so much dept can get out

suelongman

kimevans wrote: »

The "rent on computor £130 a week" is confusing some people, is this your cab office radio? £130 is a lot my hubby pays £100 in London!

Your fuel doesn't seem much, for a month? My husband does that in a week.

Are you saying you earn £1500 in 1 month of cabbing? Thats £346 per week.

You insurance quote is good, my husband pays just over £400 every 3 months:eek:

As you fuel is so low & your earnings are quite low, I'm wondering are you working full time? Is it possible to increase your hours?

yes this is my cab radio.your husbands insurance is high has he got a black cab mine is privet taxi.Iwork full time i think i might have got some off my caculations wrong:o £100.00 a week on fuel sounds about right

milkydrink

suelongman wrote: »

yes this is my cab radio.your husbands insurance is high has he got a black cab mine is privet taxi.Iwork full time i think i might have got some off my caculations wrong:o £100.00 a week on fuel sounds about right

No my husband has a mini-cab at the moment - he is private hire like you, but he is doing "the knowledge" to become a black cab driver.

I shuffled your figures around. If YOUR earnings are correct, you need to get another job, not self employed, but a job where you are employed, as you are making a big loss.

CAR PAYMENTS--£250 IS THIS HP/LOAN?
CAR EXPENCES--£100 DOES THIS INCLUDE ROAD TAX, REPAIRS, CLEANING, ECT?
CAR INSURANCE--£90.00
rent on computor £130 PW (works out at £520 per calendar month, allowing for working 48 weeks of the year)
Fuel £400 (you agreed in a later post, this was about right) PM

That's £1,360 PER MONTH & you say you earn £600 per month. Thats a loss of £760 PER MONTH.

Check those figures again will you. For the ones you have quoted weekly I have turned them into calender months by multiplying them by 48 then dividing them by 12, that allows you 4 weeks holiday per year. To get a true figure.

DO NOT SELL YOUR HOUSE IF THERE IS ANYWAY YOU CAN AVOID IT, you will have to pay rent for somewhere to live anyway, so you won't be that much better off. You don't say where you live in the country, where abouts are you? What would you expect your rent to be?

Is there anyway you can keep the house, will the CAB help you work something out?
I really think you need to change jobs if those figures are right.
Just had a though, is that £600 per week, & not per month earnings for you?

suelongman

albertross wrote: »

I don't understand what you are going to achieve by selling it. You will get a price far below the market value, and then to stay there, you will have to pay rent (have you asked them how much, it may be more than your existing mortage) instead of mortgage. Council tax and bills etc will be the same. If there is no equity left after they take the 25% off the price, then the debts aren't going to go away by selling it. If your house is worth 150k, that's 37500 wasted (assuming they offer you 25% below market value).

I'm sure the agent was very nice, I would be too if I was getting a house on the cheap, with a permanent tenant. It's a business, and businesses have to make profits, and pay taxes. Think very hard and take independent advice before you commit to this, or you may get stung.

THE REASON THAT I WHANT TO STAY IN THE HOUSE IS BECAUSE I HAVE LIVED HERE 30YEARS .THE MORGAGE IS £1,200 A MONTH BECAUSE I HAVE OVER £4,000 ARREARS AND I WAS TAKEN TO COURT IN SEPTEMBER OF LAST YEAR.THAY PUT A SUSPENDED REPOSSESTION ORDER ON IT .SO AS LONG AS I KEEP UP THE PAYMENTS PLUS SOME OFF THE ARREARS THEN I WOULD BE OK.BUT I HAVE GOT BEHIND ONCE AGAIN AND GE MONEY WHO ARE MY MORGAGE COMPANY ARE ON MY BACK CONSTANTLY.ME AND HUBBY ARE BOTH SELF EMPLOYED AND NOT VERY GOOD WITH MONEY,WE HAVE DONE THE BEST WE CAN IN OUR SITUATION BUT I FEEL THAT WE HAVE NO OTHER OPTION.I KNOW WE WILL LOSE MONEY BUT IF WE SOLD UP OR GOT REPOSSESED ,BECAUSE THAT IS WHAT WILL HAPPEN AVENTUALY.WE HAVE NO SAVINGS NO PENTION AND NOTHING AT ALL.THE MONEY WE COULD MAKEON THE HOUSE WOULD BE SWOLOWED UP BY ARE CREDITORS.SOME PEOPLE WILL THINK WE ARE CRAZY BUT THERE ARE ALSO A LOT THAT ARE IN THE SAME BOAT. I SUPOSE I COULD BE CLASSED AS LUCKY IN SOME WAYS THAT I CAN DO THIS AND STILL STAY IN MY HOME OF 30YEARS.NOTHING IS SIGNED YET.I SPEND ALL MY LIFE WORKING AND PAYING BILLS.I DONT GET ANY BENIFITS NO TIME OFF WHEN WE ARE ILL OR ANYTHING.I PAY MY BILLS WEEKLY SO THAT I DO NOT GET BEHIDE AGAIN.I AM SICK OF IT ALL