drastic action required !

PaisleyPPL

hi everyone ,

let me start by saying i need all the help i can get .Im currently a full time student and work part time ,my partner is working full time .As of the end of the month he is going to be out of work sick for 6mths(due to surgeries being carried out on both feet ,only being done one at a time so will be unable to walk and works as security guard) ,and will only be recieving 280 per month ! have exausted every route possible ,as we are both working and have any mortgage and are in no debt we are entitled to NO benefits ,am absolutely disgusted at this !however it doesnt change the fact that we will have to muddle thro .have done an SOA and put down what his income will be from next month onwards .I am sooo upset by this situation, i am having a melt down just writing this .Just to note have spoken to mortgage co. have refused to give us consent to let ,or to go on interest only (despite being customers for 5yrs and never missing a payment) PLs pls pls help me :

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 885
Partners monthly income after tax....... 280
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1165
Monthly Expense Details
Mortgage................................ 427
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 37
Council tax............................. 100
Electricity............................. 25
Gas..................................... 35
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 10
Mobile phone............................ 75
TV Licence.............................. 0
Satellite/Cable TV...................... 37
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 150
Childcare/nursery....................... 0
Other child related expenses............ 200
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 11
Contents insurance...................... 15
Life assurance ......................... 17.5
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1429.5

Assets
Cash.................................... 400
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 1000
Total Assets............................ 1400

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 60000....(427)......6.25
Total secured & HP debts...... 60000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1,165
Expenses (including HP & secured debts). 1,429.5
Available for debt repayments........... -264.5
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -264.5
Personal Balance Sheet Summary
Total assets (things you own)........... 1,400
Total HP & Secured debt................. -60,000
Total Unsecured debt.................... -0
Net Assets.............................. -58,600
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

savingmummy

PaisleyPPL wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 885
Partners monthly income after tax....... 280
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1165
Monthly Expense Details
Mortgage................................ 427
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 37
Council tax............................. 100 is this over 12 months? if over 10 get it over 12
Electricity............................. 25
Gas..................................... 35 look for cheaper
Oil..................................... 0
Water rates............................. 0 ????
Telephone (land line)................... 10
Mobile phone............................ 75:eek: cancel if you can. go payg
TV Licence.............................. 0
Satellite/Cable TV...................... 37 go freeview OR cut down package
Internet Services....................... 0
Groceries etc. ......................... 200 this needs to be halved!! i spend this on 4
Clothing................................ 40 STOP!! use what you have
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 150
Childcare/nursery....................... 0
Other child related expenses............ 200 ????
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 11
Contents insurance...................... 15
Life assurance ......................... 17.5
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1429.5

Assets
Cash.................................... 400
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 1000
Total Assets............................ 1400

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 60000....(427)......6.25
Total secured & HP debts...... 60000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1,165
Expenses (including HP & secured debts). 1,429.5
Available for debt repayments........... -264.5
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -264.5
Personal Balance Sheet Summary
Total assets (things you own)........... 1,400
Total HP & Secured debt................. -60,000
Total Unsecured debt.................... -0
Net Assets.............................. -58,600
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Hi welcome.
Hope your oh op goes well and he makes a speedy recovery.

You NEED to get rid of sky you can`t afford to pay this each month and it really is not essential!
Groceries - drop brands, meal plan, stick to a list of what you NEED.
Clothing - you dont need these every month you must have loads Use what you have for now.


Mobiles are VERY high. When does the contract run out? call and explain they may beable to cancel or reduce cost of this for now.

PaisleyPPL

mobiles have just been upgraded in last couple of months ,unfortunately this surgery is emergency and was not planned for otherwise would never have kept them ,as these were more than mangable under or previous circumstances

also as i live in scotland dnt pay water rates

POSITIVE_AND_FOCUSED

Could you sell anything on ebay? Or de clutter your home ready for a car boot sale or do your own garage sale or advertise in your local paper to sell. Not a long term solution but could help with getting more money into the "pot". Good luck.

NGlady

Not sure, but sometimes cant networks freeze ur plan, so basically you dont have a service for x months, but your contract resumes after :S im sure i read it - perhaps call your provider?

PaisleyPPL

Nglady :will def look into that ,bill is so high due to partner always calling home (dublin) as i said before this wasnt a problem but now will have to stop

PaisleyPPL

child related expenses is child payment to partners ex for his son ,is a private agreement as she is in dublin

gilligansyle

Hi

you really need to get on to the mobile company and explain the situation, you just can't afford them, same goes for sky.

What are the £200 child relates expenses for? Presumably child mtce or something for child who doesn't live with you, as you haven't listed a child.

Have a look around, see what you can do without, and put it on Ebay. Look at your grocery spending, cut down the brands, cook from scratch etc.

£150 travel - is this for work? Seems high, but I don't know transport costs in Scotland.

You don't need new clothes every month or £50 for entertainment every month.

PaisleyPPL

travel related expenses are high because i work at NHS24 which is out of hours ,night bus is my only option,also have to get into uni 5dys a week ,so have a zone card unfortunately it costs that

charlie2517

Hi there,

How many bedrooms do you have in your place? If you have a spare room you could rent it out for 6 months.

C

RAS

Hi

If his child was in the UK, he would be able to reduce his normal salary is but the general CSA rule is 15% of salary.

So he needs to tell his ex that maintenance will be reduced for the next 6 months.

Mobiles, clothes, sky and food need to be cut back as well.

Do go and talk to your university about any extra hardship grants of loans you can get - the Student Welfare officer and the Union.

Can you take a lodger - tax free upto about £370 per month.