When the money runs out....

[Paddy]

Been on the bench for 8 months now and not long to go before I'm out of dosh and have to start doing juggling act with credit cards.

Anyone know for how long I can get into arrears on my mortgage before they start taking steps to recover the property? I know it varies from lender to lender but I'm single, no kids , living with girlfriend and have about 150k equity in the property.

Was going to talk to citizen's advice but just can't get through - a sure sign of the times!

You need to do something about it now. I have seen too many people in the same predicament as you and then they really become stuck when the credit runs out.
It’s unlikely that you will get a role soon if you have been out for eight months. Contract you credit card companies and get them to allow deferring your payments without adding interest. Ask your mortgage company if you can make reduced payments and add the outstanding to your mortgage.


Pay your self tax free redundancy from your limited company.
Wind up the company.
Make yourself redundant and sign on for benefits.

If you don’t do it yourself, later it will be forced upon you by your creditors.

[Platypus]

Contract you credit card companies and get them to allow deferring your payments without adding interest.

Have you tried that? I did, they told me to bog off then started threatening bailiffs if I didn't pay.

Good luck with that

[AtW]

Don't use bank overdraft if you got any - bank can ask you to repay it in full at any time...

[OwlHoot]

Been on the bench for 8 months now and not long to go before I'm out of dosh and have to start doing juggling act with credit cards.

Anyone know for how long I can get into arrears on my mortgage before they start taking steps to recover the property? I know it varies from lender to lender but I'm single, no kids , living with girlfriend and have about 150k equity in the property.

Was going to talk to citizen's advice but just can't get through - a sure sign of the times!

If it's that bad I'd consider remortgaging to give yourself some breathing space.

Of course the downside is that will increase your mortgage payments, and they may not agree anyway.

[Olly]

first advice is get a job...
I'm doing a crap 100 a day one just while I look for something proper....are you seriously saying you can get nothing?

second thing is spell your username correctly please....Becherovka is one of my favourite tipples - heartily recommended to all who haven't tried it.

http://en.wikipedia.org/wiki/Becherovka

[BoredBloke]

You have done well to last 8 months - personally I'd have taken any old crap job before that time, mainly because of boredom. Daytime telly is as pants as my DIY skills and there are only so many PS3/computer games you can play.

[bekarovka]

second thing is spell your username correctly please....Becherovka is one of my favourite tipples - heartily recommended to all who haven't tried it.

http://en.wikipedia.org/wiki/Becherovka

errrr, I'm named after Bekarovka in the Ukraine, where my family are from.

[DaveB]

WHS.

When push comes to shove it's any port in a storm.

Etc.

I fixed fruit machines for 10 interminable months at £6/hr.

And look how far you've come since

[HairyArsedBloke]

Have you tried that? I did, they told me to bog off then started threatening bailiffs if I didn't pay.

I knew a chap who got that treatment during the 90’s turn down. He was single with no ties in the UK so he sold everything he could, took out as much debt that he trick people into giving him and legged it abroad; Spain I think.


He was an inspiration to me.

[Paddy]

Have you tried that? I did, they told me to bog off then started threatening bailiffs if I didn't pay.

Good luck with that

No, I havn't tried but I know someone who did and it worked.