Advise on situation involving CC and housing.

asoe209

Yeah I do that’s a mistake that part with the house. I miss read the form and noticed after posting. 

Apologies. 

MFWannabe

Is your soa based on rental costs in your area? 

Some things are high like food, gas and electric based on one person 
Also mobile is too high; go sim only if not in contract 
17k car when you’re struggling for somewhere to live now is also not a good idea; would you be able to see it and pay off the HP and get a cheap runaround? 

Would you be able to just rent a room for now? 

Maybe if a friend or work colleague has anything available you could rent a room and it would help you both out if they needed the money. 

enthusiasticsaver

If you cannot find anything cheaper to rent like a  room in a shared house then you will need to default on the credit cards.  Your  rent is high and you have secured debt on a fairly expensive car so that is taking most of your income. You could get the groceries lower if just you and the gas and electric look high but apart from that there is little scope to cut back. 

The only issue you have is that potential landlords may credit score you so debt defaults may show up. 

sourcrates

Well to be blunt, no amount of budget re-jigging is going to solve this.

Your rent is astronomical, and you drive a car you cannot afford.

If you could move and find a cheaper place to live, that was say half what you pay now, you may be able to struggle through, but not even bankruptcy would solve this as your outgoings would still exceed your income.

You can`t afford to pay £1500 a month in rent, even without the car and the debts.

Where on earth do you live that costs that much??

RAS

asoe209 said:

Without going into to much detail my partner and I have split up and I need to find a new place to live. 

The problem is private rental pricing is crazy and even the cost of a room is so over the odds. Due to credit cards that I’m working on paying off I will really struggle to pay what people are asking for. 

I wondered if anyone knew of any options that may be around to help with renting? Or someone in my situation. 

I don’t have anywhere else to go so have to find a property. 

The OP is estimating likely housing costs. Plainly that isn't sustainable on their income

Think we need to know what the car deal is, HP, loan, PCP?

asoe209

Hey

yeah the renting side is all estimations at the moment on what I believe may be worst case high end of things.

Eg I not aiming or wanting to spend that amount on rent. 

The cars final payment is in June.

I’m staying put until I can work something out as well so I do have some breathing room. Plus selling off anything that’s not needed. 

I need my car for work and part of that is a car within a set age. Although I doubt anyone would say anything but ovbiosley as I use it for work it need to be reliable. 

Plus as it’s hybrid it’s saving me abit of money since I charge at work. 

RAS

Is there a balloon payment etc on the car or do you gain outright ownership? 

enthusiasticsaver

Paying over 50% of your income is rent is unaffordable. You will need to get something cheaper. So either a shared house or move further out to a cheaper area. 

sourcrates

Its difficult to advise on estimations, as its complete guesswork.

You are best proceeding on the basis suggested, taking essential debt into consideration before paying any non essential accounts, then once you are in a position to give more accurate figures, post back again.

Your housing is obviously important, so that is your first priority.

asoe209

Just a little update. I managed to find a place that came in at 1100 per month which ain’t a bad price where I am. 

Not the best but somewhere I can put my head down and get the other things on track. From my workings out I can still cover my current payment but I’ll still need to take time to look at these.