soa -- please help as cant carry on

HeadAboveWater

No more blubbering please!! *hug*

I've no idea about the benefits so can't help there, sorry. Looking at your SOA it seems you're monthly outgoings aren't scarily high. It's the debt that your struggling with. What's the APR on the debts?

7171blondie

thanks for all the replys
my electric was £71 per month direct debit have cut it down to £55 today also gas is £45 per month direct debit cant budge on that as have checked comparison websites
i work two part time council jobs, one is 5hrs a week the other is 12 hours a week...were on a pay freeze & there is no overtime available at the moment (they are making staff cutbacks)
ive applied for two new jobs today so fingers crossed as i have been looking for a while...

7171blondie

the apr on the loan i think is 7.8%
just done a balance transfer to virgin at 0% for the £3600
barclaycard is 6.9 % for life of balance

Mortgage_Reduction_Novice

7171blondie wrote: »

thanks for all the replys
my electric was £71 per month direct debit have cut it down to £55 today also gas is £45 per month direct debit cant budge on that as have checked comparison websites
i work two part time council jobs, one is 5hrs a week the other is 12 hours a week...were on a pay freeze & there is no overtime available at the moment (they are making staff cutbacks)
ive applied for two new jobs today so fingers crossed as i have been looking for a while...

It sounds like you made some really positive steps today with the energy bills and job applications, well done. There's a world of advice coming your way. Just pace yourself but keep up the progress with small steps, you'll get there.

7171blondie

sorry forgot to mention my kids are 3 yrs & 17years, my parents look after my 3 yr old so i can work , my 17 yr old is in further education

£88 council tax is paid over 12 months

7171blondie

have contacted my bank a few weeks ago regarding smaller loan payments , they said it would be on a higher interest rate & my payments would increase !! so no help there

7171blondie

have also been on to water company about water meter as bill in between £300-£400, they stated savings unlikely

need to reduce my £361 bank loan payment somehow , havent a clue how to ??

PippaGirl_2

Blondie, is the mortgage for the property you are living in? if so, what is the value of the house? and is the property and mortgage in your name only or you and you ex together?

Your benefits seem low, are you eligible for more tax credits? Council tax benefit surely?

I think you need as a first port of call go to see the Citizens Advice bureau who can organise with you a debt management plan which will reduce the payments you make for your debt to affordable amounts, given your income it is likely to be £1 each per month. That will give you the breathing space needed to think about whether you want to do something different in the long term.

Don't panic, there is a way out of this.

McKneff

7171blondie wrote: »

have also been on to water company about water meter as bill in between £300-£400, they stated savings unlikely

need to reduce my £361 bank loan payment somehow , havent a clue how to ??

I really would beg to differ on the water meter savings.
even without really trying.

Once you get one you can economise with it.

Im in a 3 bed semi, both of us in all day and my water meter bill has never been more than £20 a month.

You can actually have one for 12 month and if no savings are made you can have it taken out again.

I would also repeat what I said about council tax, you shoudl apply for 25% single person reduction,

7171blondie

mortgage is in joint names
i am waiting to hear from tax credits, also waiting to hear about my overpayment aswell
my mum had a water meter (i live by my mum in the same style house) & she didnt save