Debt bint is back

[sasguru]

WGAS anyway?

If she defaults and her house goes up for auction, some canny IT contractor will snap up a bargain.

It's good the BBC are teaching people to be stupid so that others with a clue can benefit.

Aye. I'll make her an offer

[martinb]

Lets get this in perspective.

She has 2 buy to let's, a family house, and a restaurant. You are telling me she can't get rid of one of them to release some equity and pay off the rest ?

All she is doing is burying her head in the sand, desperatly trying to sue some company for terminating her contract (dumb dumb dumb, you WILL lose) when she got pregnant, as is thier right (You are a freelancer not an employee you stupid cow) and moaning to everybody that the world is so unfair because she can't afford to pay for her 3 properties and that all the banks should cut her some slack and not expect the money owed to them.

As far as i'm concerned she got herself into the position and she has the option to get herself out of it, so no sympathy here.

Couldn't agree more. Simple fact is she's trying weasel out of paying debts that she doesn't WANT to pay. Its not a case of isnt ABLE to pay, its a case of doesn't WANT to pay. OK, so she is asset rich and cash poor, but now's the time to cash in the assets whether she likes it or not.

I don't see why others should pay more interest, fees etc just so that companies can right off her debt.

Thats not to mention she is suppsoedly a "freelance IT contractor" who is suing "her employer". Clearly doesn't even understand what a contractor is.

Let's hope her freelance work isn't project management - any project she manages is doomed.

[AtW]

She can't sell 2 houses because she won't make any profit from them after so much hard work etc. Her only hope is that morgage company won't move in as hard as they usually do due to her BBC public status plus new born baby, but I think this is a miscalculation on her part just like other stupid things she did.

[wendigo100]

She can't sell 2 houses because she won't make any profit from them after so much hard work etc.

I disagree. She might lose money on the deal, but she can sell them.

[Ardesco]

So sell the restaurant, commercial properties big enough to be a restaurant will be in the value bracket of £500,000 anyway and everybody wants commercial premises with health and safety approval to do something with food.

Lets face it the restaurant is obviously not bringing the money in or they wouldn't be having problems.

[Pondlife]

From the beginning.

To buy the restaurant, my husband and I had to re-mortgage the family home and my two small buy-to-let properties.

Huuuge business risk

In November 2005, I became pregnant as planned.

Why plan a pregnancy with that much risk around?

Financially things seemed to be fine. Restaurant takings, after the earlier problems, had recovered.
But by late February our restaurant business began to show signs of struggling.
My bank advised I take out a personal loan in my name, which I accepted in desperation.

Nothing to do with pregnancy or IT contracts

Soon after, my contract came abruptly to an end.

Still nothing to do with the pregnancy at this point, basically sacked

I managed to find another temporary job, but when I told them that I was pregnant they gave me my one month notice.

What do you expect from temporary employment

From late May I will no longer have a job and the debts are getting on top of us.

So already 6 months pregnant at this point, so even if she could work right until the point the sprog dropped it's 3 months temp work she's lost. FFS

[GreenerGrass]

Surely when they repo her property they are likely to sell it at a discount, especially if it goes to auction.
Then she really may face negative equity, rather than take a small profit that could help clear her debts.

"And my other mortgage lenders are threatening to do the same."
So is she not getting rent from her BTL to cover the mortgage? Double reason to sell if its a liability.

[Numptycorner]

The Kensington Mortgage group will have her house very very soon, mark my words!

[AtW]

I disagree. She might lose money on the deal, but she can sell them.

It is her point of view and I tend to agree with it - apparently with all fees included she will just end up with no extra houses but with extra debt on top. It is not like she got much choice though - it is suprising that she did not plan in advance to have enough cash in bank account to do without work while being pregnant. IMO any freelancer should have at least 2 years worth of cash, better more.

[Diestl]

2 Years?, if I was out of work longer than a few months I Would look at taking anything.