Oh my God I'm in such a mess with my mortgage - please help

_Andy_

Married_Mum_of_2 wrote: »

It was a HUGE mistake, our biggest to date! We were living next door to rowdy South Africans

Why on earth is the nationality of the neighbours relevant? If they were English I wouldn't imagine you'd have put 'next door to rowdy English people'.

Horace

I feel that I have learnt a lot from the OP especially with regard to my own impending self-employment. I have learnt not to over-extend myself and only make limited drawings (i.e. enough to pay the rent on my flat and a few household bills - £995 a month will suffice), the rest will remain in the business, only when it starts making a profit will I increase my drawings enough for me to buy a house to live in.

In my opinion Crime Doesn't Pay and there is no way that I will owe the tax man or the VAT man anything nor will I steal from my business.

Thanks OP I now know how not to run a business or my life:T

Snooze

PasturesNew wrote: »

Thanks for taking the time to come back and let us know.

Good luck with that.

:rotfl:

I've read some sarcastic posts in my time but......

Rob

Dithering_Dad

Horace wrote: »

I feel that I have learnt a lot from the OP especially with regard to my own impending self-employment. I have learnt not to over-extend myself and only make limited drawings (i.e. enough to pay the rent on my flat and a few household bills - £995 a month will suffice), the rest will remain in the business, only when it starts making a profit will I increase my drawings enough for me to buy a house to live in.

In my opinion Crime Doesn't Pay and there is no way that I will owe the tax man or the VAT man anything nor will I steal from my business.

Thanks OP I now know how not to run a business or my life:T

Come now Horace, surely you didn't need the OP to post this before you realised that taking all of the money out of your fledgling company and spending it, is a bad thing?

neas

I feel sorry for your plight but... sweet jesus.

a 400k house... with a start up business and a stay at home parent?

Where in the world is financial sense?

I mean... instead of selling the house you rent it out at a loss.... you take loans out to further fuel your lifestyle.

1: Learn before its too late...
2. Get a part time job.... move to a 'bad area'... rent for cheaper!
3. Get a hold of your finances.... in that you must've known this wasn't sustainable.

What does your husband do that will generate post tax earnings of 3000+ pounds a month? oO. At the moment your spiralling round the drain...

If you cant afford something dont get into debt over it, now your children will have to live in squalor.. because you weren't modest about the size of a house.

Im guessing your house has 2 bathrooms,.... maybe ensuite... each child has a large bedroom... and every toy they wanted. But you couldnt afford it!.

Now do people realise why the housing market is up !!!! creek? This bankruptcyt debt will lead to increased mortgage rates... because of your defaults.

If you go bankrupt your jusband wont be able to get business loans and will be working flipping burgers.... Not many solutions to this.

Dithering_Dad

neas wrote: »

If you go bankrupt your jusband wont be able to get business loans and will be working flipping burgers.... Not many solutions to this.

Holy cow, I didn't realise that 'flipping burgers' was a requirement of the bankruptcy proceedings!

Do they march you off to McDonalds directly from the court, or is this new career something the Offical Receiver sets up?

loveandlight

I doubt very much whether you are still reading these posts after most people here have had a go at you and torn you apart. You are brave because I wouldn't have even had the nerve to post up a financial problem as I know how vicious a lot of people have become on this board nowadays which is why I hardly bother reading it anymore.

You do have a solution to selling your house quickly and it does not mean selling it at a heavy discount.

I have sent you a pm about it and hope you will read it because there is a way out of your situation and it is being done every day.
Best wishes.

neas

loveandlight wrote: »

I doubt very much whether you are still reading these posts after most people here have had a go at you and torn you apart. You are brave because I wouldn't have even had the nerve to post up a financial problem as I know how vicious a lot of people have become on this board nowadays which is why I hardly bother reading it anymore.

You do have a solution to selling your house quickly and it does not mean selling it at a heavy discount.

I have sent you a pm about it and hope you will read it because there is a way out of your situation and it is being done every day.
Best wishes.

What solution, I'd be happy to hear this one...

seven-day-weekend

I thought the purpose of this site was to help people deal with their financial affairs, not berate them for getting in a mess?

OP, I think you either have to move back to your house or sell it, with selling it and taking the loss being probably the best option.

Then try to get a part-time job, even if it's delivering papers, or Avon, or anything else that will fit in with your small children and pay everything towards the shortfall.

Hope this helps.

mlz1413

_Andy_ wrote: »

Why on earth is the nationality of the neighbours relevant? If they were English I wouldn't imagine you'd have put 'next door to rowdy English people'.

No your right the post would probably have read 'next door to a load of chavs' :rotfl: