I am in deep trouble

Slinky

Just read this thread, glad you've got a plan.

A thought on the appointment with the estate agents, ask them to give you a truly warts and all opinion of your property and its faults, and what you need to do to get it to sell quickly. I'm sure you've seen some of those House Doctor programmes - it is true that condition and presentation play a huge part in getting a good price quickly.

Good luck with getting it sorted.

wheretoturn

Slinky wrote:

Just read this thread, glad you've got a plan.

A thought on the appointment with the estate agents, ask them to give you a truly warts and all opinion of your property and its faults, and what you need to do to get it to sell quickly. I'm sure you've seen some of those House Doctor programmes - it is true that condition and presentation play a huge part in getting a good price quickly.

Good luck with getting it sorted.

Good advice there. I will write that one down

wheretoturn

Bestthingsinlifearefree wrote:

Hi WTT,

Keep up the good work.

On the job hunt front have you tried these sites, they cover all industries / sectors / all locations.

https://www.reed.co.uk
https://www.planetrecruit.co.uk
https://www.jobsite.co.uk
https://www.monster.co.uk
https://www.totaljobs.com

Good luck ! Keep us posted.:T

I use some but not all - I will give the others a try later.

Thank you

loveandlight

Originally posted by wheretotturn
I have also contacted my Mum and she is going to visit this weekend and I am going to let her know exactly what is happening.

Just a friendly reminder that your mum is 70 years old and her coping skills may not be what they once were. Mums worry about us at the best of times, so I would tread carefully with what you tell her and reassure her that you are now on top of things. Good luck.

wheretoturn

loveandlight wrote:

Just a friendly reminder that your mum is 70 years old and her coping skills may not be what they once were. Mums worry about us at the best of times, so I would tread carefully with what you tell her and reassure her that you are now on top of things. Good luck.

I appreciate the advice but as she is possibly going to have to move, i think total honesty is the best policy here.

StratApproach

Just been through each post and I have to say I really admire your determination.

Any time you feel low whilst you go through this transition remember what you and others have said on this site. In a few years time, your new life will be much better due to the wisdom and experience you have gained.

Well done!

StratApproach

wheretoturn

Just a quick update:

I have spoken to my Mum and explained the situation and we are now looking at the possibility of sheltered accommodation close to where she currently lives. If this happens then the equity from the house will go a long way to settling other debts and freeing up around £1200 pcm. TBH, that now looks a better solution that selling my home as when you take into account early settlement penalties, solicitors fees and estate agency fees, the equity is about the same (or less) than in the other property.

I have also been to the CAB but was very disappointed with their attitude. In a nutshell they said that as I am not yet technically in debt (by that they meant not in arrears) and obviously intelligent enough to write letters etc (their words not mine) then they were unable to help me other than give me a book entitled "Dealing with debts". They told me to come back if and when my situation became more desperate!

Now for the great news. It looks as if I am about to be offered a job! It isnt as highly paid as before but still attracts a take home of around 2-2.5k pcm. I will know for sure by the middle of this week but I am 99% sure it is going to be offered!

Now, if I can secure that and sell one property, I will be back on track. Not out of the woods by no means but certainly a little light at the end of the tunnel.

all_hours

Good news, you sound so much more positive.

Fingers crossed for you with the new job.

melaniec_2

Well done you are doing really well.

I hope you get the job and find somewhere for your Mum.

Re the shares is there anyway of selling them to someone else or suggesting that you may need to look into this to spur your former employer into action. I'm sure if he needed to he could find the money to cover your cost. Also they may be worth more than the £20k you invested dependant on how well the business has done maybe an Independant Financial advisor can help with this?

wheretoturn

melaniec wrote:

Well done you are doing really well.

I hope you get the job and find somewhere for your Mum.

Re the shares is there anyway of selling them to someone else or suggesting that you may need to look into this to spur your former employer into action. I'm sure if he needed to he could find the money to cover your cost. Also they may be worth more than the £20k you invested dependant on how well the business has done maybe an Independant Financial advisor can help with this?

I forgot about the shares and the potential flat rent etc.

I have spoken to my old employer and he has now decided to sell the flat. that is good and bad in as much as it is now not available for a rent free period but it does free up capital which i hope he will use to buy my shares.

Unfortunately, I will be lucky to see the investment returned and will probably have to take a £5000 hit but at least that is £15000 to clear a bulk of remaining debts and that will really see me back on my feet.