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XPost - massive debts Vs. house equity
headinsand_4
Posts: 25 Forumite
Newbie mistake - I posted this in the BR forum first which may not have been correct.
Hi Guys,
I'm so glad i found this forum.
My basic situation is that i have around 90k of unsecured debts (mainly credit card) but I have a property which has about the same in equity (probably more) but things are so bad now that i've missed a mortgage payment as well as credit card payments simply because i have no real income. I went through a divorce about 4 years ago paying off my wife (50K) and left my job 18 months ago (panic attacks) lapsing into a depression which has stopped me working (I had a real good job as an travelling IT professional for 10 years) and have basically made payments by the standard "robbing Peter to pay Paul". Since Christmas this whole situation has got me down more and more and have even considered attempting to file for Bankruptcy merely to escape it all (although I fully accept this is not the correct method at present). Please note I am not a lazy person but attempts to get back into work seem almost pointless to me, my general apathy is overwhelming - and i feel I cannot go through with the torture of an extended house sale whilst feeling like this. I have no children which is a relief.
Basically I'm hiding myself away from everything.
Any sort of advice would be so welcome.
H.
Hi Guys,
I'm so glad i found this forum.
My basic situation is that i have around 90k of unsecured debts (mainly credit card) but I have a property which has about the same in equity (probably more) but things are so bad now that i've missed a mortgage payment as well as credit card payments simply because i have no real income. I went through a divorce about 4 years ago paying off my wife (50K) and left my job 18 months ago (panic attacks) lapsing into a depression which has stopped me working (I had a real good job as an travelling IT professional for 10 years) and have basically made payments by the standard "robbing Peter to pay Paul". Since Christmas this whole situation has got me down more and more and have even considered attempting to file for Bankruptcy merely to escape it all (although I fully accept this is not the correct method at present). Please note I am not a lazy person but attempts to get back into work seem almost pointless to me, my general apathy is overwhelming - and i feel I cannot go through with the torture of an extended house sale whilst feeling like this. I have no children which is a relief.
Basically I'm hiding myself away from everything.
Any sort of advice would be so welcome.
H.
0
Comments
-
First of all- you're in the right place.
Grab a cuppa it makes the world seem rosy. You need to fill in your SOA there is a link in the sticky at the top of the board. Someone clever might be able to post a link but atm I'm the only one typing!
Have you seen a GP regarding your depression? Are you receiving all benefits you're entitled to? You have a long road ahead but at least you are taking the first steps.
Good luck with it and get that soa going!Debt: 16/04/2007:TOTAL DEBT [strike]£92727.75[/strike] £49395.47:eek: :eek: :eek: £43332.28 repaid 100.77% of £43000 target.MFiT T2: Debt [STRIKE]£52856.59[/STRIKE] £6316.14 £46540.45 repaid 101.17% of £46000 target.2013 Target: completely clear my [STRIKE]£6316.14[/STRIKE] £0 mortgage debt. £6316.14 100% repaid.0 -
I can't offer any advice other than grab that cuppa, grab a bank statement and list everything. Work out where it's all going. Everyone will be able to offer some proper advice but you've done the first step.Next Account [STRIKE]£89.03 [/STRIKE] thanks to ebay auctions new balance £26.03 APR 26.49% * Vertbaudet Account £[STRIKE]95.50[/STRIKE] £59.93 APR 29.8% * Virgin Credit Card £2191 APR 1.24% * Abbey Credit Card £6485 APR 0%
More to be added as the bills come in - eeeeek!:eek:
START OF APRIL END OF APRIL
If it stays still long enough I'll ebay it :rotfl: :rotfl:0 -
That's weird, how'd you manage to get the same username as me!?0
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