dont know where to start

heyboots

jumperjohn wrote: »

Hello. This maybe simplistic but why not sell the house? Pay off the mortgage and loans which leaves 36k for a deposit for a new house. Or have a break and rent for a year, ave savings and enjoy your earnings and save a little.

Hi John, thanks for your reply, selling the house was my first thought, however the house 4 along has been up for sale since september and not sold yet, 2 houses over the road (smaller than ours) up for sale for 6 months also, It's still a possibility but I cant really rely on it.

If I thought we could sell it within 3-4 months id jump at it !

jumperjohn

heyboots wrote: »

Hi John, thanks for your reply, selling the house was my first thought, however the house 4 along has been up for sale since september and not sold yet, 2 houses over the road (smaller than ours) up for sale for 6 months also, It's still a possibility but I cant really rely on it.

If I thought we could sell it within 3-4 months id jump at it !

I wonder if there's a way to release equity in your home to pay all the debts until a buyer is found. I realise selling a house could take a year or longer, depending where you live.

heyboots

jumperjohn wrote: »

I wonder if there's a way to release equity in your home to pay all the debts until a buyer is found. I realise selling a house could take a year or longer, depending where you live.

My mortgage company was prepared to give me a £35k 5% loan which would be virtually the same payout as a debt mangement plan with a paying company.

However, when i started to read up it seems lots of people STRONGLY advise against replacing unsecured debts with secured loans, also (and I might sound a but masochistic here) I'm not sure if that quick fix would do me any good in the long run.

I'd have a bigger disposable income (no crippling 29%apr) but a big part of me thinks if i dont make the lifestyle changes I'll just end up back here again & again, always living JUST outside what i can afford, and im just tired of that!

Its still an option though!

anna-marie

heyboots wrote: »

why didnt I see that? thankyou!!!

I AM kinda clinging to that cash, the main reason I'm scared to release it is I'm scared at xmas or other points where I am going to be "Low" that i do something really stupid like take out a payday loan, if I have an emergency fund im less likely, but then again I think I just need to get my head around the fact I cant afford the luxury of keeping that £1k?

I'm also waiting on the outcome of a front loaded ppi claim from lloyds tsb for a loan I just finished paying, its not on my SOA but I only recently finished paying an extra £270 per month on a lloyds tsb loan, I had £3.5k front loaded ppi on it 7 years ago so - although I'm trying not to rely on it, I am *hopeful* its been 8 weeks now but I received a letter last week saying it could take ANOTHER 8 weeks and from reading on here even if its upheld, the payments dont seem exactly speedy!!!

hmmmm I guess its time to cash the shares (the £1000 cash is in shares)

Using the £1000 cash to pay off your store card is excellent advice, I would certainly do this!

Don't fret about Christmas. If you are in the frame of mind to change your lifestyle there is loads of advice on the "old style money-saving" forum about how to do a happy, festive christmas on a budget. Also, I'm guessing you've got a stack of stuff you could sell on ebay - you've got plenty of time to build up a little paypal nest egg for christmas treats:)

heyboots

ive got a load of stuff built up I need to take down to the studio for the day to photograph and list on ebay so yes I should just build up a paypal nestegg for xmas, good tip!!!

Betty_Crumble

hey heyboots, how you diddling? any updates?
How great that you are a photographer, if anyone will get the most out of marketing their stuff for ebay it'll be you. I have just listed 5 things, hate doing it but needs must and all that. Was umming and aahing about starting a 'ebay 5 things a week' thread. If I do would love you to join in, will let you know.
Hope you know that we're here for you, hope to 'chat' soon.

heyboots

Hi Betty, thanks do much for asking! well things still static negatives;
1. Cant find anyone to do my DAS for free, Begbies Traynor at £35 per month with £700 fees upfront still look favourites, this saves me £1000 per month in interest approx so I can justify but obviously free would be better so not quite given up yet.
2. Barclaycard (the only one im behind on) have added £460 interest in the last 40 days DESPITE telling me on the phone they would freeze interest. (I've learned reading this forum to get EVERYTHING in writing so im off to find the template letters to send)

Positives
1. Sold stuff on ebay £70 (I can give you tips on taking good photographs if you like, really makes a difference to the selling price ive found)
2. chased up non payers for my studio so sitting with £800 excess in the business account which I can draw as wages if I wish
3. started the process of selling my shares

I'd definitely love to join the ebay 5 things per week, im lazy about it! i need the pressure of reporting back!