£100,000 Debt "club"

BestFootForward_2

Hi DebtomaniakThe author of Jet-to-Let has recently issued a big "Do not Invest" about investing in Bulgaria. See https://www.bewarethesharks.comOn another note here are other options where you can sell your cottage, but still keep living there. Often there is also a "buy-back option". This means they will sell it back to you at after a set time frame (e.g. 5 years).It does depend on your circumstances, but with the right buyer it can defintely be a win-win situation.I have some personal experience with the above and am happy to talk through the pros and cons with you. (I have RSI so too much typing becomes painful).I have PM'ed you with my contact number.BFF

Debtomaniak

BestFootForward wrote:

Hi DebtomaniakThe author of Jet-to-Let has recently issued a big "Do not Invest" about investing in Bulgaria. See https://www.bewarethesharks.comOn another note here are other options where you can sell your cottage, but still keep living there. Often there is also a "buy-back option". This means they will sell it back to you at after a set time frame (e.g. 5 years).It does depend on your circumstances, but with the right buyer it can defintely be a win-win situation.I have some personal experience with the above and am happy to talk through the pros and cons with you. (I have RSI so too much typing becomes painful).I have PM'ed you with my contact number.BFF

Thank you so much for the info on Bulgaria investment, had a quick look, sounds interesting, going to read it properly and get my hubby to read it.
Thanks.

BestFootForward_2

Pleased to help. There are a number options regarding your home. I've PM'ed you with my number. Call me tonight if you like.Regards,BFF

Debtomaniak

BestFootForward wrote:

Pleased to help. There are a number options regarding your home. I've PM'ed you with my number. Call me tonight if you like.Regards,BFF

Thank you,
we have decided to sell and clear our debts, so I would not want to take any risky options. I do appreciate your help the info you gave me regarding Bulgarian properties investment really opened eyes to my hubby. Think I got the result. I am very careful with my finances and it did worry me when hubby started talking "investments" again :mad:, but after I gave him that article to read, that you gave link to, he has gone off the idea of buying property abroad. Result!:T
Thank you.

Emmzi

D,

give him a good slap!! Investments before you've even cleared your feet????

Seriously mate - you need to get an emergency fund together for yourself for when he next screws up the money - he ain't had his light bulb moment yet.. not by a long chalk!!!

I highly reccomend a solid week of beans on toast cos that's what you can afford at the moment.. nice vision of the fututre if he carries on with these flights of fancy. Home nice and secure with no mortgage...nice pension fund tucked away.. THEN he can have all the second homes he likes...

Well done for talking him out of it. You've got your work cut out for you I think!

Debtomaniak

Emmzi wrote:

D,

give him a good slap!! Investments before you've even cleared your feet????

Seriously mate - you need to get an emergency fund together for yourself for when he next screws up the money - he ain't had his light bulb moment yet.. not by a long chalk!!!

I highly reccomend a solid week of beans on toast cos that's what you can afford at the moment.. nice vision of the fututre if he carries on with these flights of fancy. Home nice and secure with no mortgage...nice pension fund tucked away.. THEN he can have all the second homes he likes...

Well done for talking him out of it. You've got your work cut out for you I think!

Hi Emzzi,
nice to hear from you. You are so right. I was worried sick, when he told me about investing. I thought "is it me or him"? Thought I was being silly or something. So glad I got link from BFF and gave that article to H to read, he is off it now. We are very much at our lowest food wise. Do not buy wine any more, realised we can not afford it. Got home last night and found nothing to cook dinner with... Have not had that since we got married, so was a bit back to the old days... Never mind, there are children in the world going to bad hungry, so we are lucky really. Think hubby and I have a long way to go yet. Thank you for responding to me.

BestFootForward_2

Sounds like hubby is desperately trying to figure out a quick way out of the mess, and worryingly, that he believes there is a quick and easy way out.Trouble is that there are a huge number of sharks out there who specialise in exploiting that. I come across these scumbags on a very regular basis.Someone was trying to flog properties in Panama last week. Major investment being pumped in due to plans to widen Canal etc etc. Two year waiting list to buy property. Great economy blah blah blah blah. On paper looks fantastic. Mate just came back from there, and told me that place is filled with high-rise apartments blocks, and they're empty!

BestFootForward_2

Debtomaniak wrote:

Thank you,
we have decided to sell and clear our debts, so I would not want to take any risky options.

Fair enough. Sounds like you hands are full with hubby, and adding other options may make it harder for you to manage him. I admire your determination, and your hubby is fortunate that he has you at his side right now.
Good luck and keep us up to date.BFF

Debtomaniak

BestFootForward wrote:

Fair enough. Sounds like you hands are full with hubby, and adding other options may make it harder for you to manage him. I admire your determination, and your hubby is fortunate that he has you at his side right now.
Good luck and keep us up to date.BFF

You are absolutely right. I just want us to get rid of the debt and start with a clean sleeve, mortgage free preferably. He has many ideas, so there is a lot for me to try to stop, his wild dreams. Not sure about him beeing fortunate having me by his side, lately I just feel like I am being a bit cruel and serious all the time, he will probably get tired of me soon. Perhaps he would have been better of with some reach mama. Only kidding.

Jay1b

MCBIRNIE25 wrote:

Hiya, my debts are nowhere near that level. Your hubby is in denial though, and drastic action will be required sooner rather than later.
I have a friend 210000 grand in debt, and his wife found out, mentioned divorce, he became like a man possessed.
Always here for support and advice, even though debts are nowhere near that huge.
Good Luck,
Mike.

For Richer or Poorer..... I'm guessing that wasnt in her vows then?