help deep in debt

mspig

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Little_Miss_Winner

Hi mspig,

Sorry to hear about the problems you are having.

You don't say whether you work? If not, would it be possible for you to get a job?

How much a month do you have coming in/going out.
You need to sit down and work these figures out so that you will be able to see at a glance if there is anyway you would be able to save money, so that you can meet your monthly repayments?

Where is the money that your husband borrowed to be self-employed. I know you say that he wrapped up the business, but are there no tools, furniture etc?

Please don't get too stressed, the experts on here are great and will give you tons of free advice as to what you can do next. You have made the first step in posting your problems, so well done!

Congratulations on your pregnancy, I know hard hard it is to be a mum of 3! (But its well worth it)! :T

scheming_gypsy

when you took out the mortgage didn't you take out any illness cover? and if so doesn't it cover nervous breakdowns?

delboypass

Lets see
You got your council house for a fraction of the cost of a house today and your still in debt???
Why are you asking to be rehoused when you already own a house.
i thought once you had chosen the right to buy then the council wouldnt touch you with a barge pole as they believe they have already served you. To stop people reapplying after selling and buying another council house etc.

delboypass

Perhaps you should also think about not having kids if you cant afford them.
This country has to start learning that Kids are not a luxury.
I know this may sound a bit harsh but people are just getting bailed out by the government

TimC

delboypass wrote:

Perhaps you should also think about not having kids if you cant afford them.
This country has to start learning that Kids are not a luxury.
I know this may sound a bit harsh but people are just getting bailed out by the government

Ease up delboypass - I thought you'd have stopped jumping in with harsh comments after 'Jack Brown's ' thread - your subsequent posts have contained great advice - what happened? mspig has two children already - your comments aren't dealing with the problems posted.

mspig - like pot'o'gold said you need to list all of your debts, and who the creditors are, with interest rates, along with your income and current outgoings - then the knowledgeable posters on here will be able to offer you advise on whom you should contact, and most likely outline some options.

The first step is already taken - admitting the problem - good luck!

BWZN93

TimC wrote:

Ease up delboypass - I thought you'd have stopped jumping in with harsh comments after 'Jack Brown's ' thread - your subsequent posts have contained great advice - what happened? mspig has two children already - your comments aren't dealing with the problems posted.

mspig - like pot'o'gold said you need to list all of your debts, and who the creditors are, with interest rates, along with your income and current outgoings - then the knowledgeable posters on here will be able to offer you advise on whom you should contact, and most likely outline some options.

The first step is already taken - admitting the problem - good luck!

RE: Delboypass - It would appear that he likes to abuse people, probably without ever having experienced this kind of problem in his own personal life. I agree that his subsequent posts were helpful in the Jack case, but it seems his logic is to abuse people, and if they come back, then they must be genuine or something. Clearly, not a sympathetic person, and I hope to god he never ever works for the samaritans or suchlike. Incase you are reading DelBoy - what are you trying to achieve? Once people are on the edge, they come here for help, not to be pushed over by an insensitive idiot who is either on an ego-trip or has an over inflated sense of self.

Back to the OP, I sympathise with your problems, my current partner, whilst he has not had a breakdown or anything, is having some extreme difficulties at the moment caused by his family, which isnt helping the depression he suffers from and is causing difficulties between us as I am carrying the burden for both of us.

It would be a good idea to gather up all the information you have about your current debts like finding out what you exactly owe (how much left to pay back), how much you pay per month, apr's etc etc, and work out your budget using the planner on this board. Definately post them here so we can try and identify any areas that savings can be made, and it would be a good idea to telephone the local Citizens Advice to get an appointment. As far as I am aware, it usually takes a few weeks to get in to see them so it is worth getting one now, and then collecting all the information you need to take with you after.

I dont really have any great advice at present, but Id recommend trying not to panic too much, at least you see the problem and are willing to sort it out, as it definately is a big first step. Once you have a full black and white list of everything, then you can begin to sort it, without constantly panicking. It seems odd, but with debt, it is better to know exactly what is going on than having sleepless nights but never really dealing with it.

Good luck

Jo xx

Former_MSE_Controller2

Can we leave the judgemental comments out the thread please. Given that noone knows the background of the OP, they are unwarrented. It would be far more helpful to answer the questions posed by the OP.

thanks

Xbigman

What is on the house now? Is it 69,500 in one place as in a remortgage or is it three separate debts? This will have a big impact on what benefits you can claim. Also, how much is it currently worth? Is there equity available? You might have to sell and then rent. If you can supply a lot more background it would be helpfull.
Regards



X

elona

Just a quick note to reassure you that people like delboywhatever and his abusive and insensitive comments are very rare on this site.

Good luck with your pregnancy and I hope that things get better for you.

You have already made a start by posting here.

Dammam

I'm afraid that my post isn't going to help you (but at least it isn't going to abuse you either). I feel that you may have missed a trick to a certain degree - you say you took an extra £25,000 because the house needed a lot doing to it - I thought that the council had a responsibility to bring the house up to standard before selling. I had a friend who did just that - always had a lot of savvy on the cash front, got the council to do up and modernise everything before he bought - later sold up at a decent profit. I'm only saying this as a possible pointer to anyone else considering going down this route.

Have you spoken to your mortgage company about the possibility of a payment holiday? They really don't want to throw anyone out on the street and will probably try to help out. As asked above, do you have any equity in the property? How much are your payments and what is your income?

It really isn't as bad as it seems right now. Once you have got everything written down in front of you and posted up here, you will get plenty of good advice and plenty of options about how to proceed. Rather than looking on this as a realisation that everything has gone down the pan, look at it as the first step to getting sorted. You are at the lowest point right now, everything you do from here on will give an instant improvement to your current financial difficulties and set you on the way to future stability. In many ways, you are probably right now at the strongest point that you have been for a good few years! You can grasp this situation now and take control. Be empowered, be positive, be strong.