Another day

Dear All,

its been sometime since my last post, time is going by so fast at the moment. After my Company went into liquidation I was both relieved and at a loss as to what I could do next. I signed on at a  Job centre  and they arranged a couple of interviews for me, but the positions they sent me for were either temporary , part time or for jobs where it was obvious that I had no experience, ie receptionist in a 5 star hotel !

After a month or so, I managed to find work and although I am only working 25 hours a week at present, I am working my way up the ladder and hopefully I will be able to increase my hours soon. The pay is fairly good and I manage to work overtime most weeks.

all the best for now Rich

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Moving on…

Further to what you all already know about me, I have been running my own Company for several years now. I actually took the business over from my former employer when he retired. To start with things looked good. Although I never made much money out of the business, it was great at times being the boss of my own Company. All my clients knew me well, but I guess I was never a businessman and was to kind for my own good when it came to doing people favours. I was probably charging less for my services because I was always afraid that I would not get the work otherwise.  The Company run for 7 years, but a couple of months ago I decided that if I continued we would not be able to meet our ongoing commitments so I took advice and the Company went into liquidation in August.

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Interest Only agreed !!

Hi all,

just to let you know that after making an appeal to Nram regarding turning my application down to convert my mortgage to interest only, it has now been agreed for a period of twelve months. This is really going to help us move forward and even in such a short space of time since this was agreed, I am feeling much more positive about the future. I of course realise that my mortgage wont reduce during this period, but as we are looking to sell and rent somewhere  so this doesnt really matter to much at this stage. A lot has happened since I last wrote on my blog, so I hope to continue and share my experiences with you all

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Music

Just listening to some music..

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Samaritians

I actually rang the Samaritians. Cant believe I did that, but I guess I just wanted to talk to someone. I spoke to a lovely lady, she was very kind and understanding but could not really offer me any advice or point me in any direction. Having been through so much I know that if I was a samaritian, it would not just be there to listen but to try and give people some sound advice, backed up by experience. Im sorry, Im not knocking them, Im sure that they help many many people. But if your in my situation, they cant help. One day things will get better,

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NRAM Interest Only

Dear All,

I hope you are all well, just to keep you updated, our application to Northern Rock (NRAM ) to transfer to an interest only mortgage has been declined. It seems that they just dont want to help. I dont know what happens now, I have made an appeal to their hardship team. Rich xx

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Guess Im felling a little low today. Rang my Mum and she didnt seem to be that happy. I tell her everything, perhaps thats not a good idea. Im sure she worries a lot. But who else do I turn to. Hoping the day will get better.

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Hi All,

we had an open house this weekend that the estate agents organised. I spent the entire day cleaning, from top to bottom. My wife also bought a hanging basket from some vouchers that we had received. I rang the estate agent in the morning to find out if any one was coming, They said the invitations had been sent out and people just normally just turn up on the day. Anyhow, no one showed, what a waste of  a day. Guess at least the house is clean…..!

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NRAM

We put our house on the market with a local estate agent. Obviously we are planning to downsize and repay some of the money back to Northern Rock. We had looked at a couple of houses that we liked and worked out the figures, taking into account legal fees etc. It worked out that we would have about £80000 left which we could use to reduce our Mortgage and make it more affordable. We contacted NRAM and asked about moving the mortgage over and repaying them this lump sum of money. We had received an offer on our house. It was so difficult trying to get hold of them. You cannot get put through to the porting department directly and it works on a call back system. They say they call you back in five days. They had all my phone numbers, work, home, mobile but after the five days I had not heard anything. This went on for a few weeks and finally I got to talk to them. I went through a application with them. Explained about the IVA being completed and sent them payslips and documents that they had asked for. I guess this all went on for a month or so and then I got a phone call. They had declined my application. I could not believe it. I was offering to reduce our Mortgage by £80000. Why would they not accept? Apparently I did not meet their critiria . I tried to argue this point, but they just did not want to know.

I was left with a couple of choices, contacting a broker, paying an up front fee of around £2500  and then going on with a Mortgage with a high interest rate or trying to find somewhere to rent. We have decided to rent. As it stands at the moment our house is still on the market as we lost the original buyers due to time delays.

I have always tried in my life to do the right thing, looking after my family and friends. I am an active member of the IVA forum and will continue to support and help others. I have found many new friends from this forum and I thank you all for being there for me. I only wish I had the money to help you all out. Lots of love for now, Rich x

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IVA

On the back of my credit/bank statements , where it says about financial difficulties, three companies were mentioned. I didnt know who to turn to but as a majority of the companies suggested one IP, a charity, I decided to contact them. It was all very straight forward and I entered into an IVA last year. The monthly payments were affordable and everything was running well. My Dad had recently passed away, as did my sister and Mum moved into a retirement home. She was never happy about me entering into an IVA but understood the need for it. Although she had some money left from the sale of our family home she did not have a great deal in the stream of things. However, she wanted to help me move forward and offered me some money. This was offered to my IP in full and final settlement. On the day of the variation meeting, I received a phone call to say that the offer was accepted. You can imagine the relief. We sat around crying, hugging each other. We just couldnt believe it. My wife, kids, close friends were all with me. I was so chocked I couldnt speak. Later, I had not received the chairmens report so I rang my IP to be told that they had made a mistake and the offer for full and final had been rejected. To be honest, I felt suicidal. Having just been told all was ok to then be told it wasnt. I sat in the garden, staring up at the sky, talking to my Dad, hoping he would help. I cried so much. Everything had gone wrong again. Just so typical of my life. My IP said that the people voting for a number of creditors would accept a higher offer. This turned out to be twice as much. Mum said she would find the extra money and she did. The revised offer was put forward and it was accepted. This final payment was made to my IP in April this year. I have been on the phone to them constantly, explaining that we need our completion certificate to move forward. We want to sell our house and move to a smaller property and whilst I am on the insolvency register, I cant do that. Persistance pays, I have now received my Completion certificate, so now our house is on the market and we plan to reduce the Mortgage to make it more affordable and to move on……

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