What a Right Pickle!

nomoredebtplease

OK, apologies for being away so long but there have been some big changes going on in our lives over the last few months. Things are starting to settle down again and I thought everyone on this board deserved to hear an update.

1) We have used the money gift to clear ALL our debt. You have no idea how much relief this has given to us. The weight off our shoulders is immense and I do realise how lucky we are to have been given this second chance. We are however, required to pay some of it back (approx. £40K). We have agreed to repay it at a rate of £500 per month interest free. Again, we are amazingly lucky.

2) About a month ago, I was made redundant with a fairly reasonable pay off. Had this happened before we'd been given the opportunity to clear the debt, I have no idea how we would have coped. We wouldn't - it would have sent us over the edge.

3) Fortunately, the size of this settlement gave me the financial cushion and the opportunity to do what I've been wanting to do for a few years - to set up my own consultancy and work for myself. I was also very fortunate enough to walk straight into a 6 month contract giving me the redundancy money as a reserve fund.

4) My wife had subsequently decided to give up work and finishes soon. She was off work with the boys for Easter and it really hit home to us how important being there for them really is. After school clubs, holiday clubs and the rest really ate into our outgoings and it just wasn't worth her working.

5) The boys will still be attending the same school. We're confident we can cover it now.

6) The work on the house has started (albeit scaled down) and we're looking forward to that being finished towards the end of the year.

7) I will do a revised SOA.

8) I need to sort out (and seek advice through the forums here!) how best to attack the re-mortgage in September.

Can't think of anything else for the moment.