411.95
£1,487.81
£861.69
£499.06
Credit Card : Card 3
£977.50
DOWN £-705.98
£743.91
£430.84
£249.53
Loan : Lender 1
£450.00
DOWN £-450.00
£150.00
PAID
PAID
Loan : Lender 2
£2,000.00
DOWN £-2,000.00
£1,400.00
£200.00
PAID
           
Debt Totals
£10,118.52
DOWN £-7,911.92
£7,626.83
£3,860.28
£2,206.60
Statistics
% of income paying mortgage
28.24
UP 17.50%
42.19
43.42
45.74
% of income paying cards and loans
14.12
DOWN -11.60%
12.00
7.19
2.52
% of income paying household bills
56.03
UP 3.58%
57.41
58.46
59.61

 

Why not enter your own details and see how your finances may go, it takes into account inflation and interest rates too.

 

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