Can't see a way out - HELP

Tixy

Hi

betty155 wrote: »

Number of adults in household........... 2 who is the other person? your partner? do they work? have an income at all?
Numb er of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1056
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 240
Total monthly income.................... 1296
Monthly Expense Details
Mortgage................................ 480
Secured/HP loan repayments.............. 195.93000000000006
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 116 if this is 10months maybe ask if you can pay over 12 months (okay so you still pay the same but it can help with budgeting)
Electricity............................. 40 have you checked you are with the cheapest supplier and cheapest tariff for this and gas?
Gas..................................... 40
Oil..................................... 0
Water rates............................. 0.01 is this in with ctax?
Telephone (land line)................... 12.97
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 47.03 can you cancel this or switch to the basic package
Internet Services....................... 0
Groceries etc. ......................... 100 this is quite low for 2 of you, can you manage on this?
Clothing................................ 10
Petrol/diesel........................... 40
Road tax................................ 12.9
Car Insurance........................... 35.67 shop around at renewal to see if you can get for less (follow the guide on here for tips)
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 10.1
Contents insurance...................... 10.1 shop around for B&C at renewal (not bad but maybe able to save a little
Life assurance ......................... 44.6 this looks quite high, shop around to see whether you can beat this.
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40 try to minimise this for now
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1282.31

Assets
Cash.................................... 0
House value (Gross)..................... 100000
Shares and bonds........................ 0
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 106000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 67813....(480)......5.84
Hire Purchase (HP) debt ...... 173......(12.63)....22.4<
CAR HP.........................7290.....(183.3)....15.3
Total secured & HP debts...... 75276.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
LLOYDS TSB.....................5201......105.......24.9
HALIFAX........................2180......50........27.9
Total unsecured debts..........7381......155.......-

Monthly Budget Summary
Total monthly income.................... 1,296
Expenses (including HP & secured debts). 1,282.31
Available for debt repayments........... 13.69
Monthly UNsecured debt repayments....... 155
Amount short for making debt repayments. -141.31
Personal Balance Sheet Summary
Total assets (things you own)........... 106,000
Total HP & Secured debt................. -75,276
Total Unsecured debt.................... -7,381
Net Assets.............................. 23,343

Whilst I have put in a few suggestions I think you need some advice from one of the debt charities principally because of the arrears on your mortgage. I think they will advise you to only pay a token payment to your 2 unsecured creditors and just try to focus on gradually getting up to date with priority debts.

consultant31

The first thing I'd do is cancel the satellite package - it's a luxury not a necessity!

betty155

Partner doesnt work or sign on (long story).

Yeah Ill try that with the C/Tax

Gas and Electricity is on payment Meter, Gas payment may be slightly cheaper as only using it for cooking

Water rates are in with C/Tax

If I cancel Sat/Tv/Broadband I need to pay a cancellation fee, which is money I dont have up front right now.

Groceries are ok - we can manage

Buildings and Contents was renewed 2 months ago through Post Office, chepeast at the time

Life assurance is for both of us, Partners is dearer due to him being a lot older than me. His £37.64 mine £6.20