Selling up to become debt free?

jude47

Hi Browned
You sound so much more positive today - that's great! Without going into detail, I work in a sector linked to equity release, and I have to say that it isn't suitable for that many people. I know that CCCS (links all over this site) do offer equity release in some cases, and don't charge fees, so it might be worth talking to them about it before an IFA? It commits you to nothing and their advisers are salaried, not on commission, so they've nothing to gain by recommending something that isn't right for you.
PM me if you want more info, but keep posting and let us know how you get on.

[Deleted User]

Think it through carefully but do what makes you happy. Life is short.

brownedoff_2

Hi Everyone..

Yep, its been a positive day! I’ve been so busy that I’ve not had time to dwell on the negative side of things, which is good. I’ve had a good day pain wise and have made a start on clearing out the spare room. I’m surrounded by bags and boxes that need to go either on Ebay or to the Charity Shop.

The equity release schemes do seem to be a bit of a minefield and need careful consideration so I’ll look into the CCCS, at least I can be assured that they are completely unbiased, so thanks for that.

I’ve thread going on here regarding the letting of the room which has proved really helpful: https://forums.moneysavingexpert.com/discussion/3170436 for anyone that’s interested.

There’s a DLA form in the post for me, I could have done it online but I wanted to take it with me to the CAB for advice in filling it out. I tried phoning them for an appointment, but lost the will to live after hanging on for ages at 5p a minute, so on Friday I’ll go there personally, it’ll probably be cheaper than making another phone call too.

A while back the CAB suggested that I move in with family and rent out, but as pointed out that opens up a whole new can of worms. Besides my son has his own family and no spare room, daughter is a single mum living with her Dad (My ex) and his partner and although it’s a huge house I cant see that going down well somehow lol.. As much as I love my mum I just couldn’t live with her 24/7 and she would probably say the same.
I know my circumstances are not my own fault, but it is my problem and being fiercely independent I will eventually sort it out myself along with the support and advice from here for which I’m eternally grateful. I wish I’d come on here ages ago now… a problem shared as they say.

For now I’m going to put my feet up and open a bottle of red that I was given on Mothers Day.. I feel I deserve it :A

firesidemaid

Just wanted to say hi!

well done for posting and putting up with the Benefits Agency carp for so long.

Surely, there has to be a time limit to what they are doing - i think it is disgraceful.

If you are feeling more positive now, perhaps you could write a letter and copy it a zillion times and send it to all concerned once a week, every week until you get your money sorted?

Take care for now x

GeorgieFTB

Hi Browned

I'm so glad you are sounding much more positive, I haven't posted because I don't have any ideas. There seems to be a minefield of options open to you, good luck.

Gx

de1amo

My parents bought into a big house with my eldest sister--they now live in a self contained annex within the 'family'-the status quo has been kept for the past 10 years and it works for both parties!--my parents know there is always someone at hand but they can live independantly by just closing (and locking) the adjoining door!-maybe something you could explore with your son!--it has meant my share of inheritance goes to my sister but it is worth to know my parents are not isolated!

i am curious about this cccs scheme but i sense i am too young at 48--what age does it start?

jude47

Hi BrownedOff

Great to hear you're taking such a pro-active attitude to getting control of your situation. I think the feeling that everything is outside your control can be hardest to cope with until you start taking steps towards getting sorted out.
Just to clarify what little I know of equity release - it's not suitable for many people and no reputable company would generally recommend it as an option to someone under 60. I'd still say speak to CCCS though, as from what I've experienced, they're really helpful and they know their stuff.
Hope you enjoyed that bottle of red - and that your head isn't paying the price today!

brownedoff_2

Morning all..

Its nice to see people still taking an interest and that i haven't bored you all to tears by now. My head is quite clear as i only managed one glass before falling asleep lol.. I'm such a lightweight!

I'm still trying to stay positive and do at least one proactive thing each day towards getting out of this mess.

The charity shop have just been and collected the mountain of bags, so the room is looking clearer.

I'm just about to phone my previous utility supplier and offer them a minimum monthly payment off their bill.

The equity release scheme does seem to be geared towards older people, which i can understand as they want to get as quick a return as they can on their money. Hopefully I've still got quite a few years left in me yet! Also from what I've read, the younger you are the less the percentage of equity will be released. But I'll still take a good look at it before i discount it all together. I'll have a read up on the CCCS site too.

I don't have much time today as I'm off out visiting relatives for a few hours.. will be back later, have a good day every one x

CH27

brownedoff wrote: »

Morning all..

Its nice to see people still taking an interest and that i haven't bored you all to tears by now. My head is quite clear as i only managed one glass before falling asleep lol.. I'm such a lightweight!

I'm still trying to stay positive and do at least one proactive thing each day towards getting out of this mess.

The charity shop have just been and collected the mountain of bags, so the room is looking clearer.

I'm just about to phone my previous utility supplier and offer them a minimum monthly payment off their bill.

The equity release scheme does seem to be geared towards older people, which i can understand as they want to get as quick a return as they can on their money. Hopefully I've still got quite a few years left in me yet! Also from what I've read, the younger you are the less the percentage of equity will be released. But I'll still take a good look at it before i discount it all together. I'll have a read up on the CCCS site too.

I don't have much time today as I'm off out visiting relatives for a few hours.. will be back later, have a good day every one x

When you ring the Utility company make sure you tell them you are vulnerable/disabled.

de1amo

many years ago i worked for BT in the credit control dept and once a customer had left the company we would accept very low repayment rates--i dont know if it has changed in the years! if the customer was upfront and making an offer to clear the debt it usually got positive reaction-what else can you old company do--they cant cut you off! and setting the collection services on an ill person is worthy of news coverage!!