statement of affairs need help

chimp_choker

Ok folks, I've been here a couple of years now and I tell all people who want help to do an SOA but things have got decidedly worse. Here is a SOA any tips??

I can't work at present ( mental / physical problems ) and my wife can't get a second job because she has to help me... been through CCCS and payplan and both can't help as we are in deficit. will not sell house at any cost and suicide is not the solution either, thankfully.

Income,
Wife wages £953 PCM
benefits £339.78 PCM
£268.75 PCM
£1561 pcm income
(possibly another 253 PCM in benefits in 6 weeks but not guarunteed )
(£1814 with new benefit)
outgoings
Mortgage £757
telephone internet tv 62.95 (basic package)
gas elec 94 use low energy bulbs, switch off everything, wear jumpers rather than use heating etc can't move as owe £400
water 31 not meter as meter would cost more
council tax 131 in correct band
food 85 per month for 3 of us
dog insurance and food 22
mortg insurance 86
petrol 200 being spaked means virtually all journeys are car
debt repayments 400
mobile tied till nov contract 40
house insurance 53 possibly could be cheaper
tv licence 12

£1974 pcm outgoings

over to you good folk

monkeymonkey_3

Hi, don't know if it's possible for you to swap your supplier, or if you're tied in, but we recently (about a month ago), got a deal with Virgin for cable channels, internet and landline phone for £30 a month. With the phone you also get free calls in the evenings.

Keeping_Motivated

Hi what kind of mortgage do you have, is it a repayment mortgage?

Could you reduce the tariff on your mobile while you are tied to the contract?

I pay £9.99 for broadband and £12 to BT and we have freeview this type of deal could save you £40 ish per mth?

Mortgage insurance seems high have you gone through a comparison site to check it out?

Definately check the house insurance I reckon you could save at least £30 per mth on that (also make sure you look at going through Quidco for the cash back)

At least £100 per mth to be saved on them 3 things if you do your research.

chimp_choker

we are on virgin at moment... phones are £40 for 3 phones, mortgage is repayment variable just gone up £150 pcm when the fixed rate changed. will check out the virgin, home and personal insurance.

postingalwaysposting

chimp_choker wrote: »

Ok folks, I've been here a couple of years now and I tell all people who want help to do an SOA but things have got decidedly worse. Here is a SOA any tips??

I can't work at present ( mental / physical problems ) and my wife can't get a second job because she has to help me... been through CCCS and payplan and both can't help as we are in deficit. will not sell house at any cost and suicide is not the solution either, thankfully.

Income,
Wife wages £953 PCM
benefits £339.78 PCM
£268.75 PCM
£1561 pcm income
(possibly another 253 PCM in benefits in 6 weeks but not guarunteed )
(£1814 with new benefit)

outgoings
£757.00 Mortgage
£62.95 telephone internet tv (basic package)
£94.00 gas elec ~ i know you are doing the right things but try and lower this if possible. Do you do many loads of washing/tumble dry (try and reduce this)?
£31.00 water
£131.00 council tax
£85.00 food ~ well done
£22.00 dog insurance and food
£86.00 mortg insurance
£200.00 petrol
£400.00 debt repayments ~ whats the debts/aprs? can you swith to lob cards/0% deals?
£40.00 mobile
£53.00 house insurance ~ this can be found cheaper elsewhere... do a search i get a three bed semi for £10 per month and we arent in the most pleasent area
£12.00 tv licence

£1974 pcm outgoings

over to you good folk

You have also missed a few things out, road tax/car repairs/mot... i guess these have been delt with as and when? Also things like birthdays etc/weekly spends.

good luck with your journey.

Keeping_Motivated

Why are you on a variable rate for your mortgage? You would be better with a deal to reduce the interest rate?

Also although not ideal could you not change your mortgage to interest only just to give you a breathing space and bring your incoming and outgoings into balance? You can change it back to repayment when things improve.

If the other poster is only paying £30 with virgin maybe look into why you are paying £32 more?

MadCad

Are you sure your food estimate is correct....£21.25 a week for three of you?

savingforarainyday

Hi, i would say the same as above, cheaper mortgage insurance definitely, there must be cheaper phone and internet, as soon as you can get rid of mobile phone contract, if essential, try virgin media for their packages, there mobile deal for that is excellent. same with house insurance shop around, i have a deal in mind when mine is due for renewal in a couple of months. Go through the cashback sites when you do and earn some pennies.

Check your mortgage, how flexible is it, on mine i have the option of a 6 months repayment holiday. I have sometimes considered using this to pay off existing debt. Can the term of your mortage be extended. once you are out of debt you could always then thow the spare cash back at the mortgage to get it back to where you are now.

That's as much as i can think of on a saturday night after half a bottle of very cheap wine:D

skint_spice

For tv/phone/internet - I have a freeview box and pay talktalk about £18 for phone line (no extra BT charge), calls and BB.
Also your mortgage insurance seems really high - can this be changed?

Hope you can sort things out soon and good luck to you. x

bestmumof3

One final thing to remember - suicide is never an option; there are always solutions. No matter how desperate things appear to be, there is always always always a solution - and suicide is not it.

Just out of interest - who is the third person. Is it another adult?

tylersbabe

Hi am newbie around here and trying to sort my debts with the great advice from this website!!

I agree with the other poster tho your mortgage insurance seems very high through comparison sites i managed to get insurance on similar amount for 24 (pounds sorry my pound symbol seems to be a hash key!!) and I also live in a V dodgy area, so i would check that out.

Good luck and no matter how desperate things seem suicide is never the answer.