Mortgage payment difficulty advice
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Beginning to wonder if this is a wind up.
The OP says he is overspending by £700 each month, but cannot live without a £45.00 Sky package.
Seems to be a case of "Head In Sand" syndrome.
Good luck though.
I suppose that you either regard football as an "essential" or you don't. I regard Sky as the pared down expression of that. Last season, when I had more income, I attended as many live games as I could (which with tickets, travel and a meal for my wife and myself was around £200 per game).
Before the smoking ban, I also watched all live Arsenal games in the pub. Christ knows how much that cost in terms of beer.
Getting Sky/Setanta was the extreme cost saving measure. I'm sorry that you don't understand; but there are hundreds of thousands (perhaps millions) that do.0 -
A good measure of how bad things might be getting is to add up all the debts, mortgage CC, loans etc.
How much has the total changed in the last year and each of the last 6 months and estimates for the next 6months.
This will give you an idea of how much you are really overspending.0 -
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getmore4less wrote: »Looks like you have been drawing too much money from the business if it is in debt and does not have enough money to keep the the web services going.
You want enough to at least keep it going for as long as you have commitments or the time it wouldd take to wind it up if no work came in say a years worth of running expenses.
Yes, the business is essentially bankrupt. The website and online backup costs are fairly minimal but the ADSL (which I also use personally/professional) and insurance are rather expensive.
If I wound the company up then I would no longer be in a position to seek the work I do, so I certainly wish to keep it going for as long as is possible.
I don't know if I could cancel the insurance (or some of the insurances) in order to save money. I'm currenty carrying Professional Indemnity (£500,000), Public/Product Liability (£1,000,000), Employers Liability (£10,000,000) and Business Contents (£10,000). Although the figure is the second lowest, the Professional Indemnity is the most expensive.
I may have legal obligations for some of this cover and there may still be claims against some of them (because this can go back years). I don't currently know if having been insured for the claim period is enough or whether I have to continue that cover.0 -
I just get the feeling that you're hoping this will all go away without you having to change your lifestyle, and that isn't looking too likely.
Yes, that is precisely what I'm hoping. I accept that there is a high chance that my hopes won't materialise but the level of pessimism surprises me. When you say “that isn’t looking too likely”, what evidence are you basing your assessment on? The current lack of employment opportunities? The fact that I’ve been looking for nearly 3 months without success? Clearly there may be some probabilistic correlation between the amount of time spent searching and the chance of finding but I’m certainly not clear as to that connection. After all, what are my chances, say, of getting in job within the next few months? 99%, 1%, somewhere in between? I don’t really know. All I can do is consider my skills, the apparent current demand for them, a reasonable knowledge of the marketplace within which I’m operating, conversations with various domain experts etc.0 -
Yes, that is precisely what I'm hoping. I accept that there is a high chance that my hopes won't materialise but the level of pessimism surprises me. When you say “that isn’t looking too likely”, what evidence are you basing your assessment on? The current lack of employment opportunities? The fact that I’ve been looking for nearly 3 months without success? Clearly there may be some probabilistic correlation between the amount of time spent searching and the chance of finding but I’m certainly not clear as to that connection. After all, what are my chances, say, of getting in job within the next few months? 99%, 1%, somewhere in between? I don’t really know. All I can do is consider my skills, the apparent current demand for them, a reasonable knowledge of the marketplace within which I’m operating, conversations with various domain experts etc.
No offence, but if I was your wife I think I would be just starting to get a bit peed off with supporting you in the lifestyle to which you have become accustomed. Nothing wrong with a positive attitude but you do need to plan for the worse rather than just telling yourself something will come up.0 -
Just out of interest, but what cars do you both drive and are they paid for?0
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Yes, that is precisely what I'm hoping. I accept that there is a high chance that my hopes won't materialise but the level of pessimism surprises me. .
From the outside looking in, your situation looks fairly worrying. There's no problem in hoping that things improve, and working towards that, but it is vey dangerous to continue living a life you can't afford. You need to presume that you won't find work soon, live on your wife's wage and when things do improve, build up a safety net for yourself so as you're not caught out again.0
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