Help needed do i need a DMP

lost_hope

Afternoon , 
after some advice , so a little bit of back ground, 5 years ago I was in a mess with money , years of overspending swapping credit card etc got to the point where i needed to do something so went into a DMP but i was only in it for a few months as i came into some money and was able to pay it all off , The defaults are still on my credit report until the end of next year , since coming out of the debt management plan me and my partner bought a house (with some help) , mortgage rate wasn't the best because of the defaults and credit history but we got one and our 2 fixed mortgage rate is up in march , now i do not know what to do , try and keep living until they send me a new deal which will be around December/ January but i will have to stay with them because i don't think ill get a new mortgage any where else , or knowing that do i start a DMP now my mortgage rate is 4.8% and i know it will go up , below is my soa  , advice welcome on what to do and my next steps , i did learn my lesson and was better with money only cost of living etc and me and my partner having a child , maternity pay then basic statuary maternity pay and my partner is now back to work 2 days a week and try's to pick up an extra day when she can 

Statement of Affairs and Personal Balance Sheet

Household Information

Number of adults in household........... 2

Number of children in household......... 2

Number of cars owned.................... 2

Monthly Income Details[

Monthly income after tax................ 1900

Partners monthly income after tax....... 400

Benefits................................ 95

Other income............................ 0

Total monthly income.................... 2395

Monthly Expense Details

Mortgage................................ 802

Secured/HP loan repayments.............. 0

Rent.................................... 0

Management charge (leasehold property).. 15

Council tax............................. 153

Electricity............................. 101

Gas..................................... 101

Oil..................................... 0

Water rates............................. 47.43

Telephone (land line)................... 0

Mobile phone............................ 85

TV Licence.............................. 13.25

Satellite/Cable TV...................... 24

Internet Services....................... 25

Groceries etc. ......................... 350

Clothing................................ 20

Petrol/diesel........................... 70

Road tax................................ 2

Car Insurance........................... 30

Car maintenance (including MOT)......... 20

Car parking............................. 0

Other travel............................ 0

Childcare/nursery....................... 0

Other child related expenses............ 30

Medical (prescriptions, dentist etc).... 5

Pet insurance/vet bills................. 0

Buildings insurance..................... 6

Contents insurance...................... 6

Life assurance ......................... 11.32

Other insurance......................... 0

Presents (birthday, christmas etc)...... 20

Haircuts................................ 0

Entertainment........................... 30

Holiday................................. 20

Emergency fund.......................... 0

Total monthly expenses.................. 1987

Assets

Cash.................................... 0

House value (Gross)..................... 175000

Shares and bonds........................ 0

Car(s).................................. 2000

Other assets............................ 0[b]

Total Assets............................ 177000

Secured & HP Debts

Description....................Debt......Monthly...APR

Mortgage...................... 153000...(802)......4.8

Total secured & HP debts...... 153000....-.........-   

[b]Unsecured Debts

Description....................Debt......Monthly...APR

Tesco credit card..............7181.71...268.......21.9

nationwide overdraft...........1500......32........39.9

hsbc credit card...............2600......70........26.9

Ratesetter loan................8994......232.......14.44

vanquis credit card............2482......50........25.92

Total unsecured debts..........22757.71..652.......

Monthly Budget Summary

Total monthly income.................... 2,395

Expenses (including HP & secured debts). 1,987

Available for debt repayments........... 408

Monthly UNsecured debt repayments....... 652

Amount short for making debt repayments. -244

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 177,000

Total HP & Secured debt................. -153,000

Total Unsecured debt.................... -22,757.71

Net Assets.............................. 1,242.29

Created using the SOA calculator at www.stoozing.com. 

Reproduced on Moneysavingexpert with permission, using other browser.

Floss

Thanks for the SOA and the background. Just a couple of things that immediately spring to mind:

Cars - £20 a month to cover servicing & MOT, £2 road tax and £30 insurance doesn't sound enough for 2 cars? Could you clarify that please?

Check your mortgage account online, as there are often new fixes available from 6 months ahead of expiry, and you could have a look at the cost to get an idea before committing yourselves to a new rate.

lost_hope

That’s just for my car , tax is £20 for the year , I work at a garage and get car parts very cheap , not is £45 for the year , I pay the house bills wotj my money and my partner works 2 days a week and get paid weekly and gives me half her wage hence the £95 a week , she pays for the other car herself out of her money. 

The mortgage is with aldermore and they don’t have an online facility only for mortgage brokers