Hi, my hubbie just walks out of the room when I mention money, and so I have struggled on my own, trying to sort out debt from his failed business.
Income
Him (650 weekly) 2600
Me (at home, 3 children under 5)
childrens allow 535
Outgoings
Mortgage 240,000 450 Interest Only (until Dec)
Business Loan 63,500 635 quarterly Interest Only
Credit Union 15300 loan savings 4500 payments 371 per month
Car Loan 12,400 324 per month
mortgage insurance 103 per month
Car ins 36 per month
car tax 25 per month
Looking at selling the car, hoping to get whats owed on it to clear that debt. Then ask the credit union for a loan for 4000 to buy a run around. If they add that to our existing loan, the repayment would stay at 371, so we would make a cashflow saving of 324 and reduce our debt by 8000.
How does this sound?
Its a real struggle as things stand and Im on my own sorting this out, as my husbands way of dealing with it is to put head in sand.
I have our personal bills and debt paid somehow. I forced him to the accountant who said things werent as bad as what he thought, and offered to act as a intermediary and bring things up to date.
I have control of cheque book and credit card, as he wrote cheques when I told him not to, he used credit card when I told him not to. So I have taken full control. He seems just happy to get a few quid in his pocket per week for fags.
Its just I am worrying and trying to come up with a solution on my own.
Any help would be much appreciated.
Caz
Income
Him (650 weekly) 2600
Me (at home, 3 children under 5)
childrens allow 535
Outgoings
Mortgage 240,000 450 Interest Only (until Dec)
Business Loan 63,500 635 quarterly Interest Only
Credit Union 15300 loan savings 4500 payments 371 per month
Car Loan 12,400 324 per month
mortgage insurance 103 per month
Car ins 36 per month
car tax 25 per month
Looking at selling the car, hoping to get whats owed on it to clear that debt. Then ask the credit union for a loan for 4000 to buy a run around. If they add that to our existing loan, the repayment would stay at 371, so we would make a cashflow saving of 324 and reduce our debt by 8000.
How does this sound?
Its a real struggle as things stand and Im on my own sorting this out, as my husbands way of dealing with it is to put head in sand.
I have our personal bills and debt paid somehow. I forced him to the accountant who said things werent as bad as what he thought, and offered to act as a intermediary and bring things up to date.
I have control of cheque book and credit card, as he wrote cheques when I told him not to, he used credit card when I told him not to. So I have taken full control. He seems just happy to get a few quid in his pocket per week for fags.
Its just I am worrying and trying to come up with a solution on my own.
Any help would be much appreciated.
Caz