my soa ....feedback please.. :)

ems08_2

Right so heres our situation.

We have a mortgage with northern rock….fixed term ended and mortgage went up another 200 per month.

We had struggled before this….and had resorted to taking out cash with the credit card to pay our bills.
Weve missed a month on our mortgage and secured loan on the property with no hope of paying next month let alone catching up. We know the house has to go and that our only option is repo and BR…weve disscused this at length with national debt line.

We have a mortgage of 140,000.…..a secured loan of 30,000...and the house is only worth 125,000 now .
We also have 15,000 of un secured debts.

We cant afford this house any longer and are honestly quite relieved that it is going to be taken from us.

Debtline have advised us that we would be better off finding somewhere to rent asap so that we have accurate outgoings for our OR as we know that repossession is inevitable.

Im going to be loosing my job in 2 weeks as my employers are terminating my contract due to my circumstances , I work in the financial services industry in a performance related job .
So my income will be irrelevant so is not included.
our outgoings are for myself, my hubby and our 6 year old.


Income : this is tricky as hubby has been doing a lot of overtime up till last month as he was retraining in work….but hes trained up now so the overtime will be few and far between….so if anyone can advise me how they may work this out it would be a great help.
This is all after tax and monthly.

Basic: 1503
Average year to date with overtime: 1993
Child benefit: 70
Child tax credit: 40
Total on a basic month: 1613
Total with previous overtime: 2103


Outgoings:

Rent : 595

Management charge: 14

Council tax: 102

Electric: 60

Gas: 50

Water:32

Home phone: 20

Mobile: 45 ( im in an 18 month contract with this and want to get out of it…any ideas on how I stand ? )

Tv licence: 12

Housekeeping: 500 (can I include cigarettes in this…is this allowed ? )

Car : 141 (including petrol for work but not for my mother in laws trips to hospital, tax, mot, and servicing)

Clothing: 120 ( may be refused….but im real tall and have huge feet for a girlie lol and my shoes alone cost me a min of 50 a time )

Health: 21

Contents insurance: 20

Haircuts : 15 (no where near…but I have a feeling I will have to change my stylist )

Holidays: 40

School dinners: 27

Life insurance: 15

Child activities: 20

Total : 1849

PROBLEM : on a basic month we still have a deficit but I don’t want to chip away at our outgoings incase the OR takes too much of hubbys overtime into account and we have to arrange payments.
Any advise ?
Hubby quite rightly doesn’t want to continue to work 72 hrs a week and we are scared he will have to …he wont have the option mind as the overtime simply isn’t there anymore.

thanks em x

pink-lint_2

hi

are yous both going BR or just one ?

just on the soa is it total for both incomes , its quite confusing how youve worded it.

if you take a look at other soas posted it might help you list more in order ( soz if this sounds cheeky ):o

i know it took me ages to do my hubbys as he is going BR by himself .


hope you get sorted


pinkx

ems08_2

lol rite.....my heads not with me lol

both of us are going BR.
at the time of going BR...i wont have an income so its just based on hubbys income.

betterlatethannever

ems08 wrote: »

Right so heres our situation.
We have a mortgage with northern rock….fixed term ended and mortgage went up another 200 per month.
We had struggled before this….and had resorted to taking out cash with the credit card to pay our bills.
Weve missed a month on our mortgage and secured loan on the property with no hope of paying next month let alone catching up. We know the house has to go and that our only option is repo and BR…weve disscused this at length with national debt line.
We have a mortgage of 140,000.…..a secured loan of 30,000...and the house is only worth 125,000 now .
We also have 15,000 of un secured debts.
We cant afford this house any longer and are honestly quite relieved that it is going to be taken from us.
Debtline have advised us that we would be better off finding somewhere to rent asap so that we have accurate outgoings for our OR as we know that repossession is inevitable.
Im going to be loosing my job in 2 weeks as my employers are terminating my contract due to my circumstances , I work in the financial services industry in a performance related job .
So my income will be irrelevant so is not included.
This all includes myself, my hubby and our 6 year old.


