Help please - what's the best route???

RAS

if you have mortgage arrrears those are your priority.

Have you spoken fto a debt charity yet?

anyhelpgratefullyreceived

Hi all,

The SOA was not really much help so I have tried to detail the current position we are in and why some things are higher than they sholud be. My husband also has to entertain at work. Whilst some can be reclaimed some cannot and we are also owed a significant amount of expenses.

Here's what I have come up with:
INCOME
Guaranteed salary£3,209.00
Self employment£1,800.00average but varies
Expenses varies (non received for 5 months)
Bonus varies (non received for 5 months

EXPENDITURE Month Payment plan agreed Arrears Should save
Mortgage/Rent: £1,456.00 £5,262.00
Buildings & Contents Insurance :£32.00
Bank Account Fee: Overdraft Cost: £45.00
Council Tax: £108.00
Water Rates/Meter: £31.00
Gas £120.00 £400.00
Electricity £46.00 £150.00
Household Maintenance: £50.00 (we are not sorting leaks etc)
Garden Maintenance £50.00 (same)
TV Licence £12.00
Mobile Phone £100.00 £1,000.00
Mortgage Term £22.62
Pet £21.00
Food and Household Shopping £250.00
Eating Out £150.00
Coffees/Sandwiches/Snacks £50.00
Drinks for Home £28.00
Drinking Out £50.00
Eating Out with work £200.00 (taking out clients)
Car Maintenance £60.00
Car Insurance £48.00
Car Tax £24.00
Parking £40.00
Petrol/Diesel £300.00
Car Loan Repayments £256.00 256
Personal Loan Repayments £431.00
HP Repayments £86.00
Credit Card Repayments £480.00
Natwest Loan £340.87 £1,363.48
Family loan £405.00 £700
Next £65.00
Pet Food £20.00
Satellite/Broadband & phone £100.00 (phone & broadband also required for work, no other channels on sat and best deal)
Haircuts £35.00
New Clothes £25.00
Christmas £50.00
Summer Holiday £100.00
Tax & NI Provisions (self-employed only) £36.00
Gifts £30.00
Parking Fines £1,500.00
Overdraft £2,500.00
Overdraft £3,600.00
Student loan £1,215.00
Legal bill £1,472.00
£18,462.48 £395.00
Outgoings agreed £5,358.49
Income (min)£4,209.00
Things we are not saving for but should £400.00
Arrears still to be paid (full amount)£18,462.48

I have no idea what to do next - Yes, we have a meeting with CCCS in a few weeks and I have spoken to a few creditors too. In many ways we could push up our income but every time we think we will be ok something else happens and it spirals from there.

I am also trying to figure out a way forward with lots of parking tickets received by my husband. These figures have now grown and grown and we are being chased by debt collectors.

Thanks

shadydaz

Welcome back.

You really need to start pressuring to get the 5 months worth of expenses reclaimed. That is way too long to wait. Have the claim forms been submitted with the receipts already? As RAS has said the mortgage arrears are quite improtnat, the payplan to clear these is set up? sorry getting confused.
Really the parking fines need sorted too before people startt knocking on the door. Could you arrange to contribute a token fiver a month so at least you are paying something while you get the DMP sorted out.


Eating Out £150.00
Coffees/Sandwiches/Snacks £50.00
Drinks for Home £28.00
Satellite/Broadband & phone £100.00 (phone & broadband also required for work, no other channels on sat and best deal) SURELY CAN FIND CHEAPER> I HAVE FULL SKY COMBI FOR £80 pcm
Haircuts £35.00
New Clothes £25.00
Christmas £50.00
Summer Holiday £100.00
Things we are not saving for but should £400.00

Can you not revisit these items again and make sure they are abosolutely needed? This may sound harsh (not intended) but what if the point in spending £100 a month trying to maintain a house that you could lose because you are struggling to make ends meet?

fabforty

anyhelpgratefullyreceived wrote: »

Hi all,


Thanks

The SOA was not really much help so I have tried to detail the current position we are in and why some things are higher than they sholud be. My husband also has to entertain at work. Whilst some can be reclaimed some cannot and we are also owed a significant amount of expenses.

