I am in deep trouble

Verbatim

Hi there wtt,

I've only just caught your thread and have read it through.

I'm glad you've managed to turn things round and wish you luck with the job offer. let us know when you hear, I'm sure lots of us will be crossing our fingers for you.

wheretoturn

*Thread resurrection warning*


It has been quite a while since I posted and for that I apologise to everyone who took the time to reply and advise.

Well, the past few months have been eventful to say the least. In February, I managed to secure a very well paid position that looked as if it would be the answer to my prayers. Unfortunately, it has turned into another nightmare and it looks as if this job will finish at the end of May. I wont bore you with the details but next time (if the4re is a next time), I will research the company a lot more. In saying that, when you are desperate, you will clutch at any straws eh?

So, an update is I am selling the house in Wales, and that should go through in about 6 weeks or so. The money from the sale will pay off the mortgage and an unsecured loan and free up around £660 pcm. It will also leave me around £15k spare (ish).

I have contacted a local letting agent and they think they can let my other home for about £900 pcm which, when the fees etc are taken out, will leave me to pay around £180 still to the mortgage company on an interest only mortgage.

Without a job, this still leaves quite a few payments (credit cards etc) that have to be met and panic is now setting in again.

If I try and sell my other house (as opposed to letting it), there is not a lot of equity there (probably 15k tops) and it obviously means I will be homeless as my mother has moved into a one bedroom sheltered accommodation. This, coupled with the money from the other house will still not meet all my debts

So, where do I go from here?

I have been offered a job working overseas where the wage is very poor but due to the low cost of living, I could manage to survive. Ideally, I would like to rent my house out and live overseas but I am not too sure if the CC companies will not accept a much reduced payment and allow me to do this. Am I being selfish in thinking this way?

After feeling extremely buoyant a few months ago, I am now worried sick and getting more and more depressed.

chevalier

Hi there
sorry to hear that things might go down the tubes again for you.

Could you do us a current SOA so we can see what your new income and outgoings are?

chev

chevalier

ps
It is all very well to think about going abroad, but that will also mean you won't see your son, so is it really worth it?

What is your profession? If you are set on going abroad there are many countries that want skilled professionals where the wages are still ok.

chev

chica_fi

Have just read this thread through and have been very impressed with your determination. Just a though - what happened to the £15/£20k worth of shares? Would that not make a fair dent in your credit cards?

wheretoturn

chevalier wrote: »

Hi there
sorry to hear that things might go down the tubes again for you.

Could you do us a current SOA so we can see what your new income and outgoings are?

chev

I will organise another this evening

wheretoturn

chevalier wrote: »

ps
It is all very well to think about going abroad, but that will also mean you won't see your son, so is it really worth it?

What is your profession? If you are set on going abroad there are many countries that want skilled professionals where the wages are still ok.

chev

The past few months has seen the realisation that my youngest son (now almost 16) is not going to want to be visiting me anything like as much as before. I am currently down the pecking order behind his mates, girls, football etc. :rolleyes:

We still talk almost every day but his visits are now monthly as opposed to weekly. Within 6 months that will be even less as he now has his own life.

Unfortunately, I don't have trade skills per se and have worked as a company director and senior manager (within a sales and marketing function) for the past 15 years or so

wheretoturn

chica_fi wrote: »

Have just read this thread through and have been very impressed with your determination. Just a though - what happened to the £15/£20k worth of shares? Would that not make a fair dent in your credit cards?

Yes, selling them would help enormously but they are still held by me as i have yet to convince anyone they are a good investment

chevalier

If you have a look on the new zealand government website, I think you would be surprised what they are looking for. It is not just all drs, nurses, etc. When I looked last they also wanted shepherds (!), and all sorts of other professions.

Might be worth checking.
chev

Emmzi

wheretoturn,

this might sound counterintuitive cos it costs, but please consider it.

Have you thought about a good outplacement counsellor? You need access to the hidden job market for senior levels. And help deciding what you WANT (not feel you HAVE) to do.

FWIW financially I'd get shot of both houses. Mortgage burdens caninstill panic and bad decision making. People who rent find it easier to work anywhere in the country, or abroad.