A large pile of mess to clear up HELP!!

stressed_mummy

A long story for stressed out mummy

i run a business which I have borrowed heavily on my credit cards to fund.

With the downturn & major staffing problems (with a list of going ons to run for pages) we have not been able to pay any sort of salary for months and in major arrears on everything.
We've been living on tax credits just to get by with 2 disabled children to look after as well.

House I have is in joint names and has some equity. The problem is that because of the children's education I cannot just sell up & move into a rented place as part of my divorce settlement almost 10 years ago the house was supposed to be for one child as he wont be able to work or look after himself for the rest of his life.

As it is I used their savings to pay for a staff salary.

I just dont know where to turn to

We've tried the cccs route who have told us to offer all our creditors £1.00 per month which is all we can reasonably afford on paper. Of course they are still taking their charges for not sending enough blah blah blah....

There is also the issue of 2 endowment policy which as part of the divorce settlement was to protect one child.

I have a meeting with the cab next week but wanted some ideas of what are the options we can take.

I've let everybody down that I care about yet the staff that I have had to deal with I have bailed them out on loads of things and had nothing in return.

I have come to the conclusion that to be in business you have to be agressive nasty horrible take people for a ride & take them for everything they've got and it seems all the good things I have done for others have left me to the point of no return .

All I want to do is just pull the duvet over my head and not go on....

nervousmother

You dont have to be nasty or horrible in business :-(

I am glad you have the appointment with CAB as they will be able to give you the advice you need.
Was the 'deal' on the property done through the courts? if it is it may be safe during a BR.

Sorry your feeling the way you are, there is a way out and things will work out in the end.

dalip

Oh bless i know that feeling too. Private message debtdoctor he works for cab and might be able to help in the meantime.

I can not offer any miracle solution but we can offer help and support emotionally.Just off loading helps and we don't mind one bit...we have all done it at some point or another.

Keep posting, we are here girl(i hope lol)and someone will be able to offer some sort of help weher it be emotional,practicle or whatever. Thats what this forum is all about.Dx

stressed_mummy

It wouldn't be so bad if we just had home to deal with but with the business as well I have never had so many domestics with hubby and of course both children cannot understand why we are so stressed tired no money for anything....

If only DLA would get a move on with the claim its only been 2 months!!

I'm sure there must be a rainbow somewhere but can I see it....

Employing staff not able to do the job they have been paid to do and treating them so well I must have the word MUG tattoed on my forehead

Hindsight is a wonderful thing if only I'd known this time last year things would be different.

its not like I went on a mad spending spree for my own gain Its like the tables have turned the staff that had nothing have had plenty and drainned me & my little family dry.

dalip

Hey that should be the motto for this forum


HINDSIGHT IS A WONDERFUL THING

We all wished we had that here;)

the-muffin-man

I have come to the conclusion that to be in business you have to be agressive nasty horrible take people for a ride

No you don't - I've been in business (well until my co. went under in January!!), and the nasty aggresive types are in the minority. The vast majority of people I've met are decent and honest - they can be very driven though!!

Is it possible to downsize your business and lose the staff? Possibly by outsourcing some of the things you do in-house?

And one last thing - don't be afraid (easy to say I know!) to close the doors on a failing business - I was suicidal just after Christmas at the thought of losing our family business, but 7 months on I'm in a much better job, and life hasn't been as good for years.

tigerfeet2006

Can I suggest that you ring Business Debtline (no. and link in my sig.) They will talk you through your situation aand help you over the phone with no waiting for an appointment.

stressed_mummy

We do have a good business model. by getting rid of the cancer (ie bad staff am I allowed to say that!!!)
that was half the battle done its just a shame they have done so much damage & still causing problems even now !!

I know Hubby & I can turn this around its just going to take time something that our own creditors seem unable to give us.

The staff we have now are wonderful & we are so lucky to have found them that is part of the key to turning things around.

just wish things would stop breaking!!

future_millionaire

hi can i just say
i have been in the same situation as you i employed many people and looked after them well, even when the business was in trouble the best thing to have done would have been to sack them all but i wanted to look after them so borrowed lots of money to keep going, then when i did loose the business and it went bust everyone hated me for letting them go even though it was their fault through poor work.
so i was left with mounting debts and they went off to other jobs unaffected , so i say yes you do have to be unfeeling in business or you get sh-t on
95% of people will stab you in the back if you let them.