Here's what I have come up with:
INCOME
Guaranteed salary£3,209.00
Self employment£1,800.00average but varies
Expenses varies (non received for 5 months)
Bonus varies (non received for 5 months

EXPENDITURE Month Payment plan agreed Arrears Should save
Mortgage/Rent: £1,456.00 £5,262.00
Buildings & Contents Insurance :£32.00
Bank Account Fee: Overdraft Cost: £45.00
Council Tax: £108.00
Water Rates/Meter: £31.00
Gas £120.00 £400.00
Electricity £46.00 £150.00
Household Maintenance: £50.00 (we are not sorting leaks etc)-what does this cover, and is it really necessary - £600 per year?
Garden Maintenance £50.00 (same) - as above
TV Licence £12.00
Mobile Phone £100.00 £1,000.00
Mortgage Term £22.62
Pet £21.00
Food and Household Shopping £250.00
Eating Out £150.00 - this should go £0
Coffees/Sandwiches/Snacks £50.00 - this should be £0
Drinks for Home £28.00 - get rid of this £0
Drinking Out £50.00 - get rid of this £0
Eating Out with work £200.00 (taking out clients)
Car Maintenance £60.00 - is this correct - £720 a year to maintain your car?
Car Insurance £48.00
Car Tax £24.00
Parking £40.00
Petrol/Diesel £300.00
Car Loan Repayments £256.00 256
Personal Loan Repayments £431.00
HP Repayments £86.00
Credit Card Repayments £480.00
Natwest Loan £340.87 £1,363.48
Family loan £405.00 £700
Next £65.00
Pet Food £20.00
Satellite/Broadband & phone £100.00 (phone & broadband also required for work, no other channels on sat and best deal)
Haircuts £35.00 this can be reduced.
New Clothes £25.00
Christmas £50.00 - reduce or remove this. You don't need to spend £600 on Christmas for 2 people.
Summer Holiday £100.00 - forget having a holiday for now
Tax & NI Provisions (self-employed only) £36.00
Gifts £30.00 - remove this. Do you need to spend £30 a month on presents?
Parking Fines £1,500.00 Is this the total owed or a monthly figure? Is there no way of avoiding such extortionate parking fines?
Overdraft £2,500.00
Overdraft £3,600.00
Student loan £1,215.00
Legal bill £1,472.00
£18,462.48 £395.00
Outgoings agreed £5,358.49
Income (min)£4,209.00
Things we are not saving for but should £400.00
Arrears still to be paid (full amount)£18,462.48

I have no idea what to do next - Yes, we have a meeting with CCCS in a few weeks and I have spoken to a few creditors too. In many ways we could push up our income but every time we think we will be ok something else happens and it spirals from there.

I am also trying to figure out a way forward with lots of parking tickets received by my husband. These figures have now grown and grown and we are being chased by debt collectors.

Thanks[/QUOTE]

I have made a few suggestions above, which by my calculations should save you over £500 a month. There are a lot of expensive but non-essential expenditure items on here, which with your joint incomes would normally be ok, ifyou were not trying to clear debts. Under a debt management plan, many of these would not be allowed - e.g. money for eating out, gardening etc, so you really need to go through your SOA again and think seriously about what is essential and what isn't.

Hoope this helps.

anyhelpgratefullyreceived

Thanks everyone. It has really helped. Lots of homework to do and changes to make.
Thanks!!!!

dancingfairy

Hi. You have a good income but you are spending beyond your means. You have put 38,000 extra :eek: on your mortgage and now got into another 78,000 :eek:of unsecured debt. You need to take action - NOW. Why are you even considering spending so much ie 50 on house maintenance, 50 a month on garden maintenance, 28 a month home drink, 50 a month drinks out etc. If you don't sort things out you won't have a home. You have said you have even got mortgage arrears which are more important than all of your unsecured debts.
If I was in arrears on my mortgage and had such secured debt I would do everything I could to make up the payments. You need to wake up before it's too late.
df
You've got a good income and you can turn this around - and then the money you earn will be all yours and not owing to so many companies.