First Steps to Solvency

RelievedSheff

Hope the valuation goes well for you. 

ladyholly

Hope all goes well today. 

alt80

Thanks both. Won’t find out today. He’s not acting for me only interested in the banks money. 

As predicted rubbish nights sleep. Wife totally chill about it whatever will be will be. Home life is better without hiding stuff and lies tbf something good has come out of losing my ftype and being on the payback. Not through amazing circumstances admitted - would have been better had I not got into any of this mess and sorted the home life out without a load of debt and PGs hanging over me. Live and learn eh?

lostmyusername

Sounds like that ‘friend’ had it coming then. Good on you for standing up for your wife. 

You’re making the best out of rubbish circumstances. You’re doing absolutely brilliantly and I don’t think there’s a single person on here who wouldn’t say that their life would have been easier if they hadn’t gotten into the debt to begin with. At the end of the day, this crappy experience will help you grow and improve as a person - no matter how little you want to do it!

alt80

Well it’s done not holding out much hope tbh had the guy value one of mine before ended in a massive email war lol. Got nowhere and wound up refinancing with a different lender. So I’ll see what happens.

Glad the shops aren’t open!! Even if they are I wouldn’t know have avoided town. Avoided anything else I want to do right now too. Massive downer until I find out already know sleep is going to be terrible and anger at about a 7 now, more like 9 earlier they had to send him ha. Promised wife I’m not going to spend any money need to actually stick by my word for once. 

If this doesn’t work out I’m going to be spending the coming months living on credit to get by. Not what I want and the payback is going to be longer if the worst happens. 

RelievedSheff

All fingers and toes crossed for you. 

Retireinten

You need to hang in there and ride things out over the next few months... and as you say, not revert back to bad spending habits!

It sounds like you're already expecting the worst so why not start to plan out your next steps on that basis...  once it's down on paper, it may well seem less daunting and it might actually help you get some sleep! Just a thought! 

I read your initial thread and you've really come a long way since your first few posts. The changes you have made in the last few months have the potential to ensure you and your family have a very financially comfortable future.  You clearly have a knack for making money and whereas you might be thinking 'it's not enough' let me state what is obvious to everyone else: you are a very high earner compared to the vast majority of us mere mortals and you are a successful business owner with the potential to do so much more professionally and personally - IF you can control your spending! 

So, whatever happens with the surveyor, you can ge through it! 

alt80

Thanks @RelievedSheff. 

Hopefully it’ll work out obviously different deal etc. 

Wonder what the point is in life when all I’ve got to live for right now is paying all this off and maybe having some kind of a future after. Just paying for the past now. Past I want to move on from tbh. Want to get the development block out my life too - wish I’d never got involved with it for lots of reasons and wouldn’t have had I not made a complete !!!!!! up. Realised I can’t carry on letting the interest pile up and time running out whilst I took no action- need to get it finished. Business only going ok because I’ve got good staff, I’ve hardly been coping for years no growth just coasting easy to hide behind the bs image I’d curated not now !!!!!! reality biting really hard. Not sure what I’m going to do if this doesn’t go my way tbh like to think I’ll do the right thing, get the project done. Minimise the use of credit where possible and when sorted pay down as aggressively as possible. Aware I’m just as likely to go on a mental though probably more given my track record.

This sort of !!!!!! is how people bankrupt themselves in property taking on projects shouldn’t have in the first place can’t have too many things go wrong like this and all my fault. 

alt80

@Retireinten thanks. I’ve done the planning based on worst case, been through with accountant etc. Still can’t get my mind off it. 

The spending hasn’t done me any favours agreed just another example of me seeking out stuff to put my energy into rather than the things I should have been doing all along business / family.

Better news on the property side other project is going through. Sister done drawings ready for starting (helps having an Architect in the family). Really looking forward to getting that one started.

Still mega busy with main business too. Instructions coming in all the time so made right decision to employ or seems so right now.

I know I do earn well kind of doesn’t matter how much when you spend a lot more still though lol. Think I’ve realised no amount will ever be enough for me, just need to live with that and realise I have what I have until I get to the point of more. Rather than living for tomorrow when in my head I earn £3k/m month than now etc.

TheAble

alt80 said:

If this doesn’t work out I’m going to be spending the coming months living on credit to get by. Not what I want and the payback is going to be longer if the worst happens. 

I missed out on what the project actually was but why is this make or break? Surely you have sufficient income already not to have to rely on credit?