*~ 2014 - One Day At A Time ~*

davidlp

Foa killerpeaty

I just completed AAT Level 2 and work in payroll

Stupid gambling wannabee accountant lol

ALM2013

Just wanted to stop and say high. Good luck with everything

bouncydog1

Hi Charlie
What a fantastic post - you sound really motivated and will get the support on here that you need. Please try to get help for your gambling addiction to really help you overcome it. In 12 months time you will have paid your debts and have some savings again if all goes to plan - rooting for you.

BD

1DayAAT

Moved my progress to DF by XMAS 2014

fyggy

Hey 1DAAT

Don't worry about looooong posts, I'm like that with mine!

I don't think I have much to advice to give. But I wanted to say my family and I have been plagued by bad mental health in the last few years. First I began with depression but did not realise this until a good year into it, I think you kinda have a LBM with depression as you do finances! 18months on medication and some counselling I am back on an even keel. During this time however, my DH, best friend and close friend also got diagnosed and we were all on the same medication at one time, hah! More seriously though my Mother had what would be termed a nervous breakdown which lead to two hospitalisations, one sectioning, ECT and lifelong medication with some blips since! It was during these years I changed my own spending and debts began.

No sure if any of that helps but from a practical point of view- are you on the right or enough medication? My Mums worse symptom is anxiety, she takes 3 different medications for her mental health. If you have a health worker, often called Home Treatment Team (Community psyche nurse) perhaps get in contact with them? Or ask for a referral from your GP for a bit of extra support. There are addiction specialist nurses out there, though I think they tend to be for intravenous drug use I think.

It's great the three of you have been open and honest. And seem to have a plan. Good luck!

debtfreeoneday

Well done you for taking hold of the situation and dealing - you sound in a positive frame of mind and I think having a plan always helps with that. Good luck

Mrs_Cheshire

1 Day, thats great news that you are able to clear your debt and help your parents out!

Upsidedown_Bear

1DayAAT wrote: »

Last week, my mother in great distress came to tell me that her and my father were in a bit of financial trouble. Due to some health complications, terrible economic status and a general run of bad luck in other ways, they had fallen behind on their mortgage payments. My mum had been keeping this to herself in the hope that it would all improve but it had got so critical that she decided it was time to tell me and my dad (who was also unaware - mum does all the banking).
My dad works full time on a salary of about £30,000 and is about 6 years away from retirement. My mum cannot work due to health problems and does not receive any income at all. They own a house in Surrey worth about £250,000 but have fallen behind by about £50,000 in repayments over a few years, meaning 20% is now not paid off as it should have been. My mum had also exhausted a £20,000 savings pot they had from my grandmother as a gift a while ago. Due to my Dads age, time is of the essence in clearing the mortgage, so to cut a long story short and after a big session of spilling out all our shared financial worries, it has been agreed that I will take out a mortgage of about £60,000 (25yrs) to both help them out of their situation (due to being younger, good credit, secure income etc, this mortgage should be viable) - and also to take a step towards a financial investment for my own future, ultimately owning 20% of their house formally. When this is approved, they can pay of the 50k they owe to their lender and I will begin the repayments to mine.

Can I suggest you ask about this on the Mortgage and Endowment board as there are some very knowledgeable people who post there?

http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=15

From what I understand it is not possible to take out a mortgage on someone else's property.

fyggy

I've replied in the quote in orange

1DayAAT wrote: »

Sorry for being thick, but what is LBM?
LBM - Light bulb moment

Yes, I am on a great medication now (Venlafaxine) which I started in October and have reached a dose now that really seems to be helping me greatly. Prior to that I was on another one which I can't spell, but whilst it helped with my mood, I was extremely tired all the time. I have had 2 serious nervous breakdowns this year - both linked to my gambling addiction and financial worries, but escalating into major depression and anxiety disorders and on top of this I have Aspergers Syndrome so find much of life challenging. Thankfully both my GP and my job have been great and I am going to be receiving some tailored Aspergers support following a meeting scheduled for January.
My friend who also suffers with depression also has Aspergers. He says his case is mild. He struggles with reading people's facial expressions and tone of voice- I.e. I usually just tell him if I'm being sarcastic etc. My Mum is on Venlafaxine too and finds this one most helpful after trying three others before. The tailored support sounds great. Now you have the diagnosis then you can work from there. Perhaps they may be some support groups too you could join or get more info and support from?


Thanks for your post fyggy!

You're welcome. There are some posters with some information on mortgages above, I lack in that knowledge!

1DayAAT

I should clarify that the house will be re-mortgaged with my father (who owns the house now) remaining as joint owner and me as a second owner.