Quit everything , and start again over 50?

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  • another_casualty
    another_casualty Posts: 6,506 Forumite
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    Thanks smodlet
    I'm on a dmp . Probably the reason . Have a vanquis credit card since July
    £1000 limit .
    Is it worth asking for an increase in that ?
    Looks like I'll have to get a loan for someone on a dmp .
    Annoying really ,as an increase in overdraft for 2 weeks seems the logical way of doing things .plus they get interest from me
  • Smodlet
    Smodlet Posts: 6,976 Forumite
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    Just been back to check, knew I didn't dream it: Sourcrates posted on your thread the other day, #2175. Maybe you could PM him (I think sourcrates is a him) He gives brilliant debt advice and is up for board guide, y' know (hope I haven't jinxed him!)

    Sorry, AC but I am no expert and am out of ideas. From what I've read, sourcrates has been there, done that and bought the tee-shirt when it comes to debt and getting out of it. Strongly recommend you ask him for advice.
  • another_casualty
    another_casualty Posts: 6,506 Forumite
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    Thanks smodlet
    He is indeed. I've often read his good advice :)
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,594 Ambassador
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    You should get the balance of your money on the day of completion so can you not pay the removal company after you have moved. I don't think we have had to pay up front before.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,594 Ambassador
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    Also £5000 seems steep considering you have solicitors fees, estate agents costs coming out of sale proceeds. You will need a deposit for your rental place and if your removers insist on money upfront. That together should not come to £5k. Everything else can wait until you receive sale proceeds on day of completion.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • Smodlet
    Smodlet Posts: 6,976 Forumite
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    The removal firm will want a deposit in advance, though, to secure the van/labour for that day. This is why you should get quotes, AC, so you know what costs you have to cover before you get the sale proceeds instead of guessing. I think that is what you have been doing, up to now.
  • another_casualty
    another_casualty Posts: 6,506 Forumite
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    Basically need money for deposit for flat to rent plus 1 months money plus unexpected things that may appear . It's been thought through . Not additional costs.reason I say £5k is to act as a cushion .
    All accounted for .
  • lessonlearned
    lessonlearned Posts: 13,337 Forumite
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    Would the bank accept a letter from your solicitor after you exchange to confirm that your purchasers' deposit is being held in their client account.

    What about your final salary payment......would that be through in time.

    If you really can't get your hand on funds then maybe stay at your brothers place for one or two nights. Then hotel for few days until you can sort out your rental.
  • copperjar
    copperjar Posts: 884 Forumite
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    Wow great news AC! Congratulations:) We are signing our contract on Tuesday, hope exchange next week then complete 10th! It all happens so fast.

    We haven't had to pay removal company yet - pay on the day. If you are using your brothers mate with a van I'm sure he won't expect you to pay upfront. Not sure how rental property goes but if you find somwhere and want a start date of completion day, can you pay the fees and first month rent on that day? Have you seen one you like yet and asked the process?

    Really excited for you. Lists are your friend - get some started so you don't get overwhelmed
    [STRIKE]
    Total debt 1.11.10 £23,446
    [/STRIKE]
    Save £6k in 2015 #129 £6121.66/£6000
    Save £6k in 2016 #39 £6000/£6000
  • Smodlet
    Smodlet Posts: 6,976 Forumite
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    AC and copperjar, I wish you both the very best for your moving days. Please, let us know how it goes.
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