Confused with what decision to make....

willow41

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1400
Benefits................................ 383
Other income............................ 0
Total monthly income.................... 1783
Monthly Expense Details
Mortgage................................ 703
Secured/HP loan repayments.............. 303
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 111
Electricity............................. 45
Gas..................................... 45
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 35
Mobile phone............................ 25
TV Licence.............................. 12
Satellite/Cable TV...................... 18
Internet Services....................... 0
Groceries etc. ......................... 320
Clothing................................ 10
Petrol/diesel........................... 80
Road tax................................ 17
Car Insurance........................... 12
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 24
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 10
Buildings insurance..................... 15
Contents insurance...................... 0
Life assurance ......................... 15
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1845

Assets
Cash.................................... 0
House value (Gross)..................... 185000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 185800

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 151000...(703)......0
Secured Debt.................. 31000....(303)......0
Total secured & HP debts...... 182000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
benficial finance..............10000.....50........0
nationwide loan................5540......25........0
nationwide o/draft.............2960......67........0
barclays o/draft...............1823......0.........0
NEXT...........................810.......5.........0
HFC............................440.......5.........0
virgin.........................1958......78........0
provident......................385.......5.........0
freemans.......................499.......19........0
barclaycard....................657.......14........0
halifax........................1274......5.........0
Total unsecured debts..........26346.....273.......-

Monthly Budget Summary
Total monthly income.................... 1,783
Expenses (including HP & secured debts). 1,845
Available for debt repayments........... -62
Monthly UNsecured debt repayments....... 273
Amount short for making debt repayments. -335
Personal Balance Sheet Summary
Total assets (things you own)........... 185,800
Total HP & Secured debt................. -182,000
Total Unsecured debt.................... -26,346
Net Assets.............................. -22,546
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

copier_guy

Put everything in that you no is right, mortgage etc and we can go from there.

your not buying any diamond necklaces from Tiffany's are you?

willow41

Tiffanys? I don't understand???

copier_guy

Nice one willow.

If you had no other debt just the mortgage and secured loans could you afford to live?

Are you bothered about staying in your house?

Sorry willow im only joking, you said you didnt budget for Christmas, Tiffanys is a very expensive jewellers in New York i think.

willow41

ok....Yes I don't want to lose it.

willow41

We have always worked really hard. We chose to extend our house and I fell pregnant. The build loan was already sorted before hand and when the baby arrived she was born with a tumor in her neck which left me in a nightmare situation about going back to work and leaving her. She has just turned two and is fine. The credit crunch hit the loans went up the house lost 55,000 in value and we couldn't consolidate and so on....
We have robbed peter to pay Paul for mths as the income went down after maternity leave and making stupid spending mistakes just to get by etc.... I feel gutted about the prospect of losing the house????

copier_guy

Hopefully one of the more experienced posters can advise about the house.

I dont want to give you the wrong idea.

We left our house in Jan but we hated our house, it was a money pit and was a considerable contributor to our mess!!!!

willow41

We have only stopped paying the full amount to creditors since the end of May.

willow41

You were really brave it must have taken a lot of courage...Do you feel free now?

copier_guy

Have you been getting any calls yet or letters?

You can send letters out to your creditors and tell them to communicate in writing only. Also BT will change your number for free is you tell them your getting abusive calls. Same for any mobiles