Need some help

Queen

Hi posted on here previously at my wits end, RBS are trying for a CO no CCJ as yet but that the route they are going down, but essential bills are getting out of control, mortgage gone up by £175, gas want to put monthly payment from £67 to £156, c tax gone up by £22.00, B&Contents gone up by £5 payplan calculated that after all essential bill paid we have a shortfall of £500.00 per month. Spoke with with lender they can suspend payment for this month but will need double next so this is no use. Hubby trying to go back to work has illness that will be with him for life, bad days and very bad days, employer very good keeping job open.

But what do we do eat and not pay essential ot pay essesntial and not eat.

If we sold then we would only just cover mortgage and secured.

Really someones help

Kandipandi

Hi sorry to hear about your situation!
Dont despair though you have options, is there any way you can transfer your mortgage to interest only for a while that should help, or if not is it viable to sell up and rent or buy somewhere cheaper?
Can you try and contact Gas as that sort of increase is shocking, is it that you have been paying too little (maybe they can sort out a lower repayment method for the arrears) or is it the recent price hike, if so get onto comparison websites and try to get that down.
If you post your SOA some brill people will no doubt have a look and try to offer some solutions for you. Might even help for you to see it all in black and white then you know where you stand and can see where you can make savings.
Take care - its only money, i know that does not help when you dont have enough like me!
x

deedee_3

Phone one of the debt charities imeadiatly, National Debtline are open till 9pm.. Talk with them through your options and see how they can help.

• Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111
• National Debtline - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)

• Christians Against Poverty.

Also check out https://www.entitledto.com to make sure you are getting the right benefits and tax credits.

Queen

Hi thanks for comments, mortgage is on interest only, had advice of payplan and NDL who have calculated the minimum poss for SOA, gas in due to hiked prices and not paying quite enough for the last 6 months however I am now on a fixed price plan until 2011.

Don't think we can really sell and buy cheaper as we would not have a deposit and if CO is granted then we will definately not be able to get another mortgage.

jacobia

The rise in your mortgage repayments suggest that you may have come out of a fixed rate period. If so shop around for a better deal as fixed rates seem to be coming down at moment so long as you are not in a fee period. Something I have done in the past is to call mortgage lender and increase term which in turn reduces monthly premium. I think it cost me £25.00 added to loan. When you out of sticky situation then another £25.00 to reduce the term again. Just don't forget to reduce it again though.
I am not quite in the same situation as you but using this site I have saved an absolute fortune:-
Council tax re banding = £50.00 pm reduction and £800.00 refund
Gas & elec switch = £11.00 pm reduction
Phone / broadband = £ 7.00 pm reduction
Building & Contents = £35.00 pm reduction
Car insurances x 2 = £18.00 pm reduction
AA to Autoaid = £135.00 one off saving
Shopping comparisons = £20.00 per week at least incl free delivery

The only thing I haven't done yet is my mortgage which has a further 2 years on a fixed rate. Be assured that as soon as I am out of the fix I will be switching.

Above is not a gloat but an illustration of what can be done by spending a bit of time using the advice and guidance of this site and its users. It's fantastic.:T

Best of luck with sorting yourself out.

tealady

Hi Queen. If you put up your SOA then (hopefully) we may be able to help you make savings.