Finally Debt Free After 34 Years, But Still Need to Live Frugally

milann

I’m with you for trying to pay rent in advance rather than acting for guarantor for people you don’t know. You could end up liable for thousands :eek::eek: I’d be on pins all the time he was living in the house.

What is this sunshine you speak of - we have been in a cold wet playground - both at morning play and over dinner time. I’m mightily fed up with it

HairyHandofDartmoor

Noella wrote: »

Thanks for your kind comments after I posted those 2 long diatribes (I think that's the right word) earlier. Thanks too to Beanielou about the refund. I'll definitely persist with it. Thank you both:T

I agree with Beanielou about the agreement. It's put you and DH in a very difficult position so I can understand how you feel you might be letting your son down. Didn't you mention before that one of your other sons might pay upfront or something? Would that mean he was liable if anyone defaulted though?. It's a lot of money to lose however much savings anyone has. I don't envy you all having to sort it out for the best for all concerned. Sending hugs.


Thanks for your reassurance that your health is OK:T. No wonder you had a headache after that mammoth journey especially having to drive some of it in London:eek:. I get dehydrated on long journeys too for exactly the same reason of needing to find loos:( so I understand what you mean .I hope all the stress over DS's tenancy doesn't result in another headache and a sleepless night.

Thanks Noella . The tenancy situation is very stressful .

teafor2 wrote: »

I've just replied to your comment on my diary HHD and asked how it was going with DS's lease - now I know

I'm afraid I wouldn't be willing to sign it either. I've said before people don't even like being guarantor's for people they know let alone 3 people they don't. I'd be stressed out for the whole year as well.

I think it's easier not to feel you're letting DS down if you have an option to pay up front, although that's not so great if you can't come up with the funds.

I'm really surprised the lease is common because I'm finding it hard to think anybody would be happy to sign something like that. What percentage of the 6 months would DS's first maintenance grant cover and what percentage would that leave you to find? xx

His rent is £500 a month, so six months in advance would be £3000. We could take that from our EF and DS3 reckons he could pay it back from his first loan payment in September.

I don't really to want to spend over half our EF but that would be preferable to having this awful guarantor thing hanging over us. We would be liable for six years after the tenancy ended and even death or bankruptcy wouldn't release us from the obligation :eek:. I don't know if the other parents have signed yet. It seems complete madness .

But what if they say no they won't accept six months rent and it's sign the agreement or DS3 won't be allowed the tenancy? He would be very upset and would have to find somewhere else to live at short notice and wouldn't be with the people he likes . It's a nice house and right next to the campus.

HairyHandofDartmoor

milann wrote: »

I’m with you for trying to pay rent in advance rather than acting for guarantor for people you don’t know. You could end up liable for thousands :eek::eek: I’d be on pins all the time he was living in the house.

What is this sunshine you speak of - we have been in a cold wet playground - both at morning play and over dinner time. I’m mightily fed up with it

I know, the liability for four tenants could be £24,000 for the year for rent alone (assuming none of them paid rent for a year), let alone potential damage to the property :eek: . I feel massively stressed about it now .

I'll try and send some of our sunshine you way .

teafor2

Blimey, HHD, liable for 6 years after is ridiculous. If they let you pay up front I'm assuming that gets you out of being guarantor and that part of the lease?

It's not just about them not paying either, things change. I've just said on my diary how out of the 7 that started with DD, only 3 of them are still really on track. What if somebody decided it wasn't for them any more and gave up?

I can understand you not wanting to dip into the EF but it really sounds your best option especially if DS can pay you back in September. I really hope you can get it sorted to everybody's satisfaction. DS moving into somewhere he likes and with people he gets on with is important. xx

beanielou

Liability for 7 years.
No one in their right mind would sign that.
I cant believe anyone would.
Speechless.

HairyHandofDartmoor

teafor2 wrote: »

Blimey, HHD, liable for 6 years after is ridiculous. If they let you pay up front I'm assuming that gets you out of being guarantor and that part of the lease?

It's not just about them not paying either, things change. I've just said on my diary how out of the 7 that started with DD, only 3 of them are still really on track. What if somebody decided it wasn't for them any more and gave up?

I can understand you not wanting to dip into the EF but it really sounds your best option especially if DS can pay you back in September. I really hope you can get it sorted to everybody's satisfaction. DS moving into somewhere he likes and with people he gets on with is important. xx

I agree it's a ridiculous contract . If one of his friends got depressed and dropped out and didn't pay their rent, we and the other guarantors could be liable for their rent for the year . I know the liability would be shared between the four parent guarantors in theory, but it seems like a risk.

I really hope that the agency will let DS3 pay six months up front and then we won't have to sign this ridiculous guarantor agreement.

I feel so stressed I could cry .

abba1772

That's a great commitment jobway would I sign it..........fingers crossed they agree to the upfront payment cc

teafor2

Aww I can understand how frustrated and stressed to the point of tears you must be - we just want to help our DC's as best we can don't we. Try not to fret about it too much until you know for sure what the answer is - easier said than done I know, but we're all here for you. xx

HairyHandofDartmoor

beanielou wrote: »

Liability for 7 years.
No one in their right mind would sign that.
I cant believe anyone would.
Speechless.

abba1772 wrote: »

That's a great commitment jobway would I sign it..........fingers crossed they agree to the upfront payment cc

It seems insane doesn't it?

HairyHandofDartmoor

teafor2 wrote: »

Aww I can understand how frustrated and stressed to the point of tears you must be - we just want to help our DC's as best we can don't we. Try not to fret about it too much until you know for sure what the answer is - easier said than done I know, but we're all here for you. xx

Thank you TF2 . We'll just have to wait and see what the rental agency replies. I'll try not to think about it but it's not easy .