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amyandjon

aww what is snowballer ??

beanielou

Just wanted to say hi & welcome!

Merlot

amyandjon wrote: »

hi hi, my mobile bill is that high because i have a payment plan of 80 ppm for 6 months due to an unexpected high bill following over use abroad so i sold my phone made 150 and now have payg which i dont use only for emergencies, we are in the process of switching home insurance who do you use merlot ?? ok il cancel sky and get the free package ive sold about we meet all the payments dont worry i have a few tricks up my sleeves, in 2 years 2 of the loans are gone, however i was curious is it better to payer the highest debt first on cc or pay the smaller soyou feel like your getting somewhere as you close the accounts ??/ am i making sense ?? im nervous that you tell me we are in a negative balance :S :S

I currently use Asda through Quidco.


I say you are in negative equity because your mortgage and secured loan is £115,000 approx and you say your house is worth £109,300 approx , therefore you owe more than your home is worth. (negative equity)

Merlot.x.

Merlot

Cud you please update the A & L Loan payment and amount owed so we have the full SOA, it would help.

I have roughly added up the monthly repayments in unsecured debt, and it is rough as I am on the Laptop and the calculator thing on here is useless, I reckon your monthly outgoings are approx £1180 in unsecured debt.

Is your mortgage on a fixed rate, if so, when does it end, I am trying to get the full picture and then we can offer some practical advice.

Merlot.x.

amyandjon

Merlot, thank you, our house is that due to the hosing market, it started at 115000 value, im in no rush to sell the house id rather stop here and get clear for another 2 years... also im just going to change some things i havent added on some of my potential earnings i feel really positive about stuff my oh is going to look in to the insurance now .... x

Merlot

Amy, you are not alone with the house worth less today than it was a few months ago, but you are going to find to very difficult to get a new fixed deal, especially with the level of debt you have. It would help to know when your current deal ends, cause we are going to have to find the extra monthly payment to meet your mortgage.

I 'm thinking ahead, and I wouldn't want you think everything was rosy and then the mortgage suddenly shoots up.

I believe in dealing with facts and figures, and that can be difficult, becoming debt free can be an emotional time, but you need to beware of the future months.

I hope I am being of help and I'm not being negative, just giving you the fuller picture I hope.

Merlot.x.

P.s. Don't forget to use Quidco for the insurance.

amyandjon

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1300
Partners monthly income after tax....... 1450
Benefits................................ 0
Other income............................ 200
Total monthly income.................... 2950

Monthly Expense Details
Mortgage................................ 542.58
Secured loan repayments................. 218.28
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 47
Gas..................................... 31
Oil..................................... 0
Water rates............................. 33
Telephone (land line)................... 40
Mobile phone............................ 80
TV Licence.............................. 11.7
Satellite/Cable TV...................... 22
Internet Services....................... 0
Groceries etc. ......................... 140
Clothing................................ 20
Petrol/diesel........................... 40
Road tax................................ 15
Car Insurance........................... 44.49
Car maintenance (including MOT)......... 35
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 30
Contents insurance...................... 25
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 18
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1478.05

Assets
Cash.................................... 0
House value (Gross)..................... 109000
Shares and bonds........................ 0
Car(s).................................. 300
Other assets............................ 0
Total Assets............................ 109300

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 89000....(542.58)...5.99
Secured Debt.................. 26000....(218.28)...9.4
Total secured debts........... 115000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Halifax cc.....................5228.83...120.......23.95
Virgin cc......................5030.29...150.......30.34
Mint cc........................2567.75...80........14.9
Halifax Loan Jon...............5296.62...132.7.....10.9
A&L lOAN expires 2012..........8000......245.5.....10.9
Halifax Loan Amy...............8163.18...151.1.....11.8
Egg Loan.......................4134.65...160.2.....9.51
Tesco Loan.....................3514.77...167.4.....6.5
Karen..........................170.......0.........0
Rich...........................300.......0.........0
Vince..........................500.......0.........0
Brother........................340.......40........0
Mum and Dad....................320.......20........0
Amys Egg CC....................1008......25........16.9
Amys Virgin cc.................1643.72...37.16.....14.88
Amys Halifax CC................1683.96...34........0
Barcaly CC.....................1209.92...27........14.9

amyandjon

pps... the phone bill for me is 80 quid m my oh pays his through the business he has othat he is currently trying to build up.. we appreciate your honesty and are willing to make the cuts it just looks shocking on paper :S

McKneff

your sky subscription is £22 and your landline telephone is £40 per month.
phew. if you have sky you can have sky, broadband and free calls for £16 per month all in.( plus paying your rental to sky or BT rental of about £10 per month

Horace

What's the £200 other income?

Looking at your SOA some more, you cannot afford to spend money on clothes, entertainment or buy presents.

Can you not get a lodger in - any rent he/she pays you can go towards your debt.