Pls I need some help

Queen

Hi, posted on here previously I donn't what to do and cann't stop worrying my mortgage will increase by £130 to £825 in Sept, gas gone up to £156 per month but asked them to leave at £67 under protest they will do this for a few month, husband off due to illness only getting incap of £72.55 my income has dropped by £400 + his wages approx £1000 short amonth off the top of my head worried that I cann't afford this months mortgage dd dueout this Friday, need to do a new soa but payplan say that we have a short fall of £577 this is not including my reduced income we are not even covering our out goings this means we cann't afford to live, eat anthing I have 2 children and a sick husband who doesn't seem to be able to go to work for more than a few days at a time, and to top it all I've just found out that my aunty has died what a bad day

Help pls

tadd318

Hi
Sorry I can't really help you but I'm sure somebody will be along soon that can.
Just wanted to say you are not alone and I'm sure you'll get some good advice soon.

Staciep88

Hi there, could you please post a SOA so that we can see exactly what is coming in and what is going out - it will make it alot easier thanks and dont panic - we are hear to help

Queen

Ok will try and do that this evening

Horace

Queen - post your SOA using https://www.makesenseofcards.com/soacalc.html - there is a button on there to configure it to MSE.

Try not to fret too much because I am sure we will be able to help you out.

Robbda

Hi Queen

One thing i have learnt from my short time on this board is that however bad it seems, how ever big the debt, however little the income - there is a light at the end of the tunnel the people on here are fab, post your SOA, call CCCS or Payplan explain to them, you don't have to agree to anything but they can give you options - i thought my world was going to fall apart when i lost my job but with a little sacrifice, determination and a whole heap of support from here, i've made a start and i feel positive again, i even paid my first debt off with the " a payment a day" challenge it was a small step but it was a start xxx

pink_princess

Queen i hope every-thing improves,it s a long road but it can be done and people will support you hope OH gets better. x

dancingfairy

You need to prioritise. The most important bills (not in order) are council tax, mortgage, electric, gas, food , clothes (only if really,really, really necessary), petrol to get to work, any tax money due to the government etc.
Do not worry about the t.v licence, credit cards etc or anything that will not threaten your survival to begin with.
1) your OH needs to obviously get help from his doctor - does he need counselling/referring to another service for further help? etc
2) I would make sure you have enough to pay for food etc and phone the mortgage company and explain you are having a bad month and pay what you can - even if it's half, you do need to leave enough to pay for food and electric/gas etc though. I would follow this call up with a letter explaining that this month has been tight and you are getting advice from CCCS/CAB etc - you need to put it in writing.
3) would definitely get a second opinion from CCCS/National Debtline/CAB even though you have taken advice from Payplan -it can't hurt to get a second opinion.
4) are you wages going to be permanently reduced or is it just this month?
5) Long term you obviously need to see if you can remortgage at all and get that rate down, see if a DMP is an option or whether you will need to sell up and rent.

Oh and Lots and Lots of hugs. You will get there one step at a time.

RAS

Hi

Please take things one step at a time.

Regarding the sofa, sign up on www.freecycle.org and get one for nothing more than the collection cost. Not new but right now you cannot afford to add to your debts.

Queen

Hi Raz, thanks for comments, but the messages reads SOA statement of affairs and not sofa it would be the last thing I bought at the moment.

Thanks

Queen

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1250
Partners monthly income after tax....... 370
Benefits................................ 267
Other income............................ 0
Total monthly income.................... 1887

Monthly Expense Details
Mortgage................................ 825
Secured loan repayments................. 120
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 144
Electricity............................. 140
Gas..................................... 156
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 44
Mobile phone............................ 75
TV Licence.............................. 11
Satellite/Cable TV...................... 47
Internet Services....................... 18
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 18
Car Insurance........................... 53
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 80
Childcare/nursery....................... 45
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 30
Buildings insurance..................... 35
Contents insurance...................... 0
Life assurance ......................... 20
Other insurance......................... 35
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2474

Assets
Cash.................................... 0
House value (Gross)..................... 185000
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 189000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 165000...(825)......0
Secured Debt.................. 17000....(120)......0
Total secured debts........... 182000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
RBS............................20200.....9.25......0
Barclay Card...................750.......10........0
Barclay Card...................400.......10........0
Barclays Overdraft.............600.......10........0
GE Money.......................500.......1.........0
Next...........................800.......5.........0
HFC............................1100......1.........0
HFC............................1500......1.........0
Total unsecured debts..........25850.....47.25.....-

Monthly Budget Summary
Total monthly income.................... 1,887
Expenses (including secured debts)....... 2,474
Available for debt repayments........... -587
Monthly UNsecured debt repayments....... 47.25
Surplus(deficit if negative)............ -634.25

Personal Balance Sheet Summary
Total assets (things you own)........... 189,000
Total Secured debt...................... -182,000
Total Unsecured debt.................... -25,850
Net Assets.............................. -18,850

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

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