Existing, not living (DFW)

ceebeeby

19lottie82 wrote: »

Also, why id there nothing in here for haircuts or clothes?

:rotfl::rotfl:I literally get my haircut max once a year, sometimes once every two years, and usually get a friend to do it! If it's lucky, I'll stick a superdrug hair dye through it!!

Clothes - I very very rarely buy new clothes. Fortunately I've got a loft full of clothes in different sizes and just swap them around.

I'm not a very "look at me" person. I don't think there's much to look at!!

Little_Miss_Uni-Debt

Unsecured debts section. Also make a note of what interest you are paying on it. Could be a 'per day' amount or a percentage rate.

If your long term plan is to be leaving the house you are in now, perhaps you could start the clear out & make some cash back from selling online/car boots to clear down a smaller debt or two.

ceebeeby

Thanks LMUD, have updated and now live a negative equity life ... to add to the saga, I technically (and legally) own 50% of a second property overseas. The other 50% owner lives in the property, doesn't pay any rent etc. to me, but claims when they have enough money, they plan to buy me out if I don't rock the boat. I paid for my half of the property in cash about 5 years ago. Property prices have crashed dramatically, but there should still be circa £40 - £50k worth of an asset in my name, which I might one day get back to add to the whole pot. That could be this week, it could be in five years ... it could be as long as a piece of string.

My too be ex-OH has nothing to do with this property, and recognises it as solely mine.

Should I add that to the SOA or write it off, for now?

gizmo111

ceebeeby wrote: »

Thanks LMUD, have updated and now live a negative equity life ... to add to the saga, I technically (and legally) own 50% of a second property overseas. The other 50% owner lives in the property, doesn't pay any rent etc. to me, but claims when they have enough money, they plan to buy me out if I don't rock the boat. I paid for my half of the property in cash about 5 years ago. Property prices have crashed dramatically, but there should still be circa £40 - £50k worth of an asset in my name, which I might one day get back to add to the whole pot. That could be this week, it could be in five years ... it could be as long as a piece of string.

My too be ex-OH has nothing to do with this property, and recognises it as solely mine.

Should I add that to the SOA or write it off, for now?

who exactly is this person? What do they mean do not rock the boat, and why are you allowing your money to be used to make someone else comfortable?

catriona79

Ceebeeby - good luck on your quest!
The first few days are a bit of a shock, after you've written it all down. But then you have a good think and make things work.

I would try to contact a debt charity, such a pay plan to try and get advice.

X

Little_Miss_Uni-Debt

I know it's tough to see it all written down, the more honest you are in your SOA the less surprises come along later on down the line.

As for the second property, I think whoever is living there is on a pretty sweet deal. Only owns half the property & is paying no rent - for 5 years? Hmm...

You don't really have any guarantee that when they've saved up they'll buy your 50%. What if they just move on to another house they buy outright and refuse to buy or sell the other half? You might be able to get a paying tenant in but I guess it depends on the location.

That £40-£50k could clear your unsecured debts. It should be added into your SOA once you know the current value of your half. When was it last valued? Also look into the typical rent prices in that region.

Don't write it off just yet, it sounds like an escape plan to me!

Gather as much info as you can, once you've decided what's best for YOUR situation (never mind other people for once ) be clear and contact them to give them their options - buy you out, start paying half rent or agree to sell whole property. Treat it as a business transaction.

Jonesy88

Can you explain to your kids that you cant afford to keep buying them uni stuff?

As i didnt qualify for a bursary i made a deal with my parents whilst at uni - my food and board was free but in return i funded myself through uni and socially. I got an evening job at a call centre (16 hours a week) and still got a very good degree.

ETA: uni should be about finished for the year - will your kids be getting a summer job? they could earn and save for the coming academic year.

ceebeeby

The questions re: the second home needs answered by two sentences and a lot of unwritten words in-between.

1) I have no family
2) It is my mother and her third husband (although they are now separated) who are holding the property

ceebeeby

Little_Miss_Uni-Debt wrote: »

contact them to give them their options - buy you out, start paying half rent or agree to sell whole property. Treat it as a business transaction.

That was exactly what I did two months ago.

The response was something equivalent to being told by her, I was deliberately upsetting her very precarious apple-cart and if I didn't pack it in, he would stop her allowance and she would starve to death! I was to go and sit and wait it out until their (now commercially rented) ex-marital home property sells in approximately a years time, and be good else they would make it difficult for me.

Okay, so I've made up the interpretation, but that about sums it up :rotfl:

Little_Miss_Uni-Debt

ceebeeby wrote: »

That was exactly what I did two months ago.

The response was something equivalent to being told by her, I was deliberately upsetting her very precarious apple-cart and if I didn't pack it in, he would stop her allowance and she would starve to death! I was to go and sit and wait it out until their (now commercially rented) ex-marital home property sells in approximately a years time, and be good else they would make it difficult for me.

Okay, so I've made up the interpretation, but that about sums it up :rotfl:

Yeah....this is blackmail.

They're already making it difficult for you, even more reason to want out asap.