Don't want to be 'Together' anymore!!

Thrugelmir

Kodagirl wrote: »

Not sure my sig is clear enough, my car loan is £9094 owing, top figure is what I borrowed,

What a lender is going to see is somebody that spent £17k (plus interest) to buy a car. When they already had a long term unsecured loan to clear other debts. Tells them the sort of person you are when it comes to personal finance. The question then is do you meet their profile of potential borrower.

Kodagirl

Thrugelmir wrote: »

What a lender is going to see is somebody that spent £17k (plus interest) to buy a car. When they already had a long term unsecured loan to clear other debts. Tells them the sort of person you are when it comes to personal finance. The question then is do you meet their profile of potential borrower.

The 17k includes the interest, the other unsecured loan, is part of my Northern Rock Together mortgage, due to no deposit, it wasn't used to clear any debts, the extra was used for the house, needed quite a lot of work doing I had rising damp, I had to replace windows and doors, and I bought some furniture as after my divorce I had nothing.
When I initially got the car loan, I didn't think of the unsecured loan to be honest, all I see is my mortgage payment going out every month, as a whole, I didn't think it would classed as a separate loan, but now I do!!

MortgageMamma

You have to keep doing what you are doing, focussing on getting the debt reduced, building up what you've got in terms of equity savings and posessions. I've been divorced twice the first time I lost everything including my home and furniture, the second time I'd lost my business in the 2008 credit crunch and there were no assets left to split. Its taken me since then to pay off my debts (£45k unsecured which I could more than afford at the time!) and get back on my feet in terms of posessions and assets. The good thing about ending up on ones !!!! financially is lessons are learned and you come out of it mentally stronger and more determined. Now I have quite a strong interest in debt and how it affects different people psychologically, its almost a morbid fascination! I think it missed my calling in life too late for the psychology but I can still help people so all is good!

Kodagirl

Bloodyhell, MortgageMamma, you have done so well. I've been in one long term relationship, and one marriage, both I lost the house, basically because I couldn't have afforded them on my wages alone. When I got divorced, I had enough to pay of a loan that I had got us for a deposit on our matrimonial home, he's still in it with 2nd wife, I also cleared outstanding balance on last car, paid my solicitor bill and that was settlement gone. I lodged for a year, with a work colleague, finding someone that would put up with me, and my then, Golden Retriever, wasn't easy, I also paid to have my 2 cats board in a Cattery for a year.
I bought when the market was in full swing, all the houses I wanted were going because my situation was dragging out, I lost 2 this way, so even with the things needing doing to mine, I still went ahead.
You know what it's like, I moved in with a cheap bed, that's it, now I look round me now, and think, bloodyhell, it would be a nightmare, if I was to move now!!
However, I've worked hard at paying my debt, like you, and I will continue to do so, until the !!!!!! has gone!!! x

Btw, it's ever too late!!! ��
Btww, I'm never losing another house to another man!!!

MortgageMamma

You've done amazingly as well it must have been hard on you separating from your cat as well. When I lost my second home in the credit crunch my Dad offered me £10k to buy another but I chose NOT to buy again I have rented for 8 years now. I don't like it but it gave me the time and financial support to get over a long term illness and get my youngest into school last September. I'm mega motivated now with saving, I'm 40 in April and I'm conscious I've got a bit of catching up to do but saving with 4 kids 4 cats 1 dog and a husband whose business is slowly dying is really hard!