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GaryBC

fermi wrote: »

I would expect CAB to suggest CCCS over payplan.

I've had to delete the link to CAB as "as a new user you are not allowed to post with links"!!

Did you try them?

How much equity do you have in your home?

Well they didn't! We went with what CAB suggested and have no appetite for rocking the boat now that we have an element of stability in our lives!

Probably about £75k negative!

GaryBC

FuzzyCub wrote: »

So perhaps Martin's statement is true and there is a solution to your debt problems but you are not prepared to make the sacrifices required of this suitable solution. We can't have our cake and eat it it seems. Is there enough equity to sell and clear your debts? Have you tried the other charities for another opinion?

Yeah, well that's the whole point isn't it! We don't know the extent of the sacrifices we might have to make! There doesn't seem to exist any sort of model where we could run a variety of "what if" scenarios and pick the best one for us! As I say somewhere else in this thread, I'm not prepared to gamble my home (because that it what it is) on whether the judge's gout is playing up that day!

determined_new_ms

really sorry to hear things are so rough for you right now, I can only imagine how frustated/angry/sad/worried you are right now. How about putting a SOA up & see if ppl can help? Or as has been said try giving CCCS a call? Really thinking of u x

Triggles

Unfortunately, none of us can give any kind of thorough advice as you've already stated you're not willing to give us a general mock-up of your budget, debt, interest rates, balances and such (without personal details of course as it's to be anonymous). Obviously that is your prerogative, however, it means there's not much we as a group can suggest for you. Whether or not Martin can assist you further is his call.

I understand that you are stressed over this (debt is stressful for pretty much all of us!), but you seem a bit angry and have really challenged any attempts to offer even a modicum of assistance. Perhaps you need a bit of time to come to terms with your level of debt and get that actual lightbulb moment, so that you reach that point where you can investigate your options a bit more willingly.

GaryBC

determined_new_ms wrote: »

really sorry to hear things are so rough for you right now, I can only imagine how frustated/angry/sad/worried you are right now. How about putting a SOA up & see if ppl can help? Or as has been said try giving CCCS a call? Really thinking of u x

Sorry, don't know what the acronyms mean!

You've actually hit, inadvertently and completely innocently no doubt, on a part of the problem! The finance world is completely impenetrable to laymen and, the longer it stays like that, the longer people like me don't get advice in a digestible form!

ghostmadlittlemiss

GaryBC wrote: »

Sorry, don't know what the acronyms mean!

You've actually hit, inadvertently and completely innocently no doubt, on a part of the problem! The finance world is completely impenetrable to laymen and, the longer it stays like that, the longer people like me don't get advice in a digestible form!

Point taken. SOA stands for Statement of Affairs, which can be found here (just click on the blue word 'here'). And ppl is text message speak for 'people'. We try to avoid typing like like too much on this forum but sometimes it can slip through.
Kayleigh

fermi

GaryBC wrote: »

Probably about £75k negative!

Well, it's not up to the judge to decide what happens to your home in bankruptcy.

Instead it's the Official Receiver or trustee that deals with your interest in a property.

With whopping negative equity like that then they are obviously not going to want to sell the home to pay creditors.

It's possible that you could buy back your future interest for a nominal amount, or the property interest may revert to you if the property is not dealt with within 3 years.

I'm only guessing here, but is the reason CAB etc were uncertain about the home because the mortgage payments are very high? If these were deemed excessive for your area and needs then the OR may feel that you shouldn't be paying this when you could be living somewhere cheaper allowing more to be paid to your creditors?

determined_new_ms

ghostmadlittlemiss wrote: »

Point taken. SOA stands for Statement of Affairs, which can be found here (just click on the blue word 'here'). And ppl is text message speak for 'people'. We try to avoid typing like like too much on this forum but sometimes it can slip through.
Kayleigh

ha ha ha :rotfl:the subversive ppl (or lazy!) slip through the net. Sorry!

GaryBC

Triggles wrote: »

Unfortunately, none of us can give any kind of thorough advice as you've already stated you're not willing to give us a general mock-up of your budget, debt, interest rates, balances and such (without personal details of course as it's to be anonymous). Obviously that is your prerogative, however, it means there's not much we as a group can suggest for you. Whether or not Martin can assist you further is his call.

I understand that you are stressed over this (debt is stressful for pretty much all of us!), but you seem a bit angry and have really challenged any attempts to offer even a modicum of assistance. Perhaps you need a bit of time to come to terms with your level of debt and get that actual lightbulb moment, so that you reach that point where you can investigate your options a bit more willingly.

You're right! I do sometimes get stressed and angry about it! Sorry everybody!!! But too many people seem to just glibly to offer platitudes without, it seems, any real feeling for the effect it may have!

We've been in our debt management plan for three or four years now. I clearly remember phone discussions at the time when the person on the other end could not grasp the idea that we might not be totally enamoured of the notion of spending the remainder of our lives on a subsistence level income! Sympathetic advice was little more than, "that's your situation - tough". Angry? Moi? Can't think why!!

ghostmadlittlemiss

determined_new_ms wrote: »

ha ha ha :rotfl:the subversive ppl (or lazy!) slip through the net. Sorry!

Glad you found it funny. After I'd hit send, I was worried it sounded patronising.
Kayleigh