What has this downturn taught you (if anything)?

fc123

Wendy54 wrote: »

Just read some of the real downer posts. Gonna avoid those or I will be down there with them. Where do you find the sound bite post? I have looked but am obviously not looking in the right place.

Cheers, Wendy

If you read a thread and a poster puts soemthing down that you find amusing, intriguing or you just enjoy their writing style, click on their user name and a menu will come down. You can then view their other posts....which can lead you to other threads and boards.

For example, the last 2 pages of Felixstowe docks thread has some familiar banter on it.

If you have the time for a funny thread try the whole of this one

http://forums.moneysavingexpert.com/showthread.html?t=1377795

It gets added to every day or so.

Wendy54

Will take a look now. Thanks. Have a good evening. W

geoffky

Its taught me that even when things are staring people in the face a lot of people still find solace in denial....

geoffky

Wendy54 wrote: »

This is my first ever post.

I have learned that looking on this site, there are a lot of people with a great sense of humour even through difficult times. I love the theme of appreciation and also Ladbrokes for Middle Classes. It did make me chuckle.

Perhaps you can help. I was injured in a car accident exactly a year ago on 4th February when an uninsured, unlicensed driver hit my friend's car from behind. We were carted off to hospital but she was allowed to get a taxi from Winchester to London which she left without paying to disappear never to be seen since. My head injury means I have not been able to work or deal with paperwork properly and am just getting to grips with some things. About 19 years ago I took out an income protection plan when I was a supply teacher. I have been lucky enough never have claimed against it. I rang just before Christmas to be told that I had been registered as a housewife only and that would have to be virtually bedridden to be able to claim. They also said that I might be able to claim for being missold. I did tell them that I had been advised to get away to convalesce and would not be around until Christmas time. I do not cope with stress well and was freaked out by the increasingly terse messages left by some medical agency who wanted to come round and examine me. It has really upset me as they have written threateningly about having to do things by a certain date or else, or else what? I am not likely to get anything so why should I get grilled by some aggressive individual in my home? Then the seller's have sent letters saying that I must fill in forms about my complaint. I have not asked to make a complaint yet as I am still pretty fragile emotionally and stress brings on my physical symptoms pretty swiftly.
I feel that I am being bullied but I do need to sort finances out because I have not been back to work and my savings are running out. I know I should do something but have no idea where to start to ask for hel because I am not strong enough to yet to do it alone. The whole situation is really frustrating because I used to be the person that helped others get things sorted and yet I cannot seen to work out how to help myself.
Any advice, would be so, so welcome. Hope you are warm and snug away from the snow!

YOU NEED LEGAL HELP...LOOK FOR SPECIALIST LEGAL HELP NOT AMBULANCE CHASERS...

fc123

geoffky wrote: »

YOU NEED LEGAL HELP...LOOK FOR SPECIALIST LEGAL HELP NOT AMBULANCE CHASERS...

Which board would be best for Wendy?
Free genuine legal advice...anyone got a ,link? Hopefully, NDG will see the post and may be able offer advice.
Wendy, NDG knows about law.

geoffky

SOMEONE LIKE THOMPSONS SOLICITORS IN MANCHESTER THEY ARE MEANT TO BE ONE OF THE BEST..
http://www.thompsons.law.co.uk/
THEY HAVE PEOPLE WHO CAN COME AND VISIT YOU..

[Deleted User]

The recession / credit crunch / economic downturn - call it whatever you want depending on what's affecting you at the moment - has taught me a number of things. And I'm only 25…

1. Debt is bad. I used to think manageable debt was fine until things (of a global magnitude) went the way of the pear. I’m now trying to become recession proof. The quicker I shift my debt the safer I'll feel if I lose my job and I can't get another so well paid. Also almost always use savings to pay off debt where possible.

2. Savings are good. I used to read dozens of times emergency funds of between 1 - 3 months wages were a good idea. Never more have I started to think, wait a minute, that's actually a pretty good suggestion!

3. Live a little. Sure point 2 say’s save but don’t become a slave to saving, scrimping, overpaying mortgage, when you can still have fun – in moderation of course

4. Probably the most important for me - It looks like I was born at a very good time indeed. 5 years earlier and I could have easily had a 100% mortgage, in negative equatity (yes it wouldn't affect me unless I needed to sell), and really struggling to cope :eek:. There’s a high chance I wouldn’t have really known about the past house price crashes as it’s only when you start to live through one you fully appreciate what’s happening. Well a lot more than a silly line on a meaningless graph!

As it stands I'm quietly paying off my debt, (party time hopefully in July), renting and contently watching the housing market. I've learnt so much about previous recessions and house price slumps from here and other sites to hopefully start to think about what I'm doing and where I’m going in life.

olly300

geoffky wrote: »

SOMEONE LIKE THOMPSONS SOLICITORS IN MANCHESTER THEY ARE MEANT TO BE ONE OF THE BEST..
http://www.thompsons.law.co.uk/
THEY HAVE PEOPLE WHO CAN COME AND VISIT YOU..

Instead of paying for legal advice first the OP should see if there are any free options she can use.

The CAB offers legal help.

ailuro2

I always knew debt was not a good thing to have.

I always knew we need to buy things made in the U.K. for manufacturing not to go belly up.

I always knew hard working folk would muddle through while scroungers would have it given to them for the asking.

I always knew money went to money.

What I don't know is how long we can carry on this cycle of lending ridiculous sums to people who can't afford it for houses that are overpriced, inevitably followed by the market crashing. Shouldn't something be done to ban 5x income mortgaes, 130% lending LTVs etc? Shouldn't there be affordable housing for rent so people don't feel the need to rush onto the property ladder?

olly300

ailuro2 wrote: »

What I don't know is how long we can carry on this cycle of lending ridiculous sums to people who can't afford it for houses that are overpriced, inevitably followed by the market crashing. Shouldn't something be done to ban 5x income mortgaes, 130% lending LTVs etc? Shouldn't there be affordable housing for rent so people don't feel the need to rush onto the property ladder?

There is nothing wrong with 5x income mortgages however they should have never been offered to people who are not on high incomes.

The 130% LTV mortgages were offered according to other posters on this board at the end of the last recession so people could move house. I personally talking to older people I know haven't found anyone who took one. Instead they waited until their property was out of negative equity.

And I agree there should be more social housing but then the RTB was a political move to get more Tory voters, and Nu Labour were too stupid to stop the damage being continued when they came into power.

Oh and this recession has taught me that talking to people particularly those who are older to get a historical perspective on things is always a good idea.