help i'm new will sorting debts affect renew of mortage?

charliemouse

council tax....appoligies i was wrong our council tax is £120 per month not £40

so our total out goings should be an extra £80.00 higer than i said

thanks everyone for your help.

I will look into the food bills. but what with the baby on the way I'm not sure how much lower this will go what with nappies to buy etc.

rayday2

Maybe on the wrong wavelength here but a solution I can see would be your hubby giving up work, with the amount of insurnace policies you have (which you need with self employed) the cost of diesel etc it nearly blanks out what he earns. If he was to give up work and be the child carer when baby comes the amount you get in tax credits etc would be on paper more than he brings in. Not sure if this is something you have considered maybe worth giving it an airing.

The dogs are the next non necessary huge cost, again with a child in the house your opinion could change with the amount of work and costing. There is no way I would pay that much out on animals with children in the house - see how you feel when baby comes along I have an inkling your opinion could change!

I think there is scope to bring your food shopping down I have nappies in my budget (I use Tesco or Sainbury ones both fab!) and I never noticed a baby I breastfed best for baby and cheap! When she moved onto food I made my own again cheaper and better.

But what you have not considered is the clothing side of babies etc in fact nto sure I saw anything in your budget for Christmas, Clothes, Birthdays etc

I am not trying to sound doom and gloom but its a big change happening in your life and a fantastic opportunity to assess your lives and think whats important with a baby on the way and I think some of your monthly outgoings you may realise are not needed etc.

As for your original mortgage question in light of current news and you being pregnant and hubby self employed you could be better for a while sticking with your lender - but that choice is up to you. Definately if you do remortage do not consider sticking cards etc into the balance you need to protect any equity in your house!

charliemouse

rayday2 wrote: »

Maybe on the wrong wavelength here but a solution I can see would be your hubby giving up work, with the amount of insurnace policies you have (which you need with self employed) the cost of diesel etc it nearly blanks out what he earns. If he was to give up work and be the child carer when baby comes the amount you get in tax credits etc would be on paper more than he brings in. Not sure if this is something you have considered maybe worth giving it an airing.


I think there is scope to bring your food shopping down I have nappies in my budget (I use Tesco or Sainbury ones both fab!) and I never noticed a baby I breastfed best for baby and cheap! When she moved onto food I made my own again cheaper and better.

But what you have not considered is the clothing side of babies etc in fact nto sure I saw anything in your budget for Christmas, Clothes, Birthdays etc

I am not trying to sound doom and gloom but its a big change happening in your life and a fantastic opportunity to assess your lives and think whats important with a baby on the way and I think some of your monthly outgoings you may realise are not needed etc.

As for your original mortgage question in light of current news and you being pregnant and hubby self employed you could be better for a while sticking with your lender - but that choice is up to you. Definately if you do remortage do not consider sticking cards etc into the balance you need to protect any equity in your house!

Thanks for your advice.... can anyone advise where i go from here?
I just don't know where to start & i want to start some sort of plan to pay these debits off. I can undertand that skimping here and there wil save some money, but as you say we do not have money to be able to buy birthday presents, xmas etc. So i really do need to do something about the situation quickly.

Regarding the overdraft woud i be better putting this on a credit card? or do i just leave it where it is & keep geeting charged £30 for everything over my £5000 limit.


Should i look into moving some of the moey onto cheaper cards - or is this just proloning the agony of all this debt?

Should i contact citizens advice? to see if they can write to the credit card people to let tham know we are unable to cope with it all?.... but won' this give us bad credit sores for the mortage?

climbgirl maybe you can help me further on the next steps to take?????

HELP!!!!!

poppy_f1

can you get sky broadband they have a few packages from free upwards, least then you may be saving 20 quid from orange
also i think sky do a telephone package,
think tis 3 for 26 quid

rayday2

If you are happy with the thought for the next few years you will not be able to get credit then the CAB, CCCS, Payplan or National Debthelpline could be something to consider.

Is your house big enough for your "new" family? If so then staying there for the forseeable future will not be a problem so going the above route could be prudent.

You still need to cut back on some of the bigger figures though, please don't look at it as scrimping, to be honest if you don't mind me saying you do spend quite huge sums on things that others spend smaller amounts on so its not scrimping at all really.

