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To buy or not to buy?
Comments
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Oh & Inside Track are considered, in this part of the woods anyway, little more than conmen."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Penny_Racer wrote: »I've let them all know. I've drawn up a full and final settlement ex gratia payment to them all. But they have all said that they want more than I have.
On your thread about making a full and final settlement I note you offer your creditors 25%.. it's seems like you are in a position to offer slightly more than that now??0 -
Penny_Racer wrote: »The fact that you recently even considered Inside Track just reinforces this fact.
Sorry Catblue, Can you explain why this makes me "not much cop at managing finances"?
http://www.guardian.co.uk/business/2007/mar/02/money1
http://www.thisismoney.co.uk/mortgages/buy-to-let/article.html?in_article_id=426200&in_page_id=56&in_page_id=1
http://forums.moneysavingexpert.com/showthread.html?t=59362
And loads of other threads on here.
You mentioned that you relied on "gut instincts" to steer clear of this firm, whereas you should have made an entirely rational decision based on cold, hard facts that are freely available in the media and on the internet.
No gut instincts about it. In the position that you are in, you should try to make decisions based on facts, figures and thorough research that's all I was trying to say.
Sorry if it came across as me having a go at you. It wasn't intended, honestly.
I do hope you manage to sort out your situation. Good luck!0 -
£48K in debt and thinking about entering the BTL market.
Classic MSE.
You couldn't make it up!
I love this site.dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
Yes, I started with 25% then went up to 50%. Still no one accepted. I have read so many threads on here about companies accepting less than 50% of the debt. I can't understand it.
I wanted to use my money to pay off the smaller debts but I have been advised not to favor any of them? Not sure what to do next.
The idea of buying the house was to make a bit more money so that I can pay them ALL off.
Any suggestions?0 -
Putting your money into a BTL is always going to be a gamble - and in the current climate the odds are stacked against you...
As with any gambling - don't bet what you can't afford to lose!!0 -
P.s dolce vita.
Instead of taking the P*** could you not offer some constructive advise?
It takes a lot to face up to your mistakes and then put them on here where everyone can see.
All I'm trying to do is put wrong my mistakes which is why I've come on this site to ask for some advice.
Perhaps you should find your owner so they can return you to your cage.0 -
I actually meant put right my mistakes...........not wrong!0
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Okay,
How do you intend to finance this house? Have you approached any mortgage lenders yet?
Do they know about your current financial situation?0 -
moneysavinmonkey wrote: »Putting your money into a BTL is always going to be a gamble - and in the current climate the odds are stacked against you...
As with any gambling - don't bet what you can't afford to lose!!
On t'other hand if you're already in hock for £48k (£24k net), why not add to it if some muppet is willing to lend you the money. You can't really lose, can you? The worst that happens is you go bankrupt."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0
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