Debt Help

katsu

granite785 wrote: »

Telephone includes broadband for home and business use
Can you find some way of showing your business costs separately (i.e. the ones you will offf-set against income tax)? Maybe even a list of them and rough amounts?
Groceries – we have reduced this as much as possible but with kids and animals it cant get much lower. We are living off basics items.
Look at the old style boards for how they reduce food bills. What are your animals? It is posible to spend less on here and looking at your high monthly shortfall you need to revisit this again.
Presents – this was just a ball park figure but probably much lower so maybe only 40, but maybe this offsets against the entertainment for kids activities.
Try and work out what you are really spending where,
We have spent the last year reducing our outgoings to the minimum we can possibly afford and get away with.
We have cancelled all unnecessary expenses, pet insurance, charity donations, kids clubs and hardly go out.
The last time my wife and I went out was in January for a curry!
Sorry, you can't afford your outgoings on the basis of this SOA. You need to make more cuts or try something like entering a DMP to reduce your debt payments, but obviously that will affect your credit rating which may affect your wife's business.
We don’t think we can do much more on the outgoings just looking for some advice on the long term outlook

Sorry Granite, I'm not trying to be harsh but looking at your SOA then you still need to make changes to break even. I think you need advice from a free debt charity (you may need business debtline, I'm not sure, but you can try CCCS and Payplan or CAB first).