Heavily in Debt!!!!! Advice please

bluezone

Morning everybody,
Feeling a bit tired over the weekend but have raised an extra £115 doing bootsales over the weekend and worked 12 hours @£5/hr up the pub (so thats approx £53 after tax etc), this giving me a total of £168 for the weekend. I have got a consultant coming round - for free, to see if they can reduce our mortgage payments by swapping companies etc. I am also covering for other staff this weekend up the pub - fri night 7-12, sat 1.30 - 12, sun 5 - 11.30 (22 hours - i am thinking of the money now!) I have also asked for any extra shifts that become available. I would do extra work at my full time job but no overtime available which I would prefer as it is more money but hey....
Have thought seriously about selling but we couldn't afford to buy anywhere else as house prices have shot up - we couldn't even afford to buy ours if we were looking at the mo!
Due to the amount of work this weekend hubby and I havent exactly had the chance to sit down and talk. Hubby is taking things a bit more seriously at last and has a couple of big jobs over the next couple of weeks so will be working all weekend as well to get them done. He has got to find a temp labourer though as his one decided to go out, get drunk, and drive his bike into a parked car and has ended up in hospital for a few weeks!!!!! It never rains but it pours doesn't it!!!!!!
I feed the cats on Tesco's cat food cos they love it - they are actually not that keen on whiskers, sheba and things like that - tesco's and co-cat are their favs ;-)
Anyway thankyou all for your support? And I will be in touch in a couple of days to let you know of some progress. You have encouraged me not to just give in but to give it my all and even if it means burning the candle at both ends for a while sticking at it to hopefully keep my head and shoulders at least above water!!!!

johannamse

Hi Bluezone,

When I said sell the house, I didnt mean sell and buy again - I meant sell and rent. I know it seems like a step backwards (I dont think so, but this country is obsessed with owning), it is an option. People with such heavy debts sometimes forget that they have options. I know your instinct will be to reject it instantly, but just study the possibility. Hope this helps.

bluezone

sorry got confused by what you meant johannamse, yes that is an option but all hubby's business is tied to the house and all the advertising for his business (costly thing advertising) has that address as well as his sign written van.

Phonix

You know, if you found the right buyer any chance they'd let you pick up your post?

And I really would sell soon, the market is ripe in my limited opinion it would be a missed opportunity.

GIRLPOWER_2

I would say don't sell... work hard..(as you are) go though all martins tips on the site and reduce all your outgoings.. my oibile bill alone has reduced by 100.00 per month through this site... ring the help line numbers listed reduce the interest you are paying by switching and think about the remortgage option.. turn it around you are in a good position.. you have money in the house.... use it you can always pay it of later.. good luck.

doodlebug1_2

Hello everyone, my partner is thinking of filing for bankruptcy and I wonder if I will become responsible in any way for her finances. This has come about due to repossesion of a house 12 years ago.
Thanks Terry

Phonix

I would say don't sell... work hard..(as you are) go though all martins tips on the site and reduce all your outgoings.. my oibile bill alone has reduced by 100.00 per month through this site... ring the help line numbers listed reduce the interest you are paying by switching and think about the remortgage option.. turn it around you are in a good position.. you have money in the house.... use it you can always pay it of later.. good luck.

Just because he'd sell the house doesn't mean he can't do those things before.

I'm not suggesting he doesn't try to reduce his outgoings by following the tips on this site. That would be quite foolhardy to suggest when you consider that he's asking these questions on that very site. It would be tantamount to telling him to seek advice elsewhere and ignore the help to be found here.

It's just that I thought I said something along the lines of "sell the house soon" but from your response anyone would think I'd said something else.

Nickynoo1

Hi Bluezone,

just adding my two penneth. I would definately not remortgage. You would turn insecured loans into secured ones and if things got tricky again your home could be at risk.

You seem to be on a good roll at the moment, working all hours and cutting back. Have you spoken to any of the company's or CAB to try and re-nogiate terms.

Any chance of getting the kids to share a room and get a lodger. If you didn't want a full time lodger, i believe the payments for having foriegn exchange students are very good.

Good luck

Nickynoo1

nelly_2

!!!!!! wrote:

Did you really say that?!?

I'm sure most people would sell their grandmother before selling their cat...


PS I currently have neither

whats the going rate for a grandmother these days?

bluezone

Hi all,
My hubby has a child from a previous relationship and she lives with her mother. We have no kids. We do have the space for a lodger but its finding a reliable one thats trustworthy is the problem - they would be sharing your house. One option is a friend who is trying to sell the house she has with her fella (they have now split up) so there is a chance she may move in as a lodger for a while.
I havent spoken to CAB or the other companies as of yet but if I cant make even the minimum payments next month then I will. So far I seem to be making head way with all the work but it is starting to take its toll!!! - Last weekend I worked 33 hours in the pub and am feeling tired now at my day job. Hubby helped by going fishing!!!!! - will be dealing with that tonight!!!!!!!!!
I am sticking to my budgets and have not done a big shop for a while as we have been eating the food that has been filling up the back of the cupboards and the bottom of the freezer!!!!

I will be reporting back in a couple of days - thanks again