Its so unfair why wont someone help?

zcaprd7

Not seen anyone else suggest it...

I think the best thing for you to do is re-finance your mortage (preferably onto a fixed or capped rate).

At the same time release some of the capital in your house, just enough to clear all your other debts.

It seems strange that you are happy paying your mortage yet don't have enough to live on? Its almost like saving when you have a debt.

Given that interest rates are at generational lows (and house prices at highs) you maybe able to reduce your monthly payments even though your total amount to repay stays the same - you will be taking out some of your capital appreciation.

Before I get jumped on, this won't solve your current budget problem, you have to do that yourself, however if you transfer all your current debts onto a nice low mortgage rate you will get some breathing space.

Tim_L

I think that if you read back through the thread this was more or less ruled out by the current mortgage arrears, which probably won't make changing provider easy.

Definitely one for the Mortgages board though.

Andrea

Hi Heddwen

Just had this thought.  Are there any gyms in your area?  

It might sound strange but the David Lloyd in my area has a valet service next to it.  Members can get their cars valeted while they're exercising.

It might be worth you contacting your local gyms.  :)

Heddwen_2

AMILLIONDOLLARS - Well thats where your WRONG!

Sorry but I found that an offensive and hurtful comment. My husband and I are respected and admired by our few friends and family who have shared in our highs and lows these past few years. We are in contrast the sort of people who keep themselves to themselves.


bernardh - unfortunately I am too skint to afford to buy one at the moment, but a good thought for when I can thanks for the idea, have fun with yours! Quick afterthought how do I transport my cleaning stuff about on this transport? Cant see where a trailer would go and the parcel box isnt big enough!

Timli - thanks for pointing that out again. It seems some arnt reading the original posting clearly enough! Although in my state of mind perhaps it wasnt clear enough?



Andrea - Yes we did think about this. Didnt I already mention that these car parks need a special permit costing more money per anum than its worth? Council car parks and supermarkets are banned in our area, but we do the remaining few private and industrial estates accessible. Thanks for the idea though.

Have to go to the CAB tomorrow (Tuesday) as I had to clean cars and deliver leaflets today. And before anyone tells me stopping the repossesion should be most important priority - Yes I know but so is cashflow and letting customers down!

Thanks to everyone as usual.

Keep you posted.

zcaprd7

Alright - borrow some money, pay off the arrears, refinance the mortgage, pay back the money.

lisyloo

I can see 2 problems with that.

Firstly, borrowing the money will be tricky from the current situation. It's easy to borrow money when you don't really need it, but not that simple when you are in trouble.

Secondly - just paying off the arrears will not simply wipe out the problem.
Any credit problems stay on your credit record for 6 years.

AMILLIONDOLLARS

I was just pointing out that its you who has the commitment towards the business, you who set it up (because it was your husband's wish) and its you who keeps it going and its you who wishes that he was totally committed to it Where is the commitment from him, his imput, from your statement only 10%. So how can you, use this business to pay off your debts? The answer, you can't as you have already listed the reasons why not.

So why is your husband determine to hold onto something that he is not giving 101% to?. Respect is all very well, but you can't take it to the bank

Tim_L

Do be careful not to rush to judgement here, AMD, (I say this with some embarrasment having done it myself earlier in the thread :-[).

We don't know the full situation, and there's a natural tendancy to look at this sort of posting as somewhere between soap opera and Jerry Springer style debates. Whereas they're actually very serious issues in two people's real life - perhaps the most serious problems they have ever faced in their relationship. So perhaps best to leave it up to them to work out where blame (if any) lies?

AMILLIONDOLLARS

Timli

I took the time this morning to re-read Heddwen first posting to this website where she gave us an outline to her problems.

1. Her huband works 3-4 nights a week, income £400 per month

2. They have an o/d of £900 which is twice the hubands earnings

3. The husband is further spending madly on his Capital One Card, limit £800

4. £2,000 on mortage arrears, only half paid last month and nothing this month.

5. He recently changed job working less hours, income increased slightly, which meant less working tax credit at £95.

6. Hewden has no income but is trying to set up another business (but in the meantime is trying to find work)

On the basis of the information given, this is my summary.

On an income for roughly £495 plus whatever they rake in from the business(?) who is going to loan them any more money. The business has to take a back seat and the husband needs to find a FULL TIME JOB. I have observed that we are giving her ideas for find employment (which is not bad thing), and its seems that she has exhusted these avenues. But we all seem reluctant to suggest the obvious solution that hubby find full time employment, why. Its not judgemental its the obvious solution

Car valeting are two a penny now a days, there is even one in my local Sainsburys, the garage down the bottom of my road, my local kwik fit centre. It won't make them millionnaires overnight

Common sense suggests that you re-group and come back again. Be realistic. Heddwen also suggested that they want to rent their house out. This may not bring in the money and or tenant they expect, the market is flooded with buy to lets and rental income had fallen, it is a tough market to be in at the moment

A FULL TIME JOB will keep the wolves from the front door

Fran

Hi


We run a small business and have done since 2001 which brings in an unsteady income especially in Winter as it is car valeting.

My husband also works his socks off doing a evening job as a security/doorman about 3 - 4 nights a week.

Unless I'm misreading this, her husband is already working full time.