looking for abvice

10bob

hi all
am new to this site,any advice gladly accepted

problem is i am skint -up to my eyes in it,the more i earn the more i have to shell out

we are family of four me the wife and 2 lads 11 & 13 and the dog
income is £2300 jointly
we have a £170k morgage £30k-£40k neg eq, paying £1250 a month
debts of £30k - some are on min payment
plus living costs

we can just survive on income but there is nothing left after for anything
question is am i best struggling thro trying to keep house or to get it reposest and going into rent maybe going br aswell

many thanks

Annamarie_2

hi 10bob

i am only new myself but if you post an soa the guys here will relly help you out

best of luck

Annamarie_2

here is the link http://www.makesenseofcards.co.uk/soacalc.html

when you fill it in copy and paste it over here and the pros will give you great advise

whatatwit

Hi Bob, well done for posting.

If you do the SOA, there will be loads of help and advice flooding your way.

Have you contacted either of the debt charities, Payplan and CCCS are the ones that don't charge you and if necessary will help you sort out a DMP, Debt Management Plan.

Tixy

Hi 10bob and welcome.

As others have said the SOA is the best way for people to help and advise you. Hopefully people will be able to suggest ways to save you enough money that you will be able to keep your house. If you can keep up with your repayments and don't need to move house then negative equity doesn't need to be too scary. In time the market will improve and as you make repayments your mortgage will come down.
If you complete the SOA do try to put in as much info as possible (this sometimes means opening scary letters that otherwise sit around unopened to find out the current balances and interest rates) but it really is worth doing.
Good luck
Tixy

RAS

10Bob

Have you spoken to any of the debt charities listed here? http://www.moneysavingexpert.com/loans/debt-help-plan#help They can provide specialised advice.

Remember negative equity only bits you in the bum if you sell or have to sell. If you can keep the house, the market will improve and you will regain the equity.

doodledo_2

Hi Bob and welcome to the forum.

Like the others have said complete your SOA using the link below and post it up on the forum and then it will be much easier for the lovely people on here to see your situation and advise accordingly.

Keep posting and good luck