My story and SOA

jaja_3

I keep encouraging everyone else to do it, so just spent a few hours sorting out my SOA.
First I wanted to tell you a bit of background that got us in this mess, so you may want to pull up a chair and pour a stiff drink first

Six years back we bought the house on the stregnth of the superb job the OH had with lots of prospects, Mortgage with RBS (mistake No.1). The payrises never materialised and the job was totally intollerable, the OH worked three years in total on 24/7 on call - seems there are no laws against this, we checked. Needless to say with three years of constant interrupted sleep without a break he ended up very poorly, the stress of no money - helped out by the good old RBS funding us more money each time we asked for help, extending our debts. Also consolidation loans inbetween to sort out the debts, oh yes, not forgetting a fee charging 'debt help' company that made things even worse. (Hindsight is a wonderful thing).
To cut a long story short, the prozac he ended up on helped him to think buying a brand new car on finance was a good thing and finally ended up having to ditch the job before it finished him off.
Oh almost forgot, at this time the RBS forced him into a business loan (small business on side) to pay off overdraft and other stuff, threatening him with jail if he didnt.

10 months unemployed resulted in big problems. Inc near repossession.

We now have our own business and OH works contracts. having had business problems too, recently copping for £400 bank charge, then the VAT man demanding all money in 7 days means we havent been paid for four weeks, so are finding life a bit tough just now. Although now I have done the SOA when/if we ever get back on our feet things should be managable, but just in case I have missed something and there is more we can do - I am going to confess all


SOA
Incoming; OH 1430.00
ME 242.66
Maint 40.00
C. Benefit 68.00

Total 1780.66

Outgoing;
Mort 675.68 (inc. arrears of 4k)
Secured loan 165.00
Council Tax 114.00
Gas 40.00)
Elec 40.00) arrears of 1200
Water 35.00
Phone 20.00
Fuel 40.00
MOT/Repair 20.00
TV License 11.00
Car Ins 34.28
House Ins 37.00
Life Ins 10.00
Pet Food 30.00
Ciggies 80.00


RBS Loan 67.00 (loan is 10k, payment sorted with CAB)
MBNA 9.00 (loan is 3k, payment sorted with CAB)
Scottish Power 1.00 (sorted with CAB, owe 500)
Barclaycard 2.35 (1k, payment sorted with CAB)

Total 1589.31

Now, how on earth I come to have on paper £191.35 left I dont know, as I never have anything spare. But then being self employed we dont get paid every week as I mentioned earlier so maybe thats why
We have now deregistered from VAT as obviously were not earning enough, the bank manager has agreed in principle to an O/D for business once he sees audited accounts.
Worst thing was we applied for remortgage to lower payments and have just been knocked back due to credit file entry by G E Capital, who I just won the fight with the ombudsman.

I think I have waffled long enough now - sure I have forgotten things though. Just thought it was about time I confessed all whilst busy encouraging others to do the same.
jaja

Mrs_Arkwright

You haven't accounted for food in your SOA - is that where the extra money is going?

jaja_3

Duh, just missed it off, it is included in the addition. "Thank you"

£160.00 per month on food:o (three people, one of which is 15yr)

jaja

Mrs_Arkwright

I know it's an obvious one, but cutting the fags out is an option. Very easy for me to say, I know, but needs must, eh?:)

fast_track

You don't seem to be receiving any child tax credit. as you are getting CB you should be entitled to this.

I was horrified that you said RBS threatened you with jail if you did not take out a loan, please go to the Office of Fair trading website and make a complaint. That is quite appalling.

160 may just cover your food, but it won't cover toiletries, washing up liquid, washing powder, toilet rolls etc etc, and a 15 year old will need some money for school trips at least. Your budget is cut too fine in effect which is why you don't have enough mony. More realistically you should be looking at about £90 pw for housekeeping - and even that will be tight.

Good luck

Holeypockets

I hope you find some good advice on here. Sorry, I am not in a position to advise myself. Good luck

jaja_3

I've tried to quit the weed:o the stress gets the better of me, only thing that keeps me half sane.

Fasttrack - LOL, Yes the child credit bods alledgedly overpaid me over a year ago, spent the last six months trying to claw some money back to no avail. Also owed over £500 from CSA who due to a computer error also owe arrears, just try getting it back though:mad:

I did a post a couple of weeks back about the RBS saga to see if there was anything I could do, seems not - as it was all done by telephone and not ONE visit to the bank there is no proof, just our word against theirs.

Thank you for advice on toiletries etc, that must be it - I just try to shop on less than £40 per week, dont always manage it though. My parents tend to stump up for the childs trip fees, but yes a 15 year old does not come cheap to keep:rolleyes:
My Mum just pointed out the extra often goes on vet fees, or other emergancies she says it only takes one, and like many of you our luck does tend to spiral to one disaster after another, LOL.

Thanks for replies

jaja

sparklymessygirl

Jaja,

I don't really have a lot to contribute but thought I would ask you about 2 things...first the pet food. I switched my two dogs to a cheaper pet food (still good quality) - how many pets and what kind are you feeding?

Secondly, I wonder whether hypnotherapy would help you stop smoking? My mum smoked for 45 years and was only able to stop with a one off hypnotherapy session (not cheap but it worked and has saved her a fortune long term).

I hope you get some help from the boards

Sparkly
x

jaja_3

Thanks Sparkly.

Ahem, I have five large dogs - yes I know, all rescue so its not a case of giving them up before anyone suggests that, they are part of my family. One of the first things we did was switch to a cheaper working dog food and we buy it wholesale, and also buy for friends at a small profit to help with funding them.

I have thought of hypnotherapy yes, not found a reliable one though, two of my friends have been to a local one and had no joy. I gave up for three days last year, I became the devil:mad: :eek: as did the OH who would have sold his soul to buy me some by day four.

I have had tons of help already by reading this board, joined Quidco this morning, and tried remortgaging through a 'whole of market' finance guy who I wouldnt have known about without the board. I also check in on the cheaper shopping bits and menu's too:D
Also, reading people who are far worse off than I helps me to stop feeling sorry for myself each day.

jaja