Redundancy and paying your mortgage

Frags

Hi Guys,

I have just ben made redundant for the second time in a year, lightning never strikes twice eh!

Last time wasnt too bad as i was told 4 weeks prior to my 4 weeks notice that i was potentially up for redundancy, i got 4 weeks pay plus some holiday i was entitled to plus a small pay off as i had been with them 3 years.

This time i have been with the company less than a year, been given a weeks notice and here i am 3 weeks before Xmas with no income.

I am single, 25 and have a mortgage on my own, i have applied for countless jobs, been to the job centre (reluctantly) joined up with 6 Recruitment agencies. I have a few jobs in the pipe line but cant seem to find a temp job to see me through to the new year for love or money.

I am apparently entitled to my job seakers allowance of a whole.......wait for it........£64 a week and my national insurance is paid for but because i am a home owner nobody seems particularly forthcoming in giving me advice on how my mortgage is paid for with no source of income.

Does anyone have any hints, tips or advice for me, to say i am at my wits end is an understatement.

Thanks in advance

jazzyman01

Sorry to hear about your double whammy. I was walking round town near me today and there are quite a few places advertising for temporary cover - obviously may not be the same for you.

If it does look like you are going to be unemployed for a while, the obvious thing is to go through your direct debits and see which ones you can eliminate. Then talk to your creditors, tell them that you are trying and see if you can work out a plan so that any payments can be deffered for a while without any major impact on you or your credit rating.
When I was redundant we managed to get agreement for our mortgage to go on interest payments only for a while. Made a big difference.
As well as agencies, prepare a CV and shlepp it round your area. You seem to have a great attitude so hopefully you will not be unemployed for long, good luck!

clarejep

Do you have mortgage payment protection insurance? If so find out about making a claim, if you don't have savings over £16k find out about housing benefit for council tax and talk to your mortgage lender asap.