Debt Free by 40 Debt Diary

robnye

oakdale_minx wrote: »

I expect she thinks I am desparate to stay in some way, but if only she knew what was waiting for her as soon as I escape!

sorry to be a little dim.......... but have i missed something?

are you going to 'tar n feather' her?
or write a tears/fears/highs n lows tellall.....?

or what.... go on tell us....

ZTD

robnye wrote: »

sorry to be a little dim.......... but have i missed something?

are you going to 'tar n feather' her?
or write a tears/fears/highs n lows tellall.....?

or what.... go on tell us....

Perhaps...wedgie?

oakdale_minx

robnye - I've decided I will definitely be going for constructive dismissal, bullying and possibly unfair dismissal - as soon as I go I will get things moving. My little parting gift to her......

I made some first tentative steps into looking at changing mortgage company yesterday and the news wasn't fantastic. I spoke to the Abbey (used to be with them before I moved) and they said that my AQA self-employed money can't be taken into account until I've done my first self-assessment, which won't be until the end of this year/early 2008.

On my salary, I make the multiples ok, but the loan means I don't. She said if my loan payment was £100 or so less then I would be ok.

Of course there is still the CCJ sitting on my record until May 2008 to add into the equation, but that is so old now - and paid off (and a small amount), I don't think that will be a huge problem.

The main thing for me is getting the rate down so I can switch back to repayment. I probably wouldn't save anything per month, but at least Iwould get off the interest only payments I'm making at the moment.

I phoned the loan company to get an updated balance and it is now under £18,000 - just!!!!

That means I have cleared £8,500 of my debt since last July.

I also asked how much it would chop off the loan if I paid 3,000 and she said it would take just under a year off - I think she said I would have 46 months left and at the moment I have 56 months left.

Verbatim

Hi there OM,

Haven't posted much lately so wanted to say hi and think you've done wonders in a short time. Hope the ditching of the stressful job will bring you peace and contentment.

dinkytwostep

:T :T :T
Hi OM
Well done on the letters to Cruella & HR. If you're going for the constructive dismissal option - why not ask the Union to request equally detailed notes from Cruella re your other colleagues (kept over the same time period!). I reckon she may have shot herself in the foot when she read out that list to HR - if you're the only person she has focused on then she won't have the same detail on anyone else - especially her 'favourite'.:A

If you're thinking of using your redundancy to clear your loan be careful. My ex-husband was made redundant from his job of 18years but was told by DHSS that he wouldn't be eligible for any jobseekers allowance as he had been given a lump sum on leaving work and that this was to 'keep' him for at least 6 months. He signed on anyway in order to keep his NI contributions up to date but used some of the money towards re-training.

My penny's worth is to put the money into a high interest account but one with a no penalty access. Treat it as you would your monthly pay until you have work elsewhere.... THEN make your decision re paying your loan.

...Your OH...mm...maybe you should remind him that once you have opted for redundancy he will have to give you monthly contributions towards the utilities bills, food, petrol .... etc as you won't be able to afford to keep you both. You have to stick to this one because you will NEED him to pay his way once there isn't a regular salary. (I'd love to see the expression on his face!!!!:rotfl: :rotfl: )

taka

Hi Oakdale_Minx :hello:

I spent hours reading the whole of this thread yesterday/today and I'm impressed (if somewhat tired.. up till 3am reading it)! Well done you... very inspirational! :j ... and have been thoroughly cheered up about my finances!

Pay day is tomorrow and that means I'll be able to finally pay off the last of my CC debts and (apart from the mortgage) will have no other debts (at least for a few days)! I was quite down about this as I just found out that the communal flat roof in my block of flats needs replaced so will have to find multiple thousands for my share just when I thought I could start saving and start doing up my rundown flat. :mad: Your diary has made me realise life can get in the way of your plans but you shouldn't give up!!

:T Thank you so much!!

Taka

oakdale_minx

cheers gang It does feel a bit weird sometimes when I read that people are reading my warblings and whinges all around the country!!

I've just phoned GMAC to see when my redemption period ends for my mortgage. It is the 13 May. They don't offer new deals to existing customers (the advert 'brand new customers only' springs to mind). However, the girl at GMAC said if I see a financial advisor, I can have a new deal with GMAC that way!! How bizarre is that!!

I might go into town on Saturday and make some general enquiries with a few banks or building societies. I don't want lots of searches done as it will show up on my report but I will do a bit of information gathering I think.

I did ask for a quote from an online mortgage advisor yesterday and it came back with Royal Bank of Scotland, trading as First Active. Fixed for 3 years, repayment and £20 a month less than I am paying on interest only with GMAC.

Only thing is, I don't know if I would have to produce the accounts for AQA. If I do, then I guess the quotation won't be valid and i'll have to apply without the AQA money.

peb

GMAC don't deal directly with the public as such; you can only get a mortgage with them via a Financial advisor which explains her postion. If I remember correctly the First Active is a self cert? in which case you will not have to produce your AQA accounts. It may be worth your while seeing an IFA in the meantime.

Good luck.

oakdale_minx

i've just had a look at the First Active site and given them a ring. They have said they need a minimum of 12 months self employed figures, so they probably won't be able to use them. I've had my AQA submitted as 'other income' so I will see what comes back - I think it may be the same line as the Abbey - I'm ok on the multiples and on the amount against the property value, but the loan payment pushes me outside their limits of what they can lend me.

Oh well, i'll see. It will only be 1 search on my report and I haven't had any for well over a year.

I did start to have stupid thoughts about changing mortgage companies and adding the loan in, but as I say that is a stupid thought.

beanielou

I dont actually see adding the loan on to the mortgage as a bad move as long as you can overpay.