Valencia's SOA - I need help pls!

LookingAhead

petterson wrote: »

Hello you need loan right?
i know of a lending company i will introduce to you now this company

offered me £234.6 million pounds with which i build my new wood fertory

you can also get loan from them they are very reliable in fact they

sent the loan to me just 48hrs i still have their mailling adress
it is
[EMAIL="diamond_loan_lenders@yahoo.com"]diamond_loan_lenders@yahoo.com[/EMAIL]
contact them now directly they have help many they can help you out now

fast.

Mr Watters

You unbelievably stupid, insensitive parasite. Take your diamond loan lenders and shove them.

Valencia, ignore this idiot. And, moving on, good luck with facing your debts now and remember that every pound saved is money off your debts. Drastic action will need to be taken but you will get there in the end. Ask for (sensible) help wherever you can.

Valencia

Eager_Elephant wrote: »

Hi Valencia

Thanks for replying.

Can you confirm the value of your house and the outstanding mortgage.
£112k with a £108k ish mortgage. It's not worth selling as its paying for itself right now and I'd rather keep it.

I hate to be the first to say it but unless your income is going to increase by loads in a short space of time or your house has a lot of equity then I think bankruptcy may be an option you have to consider. The thought of bankruptcy is something I do not wish to consider. I just can't do it. Maybe its a pride thing but I just can't do it. My dad was declared bankcrupt and I've seen the after effects and yes you're 'debt free', I see it as a cheat's way out. I rather repay it all back over the next 10 years if I have to.

In terms of secondary income I have been thinking about ways to get extra cash. With the job I do, I can't get a traditonal second job due to the hours, so I need something I can do from home in the evenings.

Obviously you could loose the house, possibly your job and there would be issues over the loan your mum has taken. I love my job, so again bankrupcy is not an option as I would definitely lose it, if I declared myself bankrupt.

On the subject of your job, I know jobs are important for people but to be honest what you are earning could easily be earnt in a non-financial role. I don't understand? Are you saying I should change jobs?

Do you know how much the car is worth? According to What Car around £4565 (dealer) or £4070 private. Car is in good condition and is taxed and MOT until April. I also have full service history.

If I sell my car, this will save me £300 a month (insurance, finance payment, service payments and car emergency fund). There are some dents and things which I will sort out, then I will put it up for sale and go go back to using the bus full time.

Settlement figure £4496.91.

I have also redone my SOA with the changes and my mum is coming round tonight. I need to discuss with her the full extent of it all. If I can convince my mum to allow me to live rent free or at a reduce rate then that would help a lot. I think her mortgage on this place is between £700-£800 and there are three of us her paying £300 each.

New SOA
Income
Salary £ 1,415.00
Rental Income £ 567.00
Other Income
£ 1,982.00

Expenditure
Mortgage £ 460.48
Rent £ - negotiate with mum
Landlord Insurance £ 34.27
British Gas Homecare £ 11.00
Gym Membership £ -
Water £ 18.00
Internet £ 17.99
Rent Bills £ 75.00
Car Maintenance - Peugeot £ -
Mobile Phone £ 40.00
Mobile Phone £ -
Phone insurance £ 6.99
Car Insurance £ -
Life Insurance £ 12.00
Health Cash Plan £ 26.00
Car emergency fund £ -
Bus card £ 60.00
Food £ 100.00
Work 5 yr sharesave scheme £ -
Meals Out/Birthdays Entertainment £ 40.00
Toiletries/Hair £ 30.00
£ 931.73


Debts
Car Loan £ -
Graduate Loan £ 100.50
Egg Money £ 10.00
HSBC Credit Card £ 103.00
Amazon Card £ 51.00
Dorothy Perkins Card £ - repaid from sharesave money
Edge Card £ 30.00
RBS Gold Card £ 21.00
Mum £ 400.00
Egg Card £ 131.00
£ 846.50

Other
Tithe £ 150.00
NSPCC £ -
UCB £ -
Offering £ 20.00
£ 170.00


TOTAL EXPENDITURE £ 1,948.23

BALANCE £ 33.77


In my life insurance bit, I have income protection, is that something I need or could I cancel it, because my life and critical illness is only £12 a month and the difference is income protection.

TTMCMschine

If you end up defaulting on your loans & they find out that you're paying 10% of your income to the church then its you thats going to get crucified. You can't afford it, & at some point you're going to have to stop paying it to keep your creditors happy - at that point it will mean that you won't be able to pay anything to the church for a long, long time.

Money isn't everything, so why don't you donate 10% of your time to the church, helping out with people in need, etc - that would have far, far more value for the people you're helping & be far more rewarding for you & "Christian" than simply handing over 10% of your money.

TTMCMschine

PS - Jesus hated money lenders & usary, so I don't think he'd be too happy with what you're doing

Treadmill

There are over ways to give to God besides money, Do charitable or evangelical work, spread the good news and use the money you would tithe to relieve yourself of the burden of debt, The devil is the world and everything in it including debt.

bargainbetty

Hon, lots of us have been in really bad positions, but we all had to face up to the reality. I know you don't want to have to give up charity money, but do you really want to look your mother in the eye and tell her you can't pay her for two months, because you want to give it to others instead, however well-meaning it may be?

Not knowing which faith you are, I can only quote the Christian commandment - Honour thy father and thy mother.

I wish you all the best x

racer256

Hi,Welcome to the Forums your in the best place. Just a small suggestion I get my haircut for £7.50 at the local college every two months. I colour my own hair which costs £3-5 each time every 2 months. I know this isn't ideal every woman wants to have her hair done. Just remember this is just tempory when you are Debt Free you can have your hair done monthly! Best of Luck.

Valencia

Wow! People are pretty firm on the whole tithe thing!

Spoke to mum, who is not able to reduce my rent, and has suggested I find ways to generate more income, which is what I am going to focus on.

I am cancelling, sharesave, UCB, gym membership, t-mobile phone (if I can), phone insurances and income protection and I will be selling my car in the next month. Which should bring a total saving of around £450+.

Valencia

racer256 wrote: »

Hi,Welcome to the Forums your in the best place. Just a small suggestion I get my haircut for £7.50 at the local college every two months. I colour my own hair which costs £3-5 each time every 2 months. I know this isn't ideal every woman wants to have her hair done. Just remember this is just tempory when you are Debt Free you can have your hair done monthly! Best of Luck.

I looked into this, as a local salon where I live is looking for models for their students, I'm going to enquire this week about what sort of models and see if it something that would work for me.

liz105

The savings you have quoted, are they enough that you will be back in the black each month?

I think there may be three options, and they are all scary, DMP, IVA or bankruptcy.

If you are adamant you wont go bankrupt you may have to consider a DMP. The interest is just going to run away with you at this rate.

Have you put everything into the Snowball/Whatsthecost calculator?