My LBM (finally

FBaby

Benefits................................ 476

is this sickness benefit? Can you count on this to be on-going?

MLAB

Tixy wrote: »

With the loans - is the current balance £12k each? and the repayments £375 a month each? If so thats going to be longer than 18months to clear them?

Sorry, yes we have 32 months - they are paid off Dec'18. So far paid off 1/3rd of total loan.


I will take a look at the snowball calculator then - anything I can do to get the other half to get on board with this. . . we've got in this mess through burying our heads in the sand and living beyond our means for far too long, including through periods of maternity leave - taking 2 mortgage holidays which has pushed the monthly repayment amount up by £50 pm.


I'm going to sit down with my other half this week and agreed a detailed spending budget. As you say, we're living on a knife edge and it's been like this for far too long.


I will cut down all those that are easy wins (gym, sky, etc) - then look to see if I can speak with a mortgage advisor about re-mortgaging.


The benefits are made up of £138 CHB and £339 for dla for my eldest child - my wife has dropped 2 days a week to look after them. But this is reviewed every year, so again living on knife edge by being reliant on this income at the moment.


Thanks all for your advice - much appreciated.

Bobarella

Good luck with sorting out your debt. Lots of good advice on the thread already.