Help with finances before it's too late

sunshineonarainyday_2

Hi,

My DH and I are really struggling since our mortgage went up a few months ago. We have been unable to remortage due to a lack of affordability so are stuck on the SVR. So far we have kept the payments under control but we cannot make our payments this month as we have used up everything we had.

Can anyone help me with what w can do?

dancingfairy

Hi. Don't panic there will be solutions. We just need a bit more info.

How much is the mortgage for? how much do you have towards it?
Are you paying any other loans/credit cards which is not helping the situation?

Can you post an SOA please- a full list of everything coming in and going out so we can see what the situation is. If you contact one of the debt charities they will need this info as well - the ones to think about are CAB/CCCS/National Debtline.
Is there any equity in the house? can you sell and rent?
Is this a short term problem - ie lack of wages this month/started a new job/illness etc or more of a long term problem?

Anyway if you can answer these questions we'll see what we can come up with.
dancingfairy.

dancingfairy

Just a bump so you don't fall off the front page.

GeorgeUK

Also, post up a soa which hopefully we'll be able to spot some areas to save on.
http://www.makesenseofcards.com/soacalc.html

Can you switch to interest only for a while?

Have you tried reclaiming bank charges and creditcard charges?
Check you are in the right council tax band
http://www.moneysavingexpert.com/reclaim/