debt problems ruining my life

Mentalminis_2

Ha ha Decisions decisions indeed.

is a diffrence in opinion regarding rent today, will have to wait until next tuesday before i can make an informed decision on that score.... it does look as though £495 pcm is achivable however, it just depends on the finish of the decorating and garden as £550 has also been throw in as a top price for this property, if everything was diamond.

it all depends upon my creditors also, if they will accept pro rata payments of whats left at the end of the month, will they actually stop all intrest charges etc?

still a lot to sort out, and theres also the possibility of a remortgage to clear the debt completly in one foul swoop, although would end up paying heaps in interest that way...but i have about 40k equity in the property provided it's been decorated after the windows are fitted (my lounge is diabolical after taking the wallpaper down and finding the walls weren't good enough to just straight paint..lol).

Bargain_Rzl

Mentalminis wrote:

as regards to renting out just the room, the average price per room is £60 per week here. however doing this means i lose my single

Not if you rent to full-time students. Students can get an exemption certificate for council tax which would mean you would still qualify for your 25% off.

Mentalminis_2

would depend if my mortgage company would still let me rent out the single room and to students, i know on the whole house deal they ask if your renting to students/dss etc etc

i think i am gonna go with the whole house route and concentrate on that.... is just a case of getting my creditors to accept a pro rata payment of £35 and to stop all future interest, i know my credit companys would accept the payment but whether they'd then stop interest accumulating on top of that then i don't know, mbna are being a pain in the butt, is the bank thats being the tough one to crack (putting it nicely).

then it's just a case of getting the house ready as quickly as possible and getting the tenent in.

doing it at £35 allowes me to give the same to my father for loaning me money in the past to help pay some of that back, and also leaves me with a little each month also for emergancy repairs to the car or whatever.

hopefully the full time job is just around the corner aswell so it wouldn't be forever like.

pollypocket

Hiya mentalminis,
With your low income it may be worthwile contacting your local Housing Benefit/Council tax department and apply for council tax benefit - you will need to fill in the form and give them payslips for the last two months(if paid monthly) or last 5 weeks (if paid weekly). If you struggle with forms try the CAB or other local housing advisors and they may be able to help.
Due to the overtime that you can work coming up to Xmas you may not get anything at the moment but worth trying again in the New Year.
Good luck
Polly

Mentalminis_2

Hi Polly,

my fault i should have already mentioned i had been down this route and i am getting a whole £2 a month knocked off my council tax. apparently thats all the help i am allowed benifit wise aswell because the CAB lady did a check for me at my appointment.

Mentalminis_2

just thought i'd give you all an update, i know it's so close to christmas now and so many people will be too busy to check the boards and for those people i wish them a merry christmas because all the hard work deserves a great come back in festivity enjoyment.

Well i have been doing the extra day for a while now, although not reached a paycheck date yet and not actually recived the contract for this either, it's so busy in the store with christmas and everything i just can't pin the managers down to get me it.

I am moving out of my house this weekend and back into my parents house, this is a scary thought in a way and means that it's really happening. we have set ourselves a target of the begining of feb to get the house on the rental market, this will help no end on paying my creditors back and getting in control of my financial situation again.

MBNA have called me and if i am able to make monthly payments of £27 starting from this month they will knock £800 off from my total debt, capital one are letting me do the non payment thing until the end of feb and hsbc is still not budging, however if i feel i can pay there hiked up prices for a while as the two accounts when averaged out only comes to £34 each which is what i was hoping to pay anyway.... just means they don't actually get £34 each but the money they want.

I am going to ring CAB again this morning and run this past the woman i spoke to about this orginally and see what she says first.

wigginsmum

Good luck, MM!

Jules

Mentalminis_2

well i have rung CAB

They have said the deal that MBNA have offered me is very good indeed so i have started that off, made them a payment this month and will be making payments of £27 until march time when i have said i would like to have a review done on the situation (under advicement from the CAB) i shall then be sending them a personal budget again with all the debts i owe, including this time the debt i owe family members aas the woman at the CAB has told me that if we actually have a final figure after the house is all sorted then we can put that in as a priority debt because my father was paying my mortgage for me for a while. this makes me happy as i was worried about when my farther would start seeing some return on the loans he has so kidly given to me, this way it means he will definatly get some whilst hopefully being able to deal with my non priority creditors also.

I am at the moment just paying a pound into my other accounts until we (myself and CA) have come to an amicable agreement with HSBC, we areusing holding tactics at the moment until i can get the money from the rental of the house, or at least as close to it as possible so that we then know what is actually available to offer.

It's christmas eve tomorrow and i shall be spending the majority of the day sorting through my lounge and dining room as to what i want to keep in storage and what i can let go, and my mother bless her cotton socks has said that she will continue with the stripping of the wallpaper in the master bedroom.... not very festive but oh well.

Hope everyone has a lovely christmas and i'll keep everyone posted as things happen

mummytofour

:xmassign: :rudolf: :xmassign: :xmastree: :snow_grin

Little_Miss_Winner

Hi Mentalminis,

Just took me an hour to read through your posts!!

Well done on being so positive! I am sure your doing the right thing. You sound like you have wonderfully supportive parents, which money can't buy!

Have a lovely Christmas......and let us all know how you get on.

:xmassign: :xmastree:

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