Got a predicament

WhatdoIdo_3

Hi Katiegizmo

Thank you for replying.

We spoke to the CAB about what would happen if we hadnt the keys back. They said that the house would probably be sold at Auction and then we could probably come to an arrangement over the shortfall and they would just class it as an unsecured loan. They also said we could go BR for the shortfall, but really wanted to avoid this.

Im not sure what the Autism charities could do, as we already get all the help that we can.

Its like someone once said your only in neg equity when you are trying to sell, but when you need to move it becomes a major problem.

My concern about moving on was that if we walk away will we have the security for our children, but we will never own this house, so will have nothing to pass on to them anyway. If I could go out to work it wouldnt be a problem we could probably stay where we are go onto a repayment, but I just cant do it, I am needed too much at home.

katiegizmo

i was thinking a charity might be able to find some kind of cheap accomodation to rent while you went through selling so you wouldnt have to do something drastic? or they might be able to put you in touch with someone who could help?

why not go and see your bank manager over the shortfall, talk in person and see if there was an affordable way to pay back the money. if you found somewhere cheap to buy you may be able to get rid of the monies owed sooner than you think.

WhatdoIdo_3

Hmm, I will have a look into that one, thanks katiegizmo

lukekelly_2

It sounds to me like financially the best option for you is to stay in your current house. The financial cost of being repossessed is going to be high from what you've said. You have to decide how much the difference in quality between schools is worth to you. Are the special-needs schools around you really that much worse? You could try one of them for a year and re-evaluate if it's not working for your son. Will the amount of time you're needed at home reduce when your son starts school? If that is the case can you muddle through till then and then find some part-time work?

WhatdoIdo_3

Hi Lukekelly

The special schools that are around are not autism specific and the Ofstead on this school is amazing (I dont mean academically).
My ds does go to school and I did have a job, first job I had within 2 weeks of working there I had to collect him 4 times and take him to A & E.
The other job I had I worked from home but mainly evenings but this also didnt work, as he is food phobic, takes longer to get him to eat, baths are a nightmare will only have one with me and again takes longer than normal, bedtimes are very stressful, not fair to put ths on hubby whilst I go off to work. This is not to mention the time it takes to help him with his homework, holding a pencil, letters etc.

lukekelly_2

In that case it sounds like you've got your mind made up and you're moving! One way to do it is to take the bank's offer to convert any shortfall into a two-year loan (which is too short a period for you) and then move that to a loan with a longer repayment period. Hopefully you'll be able to find a rented property in the right area for you which is cheap enough to allow you to repay that money over 5 or 10 years. Are there any carer's allowance or other forms of financial support from the state that you haven't fully investigated? I'd guess not, but there's always a chance. Good luck whatever you do. :-)

WhatdoIdo_3

Hi Lukekelly

Thanks, I know its a chicken and egg situation isnt it.

The only prob with the suggestion is can you get an unsecured loan for that amount?, would prob be about £20k, we couldnt have it as secured as nothing to secure it against.

LydiaJ

WhatdoIdo wrote: »

Hi Lukekelly

Thanks, I know its a chicken and egg situation isnt it.

The only prob with the suggestion is can you get an unsecured loan for that amount?, would prob be about £20k, we couldnt have it as secured as nothing to secure it against.

Sounds a horrible situation. So sorry you are in such a difficult position.

If you want information about loans and things, why not try posting your problem on the DFW (debt free wannabe) board? Introduce yourself as a debt free wanna-stay rather than wannabe, and ask for help. They're a lovely supportive bunch on there, and will have lots of ideas for you. After all, if you manage to get the unsecured loan somehow, then they'd be the best people to help you find ways to pay it off, so why not get their advice right from the start?

Good luck,
Lydia

ETA WhatdoIdo, since you're new around here, I'll explain how it works - it took me a while to realise when I first joined. If you look at the place where it says people's join date and post count, you'll see that it says how many times they've been thanked and in how many posts. People like getting thanked, and they like seeing their thanks score go up. So, if you find lukekelly's posts helpful, then click the little "Thanks" button at the bottom right corner of each post to contribute to his score. Then don't post a separate post just to say thanks; it clogs up the thread with extra posts. Think of it as good forum manners - it'll help you to fit in on the forums, DFW even more so than this one.

WhatdoIdo_3

Thanks LydiaJ off to do that now, thanks

kunekune

A few random thoughts.

1) If he gets into the school, you've got a good case for transport.
2) Have a look at the website for Not Waving But Drowning: they are a specialist support group for working parents of children with disabilities. If at some point you try working again, they have great information packs.
3) For help with statementing, visit Ipsea.org, they provide support if you have to appeal.
4) Are you really sure you are getting everything you're entitled to? I do know how difficult it is (we have a disabled child, and we both work), but negotiating the system is difficult and with autism you haven't been plugged into support networks from birth so could have missed something. The board on here, disability & dosh, will probably have some experts who can help.
5) And finally, do be very careful about walking away. You still need housing and that might leave you in the 'voluntarily homeless' category. Talk to Shelter before you do anything irrevocable.