Outgoings more than income

singingsister

Silly question alert....please bear with me!

If, after our debts are discounted our outgoings are still more than our income.....what happens?

tigerfeet2006

You will have to look at how you can survive and where you can cut back to survive as you will have no credit to fall back on.

CCCS will probably say you can't go BR but we have had a few on the board who have had the same problem and have been granted BR. They have just had to acknowledge the problem and assure the judge that they are trying to bring everything under control.

When you are ready pop your SoA and someone will check it for you.

singingsister

I'm getting hubby to email me our income/outgoings excel sheet as I'm at work and he's home. Once I have it, I'll post it.

But BR is our only option. We owe about 28k in total - and don't have any surplus income for an IVA. :-(

Main problem is hubby being made redundant. He's worked out what he needs to earn with me on my salary and it's quite high. I mean it's achievable for him but it's proving impossible for him to get to interviews when he's playing house-husband, we don't have access to family for childcare and we obviously can't afford to send our daughter to nursery! I have no holiday left to take from work and obviously can't afford to take unpaid leave!

Presume that him job hunting is showing that we are trying to bring things under control

Think the phrase is "damned if you do and damned if you don't!"

tigerfeet2006

It's very difficult isnt it in this climate. I feel for you both, hopefully something will come up soon for him. I hope he is enjoying the time he is getting to spend with your DD though.

singingsister

Just been thinking.....as hubby's JSA is now ending as he's been on JSA for 6 months, I presume I'm better to hold off form filling until he's been to the jobcentre on monday and can find out what he's eligable for and more importantly what, if any benefits he might be entitled too.

Don't want to fill in all the income forms tonight to find they are wrong on Monday!

tigerfeet2006

I would definatly wait until you have the correct info, otherwise it is a waste of time.