At the end of the financial road - this is pulling us apart

[phillers]

Morning,

In a terrible situation. Years and years of poor communication and financial mismanagement have led us here. I am broken, ashamed and not sure if this is something that we can ever get out of. Terrified of losing our home

please be kind

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 2[b]

Monthly Income Details[/b]
Monthly income after tax................ 4355
Partners monthly income after tax....... 2511
Benefits................................ 0
Other income............................ 250[b]
Total monthly income.................... 7116[/b][b]

Monthly Expense Details[/b]
Mortgage................................ 801
Secured/HP loan repayments.............. 386
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 139
Electricity............................. 98
Gas..................................... 112
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 0
Mobile phone............................ 67
TV Licence.............................. 13
Satellite/Cable TV...................... 36
Internet Services....................... 21
Groceries etc. ......................... 600
Clothing................................ 30
Petrol/diesel........................... 220
Road tax................................ 22
Car Insurance........................... 64
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 120
Medical (prescriptions, dentist etc).... 9
Pet insurance/vet bills................. 28
Buildings insurance..................... 22
Contents insurance...................... 17
Life assurance ......................... 49
Other insurance......................... 9
Presents (birthday, christmas etc)...... 100
Haircuts................................ 20
Entertainment........................... 150
Holiday................................. 0
Emergency fund.......................... 100[b]
Total monthly expenses.................. 3298[/b]
[b]

Assets[/b]
Cash.................................... 0
House value (Gross)..................... 320000
Shares and bonds........................ 0
Car(s).................................. 14000
Other assets............................ 0[b]
Total Assets............................ 334000[/b]
[b]

Secured & HP Debts[/b]
Description....................Debt......Monthly...APR
Mortgage...................... 140098...(801)......4.11
Hire Purchase (HP) debt ...... 17000....(386)......0[b]
Total secured & HP debts...... 157098....-.........- [/b]

[b]Unsecured Debts[/b]
Description....................Debt......Monthly...APR
updraft loan...................21000.....360.......16.9
updraft loan 2.................8000......210.......18.9
Updraft loan 3.................6500......165.......18.9
overdraft......................2500......80........42
Creation Credit card...........7100......192.......21
very...........................700.......48........50
halifax cc.....................2400......24........0
fluid..........................3600......170.......39
LLoyds.........................3890......132.......8
HSBC loan......................7309......210.......7.9
Lloyds.........................10500.....269.......29
barclaycard platinum...........12600.....258.......4.9
barclaycard....................4960......109.......4.9
natwest........................2000......20........0[b]
Total unsecured debts..........93059.....2247......- [/b]

[b]
Monthly Budget Summary[/b]
Total monthly income.................... 7,116
Expenses (including HP & secured debts). 3,298
Available for debt repayments........... 3,818
Monthly UNsecured debt repayments....... 2,247[b]
Amount left after debt repayments....... 1,571[/b]

Cards are all cut up. No possibility of us moving to 0% right now as we have too much debt and are seen as high risk
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Babyroobs · Today 10:05

If I'm reading this correctly you have 93k worth of debts yet have a really recent income and outgoings way less than your earnings ? First call needs to be working out how you got into this much debt or was it accrued before your earnings were so good ? I would speak to somewhere like CAB, stepchange or CAP.
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Ted27 · Today 10:08

Im sorry but I’m not sure what the issue is.

If I’m reading all of that correctly after all your outgoings and debt repayments you still have £1500 left.

Yes you have a lot of debt and it must be difficult to keep track of them all but you are managing the repayments. A couple if those could be paid off very quickly if you paid more than the minimum
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Any advice would be so appreciated

There must be things that you are not accounting for if on paper you have a surplus in excess of £1,500 a month but you're terrified of losing your home?

Go through every single online statement you have an find out exactly where your money is going. Is cash being withdrawn and spent? Do you budget monthly for regular expenses or do you try and find money for Christmas in December?

Your SOA looks like it is based on what you think you should spend rather than what you are actually spending.

There's no point allocating a monthly amount for MOT etc if you're not actually putting that money aside, you'll just see it as extra "spends" when the kids need school shoes.

You are in a very fortunate position with that income servicing a seemingly manageable (but large) debt, however you need to be very honest about where your money is going. You can't get back what is spent. Forget about that, but you can make some much better decisions going forward.

I don’t think you’re in a desperately awful situation OP. You have high income and high equity.

I think you can cut down even more on:
Utility bills
phones
entertainment
groceries
And use the extra cash to pay off some debt each month.

Could you cut down to one car?

I would absolutely explore increasing your mortgage to pay off some/all of the unsecured debt.

Chin up, you can get rid of this debt within five years.

Op what did you buy to accrue the debt? Not a criticism - just trying to understand what you might be able to sell / cut back on.