We know where we're going......Almost!!

Sammy3008

Well after a couple of chats from a lovely man from the British Legion, we (Or I, my DH is waiting until the guy from the BL comes out and speaks to him face to face, which is what he's always wanted) know where we are at, and where we're heading!!
The guy from the BL, has advised us (obviously can't say to us we should stop paying) to stop paying the mortgage and DMP, and find a private rented property before going BR as we don't want to stop where we are now for reason's (bad area, children being affected etc)
So BR is on the cards for early on next year, as we have abit of money to live on until then, which BL have ok'd. BL did say we are sat on alot of debt, in total including mortgage is £154,000 then more on top, when we incur charges etc from NR.

I am speaking to the BL again on Monday, as need to ask a few more questions, but going to ask here aswell as I'm sure they will be answered

1) My DH may be made redundant (un-sure, will find out within the next 14 days) we are looking at BR end of Feb/March, would we be ok to live off this redundancy money?

2) How do I approach letting agents, do we view first, then speak about the future BR? Was told to put the let in my name, but we had a joint over-draft (which I will take on when the time comes) and we've both defaulted on this, so not sure I'll pass the credit check.

We're going to pay Dec's mortgage and DMP then as of January !!!!!! them
I feel relieved, its just (again) my DH who knows BR is the answer, but wants the face to face chat to be 100% sure.

Angiepange

Hi Sam

Glad to hear your news and that you are closer to a solution.

Sorry not emailed you in a while just been flat out with college and CAB. Hope you are all ok.

Nice to hear BL have been a real help to you, we found them fantastic to deal with.

Really hope redundancy wont happen for your DH. But if it does Im here for support, as you know my DH was made redundant last xmas and for us it was devastating at the time.

Cant give much advice on the renting side of things as still trying to hold onto the house pending outcome of MRS scheme but I do know BL may help financially depending on your situation so probably worth a chat to them too?

Take care for now and will be in touch soon

Angie x

shazbo

we are now renting, but we did it very quickly before BR and moved just after. we have not mentioned anything to the landlord but it hasnt come out so not to worry.

i trawled through rightmove for a place and we had no problem with the credit check but then we had only just stopped paying things, i am not sure how you will get on if you havent paid anything for a couple of months. there is nothing to stop you looking now though and going through the credit check by the end of january then you should be fine, it can take weeks from finding somewhere before you move in so i would just go for it.

good luck

alastairq

As shazbo says.....planning needs to be complete...once one has decided to end it all, financially, that is......it's time to think of the whole picture.......

If house is owned, is it to go/be sold?...if intending to continue paying, then ok


if not, then before everything gets binned, rent, change bank accounts, then start the process of stopping the debt.

I notice so many people on here deperately trying a King Canute, trying to hold back the tide of debt.

they literally blunder in BR, trying to sort things out just as they occur.


One knows when enough is enough, when one's payments to creditors don't leave enough to live on.

THAT is the time to start planning....not when the phone calls are pouring in!

Sammy3008

Angiepange wrote: »

Hi Sam

Glad to hear your news and that you are closer to a solution.

Sorry not emailed you in a while just been flat out with college and CAB. Hope you are all ok.

Nice to hear BL have been a real help to you, we found them fantastic to deal with.

Really hope redundancy wont happen for your DH. But if it does Im here for support, as you know my DH was made redundant last xmas and for us it was devastating at the time.

Cant give much advice on the renting side of things as still trying to hold onto the house pending outcome of MRS scheme but I do know BL may help financially depending on your situation so probably worth a chat to them too?

Take care for now and will be in touch soon

Angie x

Hi Angie, glad to hear your well
The BL have been fantastic, just waiting to hear what's happening to DH job, and then going to get back in touch with BL, he will then come out and see us, and we'll go from there.
Obviously he couldn't say 'yes you must go BR' but what he did advise was BR would most likely be the best option for DH.
We don't want to keep the house now, want out of the area, so he's advised us to stop paying the mortgage, DMP etc, and find a rented property, so am scrawling the internet trying to find somewhere in a nice area, that will except a family of 4 and a dog, its not easy, lol.
Hope to speak soon. Take care.

Sam. x

shazbo wrote: »

we are now renting, but we did it very quickly before BR and moved just after. we have not mentioned anything to the landlord but it hasnt come out so not to worry.

i trawled through rightmove for a place and we had no problem with the credit check but then we had only just stopped paying things, i am not sure how you will get on if you havent paid anything for a couple of months. there is nothing to stop you looking now though and going through the credit check by the end of january then you should be fine, it can take weeks from finding somewhere before you move in so i would just go for it.

good luck

I have contacted a couple of letting agents, and told them we are repossessing our house, and early next year my DH will be going BR. I was worried if I didn't mention it, and there was a clause or something in the contract then we'd be in a mess.
Not sure we would pass the credit checks because we have already defaulted, so will this show on the check?
Think if we don't pass it we need to get a guarantor and pay so much rent up front.

alastairq wrote: »

As shazbo says.....planning needs to be complete...once one has decided to end it all, financially, that is......it's time to think of the whole picture.......

If house is owned, is it to go/be sold?...if intending to continue paying, then ok


if not, then before everything gets binned, rent, change bank accounts, then start the process of stopping the debt.

I notice so many people on here deperately trying a King Canute, trying to hold back the tide of debt.

they literally blunder in BR, trying to sort things out just as they occur.


One knows when enough is enough, when one's payments to creditors don't leave enough to live on.

THAT is the time to start planning....not when the phone calls are pouring in!

We are going to pay Decembers mortgage, and DMP, then as of January we will stop paying everything.
The house we are leaving to be repossessed, we're in negative equity here too.
We've believed payments to the DMP has been to much in the past few months, it will take 44 years to pay off should we continue with that, and we don't have enough surplus income for an IVA either, so BR is looking the best way for us (plus DH could be out of a job soon too)

Not sure if DH gets made redundant how we get help with rent etc, I know the BL will help with the bond/rent, but not sure how much/how long for etc, but we'll cross that bridge when we get there