trixiebust55
Registered User
- Messages
- 1
Hi, first time poster, any advice welcomed used the online template, hope its correct!!
Income details S.W.
Net monthly €1370.40
Income history: Out of work since Dec. 2013.
Net monthly income partner/spouse: 1370.40 claiming for family of 3 through S.W.
Income history: When employed, earning 45k, but left position due to stress, found another job on 20,000 p.a. but this did not work out. Little hope of reaching this earning potential again. Wife not working due to illness. Sole name on the mortgage is me.
Amount of child benefit received 130.00
Amount of Mortgage Interest Supplement received: None
Personal circumstances so we can calculate your reasonable living expenses
The Insolvency Service has published Guidelines for Reasonable Living Expenses based on the family size, whether or not you need a car for work, childcare costs and other exceptional circumstances. By filling in this information, we (or you ) can calculate what your reasonable monthly living expenses should be.
One adult family or two adult family: Two
Do you need a car for work or do you use public transport? Car owner
Number of 12 - 18 years old:1
Home loan
Lender: B.O.I
Amount outstanding: 150,000
Value of home: 90-110,000
Interest rate: S.V.R of 5.46%
Monthly repayment Currently
Repayment should be 846.00p.m
546.00 p.m interest only rate for 12 months, expires in Jan 2015. Get 111.00 p.m in T.R.S.
Struggling badly, while paying this for the last 10 months, of the 342.60 we receive in S.W. 170.00 of this goes to paying bills, mortgage, life insurance, home insurance, electric, car insurance etc. Remaining 170.00 used for groceries and day to day living expenses for 3 people.
Amount in arrears
None, when employment ceased contacted bank immediately and told them situation, changed jobs with much lower income, but was hoping to work my way up again to a better earning potential, gave me a 2 month mortgage break to get back on my feet. This job did not work out, and had to go back to the bank and explain, and requested a 12 month interest only option which they agreed to. Did this as I wanted to get bank off my back,without really understanding how much financial pressure it would put on my family. This is nearly ending and as it stands, can't find work , struggling daily financially, and losing hope.
Summary of discussions and agreements with the bank
Have been in contact from day one, filled out S.F.S. twice, always paid interest only even if left us with no food on the table.
Credit Union
Amount of shares 400.00
Amount of loan outstanding None
Other loans and creditors
Family loan - amount outstanding
Owe parent 2000.00 which was agreed to be put on hold, but now parent wants the money back so have agreed to pay 50.00 p.m
Other savings and investments None
Do you expect any lump sums in the medium term future? No
Redundancy, inheritances, injuries awards. No
How important is retaining the family home to you?
Not important at all to me
Which of the following best describes your situation?
I don't care about keeping the family home. Both worried sick with stress, personally I don't want to keep it, I can't go on like this, no food to eat when money has run out, all to pay for something which we can no longer afford.( E.G. I currently have € 10.00 and my wife has €3.00 until tomorrow when I get welfare again, this always happens weekly)
Any other relevant information
What is your preferred realistic outcome?
I will never be in a position to repay the home loan. So I want to sell the house and deal with the shortfall"
Income details S.W.
Net monthly €1370.40
Income history: Out of work since Dec. 2013.
Net monthly income partner/spouse: 1370.40 claiming for family of 3 through S.W.
Income history: When employed, earning 45k, but left position due to stress, found another job on 20,000 p.a. but this did not work out. Little hope of reaching this earning potential again. Wife not working due to illness. Sole name on the mortgage is me.
Amount of child benefit received 130.00
Amount of Mortgage Interest Supplement received: None
Personal circumstances so we can calculate your reasonable living expenses
The Insolvency Service has published Guidelines for Reasonable Living Expenses based on the family size, whether or not you need a car for work, childcare costs and other exceptional circumstances. By filling in this information, we (or you ) can calculate what your reasonable monthly living expenses should be.
One adult family or two adult family: Two
Do you need a car for work or do you use public transport? Car owner
Number of 12 - 18 years old:1
Home loan
Lender: B.O.I
Amount outstanding: 150,000
Value of home: 90-110,000
Interest rate: S.V.R of 5.46%
Monthly repayment Currently
Repayment should be 846.00p.m
546.00 p.m interest only rate for 12 months, expires in Jan 2015. Get 111.00 p.m in T.R.S.
Struggling badly, while paying this for the last 10 months, of the 342.60 we receive in S.W. 170.00 of this goes to paying bills, mortgage, life insurance, home insurance, electric, car insurance etc. Remaining 170.00 used for groceries and day to day living expenses for 3 people.
Amount in arrears
None, when employment ceased contacted bank immediately and told them situation, changed jobs with much lower income, but was hoping to work my way up again to a better earning potential, gave me a 2 month mortgage break to get back on my feet. This job did not work out, and had to go back to the bank and explain, and requested a 12 month interest only option which they agreed to. Did this as I wanted to get bank off my back,without really understanding how much financial pressure it would put on my family. This is nearly ending and as it stands, can't find work , struggling daily financially, and losing hope.
Summary of discussions and agreements with the bank
Have been in contact from day one, filled out S.F.S. twice, always paid interest only even if left us with no food on the table.
Credit Union
Amount of shares 400.00
Amount of loan outstanding None
Other loans and creditors
Family loan - amount outstanding
Owe parent 2000.00 which was agreed to be put on hold, but now parent wants the money back so have agreed to pay 50.00 p.m
Other savings and investments None
Do you expect any lump sums in the medium term future? No
Redundancy, inheritances, injuries awards. No
How important is retaining the family home to you?
Not important at all to me
Which of the following best describes your situation?
I don't care about keeping the family home. Both worried sick with stress, personally I don't want to keep it, I can't go on like this, no food to eat when money has run out, all to pay for something which we can no longer afford.( E.G. I currently have € 10.00 and my wife has €3.00 until tomorrow when I get welfare again, this always happens weekly)
Any other relevant information
What is your preferred realistic outcome?
I will never be in a position to repay the home loan. So I want to sell the house and deal with the shortfall"