The fun has started! RELENTLESS, What do i say?

fiveyearplan

Hi hitchens. What are you frightened of? BR isn't for everyone but I can tell you I was more frightened of the creditors hounding me night and day and seeing BR as the only way out. I don't know how long my health, marriage and sanity would have lasted had I not take positive action. I didn't feel the immediate relief that a lot of people do because my husband has some debt (nothing compared to mine!) and we are dealing with that. On top of that our fixed rate on our mortgage came to an end last month and the payments have shot up by £600 per month. Saying that I'm glad all the business debt was in my name as I do think it is easier when one partner is not bankrupt - not that his credit is any good but it means if we sell our house hopefully we will still have some profit!

Ask anything you're unsure of and see if we can put your mind at rest.

hitchins

fiveyearplan wrote: »

Hi hitchens. What are you frightened of? BR isn't for everyone but I can tell you I was more frightened of the creditors hounding me night and day and seeing BR as the only way out. I don't know how long my health, marriage and sanity would have lasted had I not take positive action. I didn't feel the immediate relief that a lot of people do because my husband has some debt (nothing compared to mine!) and we are dealing with that. On top of that our fixed rate on our mortgage came to an end last month and the payments have shot up by £600 per month. Saying that I'm glad all the business debt was in my name as I do think it is easier when one partner is not bankrupt - not that his credit is any good but it means if we sell our house hopefully we will still have some profit!

Ask anything you're unsure of and see if we can put your mind at rest.

Thank you. I mentioned on another thread that we are basically just sat waiting for an eviction (repossession) notice to come through, mortgage haven't started proceeding yet, but is only a matter of time. We are on a suspended repo order and ahve defaulted on that, my husband wage has dropped dramatically (brick layer) he has 2 week off at Christmas with no pay, plus it's winter, so there is absolutely no way we can claw back the house, and even if we did, it would be futile, we've been crippled with it now for too long, we're not living, just existing day to day.

So, we've decided to go, we will no doubt have a huge shortfall (another reason to look at the BR route) once repossessed after stupidly borrowing on mortgage when times were good! :rolleyes: We owe £102,000 which is inclusive of £3695 arrears, house prices round here are on the market for approx. £105,000. We have other debts totalling about £5,000 - £6,000. We are going to have to move in with my mother in law as we cannot even afford to rent, it's been am upsetting time as I have a 1 year old, and as a mother I feel like I'm failing her, but like my OH said, it's better for her that she has happy parents, not parents who are bickering and stressing over every ring of the phone.

I just worry that when I meet the OR and he trails though our finances he'll basically go "it's your own fault", so many reckless financial decisions (mainly the re-mortaging). When we first moved in 6 years ago our mortgage was £388 now it's a whopping £850 (paying an extra £100 towards arrears plus it's a sub prime lender) I could kick myself from here to kingdom come.

Really sorry for waffling on, my brain is haddled at the moment.

fiveyearplan

You're allowed to waffle! We all do. As for your daughter, your OH is right and she's too young to notice! As for Christmas coming she's also too young to notice that Santa may not be too generous this year. There will be plenty of time for you and your OH to get back on top of things and save up for your own home again (whether its rented or mortgaged) there are more important things in life. Debt makes you realise that. Just think how good it will be to not have to worry about that crippling mortgage. You're also lucky to have a mother in law generous enough to help out.

debtissoeasytogetinto

look out troll on board!