Feel like I'm drowning

DarkConvict

Your income is simply not high enough to support 2 adults and 2 children, with the debt, i believe this is why CCCS could not help since you dont have £1000 spare you are £800 on a shortfall.

You can certainly cut out more luxuries but by the sounds of it your stress level is already to high, and further cuts may not be something you are willing to make. I would seriously consider bankruptcy on health grounds given you have 2 kids to support as well. If you are both jointly liable for debts you and yoru OH will both have to go BR, if one is liable for all debts then just that person needs to go BR.

Tinka21

I take it if we go bankrupt then we will lose the house regardless?

debtaghh

Hi,

Sorry to hear about your situation. Not sure if I am right but if you do want to keep house then just focus on paying mortgage and bills relating to car as can see for work purposes you need it and general household bills. From looking at your soa you can afford your outgoings minus debt which includes hp for caravan and minus sky. It will be tight. Have you looked at selling anything on ebay? do you do surveys? Have you contacted cc company to let them know your situation?

If you declare bankrupcy I think they will take house and car.

DarkConvict

You can't afford an IVA to protect the house, so if you go BR the house is an asset used to pay creditors. It would be sold in due course but with kids in the family is not something done quickly.

Cars under £1000 will not be taken, i believe tools of the trade are not taken either, so the taxi might be sure i am not 100% sure as it is secured so not technically your asset.

homeaway

How do you feel about getting rid of sky, you can change to pay as you go for mobiles and only use in emergency. You might be able to bring your shopping bill down, have a look on the old style board to get some ideas. How about finding a job that you can do from home with the kids? Child minding might be something to look into or an admin job that you could do when the kids are asleep ? Freecyle might be a way to get clothes for the kids. Dont give up.

Nargleblast

Hello Tink and welcome on board. Sorry you are in such a lousy position but well done you for having the guts to come on here and ask for help. It sounds from your figures that you are truly insolvent, not having anything left after monthly bills to pay off your debts. Have a chat with one of the debt counselling charities mentioned, they may suggest just sending token payments to your creditors for a while, to give you a chance to review your expenditure and income and try to cut one and increase the other. If this is not sufficient to solve the problem, then have a look at the bankruptcy board and talk to some of the people on there. Lots of them have either been bankrupt or are going through the process, and can give you advice and support based on their experience. If that is what you have to do then so be it, you have to do what is necessary to get you all out of this mess. It will be tough but will only last a finite length of time. One day you will be debtfree and will look back on this as a tough learning experience. Don't despair, get the best advice you can and do what needs to be done. You will have a better life with your family in the end, honest!

Nargleblast

And don't fret about your house, Tink - a house is just a box to live in. You can make a home anywhere you have to.

brokeinyorkshire

Tinka21 wrote: »

I'm sorry for posting on here but I'm having such a bad day
We can't afford to pay our mortgage and are about £2k in arrears so i'm expecting them to repossess soon and the council have said they won't be able to help rehouse us as we will have made ourselves homeless by not paying the mortgage. There is no way we will be able to rent private as we will never pass a credit check.
.

I had my house repossesed and i was rehoused by the council as homeless.

At the time my youngest D was four years old.

How can they say the above when they don't know the full details. You could lose your home and be in debt for many reasons.

Sorry to hear things are so bad.

Do you get tax credits?

Sorry to hear you feel family would be unsympathetic. It could happen to anyone and i personally never judge for that reason.

Keep your chin up.

BLT_2

The situation you are in relation to your OHs employment is nothing short of ridiculous. He has a take home pay of 600 pounds per month and is paying 194 pounds for car insurance. he barely makes enough to even pay tax. I have no idea what his particular skills are, but to be honest he could make more working in McDonalds 40 hours a week, or even as security guard.

taxi73

Hi Tink..you have a few options here so all is not lost.

Firstly I would be in touch with CAB to see what advice they can give you..this may ease your mind a little.

Secondly ..you need to decide whether DH needs to get another job as he doesn't seem to be bringing much in.

I think talking to the free advice places is absolutely critical.

In your SOA ..you have sky tv...yet nothing for DHS fuel and rent....if your SOA contains all the money coming in..it needs to contain all the money going out.