Help needed

jellybean39

RAS wrote: »

What does you daughter contribute to the household? She will be getting a student maintenance loan?

yes she just applied cause she nearly 20 and she works silly hours to. she dosent pay rent but she pays for everthing herself. just wish we had never bought this house we should have stayed where we were.
just realised 578 of one of those loans is paid by business wondered why shortfall was so high never worked it out that bad before!!!!

RAS

you need to separate your busines and personal accounts completely. then re work the SOA.

jellybean39

i look at that form on how much we earn we should be so well off i hate cc. why on earth do we let urselves get in to this mess.

Word of advice anyone looking at this don not ever ever get a credit card.

No matter how good they look.

jellybean39

ok will do thanks x

daydreamer1

*reappears...*

ok, so firstly, I would like to state that I am not being judgemental at all.....but what did you spend it all on?

The reason I ask is because, for this to work, you need to know where the root of the problem is, what is it that has made things get so bad? Then you need to address the issue and change it. Weather it be clothes, food, takeaways, holidays or home improvements.

You are in a better position that most, you have not defaulted, you probably still have a reasonably good credit rating and you have 2 good incomes. The thing is, to step over the line where you miss a payment or two takes no thought at all, but once you have done that, it will be years before you can get back to where you were, 6 or more usually. This is why I say that you NEED to cut back somewhere now to avoid risking having everything taken from you in the future.

Right now you have a choice, but unless you can find a way to cut down the outgoings, it may get taken away from you. Also, not to scare you, but what would happen if one of you were to loose your jobs? Or the arthritis got so bad you couldn't work? Not to put too fine a point on it, but you would be screwed.

I don't mean to scare you, but nobody knows what will happen tomorrow and I have read so many thread that start with "me/my partner got made redundant/ too sick to work....." that I really recommend thinking about the long term here, rather than the immediate when it comes at looking to give up things as clearly you cannot afford what you do have.

ok, next idea, have you thought about asking your bank if you can go interest only on your mortgage for a year to free up money to shift the debts?

Also, once you do start clearing the CC's chop them up, all except one. Leave in the kitchen draw in case of emergency so you are not tempted to use it and destroy and cancel all of the others. One is more than enough.

jellybean39

daydreamer1 wrote: »

*reappears...*

ok, so firstly, I would like to state that I am not being judgemental at all.....but what did you spend it all on?

The reason I ask is because, for this to work, you need to know where the root of the problem is, what is it that has made things get so bad? Then you need to address the issue and change it. Weather it be clothes, food, takeaways, holidays or home improvements.

You are in a better position that most, you have not defaulted, you probably still have a reasonably good credit rating and you have 2 good incomes. The thing is, to step over the line where you miss a payment or two takes no thought at all, but once you have done that, it will be years before you can get back to where you were, 6 or more usually. This is why I say that you NEED to cut back somewhere now to avoid risking having everything taken from you in the future.

Right now you have a choice, but unless you can find a way to cut down the outgoings, it may get taken away from you. Also, not to scare you, but what would happen if one of you were to loose your jobs? Or the arthritis got so bad you couldn't work? Not to put too fine a point on it, but you would be screwed.

I don't mean to scare you, but nobody knows what will happen tomorrow and I have read so many thread that start with "me/my partner got made redundant/ too sick to work....." that I really recommend thinking about the long term here, rather than the immediate when it comes at looking to give up things as clearly you cannot afford what you do have.

ok, next idea, have you thought about asking your bank if you can go interest only on your mortgage for a year to free up money to shift the debts?

Also, once you do start clearing the CC's chop them up, all except one. Leave in the kitchen draw in case of emergency so you are not tempted to use it and destroy and cancel all of the others. One is more than enough.

i know u r so right problem being we had a few problems with our business we resorted in a 3k a month drop in income and being stupid we never saved whilewe were earning. have cut all credit cards up except for one low interest one for dyer emergencys but need to sort this so we have stopped eating out takeaways etc so we can get ahead of this all but income lower than outgoings have done everything we can to change things as lots we are tied into with contracts so cant change credit rating good but no one will lend as comitments so high.

jellybean39

jellybean39 wrote: »

i know u r so right problem being we had a few problems with our business we resorted in a 3k a month drop in income and being stupid we never saved whilewe were earning. have cut all credit cards up except for one low interest one for dyer emergencys but need to sort this so we have stopped eating out takeaways etc so we can get ahead of this all but income lower than outgoings have done everything we can to change things as lots we are tied into with contracts so cant change credit rating good but no one will lend as comitments so high.

Also tried the interest only again they said they would blacklist us and contact all our credit companies and then we could be put into invlountarily bankrupcy gits. no neec for that as we havent missed anything.

daydreamer1

Apologies for the last post, I hadn't read the one above about the loan. Can see that you have now changed this. You might want to change the totals at the bottom for monthly debt repayment and the section below which states how much you pay and how much is left over at the end of each month.

Should now read a slightly better -£99. Easily workable and a lot less drastic action required!

ps. Have you looked at mystery shopping? Could be a quick something to do on your lunch break that would add to the pot, also have a look at the grabbit board at the Sky offers to existing customers thread, it may help temporarily reduce that bill, then hop over the coupon thread and bag yourself a load of those as there are some good ones there atm, inc. ones for free curry sauce/ free rice/ free lenor/ free deoderant/ silly cheap washing up liquid, as well as the good money off ones. Find out what time your local supermarket reduces things and make sure you are there, ours does this at 4.30pm, and always guarantees fruit and veg for no more than 10p a pop, buy more than you will eat (not too much obv.), blanche and freeze. Then hit the reduced meat and do the same, don't forget the 10p loaves of bread.

Not an ideal long term solution, but every penny you do manage to save will bring you a bit closer to having one less DD go out every month.

daydreamer1

jellybean39 wrote: »

Also tried the interest only again they said they would blacklist us and contact all our credit companies and then we could be put into invlountarily bankrupcy gits. no neec for that as we havent missed anything.

barstewards!

Well done though, on chopping up the CCs and for facing this before things hit the point of no return.

jellybean39

ive just tried to change that and messed up me form how do u get back on to the origianl bit and change it so it adds it up for u>? as u can see real busy at work today that really helps !!!!
Think i can get the 99 a month to help with downfall as i get alot in tips but look at as a bonus and not as part of wages so that has always been takeaways etc so we can break even at least. just need to get some small ones sorted then the big ones will follow.