Income : this is tricky as hubby has been doing a lot of overtime up till last month as he was retraining in work….but hes trained up now so the overtime will be few and far between….so if anyone can advise me how they may work this out it would be a great help.
This is all after tax and monthly.
Basic: 1503
Average year to date with overtime: 1993
Child benefit: 70
Child tax credit: 40
Total on a basic month: 1613
Total with previous overtime: 2103
Outgoings:
Rent : 595
Management charge: 14
Council tax: 102
Electric: 60
Gas: 50
Water:32
Home phone: 20
Mobile: 45 ( im in an 18 month contract with this and want to get out of it…any ideas on how I stand ? ) is this for one phone? you might be able to reduce it by calling them and threatening to leave, but otherwise your pretty stuck. Its not too high though, so try not to stress.
Tv licence: 12
Housekeeping: 500 (can I include cigarettes in this…is this allowed ? )cigs not allowed
Car : 141 (including petrol for work but not for my mother in laws trips to hospital, tax, mot, and servicing) you need to include all costs for a car, seperatly, and include breakdown cover.
Clothing: 120 ( may be refused….but im real tall and have huge feet for a girlie lol and my shoes alone cost me a min of 50 a time ) a little high.
Health: 21 is this prescriptions/opticians/dentist?
Contents insurance: 20
Haircuts : 15 (no where near…but I have a feeling I will have to change my stylist )thats fine as it is
Holidays: 40
School dinners: 27 doubt they will allow as you HK is high
Life insurance: 15
Child activities: 20
Total : 1849
PROBLEM : on a basic month we still have a deficit but I don’t want to chip away at our outgoings incase the OR takes too much of hubbys overtime into account and we have to arrange payments.
Any advise ?
Hubby quite rightly doesn’t want to continue to work 72 hrs a week and we are scared he will have to …he wont have the option mind as the overtime simply isn’t there anymore.

thanks em x

Just a few, late night, adjustments.
I'm sure someone else will come along with better in the light of day.:D

ems08_2

Basic: 1503
Average year to date with overtime: 1993
Child benefit: 70
Child tax credit: 40
Total on a basic month: 1613
Total with previous overtime: 2103
Outgoings:
Rent : 595
Management charge: 14
Council tax: 102
Electric: 60
Gas: 50
Water:32
Home phone: 20
Mobile: 45 ( im in an 18 month contract with this and want to get out of it…any ideas on how I stand ? ) is this for one phone? you might be able to reduce it by calling them and threatening to leave, but otherwise your pretty stuck. Its not too high though, so try not to stress. yeah this is for one ....i shall give them a ring.
Tv licence: 12
Housekeeping: 500 (can I include cigarettes in this…is this allowed ? )cigs not allowed omg ...bloody great!
Car : 141 (including petrol for work but not for my mother in laws trips to hospital, tax, mot, and servicing) you need to include all costs for a car, seperatly, and include breakdown cover. shall do that now
Clothing: 120 ( may be refused….but im real tall and have huge feet for a girlie lol and my shoes alone cost me a min of 50 a time ) a little high.
Health: 21 is this prescriptions/opticians/dentist? dentist and glasses for me
Contents insurance: 20
Haircuts : 15 (no where near…but I have a feeling I will have to change my stylist )thats fine as it is
Holidays: 40
School dinners: 27 doubt they will allow as you HK is high whats hk ?
Life insurance: 15
Child activities: 20
Total : 1849



thanks , em x

betterlatethannever

Hk is housekeeping

i know what you mean about the fags. Its time to either give up (yeah, as if:rolleyes: the most stressful time fo your life and your expected to give up ) pay for it from your excess, or take up rollies

Rylynn

Rollies never done one in my life had one though YUK..

Do not even mention ciggies.. if you smoke they have to be lost elsewhere.

Bit like cream cakes and chocolate if you are an addict to chokkie.. thank god I cant abide the stuff..

ems08_2

lol rite.....u mmmmmm if i give up the fags....i will not only loose my home and job but also my family lol....rollies i think then ....hmmmm nice lol

what would you suggest for housekeeping ?

ta , em x

LilyBart

Housekeeping too high, ems. For two adults and a 6 year-old, you should be looking at £400-£450 max.
Lily
ps If you buy a rolling machine and a pack of filters and get into practise, you can roll 15-20 cigarettes while watching one episode of QI.

LilyBart

And if you rootle around in any charity shops you're passing, you might find a nice cigarette case for a couple of quid, so you can store your handmade fags in there. It's a retro-chic way of avoiding the dog-on-a-string look.

ems08_2

rite so u think they will accept that ?
o neva thought of tv....i think i mite laugh too much if QI is on mind...since i shall have no work im gonna have to find some more programs i like again....shame i wont have my sky+ nemore eh !....neva mind ...praps ill make a good housewife lol.......yeah rite"!!