People who should not be freelance

Kevicho

http://news.bbc.co.uk/1/hi/business/5118424.stm

Im desperately trying to find a email link or message leaving service to recommend this site!

Does anyone else do or feel the same?

Ive recommended MSE to at least 10 people to visit on the helpdesk were i work and even put bookmarks on their pc

scholt

"To make matters worse, in a chance phone call from my bank manager I told her I was pregnant and she immediately questioned whether this was the right time for me to be having a baby."

Thats really harsh

nearlyrich

Another victim of the "BTL and get rich quick myth" sadly for most people owning one property is a tall order, especially in London.

She doesn't own the properties they are mortgaged up to the hilt, if and when she goes back to fulltime work a large percentage of her income will be swallowed up in childcare fees.

I agree it's not the place of the bank manager to question her timing on having a baby if we all waited for the bank manager to approve reproduction the human race would quickly become extinct!

nrsql

http://news.bbc.co.uk/1/hi/business/5170278.stm

Lets see.
She decided to become freelance i.e. to run her own business.
Owns a buy to let property.
Has so many debts that she could not service them for more than a month without being paid. As a freelance IT consultant she should expect longer payment gaps than that even if she isn't out of work.
Refuses to sell the buy to let property even though it would release money to service the debts a bit longer.
Complains that she cannot get legal aid to sue her "former employer" for "sex discrimination" as she has too many assets.

earlier
To buy the restaurant, my husband and I had to re-mortgage the family home and my two small buy-to-let properties.

I also notice
"Kensington Mortgages"
This is a sub prime lender I believe and it implies that the debt problems didn't start suddenly.

I have sympathy for her making the mistake of becomming freelance but no sympathy for the situation she is in now.

I'm wondering how much of the truth is included in this debt diary. Presumably she is getting paid for it which shows a bit more sense than she has shown in her other financial dealings.

Get the feeling she hasn't yet really come to terms with her situation and doesn't seem to realise that a lot of her problems are of her own making.

jessicamb

Maybe she should come on here and post her SOA. I see what you mean - looks like she's struggling but hasnt had a full LBM yet.

Floss

She needs a slap in the face with a wet fish! Fancy thinking she was secure on a freelance contract!

Obviously selling the buy-to-let properties won't service the debts, as she is motgaged to the hilt on it. It would, however, repay the initial motgages on them, but not the re-mortgages "to buy the restaurant".

I wonder where the BBC found her....they should look on here for real debt diaries!

Emmzi

I'm freelance through force! I'd jump at permanent in a heart beat. It TERRIFIES me! Imagine mortaging everything to do it... I have goosebumps thinking of the sleepless nights!

nrsql

I've been freelance (IT) for a long time.
When I started I tried to keep enough money to survive for 6 months without being paid and only felt really comfortable with 2 years worth.

Certainly wouldn't have gone for large loans which I couldn't finance.
But then property was cheaper in those days and I'm pretty risk averse.

bikerqueen

I had to stop reading it cause she's too !!!!!!! annoying

MrsTinks

She needs a slap with something! "oh should I sell my buy to let property?" well love if you can't afford to pay your bills then DERRRRRR!!!!
"They're so unsympathetic because I can't pay them" geee you think??? Sorry but yes she has debts however NO she's got entirely the wrong atitude! Wake up and smell the coffee love!

nrsql

Just read the last entry.
Looks like she has repayment mortgages for the buy-to-lets and can't switch to interest as she can't afford the fees. Didn't she get any advice about going in to this when she started?

At least she has decided to sell one of the buy-to-lets now.

>> In IT, being out of work for more than six months can render one's skills nearly obsolete.
Makes me wonder what field she's in or whether she understands it.

>>The course I have chosen gives me a professional qualification. It has three levels, and I booked myself on a two-day basic skills - part of level one - in July. It's only £300.
>> But I am in for a shock. To do the second level course the cost is £2,500. I cannot afford it.

Still hasn't learnt much about planning has she?