I think you need to chat with your hubby about options and if you go on the www.entitledto.co.uk website you could put in various options of you working or not and hubby etc, assume baby is here so that you can work out whats best for you.

Try to step back and ask if some of the big amount there are other ways around, like is the special diet 100% necessary or is it just because of the breed. If it is necessary are there better ways of buyign it try googling etc to find out. Try googling the condition too to see if its 100% necessary. Go on supermarket money website see if you can get cheaper pet insurance I am 100% sure you can!

But its all a very positive time if you can objectively look at what you pay at, make some choices its well worth it for the baby and your new family life together - promise!

Lizalu

If you're swapping insurance plans (pet etc) make sure you go through quidco fro some cashback or pigsback to save up vouchers toward christmas/ birthday spends. It really does make a difference.

charliemouse

rayday2 wrote: »

If you are happy with the thought for the next few years you will not be able to get credit then the CAB, CCCS, Payplan or National Debthelpline could be something to consider.

Is your house big enough for your "new" family? If so then staying there for the forseeable future will not be a problem so going the above route could be prudent.

You still need to cut back on some of the bigger figures though, please don't look at it as scrimping, to be honest if you don't mind me saying you do spend quite huge sums on things that others spend smaller amounts on so its not scrimping at all really.

I think you need to chat with your hubby about options and if you go on the www.entitledto.co.uk website you could put in various options of you working or not and hubby etc, assume baby is here so that you can work out whats best for you.

Try to step back and ask if some of the big amount there are other ways around, like is the special diet 100% necessary or is it just because of the breed. If it is necessary are there better ways of buyign it try googling etc to find out. Try googling the condition too to see if its 100% necessary. Go on supermarket money website see if you can get cheaper pet insurance I am 100% sure you can!

But its all a very positive time if you can objectively look at what you pay at, make some choices its well worth it for the baby and your new family life together - promise!

luckily our house is big enough, so we won't need to move..as long as we can get the debits sorted.

re-dogs - unfortunatly it is not a breed thing but because i have to make their food from scratch raw pulped veg (do this on a mass scale & freeze once a month) & raw meat (40p per day) due to chicken & protein allergy which is put into every mass made diet - hence me feeding BARF diet.

don't feel like i'm getting any further ahead as to what step to take next....how do most people go about dealing with their debts? is it through CAB etc?

rayday2

I did mine through the national debt helpline and worked it out on my own. I didnt fancy going to CAB ours you have to queue up all morning. A lot on here use CCCS and Payplan I think you can sort CCCS out on line if you dont want to talk to anyone but they are there over the phone too.

Someone else will be better placed to say how they deal with things. I downloaded the information pack from national debthelpline and took it from there really.

Sorry can't help much more

Lizalu

I think people are trying to help you save money - so that this can be used to throw at your debts.
Re life insurance critical illnes etc. My boyfriend is also self-employed but pays a lot less than this - think it's more like £90.

climbgirl

You asked for the next steps you need to take...you need to cut your outgoings and start repaying that debt! Immediately!

I didn't misread your insurance spendings - I think spending £200 on life insurance, unemployment and critical illness is crazy! Like another poster, my jaw hit the floor when I read that. I understand some mortgages require unemployment insurance but I've never read of anyone on these boards who is paying £200 every month for this. It's daylight robbery and you need to get this down. I don't think life insurance is a necessity when you are £25,000 in debt. Sorry to be harsh, but I think you need to hear it.

I think your diesel outgoings are incredibly high too - £360 a month is huge. If you're not prepared to give up your cars then maybe consider selling and buying a more economical one. Or if you're driving all the way into London, check out driving to the closest station and catching the train in. It might be cheaper.

I understand about committing to animals - my family has a dog and I know full well the commitment and cost they require. But you have to be realistic here. You are £25,000 in debt and you are living on credit right now, from the sounds of things you're treading water. You have a baby on the way and you're facing a period of reduced and uncertain income. Can you really commit to giving these dogs the life they deserve? Really? Every time you spend money on them, you're going further into debt. It's not fair on you, your child or the dogs.

I know this sounds really harsh but you're going to have to make some big sacrifices to get out of this situation.

I can't really advise on the remortgaging sorry, I don't know much about that. Others here will help. I think the first priority is cutting that spending though. You're lucky - there's a lot of scope within your budget to cut back.