newbie on here starting to tackle massive debt

pittel

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 5
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 3276
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 1245
Total monthly income.................... 4521
Monthly Expense Details
Mortgage................................ 1500
Secured/HP loan repayments.............. 800
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax.............................35
Electricity............................. 120
Gas..................................... 80
Oil..................................... 25
Water rates............................. 0
Telephone (land line)................... 65
Mobile phone............................ 10
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 80
Groceries etc. ......................... 480
Clothing................................ 50
Petrol/diesel........................... 160
Road tax................................ 63
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 120
Pet insurance/vet bills................. 0
Buildings insurance..................... 143
Contents insurance...................... 37
Life assurance ......................... 66
Other insurance......................... 126
Presents (birthday, christmas etc)...... 0
Haircuts................................ 50
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 50
Total monthly expenses.................. 4113

Assets
Cash.................................... 0
House value (Gross)..................... 590000
Shares and bonds........................ 2200
Car(s).................................. 8000
Other assets............................ 0
Total Assets............................ 600200

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 115000...(1500).....2.53
Secured Debt.................. 174000...(695)......4.85
Total secured & HP debts...... 289000....-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
card1..........................12500.....200...... .19
card2..........................11600.....190...... .18.9
card3..........................2500.......30...... .18.3
loan2..........................1800......98....... .9
loan1..........................12000.....393...... .9.38
Total unsecured debts..........40400.....911......-

Monthly Budget Summary
Total monthly income.................... 4521
Expenses (including HP & secured debts ..4113
Available for debt repayments........... 408
Monthly UNsecured debt repayments....... 911
Amount short for making debt repayments. -503

Personal Balance Sheet Summary
Total assets (things you own)........... 600,200
Total HP & Secured debt................. -289,000
Total Unsecured debt.................... -40,400
Net Assets.............................. 270,800
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser

could be errors in this,still rechecking..

i am at least 500euros per month short at present..

savingholmes

hi pittel - have you rung any of the debt charities yet for advice? Are you robbing peter to pay paul or what is the situation? Any of the other family members contributing to help with the short fall?

pittel

If I can let one property..it will bring in 500 a month..the 2 about 11OO...things were going ok until the 2 became vacant..only 1 is up for letting at the moment as i am still redecorating the other..I am actively looking at other ways of letting..other avenues..

My wife is now working full time and is paying one of the loans..this was shown on the first,but not on the second soa..

i now owe 18000 less om my own house mortgage and almost 7000 less on short term loans...

i am confident that I can recover the situation..

number 2 child is paying for all his food ,now working 2 days a week while in college..likewise number 3

savingholmes

well done - it definitely sounds like it is an improving situation then... How long is it going to take for your rental properties to be ready again? Are you reasonably confident that you are going to let them soon?

pittel

Thanks Savingholmes...the smaller house is ready..2 to 3 weeks for the other..hopeful rather than confident..but I will be trying all angles to let them..