We are in a mess!!!!!!! Please advise

charlienbaz

Hi everyone,

Omg what a mess we are in...where do i start.

we have been paying all our debts and bills up until i lost one of my jobs and child tax credit cut our payments thus leaving us £90 a week short.

we have a mortgage and 2 secured loans on the house plus other loans and credit cards.

A few years ago i went to buy a salon and lost thousands when the vendor pulled out. (secured loan 2)

we would like to remortgage and join all 3 together.....

problems are as follows:

1. we would need 100%
2. bad credit
3. our house is a pre fab (concrete and steel construction)

is there anyone out that has any ideas as to what to do?

(house and mortgage amount would be £130k current monthly payments £1200)

Horace

Hi and welcome.

Please post your statement of affairs so that we can see what you have coming in, what is going out and possibly where money is being frittered away.

CHEAP_AS_CHIPS_4

hiya,

welcome aboard, i second what horace above has said.

as an ex mortgage advisor, i can tell you that no one is doing 100% mortgages at the mo, and people are struggling to get even 90% and i know it can be difficult with a prefab.

you may not even need to do that, best post your soa and the wonderful people on here will help loads:D

cheaps x

Cleosmum

Can you look to replace the job you lost?

Also post up your SOA

Poosmate

Please use the following link to complete your SOA and post it here and we'll see if we can help you at all:-

http://www.makesenseofcards.com/soacalc.html

Everyone is amazing on here so you have nothing to lose.

Poo

charlienbaz

IncomeBarry Wages2038.00My Wages476.80Child Allowance125.00Child Tax Credit28.64Maintenance140.00Total Income2808.44OutgoingsBank of Scotland513.00Welcome Finance392.94Future Mortgages223.62Tv licience11.61House Insurance30.24southern water23.34Virign media67.36Council Tax105.00Gas/electric83.33Mobile Phones61.82Car Insurance37.39advantage234.30food Shooping280.00petrol100.00Total2163.95

Bank of scot loan (business loan from when i went for salon)50.00additions direct (catalogue)60.00bramsdon (solicitors bill)20.00capital one (credit card)35.00virign (credit card)50.00lloyds credit card150.00lloyds loan140.65black horse (car loan, car repossessed)100.00total debt payments605.65

Tigger1983

The only thing I can suggest is cut your virgin media down a bit!! If you're sturggling to make monthly payments then that's an awful lot to pay for TV!!

Also SOA is a bit confusing, there's a link called snowball, i don't have it but I'm sure one of the others will know, helps you produce your SOA.

Tig x

charlienbaz

Tigger1983 wrote: »

The only thing I can suggest is cut your virgin media down a bit!! If you're sturggling to make monthly payments then that's an awful lot to pay for TV!!

Also SOA is a bit confusing, there's a link called snowball, i don't have it but I'm sure one of the others will know, helps you produce your SOA.

Tig x

The virgin bill is high because its for tv, broadband and phone, which is alot cheaper than when we had tiscali, one tel and sky.

i'll look for snowball... thank you

Horace

charlienbaz wrote: »

The virgin bill is high because its for tv, broadband and phone, which is alot cheaper than when we had tiscali, one tel and sky.

Well, I have Virgin broadband phone and TV and my package costs me £30 a month - admittedly I don't get all channels and nor do I use their pay per view service but my bill is never that high. How about changing to a lower package?

I second the fact that your SOA is hard to read, I cannot see it overly well because I am visually impaired. So if you could list it out instead of squashed up it would be appreciated. Use the link that Poosmate has listed that should help.

I am confused by the amount that you have put by for future mortgages - as you haven't got these yet why not put them towards your debts?

Thanks.

charlienbaz

the amount we ave for future mortgages is what we pay (future mortgages is a loan company!!!!)

my food bill is for 4 adults.
we are going to change our mobiles from vodafone to Virgin, thus saving another £30 per month.
we have also changed our virgin tv package, not sure what that will be next month.

sorry not sure why you are confused about the business loan

Juliepink26

I wouldnt pay that for TV, Broadband etc. I dont have sky, I use freeview in all the rooms. No nasty bill to pay at the end of the month.... I also never buy from catalogs, they are usually so overpriced.