Relocation or stay and Fight?

Fire_Fox

Nickeenoo wrote: »

Unfortunately, because this is not the first time hubby has been out of work we are playing catch up and have quite a few arrears and this is the only time we have received any help from the job centre. So I do believe benefits would be sufficient for some people to live. We just have too many catch ups to pay.

We dont have the space for a lodger, but I'm definitely going to look at the debt free wannabe thread, thank you for the tip.

But thanks for the reply.

If you are on a DMP any arrears should be part of that ... Are you with one of the free debt charities, CCCS or Payplan? Have you had your DMP adjusted to take account of the job loss?

Morglin

I would contact Shelter and ask for some advice before you do anything.

http://england.shelter.org.uk/

The fact that you have a poor credit rating at the moment, and that you are on benefits may cause problems with trying to rent a place via a private landlord.

I also believe that most councils will help people with children, but only if they are repossessed and evicted - not if they sell up voluntarily.

Lin

poppysarah

Nickeenoo wrote: »

My dad thinks we would be silly to sell up and be left with nothing and stand the risk of not getting back on the property ladder at a later date.

Is it so bad to rent a property? .

Older people often think that "renting is dead money" but don't accept that IO mortgage is actually worse than renting as you have to pay for repairs too.

Renting can be brilliant. Do plenty of research before signing up.

The property ladder is completely broken at the moment so don't worry about climbing on to it.

Nickeenoo

Thank you for these great word of advice and opinions. It has really helped to get a non biased view from people.

We have 2 more EAs coming round today to value our home and much to my dad's disapproval, we will put our house on the market.

I am worried that we will be giving up the one thing we have of any value - BUT we dont own it and therefore I accept that we could lose it all and be left with nothing. At least by selling we can wipe the slate clean and work on rebuilding our credit rating and our marriage because it really does take its toll!!!

Thanks again everyone.

p.s. Since I started typing this, I have talked to my dad and he actually didnt disapprove as much as I thought he would at the prospect of me moving away and selling the house!!!

poppysarah

Keep us informed of how you get on with things.

puddy

i cant see that theres any decision to make, its obvious, sell up, why would you sacrifice your solvency just to keep a dead 'asset' (its not really an asset as you have other debts, so its cancelled out)

its worth the peace of mind alone to get rid of the debts, start afresh and at least know with renting you will get benefits for the rent if you or partner are out of work

instruct that EA today!!!

Nickeenoo

This is so true and I think I am letting my heart rule my head! I'm so concerned about leaving friends and family and being alone in an area where I dont know anyone, but realistically that was the same when we moved to this house - and 3 yrs on I have a great group of friends and I still have my old friends who dont live near me.

By the end of today we will definitely need to make a decision on which agent to go with and get selling.

Thanks again.

ThrowingStonesAtYou

poppysarah wrote: »

Older people often think that "renting is dead money" but don't accept that IO mortgage is actually worse than renting as you have to pay for repairs too.

Renting can be brilliant. Do plenty of research before signing up.

The property ladder is completely broken at the moment so don't worry about climbing on to it.

I was going to say more or less the same thing. Older people predominantly have this preconception that the 'property ladder' is a lovely party with free money for all, because buying a house back in the day (when they were much cheaper) worked out very well for their generation - they don't understand the financial jeopardy that younger people/FTBs/people with little or no equity are put in, in order to bankroll this lovely party (which you are not part of). Your financial situation obviously sounds precarious so renting sounds like a viable option for you.

bmunky7

Has your husband started looking for work in the new area online or through agencies etc... so you can get an idea of how likely he is to get a job in a new location? No point in selling up moving away and then still struggling anyway.

tek-monkey

If you can't afford to stay where you are, it isn't exactly an option is it? I would sell everything I owned to get me back on a good footing, be it house, car or electrical goods. If you owe, you don't own.

However, thats just me. Each to their own.