Debt Problems

joeblack066

Post your full SOA, with APR's, monthly amounts etc, all incomings and outgoings. You will get some excellent advice on here. Oh, and welcome to DFW!!

fairladyzxgirl

Monthly Incomings:

My salary - £1000
Partners salary - £0
Benefits - £0

Total - £1,000

Monthly Outgoings:

Mortgage/Rent - £323
Bank loans £420
Council Tax - £79
Gas - £30
Electric - £30
TV License - £10
broadband - £18.00
Phone - £20.00
Food - £100
Car Insurance - £85
Petrol - £80
Life Insurance £20
House Insurance- £20

Total: £1235 including loans below!

HSBC Loan – Balance £13,999 APR UNSURE £250 per month

Citifinancial - £7000 (limit £1,000) APR 40.3% £160 permonth

my out goings are 200 pund a month more than my incomings!!

Im petrified ive applied for a secured loan they are getting back to me in 48 hours!!

danielleindebt

hi and welcome

can your partner not get a job or claim benefits?

nonsensefactory

Mortgage/Rent - £323
Bank loans £420
Council Tax - £79
Gas - £30
Electric - £30
TV License - £10
broadband - £18.00
Phone - £20.00
Food - £100
Car Insurance - £85 How much ?!?!? you must either have more points than a belgium eurovision song contest singer or you drive a ferrari - shop around.
Petrol - £80
Life Insurance £20
House Insurance- £20

Total: £1235 including loans below!

HSBC Loan – Balance £13,999 APR UNSURE £250 per month

Citifinancial - £7000 (limit £1,000) APR 40.3% £160 permonth

my out goings are 200 pund a month more than my incomings!!

Im petrified ive applied for a secured loan they are getting back to me in 48 hours!!

As Danielle asks, why's your partner not working or getting benefits ? Is this going to change at some point ?

hypno06

Hi, if you already have CCJs and arrears, why are you worried that a DMP will trash your credit rating even more? If you have a mortgage, you don't need another one, so surely to get yourself in a financially secure situation, that you can afford, that will allow you to get used to spending within your budgets, allow you to keep your house, and will also allow you to keep your sanity and to sleep is fairly attractive!!

If you don't want to go down this route, then the other alternative as far as I can see, is to increase your income. Get a part time job in a bar, or on weekends etc. This would increase your income but you would have to sustain it in order to keep on top of the payments.

Another loan really really really is not the answer for you IMHO - you could be just jumping out of the frying pan and into the fire, and are putting your house at risk even more.

Give CCCS a call this morning - have a chat and see what they come up with.

opalfruits_2

Fair Lady, you can't afford a secured loan. Getting one is going to make you lose the house quicker as when you can't make the secured loan payment they'll go for repossession.

The loans and other credit you have at the moment is not the priority - if you default on these the worst you are looking at is likely to be another CCJ, which is really just changing the amount you are paying every month to a more affordable level.

Take care of your priority bills first - your mortgage, council tax, utilities and your essential living costs.

If you bank with somewhere you have a debt then change your account so that they can't continue taking it out anyway. Pay your priorities and then book an appointment with a debt counsellor. Everything else can wait until you speak to the CCCS and get some professional advice

bandraoi

Normally I would say that another loan is not the answer but an APR of 40.3%?