ANY help would be gratefully received. Desperate times

GeorgeUK

Have you applied for a 0% card recently? Notice that you have the 11k Virgin card as being 0% and this is about to run out. Is the full amount of this really 0%? was it a previous BT?

It looks like it is getting very close to the crunch if you are going to start paying interest on this when you haven't previously

I would advise contacting one of the debt charities asap.
Possibly CCCS - i've heard they have something you can fill in online.

Edit: OK - CCCS say they can't help until you have more coming in than gong out.
Definately get your wages into an account with an organisation you do not owe money to.

Straw clutching:
check https://www.saa.gov.uk and ensure your house is in the correct band - otherwise you should be able to reclaim that money.
have you got PPI cover on the loans? - read this article http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Not sure trying to reclaim bank charges is viable right now (while the case is in court) - and as you haven't had late payments or defaulted you may not be eligible for anything anyway.

jue3107

Thanks George. I have done the CCCS online thingumy. See my edited post above yours. It's not looking good:o( The virgin card is all balance transfers - 3 separate ones. I have applied for a 5.9% for the life of the balance card with citibank, but I haven't heard back yet - did it on Saturday. I just don't think that they are going to approve it. I've never defaulted on any payments and haven't made a late one in over 4 years, but I think once they see my debts they will steer well clear. I have registered with experian but got the password wrong and have to ring them for them to unlock itl

jue3107

GeorgeUK wrote: »

Edit: OK - CCCS say they can't help until you have more coming in than gong out.
Definately get your wages into an account with an organisation you do not owe money to.

Straw clutching:
check https://www.saa.gov.uk and ensure your house is in the correct band - otherwise you should be able to reclaim that money.
have you got PPI cover on the loans? - read this article http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Not sure trying to reclaim bank charges is viable right now (while the case is in court) - and as you haven't had late payments or defaulted you may not be eligible for anything anyway.

I have an overdraft with my current bank (Alliance & Leicester) but otherwise no loans or anything.

Re straw clutching - I checked earlier about the Council Tax banding and wouldn't you know it - yep it's correct.

I have had a couple of unauthorised overdraft and failed direct debits - forgot about those but I hadn't bothered to reclaim them because of the test cases. Haven't got PPI on the loan.

Lakelady_2

If your Dad needs alot of help - is he getting the right amount of benefits -attendance allowance for example. perfectly reasonable if he gives it to you as a carer.
Just a thought.

jue3107

Thanks Lakelady. He does get attendance allowance and something else (I can't remember what) at the moment and has said he will help me where he can. I've spoken to him over the past few days about everything that's going on - but that really bothers me too as he's so poorly with no hope of getting better (he's 81 with Parkinsons, angina, diabetes, registered disabled). I don't want to cause him any more worry than I already do as his daughter.

Even so, I couldn't take all of it as my brother does his bit too with the garden and such like, and I don't think that even half of it is going to get me out of the hole I've got myself into. Not much further and I'll be in Australia!!! I sound so mercenary talking like that and I'm not.

Merlot

May I ask how old is your son. What is your house worth and what is the total mortgage.

The monthly debts are costing you approx £649 and the mortgage is £875, I would say you need to think about selling and renting privately.

The only option I can think of at this time is bankruptcy, but that should not be taken lightly, you need advice from the CAB, I think its only a matter of time before you start missing payments etc.

I hope you don't think I am being harsh here, but you need professional advice and soon.

Merlot.x.

jue3107

Hi Merlot

My son is 14 nearly 15. His Dad pays maintenance for him every month but obviously that isn't going to go on for ever, likewise tax credits and child benefit.

The house is probably worth about £190k and the total mortgage now is £152k. I could sell, get £35k after fees and pay off some of what I owe and then try to get somewhere smaller, but I'm desperately trying to avoid that at the moment as there aren't any properties in the area we live that are in that price bracket and if we move my son would have to move school and lose touch with all his friends. After going through the trauma of his parents divorcing, I really don't want to isolate him at this important time of his life.

I don't think that renting is going to be a good idea for us anyway, as we have pets that we wouldn't want to get rid of and I know there aren't many places that will allow them if you are renting. So that would have to be a last resort.

i don't think you are being harsh at all and I really do appreciate all your help and advice,

Thanks
Jue x

Merlot

If you are determined to stay in house, you need to get rid of the mobile, possibly look at losing some of your insurance policies, change your mortgage onto interest only, phone your council and see if they permit 12 month payment instead of 10 (my council don't, but plenty do) lower your buildings and contents (its too high), change your gas and electricity supplier and do them through Quidco, you will earn cashback.

Could your son do a paper round at the weekend to help out?

Merlot.x.

Merlot

We are trying to find £237.56 a month to break even, if you changed your mortgage to interest only, that would save you about that amount, and if you break even maybe the CCCS would be able to help you.

jue3107

The problem with changing the mortgage onto interest only is that I'm tied in until 2012 on a reduced rate and there is quite a high redemption if I change. So I'm jiggered all ways on that one.

My son could possibly do a paper round, but I couldn't take any money off him from that - I would feel terrible.

I'll definitely get onto the insurance companies re the house and contents. I thought that figure was pretty much standard as I usually check. I've not heard of Quidco before so I'll have a look at that tomorrow morning.

Hopefully my council will do the 12 months rather than 10. That would help a little bit.

I'm considering keeping the mobile and getting rid of the landline - then again I wouldn't be able to get on here then. I'll have to think about that one. If it wasn't for my Dad I would get rid of it straightaway.

As the mortgage is repayment the endowment policies don't really count for much other than my son would have some money if something happened to me. But if I've still got the house he would have whatever equity there is anyway, so I might look at stopping them too.

I'm not sure where to go with the gas and electricity bills. I've chopped and changed a few times in the past couple of years and it always ends up being higher than I had envisaged. I really don't use the gas that much - it's on for 4 hours in the evenings and that's it. The thermostat is set at 17 degrees so it's not like the caribbean in the house (unfortunately). I will have another look at changing them though and try to cut down on the electricity.

Do you know how much difference it actually makes to pull the plugs out at night? Is it quite a lot? Sorry for sounding stupid but i don't have a clue.

Thanks
Jue x