Please help with my SOA

rising_from_the_ashes

Sorry, cross post

pinkreadingcat

kepar wrote: »

You only earn £100 a month, with all those benefits is it worth it?

You claim the bus will cost you £200, but you spend £300 running the car.

the benefits include child benefit and housing benefit. Most people on very low incomes with 4 kids will receive this kind of benefit! And as you can see *it doesn't make me rich*

I only earn £100 a month, I'm hoping I will earn more - maybe up to £400 ish a month but as I'm self employed it might not happen. If I do, I will then lose about £200 of the benefits so only be £100 better off but that's how it goes.

I work at weekends and evenings so can't use the bus unless I want to take taxi's which will bump the cost of no car to way more than with a car.

xx

rising_from_the_ashes

Are the mortgage payments / value of the house your 1/2 or in total?

somethingcorporate

What do you do self-employed? why not pop over to the small business forum to see if there is anything that you can learn to help expand your self-employed income?

Edit: benefits may not make you rich but you bring in more than many working couples, which I find quite shocking really.

pinkreadingcat

The mortgage payments and value of the house is all total. Should I halve that?

I'm a face painter, just been really quiet over the summer and I've actually lost money on pitches where the festivals/events have been dead. People maybe aren't spending as much money. I'm trying to market myself for kids parties more at the moment :-/ I'm looking for a part time job too, just so I have a definite income rather than so up and down as I'm the only one earning...

kepar

pinkreadingcat wrote: »

the benefits include child benefit and housing benefit. Most people on very low incomes with 4 kids will receive this kind of benefit! And as you can see *it doesn't make me rich*

I only earn £100 a month, I'm hoping I will earn more - maybe up to £400 ish a month but as I'm self employed it might not happen. If I do, I will then lose about £200 of the benefits so only be £100 better off but that's how it goes.

I work at weekends and evenings so can't use the bus unless I want to take taxi's which will bump the cost of no car to way more than with a car.

xx

Your SOA is about £500 a month more than your income. How are you going to survive after br with no credit.

pinkreadingcat

If I don't have to pay the mortgage I'll be OK - mortgage is £590.

pinkreadingcat

Maybe if I could just get the bank to sign over the house to my ex-husband so I don't have to pay any mortgage it would be OK, but they won't?!

somethingcorporate

pinkreadingcat wrote: »

Maybe if I could just get the bank to sign over the house to my ex-husband so I don't have to pay any mortgage it would be OK, but they won't?!

If you look at the mortgage forum you would see that is it not that straight forward, the bank massively increases their risk by releasing one of the parties. If your husband does not have the equity / income / credit score to take on the mortgage (which is effectively a re-mortgage) then both your names will have to remain on the existing mortgage.

Have you spent much time investigating why it won't sell? everything will sell at the correct price. Change EAs / get second / third / fourth opinions and really consider dropping the price to get rid of the house.

Your job sounds seasonal but could you branch out into other areas to expand income streams? have you considered teaching face painting etc?

dojoman

Have you taken advice about BR from anyone?