In a panic - flat about to be reposessed

Cool_Chick

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5th Nov 2012 UPDATE - Feeling much better now. Valuations done on the flat and speaking to Shelter. Big thanks to all the MSE Forumites!

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Original post:

Hello,

I'm in a really bad situation financially and I'm a few weeks away from killing myself.

I have not been able to find work for 4 years now. I'm an educated, specialised office worker. I'd rather not say more than that. I've been paying my mortgage through a tax refund, Mortgage Assistance from the DWP then a large personal injury insurance payout I received.

But I now have 3 months of arrears. Approx £3k. I've been with NRAM since the start (over 7 years), and they really are terrible. In this time, I've already won 2 Financial Ombudsman Service complaints against them.

They have sent me 1 letter and are now threatening to go straight to legal proceedings. All I receive is £71.00 Jobseekers Allowance per week, but they want more than this.

I have no friends and no family. All I have is my cat.

The CAB won't respond to my emails. Shelter never answer. CCCS and National Debtline only talk about budgeting and payment plans. £71.00 per week isn't very much to faff about.

My head says that I should get the house valued, sell it quickly (even at auction), then maybe buy a caravan and live happily with my cat.

My heart says f*%k it, I can't fight anymore. Grab a bottle of whiskey then jump in the car at the dead of night and find a nice brick wall to hit. With my cat. I can't bear to leave him behind.

Has anyone else been in my position and have any constructive advice please?

No offence, but I'm really not interested in anyone saying "there, there, you'll feel better tomorrow/life is precious/you are special/speak to a helpline/go on anti-depressants" etc.

Thank you.

ILW

Is the place worth more or less than the outstanding mortgage?

whitewing

If your head says get the house valued, why don't you at least organise some valuations.

You also know you should see your GP, and really you should. Perhaps that would then help you get some time to sort things out.

Can you go to CAB in person? Take all your paperwork. My friend gave me a tip to arrive there half an hour before they open. You'll still have to wait some time but should be able to get some good advice that day.

There is also a CaB forum, not sure if you've posted there yet. You'll get CAB advice and also other forumites who can give further explanation and details.

Don't give up just yet.

davelewis

Could you consider getting a lodger to help with the mortgage? I don't know if you have a 1 or 2 bedroom flat but I know in London many people turn the living room into a letting room. I lived in Wembley with a resident landlord who rented out 2 rooms to lodgers.

whitewing

Have you tried any temping agencies for work? I know the work is often fairly mindless but it will at least give you some thinking time.

Thrugelmir

There's more to life than struggling to pay a mortgage.

Start by selling up. At least remove that worry.

Then move forward from there.

Cool_Chick

Thank you all so much!

Not sure about the value right now. Shouldn't be negative equity but will be hard to sell as Xmas now. I paid £250k, and I think I should get around £300k now. In 2007 I had an offer of £420k but it fell through due to the recession.

2 bed but can't get lodger as it's in a really bad condition. I bought it to fix-up but could never afford it. And I'm home all the time now which no-one would like.

I would be happy to temp, but no agencies will even return my calls when they see that I have been out of work for 4 years. Despite all leading blue-chip companies until then.

I so badly want to work, any office job would help. I just can't find one on my own.

whitewing

Can you get onto a work experience placement into an office job. It won't solve immediate problems but may get you a chance.

ACG

I owned a house with someone who went bankrupt - very stressful time so i can imagine what your going theough.
In one hand it was worse for me as i was being put in a position that was none of my own making... on the other hand i was financially able to support myself so whilst i would have lost my house i would have got my share back and been able to start again.

You wont feel better in the morning, so anyone that says that is speaking out of their ...... What i would say is time is a healer, im back on my feet, got my own place again and after renting for over a year the worst is behnd me.
The same goes for the person i bought with. They went bankrupt and after a year theyre now in a smaller place all their financial worries are behind them and now theyre looking back thinking it was a tough time but theyre over it.

No words of wisdom or advice other than you could be lookig back in 12 months thinking im happier now than i have been in the last 3 years.

ILW

Cool_Chick wrote: »

Thank you all so much!

Not sure about the value right now. Shouldn't be negative equity but will be hard to sell as Xmas now. I paid £250k, and I think I should get around £300k now. In 2007 I had an offer of £420k but it fell through due to the recession.

2 bed but can't get lodger as it's in a really bad condition. I bought it to fix-up but could never afford it. And I'm home all the time now which no-one would like.

I would be happy to temp, but no agencies will even return my calls when they see that I have been out of work for 4 years. Despite all leading blue-chip companies until then.

I so badly want to work, any office job would help. I just can't find one on my own.

Looks like if you sold you would come out with 50 or 100 grand to play with. I would speak to an agent tomorrow.

lakes_lass

I moved away from a big city many years ago after running into huge financial trouble and relationship woe. I moved to Cumbria, took a basic job in a hotel and for the first 12 months had my accommodation thrown in.

It may not be everyone's cup of tea but it allowed me to do an active, structured and most importantly sociable job with my time off spent enjoying the area I lived in. My expenses were minimal, food was provided on duty and I was able to save up for a deposit on a modest flat.

Please don't feel suicidal, there is always a way out. Whilst I did not feel suicidal about my situation, I left behind a lifestyle that was based around spending money, keeping up with fashion and furnishing my house beyond what was required. I don't do anything like that now. I have a reasonable wage and enjoy a slower pace of life.

You mentioned selling up and buying a caravan with your cat. Well I say DO IT. Find a nice rural spot, the countryside and lack of material goods is a refreshing way of life. And the people are friendlier too!