£100,000 Debt "club"

Debtomaniak

Hi there,

Special thanks to H4nym, for being so helpful on reconstraction of my hubby's CV. We had so many phone calls from agents since updating CV on websites yesterday.

As I was typing this message, hubby called to tell me that he has got an interview with one of the banks in the City next week. I am so happy. I know it is only an interview, but what a relief to get so much responce from agents again.

Huge thanks to H4nym and everyone else who responded and helped.

h4nym

Hiya!

Thanks for your kind words... it's been a real pleasure helping out - it is so weird that our situations were/are so similar... although I had higher unsecured debts - deep into 6 figures! Now not far into five!

Anyway - the next stage is even more difficult... right now you don't really have a choice - when the money starts rolling in, you will. Please please please focus on paying back debt. If you're spending any more than £500 per month on yourselves, then you need to focus harder!

We were fortunate - my wife and I were absolutely 110% dedicated to paying off our debts - one by one, most expensive first.

I set up a spreadsheet so my good lady could see exactly how much to pay who the day that I got paid. Happy to send it to you (or anyone that asks!) to help.

But listen, we're jumping the gun a little... now remember that an interview is a sales opportunity! Remember that if he's made it to interview, it's pure personality that's gonna land it - the CV will be at least as strong as everyone else's, so don't expect to simply reheat it! You don't get to run a restaurant without being reasonably affable... make sure that comes through! No - make sure that absolutely SHINES through! Still - if the phone calls are coming, then the interviews will surely follow.

Make sure that he speaks with the agent before you send the CV - and don't take no for an answer - I honestly can't recall an agent ever phoning me after sending in my CV speculatively... but I'm struggling to recall my CV NOT being presented to the client after having had a chat with them...

Make sure it's at least a 6-monther: make sure it takes you through Christmas and beyond into at least February - makes it much easier when you're next looking for everyone to be at their desks and sober!

Anyway- probably boring everyone now... but we're in some danger of needing to shout for at least 2 cheers... ok - maybe one cheer for now, second when he starts, and 3rd when you pay off your first debt!

Please stay focussed!

All the best

H

domesticgoddess

Justindebt wrote:

Debtomaniak......are you my wife?

:rotfl:

100K and change, that's me....kept it from her for two years but she found out a few weeks ago.

I am having great difficulty with my mouse here, so I can't really type much.

We have a 60K mortgage on a house worth approx 350K, so our choice is selling the house or taking an extra amount on the mortgage.

Good luck to you.

are you my husband?

if so, get on with sorting out your SOA or else :rotfl:

domesticgoddess

just wanted to wish you all the best it's been a great thread/journey one which I'll shortly be taking with my OH

Debtomaniak

Thanks H4nym,

I will pass the message on to my hubby. Your support is very much appreciated.

Debtomaniak

domesticgoddess wrote:

just wanted to wish you all the best it's been a great thread/journey one which I'll shortly be taking with my OH

Hi Domesticgoddess,
if you feel like it keep us posted, it is always great to hear people's succsess stories, which I am sure yours will be soon.
Hard to beleive that just shortly, my hubby would not even want me to think about the debt, never mind talk about it. And now we are decorating our house to sell and looking forward to be DEBTFREE.
Wish you all the very best and do "pop in" to say hi.

Debtomaniak

Can you beleive it?!!! Inland revenue sent a letter to my H this morning to say that thay are not going to pay him job seekers allowance, because they looked at his payments for 2004/05 and discovered that he underpaid his Class 1 NI!!!!! Of course he underpaid it, he was out of work for a while! What about all them years that he been working, since 16 years of age and paying? I am so mad right now... It is unbelievable. Grhhhh. I could bite someone right now!!! (kidding) I am not mad really, onle a little.

Debtomaniak

Cannot find someones message with a link to a spreadsheet, to keep track of cr.cards, can anyone point me into the right direction please?

Thank you much.

Debtomaniak

Just was thinking loud again, as I do, if our house gone up in value by £155K in the last 5 years (bought for £175K, valued now at £330K), is it the right decission to sell? OK, debt probably went up by £20-30K in interest, but in comparisment with £155K it is nothing really. Am I fooling myself or does it make sence to hold on to the house for a bit longer and hopefully soon hubby will get a job?

Thank you

lynzpower

Is it the right idea to sell? Well it all depends on a) how much its costing you to live there b) how much you would SAVE by paying off debt with that *equity*

Ive worked out that when I sell this flat, we will be saving about 400 per motnh, breaking down as a) rent cheaper than the mortgage, no service charges, no life cover, no buildings insurance etc. and also that as we will not be paying off debt with the equity ( as almost all my debt is now 0%) then there will be about 100-150 per month interest on it rolling in.