The black sheep returns...

mizmir

Ummmm... hello again. Please may I come back? It's been a while - well over a year I'm guessing - since I last posted here. Can't even remember why I stopped - think life just got more chaotic than usual! I did consider rejoining under a new name cos I have been so !!!! but wanted to catch up with old friends on here - hypno, taxi, elantan, seaxwyn, Dragon, karmacat, BOB and others - so thought it better just to 'fess up and fall on your mercy!

2011 hasn't been a lot of fun. Sudden and unexpected major surgery to start the year, followed by a succession of complications, injuries and illnesses that I'm still working through. OH has relocated 300 miles away for a great job - so we have had to move (which is proving to be good) but are still trying to sell our old house again after sale fell through (which is bad). Changes at work which mean that from May next year I have no job (have done a deal to work largely remotely until then). So finances which have been manageable (with controlled and slowly reducing debt) are now in serious danger and I need to get a firmer grip now before we land in very deep water.

Will be working out detailed plan over the next few days. Serious cost cutting and money making needed. And I know no better place to work on that than here! Talk to you all soon.

mizmir

Right - have done the sums - and the good news is that we can afford to keep up repayments on the debts, mortgage and rent while we have two salaries coming in. There is a little left over so will direct that to debt reduction.

Bad news is the debt is a lot higher than I thought - £39K (not including mortgage) - which reflects increases due to the move (needing deposit, moving expenses etc). We will get some of that back eventually - we have £3K coming in relocation expenses in the next few days. So will then be 36K. Most of this is on 0% or fixed low interest cards.

The price we had agreed on the house would have cleared the mortgage and the debts - leaving us with very little over - but a clean slate. IF we can get that again (fingers crossed buyer gets a new buyer for theirs as they are still very keen) then we will do that and start again.

But we need to plan for the worst case - that we don't sell the house by the time I am jobless - and work to that. If it came to that we'd have to rent the house out (would rather not do that now as want to be able to sell). But I calculate we'd still need an extra £800 a month at least to make ends meet.

So that's my challenge: to develop income streams or make savings that will bring in £800 a month. And to use that to reduce the debt as much as possible. I am going to aim to pay off £1200 a month for the next 7 months. If we sell the house and pay off the debts then this can be directed at savings!

do_it_today!

Good luck I hope you do find another buyer

[Deleted User]

if you are going to rent your house out remember to check all legal implications and to inform your lender who may decide to increase your mortgage rate by 2%

Aesop

Hi mizmir

have a look here, you might remember it?

mizmir

woodbine wrote: »

if you are going to rent your house out remember to check all legal implications and to inform your lender who may decide to increase your mortgage rate by 2%

Thanks - am going to ring the lender and check exactly what our options would be before we get to a position where we have no choices. 2% more would be touch - we are already paying 5.75% as we are stuck on a fixed rate until next year. Really hoping it won't be necessary.

mizmir

Aesop wrote: »

Hi mizmir

have a look here, you might remember it?

Yes - I remember it. Glad to see it going from strength to strength.
Will rejoin - that would cover £300 of the £800 target!

hypno06

hey there!! How lovely to see you posting again - although I know that it is a little weird saying "welcome back" to a debt forum, you know what I mean :D:D

Pop into the diaries board for a catch up! All the oldies are still there one way or another :rotfl:

mizmir

hypno06 wrote: »

hey there!! How lovely to see you posting again - although I know that it is a little weird saying "welcome back" to a debt forum, you know what I mean :D:D

Pop into the diaries board for a catch up! All the oldies are still there one way or another :rotfl:

Hey Hypno - and huge congratulations on getting DEBT FREE!! :T :T Will pop over to diaries and see who's about! Dare I start a new one myself...?

hypno06

Just by virtue of the fact you have started posting your own thread here, you have pretty much started a diary already! Why not just ask for it to be moved over to the diary board and continue it from there!

GreyhoundAngel

Ah, found you

mizmir wrote: »

Ummmm... hello again. Please may I come back? It's been a while - well over a year I'm guessing - since I last posted here. Can't even remember why I stopped - think life just got more chaotic than usual! I did consider rejoining under a new name cos I have been so !!!! but wanted to catch up with old friends on here - hypno, taxi, elantan, seaxwyn, Dragon, karmacat, BOB and others - so thought it better just to 'fess up and fall on your mercy!

Seems to be a few of us returning recently having gone awol for a time :cool: Things do just seem to get in the way don't they

hypno06 wrote: »

hey there!! How lovely to see you posting again - although I know that it is a little weird saying "welcome back" to a debt forum, you know what I mean :D:D
Pop into the diaries board for a catch up! All the oldies are still there one way or another :rotfl:

Ditto what Hypno said ... BUT - as for catching up ...... good luck with that :eek:.... the rate some of them are talking you could be some time ... least we'll know why if you go mia again ... I still haven't caught up :rotfl::rotfl:
Plus she pinched all the Jaffa's again :shocked:

mizmir wrote: »

2011 hasn't been a lot of fun. Sudden and unexpected major surgery to start the year, followed by a succession of complications, injuries and illnesses that I'm still working through. OH has relocated 300 miles away for a great job - so we have had to move (which is proving to be good) but are still trying to sell our old house again after sale fell through (which is bad). Changes at work which mean that from May next year I have no job (have done a deal to work largely remotely until then). So finances which have been manageable (with controlled and slowly reducing debt) are now in serious danger and I need to get a firmer grip now before we land in very deep water.

Will be working out detailed plan over the next few days. Serious cost cutting and money making needed. And I know no better place to work on that than here! Talk to you all soon.

Sorry things have been so rough, hope you are on the mend now :A
Look forward to the progress and at least I may be able to keep up with this one

Angel xxx