County court day- what next?

2makeit

well just been to county court about one loan i owe.
Its not the best place to be as they tell you you are in a bad situation and i know it badly.
Had a good word with the other solicitor who told me about charging orders made against property. The judge remarked on my loans owed and said that it was it wasn't a good idea for the lenders to get a charging order on my house because of my situation.
Think i might have a month or two before the lender arranges another court meeting to apply for a charging order again.

Am definately in a bad situation and have added up money owed to lenders and its not good.
Along with my mortgage in arrears i am desperately looking for jobs(most are minimum wage which won't cover my expenses.
I might have to look into selling up but that costs money and don't want to really as would struggle to get back onto property ladder again.

Anybody know of jobs round Stoke on Trent area?

i have been in contact with the CCCS who are very good and reassuring with good advice and help.

RAS

Welcome

We really need to know a bit more.

Like - what have CCCS advised you to do. Do you have a CCJ for this debt already. How much equity is there in the house?

Also can you provide a SOA, so we understand your situation better?

2makeit

Hope this is right for my SOA

Incoming
Benefits JSA -£236

Outgoing
Mortgage -£580
Council tax -
House insurance -£15
Gas -£20
Electric -£20
Tv licence -£10
Phone +rental -£15
Food -£40
Car insurance -£50
Petrol -£20
Internet -£18


tesco loan - £14700
bank overdraft - £2850
credit card -£2000
debt collectors -£865, 573, 9300, 3700

how do i get out of this one?

2makeit

oh well looks like its time to sell up

depressing times

milliemonster

I know you said that all the jobs you have seen are minimum wage only and don't pay enough to meet your expenses but you are only getting JSA now which is clearly not meeting your expenses!which is much less than minimum wage, and you have to start somewhere!

here is the link for a proper detailed SOA http://www.makesenseofcards.com/ fill this in and post it up again

This may mean the difference between losing your house and being able to sort yourself out

2makeit

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 236
Other income............................ 0
Total monthly income.................... 236

Monthly Expense Details
Mortgage................................ 550
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 20
Gas..................................... 20
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 12
Mobile phone............................ 0
TV Licence.............................. 18
Satellite/Cable TV...................... 0
Internet Services....................... 18
Groceries etc. ......................... 45
Clothing................................ 0
Petrol/diesel........................... 30
Road tax................................ 16
Car Insurance........................... 50
Car maintenance (including MOT)......... 5
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..................... 10
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 824

Assets
Cash.................................... 0
House value (Gross)..................... 115000
Shares and bonds........................ 0
Car(s).................................. 1200
Other assets............................ 0
Total Assets............................ 116200

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 85000....(550)......0
Total secured debts........... 85000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................14600.....1.........0
cc.............................2000......1.........0
x loan.........................9300......1.........0
od.............................2500......1.........0
x overdraft....................870.......1.........0
x cc...........................575.......1.........0
x cc...........................3700......1.........0
Total unsecured debts..........33545.....7.........-

Monthly Budget Summary
Total monthly income.................... 236
Expenses (including secured debts)....... 824
Available for debt repayments........... -588
Monthly UNsecured debt repayments....... 7
Surplus(deficit if negative)............ -595

Personal Balance Sheet Summary
Total assets (things you own)........... 116,200
Total Secured debt...................... -85,000
Total Unsecured debt.................... -33,545
Net Assets.............................. -2,345

milliemonster

Is your mortgage interest only? although to be honest as you are in arrears you won't have the option to change it to interest only at the moment.

Is there any way you can increase your income?, you have to find a job!, can you claim mortgage interest relief with you being unemployed? a 40 hr a week job on minimum wage would give you a gross pay of £1031 compared to your £236 JSA, I appreciate that you would then have to pay council tax but you you would more than likely get working tax credit aswell to top this up, surely this is better than the situation you are currently in?

I can't see any other way how you could possibly get on top of everything with your current outgoings, I don't think in the present climate you are going to be able to sell your house in time to rescue things anyway.

You need to find work and fast I'm afraid

ajaney

Hi,

I know many jobs are minimum wage but once you are working, it is easier to get another job. There is also the prospect of promotion.

Would it be possible to know if you have been out of work long or what you have done for employment in the past?

Could you get a lodger (not clear whether you live alone?)

2makeit

i have applied for interest relief help so will see if it goes ahead.
I have asked about tax relief which will help and also there is help if new clothes or travel are needed.

Not a good time to sell either and that costs money..

I have trained in computers, engineering, driving, warehousing, building, diy all sorts really.

Just looking for that break to help me back into it.

2makeit

i have applied for interest relief help so will see if it goes ahead.
I have asked about tax relief which will help and also there is help if new clothes or travel are needed.

Not a good time to sell either and that costs money..

I have trained in computers, engineering, driving, warehousing, building, diy all sorts really.

Just looking for that break to help me back into it.