The Over 50K debt Club - Join Here!!

doitmyself

livinginhope wrote: »

Only just seen this thread,can I join your club? Unfortunately I think I more than qualify

LIH

Hi living
Go on then, what's your story...

hypno06

Hi LIH and welcome to the club!!!!!

Did you have a good Easter away? I hope the weather was fab for you and that you have got your suncream ready for this weekend too!

golddigger_3

doitmyself wrote: »

Bad luck on the house there but thank god for the jones's else that garden wouldn't never have got done huh?

Forgot to mention it was done by a cowboy :doh: and is a disaster!
Being dug up again this summer as we are having a new bathroom and kitchen built.
(:p Before you faint - its free as my 2nd son has a disability. We need an extra toilet as he has a colostomy and there are 6 of us in the house - took 4 years to get it agreed.)

Hubby is redoing it this time!

livinginhope

doitmyself wrote: »

Hi living
Go on then, what's your story...

I thought everyone knew my sorry story
Our debt was caused by a massive house fire a couple of years ago,we had insurance,but were underinsured.The loss adjuster,who was very nice,didn't realise the extent of the problem until it was too late we were made to fund everything up front,we didn't have the money,so went to the bank,who in turn spoke to the loss adjuster,the bank then upped our CCs to 30k each,they also gave us a 35k personal loan,we didn't like it,but we were told this is what normally happens.We had to rent a house for 6 months while ours was rebuilt,we had to fund all deposits and buy furniture,we had no clothes,not even a pair of shoes,I remember going to Asda in my dressing gown to buy something to wear :eek: it was at a quiet time,but very embarassing,anyway,when the house was finished,we moved back in,waited for our settlement,we waited and waited,then finally the loss adjuster turned up personally with a 4k cheque,he couldn't apologise enough,we were very underinsured and that is all we got back,in the meantime DH had lost his job due to taking 2 weeks off to sort out somewhere to live and getting over the fire,we had no income for a couple of weeks,he found another job,then was laid off again,this happened 4 times.
It was actually the loss adjuster who suggested this site and basically we have never looked back,we can't spend the rest of our lives regretting what has happened,but I do still feel a bit of a victim,I'm sure as the years go on I will get my head around things

LIH

livinginhope

hypno06 wrote: »

Hi LIH and welcome to the club!!!!!

Did you have a good Easter away? I hope the weather was fab for you and that you have got your suncream ready for this weekend too!

Yes lovely thanks hypno,weather was brilliant,but the nights were FREEZING!!! good job we have very thick sleeping bags icicles hanging from your nose are not the most attractive things
Haven't seen the forecast for the weekend,is it supposed to be good? will do the garden if it is,been very misty the last few days.
LIH

lonely_2

hi everyone

living in hope, may i ask, if you lost everything, why didn't you consider declaring yourself bankrupt? or maybe doing an IVA? 60 years on a dmp just doesn't make sense, unless you are joking? you and hubby sound very brave, anyway...

doitmyself, i am taking a leaf out of your book and doing it myself! that's why i haven't told him. and no i don't need anyone to talk me into it - i wasn't sure at the start but now i just want to deal with it. pay the money back, and never have to think about it again once it's paid off. it's my debts - as you can see on earlier post - and yes some of the money was spent on him, but he didn't ask me to...i was young and foolish. i don't want to lose his trust and what he doesn't know won't hurt him (may sound naive but oh well!)

Kez100

I'm new to this forum and, luckily, not in a position to join you here (probably due to the fact I absolutely hate shopping and so long as my car starts I'm a happy bunny) but I have read the thread in full and want to say what a wonderful and sensible attitude you all have toward your future. I wish you all very well and hope each and every one of you are, daily, proud of your constant achievements.

lonely_2

Thank you Kez - that's a lovely thing to hear. it is hard to remain positive in this situation...

livinginhope

lonely wrote: »

hi everyone

living in hope, may i ask, if you lost everything, why didn't you consider declaring yourself bankrupt? or maybe doing an IVA? 60 years on a dmp just doesn't make sense, unless you are joking? you and hubby sound very brave, anyway...

Why would we declare ourselves bankrupt? it was only after the house was rebuilt and we had moved back in that we found out we would only get 4k back,if we had gone bankrupt we would lose the house we fought so hard to save.We have about 100k equity in the house,but we cannot release it because of lack of income,we cannot rent due to my needs and pets,so we are staying put.
An IVA was not suitable for us as we do not have enough income to fund it.And NO I am not joking,we do have 56 years 10 months left on our DMP.
I don't think bravery comes into the equation,we just did what we had to in our situation,anyone else would do the same
LIH

lonely_2

Hi LIH - just re-read your post, i missed the part about you paying for everything up front then finding out AFTERWARDS about the underinsurance...wasn't being patronising btw...just think it is brave to make such a huge commitment (although i can see now you didn't have a choice)