Another one bites the dust

[Stu]

They say what doesn't kill us, eh...?

Knowing full well that my wife is going into hospital on Sunday to have our baby induced, my kind hearted employers made me redundant yesterday.

Bless them. Just two weeks ago I took out a loan to consolidate a few debts and leave a bit of spare money to help finish the Barracuda, got employment cover built in "just in case", doesn't kick in if you're made redundant within 30 days, they say. Shouldn't be a problem, says I. D'oh!

So now, not covered, fighting the 2 million for a job. Figure I can keep the house as unemployed for about three months if we don't eat.

Happy days.

I know, I know, nobody wants to be depressed or gives a toss, but it feels better getting it out.

[the dodge]

not much you can say to that mate, but i hope all goes well with the birth and you get yourself sorted out as soon as

[Anonymous]

Stu i do feel sorry for you mate but chill out get the baby born then got after a job hammer and tongs even if it means working at mc donalds

[Ian Z]

Bad news indeed Stu.
An opportunity to get acqainted with the new arrival. The most important factor in your lives!

First thing I would recommend is get communicating with any lenders, particularly mortgage. See what concessions they will give you in terms of pay-off reductions (could negotiate at least 30%) and payment holidays for mortgages. There seems to be a level of understanding in the finance industry at moment which you could take advantage of.

All the best.

[Guy]

I am sorry to hear that buddy what a bunch of to55ers , extra worries you dont need at this moment in time. I am sure being the person you are and the fact you are willing to try anything new will mean you will not be out of a job for long.

[Stu]

Thank's Chaps.

Ian, good advice, will definitely be contacting all. Unsure what it does to your credit rating, if anything, or how that affects applications and mortgage deals further down the line?

I've got bigger priorities than pride right now, so I'll take a job shovelling poop if I have to. Fallen into the classic trap of massive mortgage, so need a fair sized wage to offset it, but beggars can't be choosers, eh? Feelers all out at the mo, first interview back end of next week.

When the going gets tough and all that.

[Dave-R]

Good luck with everything Stu.

[Ian Z]

Unsure what it does to your credit rating, if anything, or how that affects applications and mortgage deals further down the line?

If you keep a dialogue going and keep to negotiations, should not affect credit rating - but always ask the question. But get the ball rolling NOW. Even if you bag a job soon. ACT ACT ACT.

So what if you get a bad credit rating? Its hard for anyone at moment to get credit in the old usual way. No credit means more money in ya pocket!
And less money in the (b)ankers wallets.

I speak from experience....

[Anonymous]

mate that really does suck,i really do feel for you,i know easier said than done,just concentrate on wife and baby for now,try not to think about the job

[Stu]

Have to think about the job, or it'll be too late to act and the house will be gone... Refuse to bring a baby into this world without a roof to put over it's head.

[TYREMAN]

Bad news mate good luck as one door shuts another opens

[Dart Vader]

Hi Stu

Sorry to hear of your rotten luck. The baby is the most important thing.
I'm about to use the consumer credit councelling service (CCCS) (its free). They will talk to your lenders for you and negociate a new payment plan.
The absolutely most important thing is that you try and maintain a payment of somekind to your mortgage, even if its a few 100. They will hit your credit score for NON payment but are less likely if you still strive to pay something, no matter how small.
I'm about 22k in the poop having spent loads on my house and its fair to say some good living. Put the house up for sale, market crashed etc etc. I now rent the house out.
It took a load of pride for me to take the first step but a mate of mine was paying out £1000 a month on credit card payments, the CCCS got him down to paying £300.
Quite honestly I don't mind screwing the banks over for money, afterall they got very greedy (well the big wigs did). Screw em. If I had taken a loan out for 20k I would have paid back nearer 30k. WIthh CCCS I only end up paying back to 20k, so I cheekily think of it as a cheap loan !!!

Good luck chap

J

[Pete]

Sorry to hear your news.

I think I would be having a word with your employer to see if they could "forward date" your redundancy, even if they don't pay you so that the insurance kicks in; I am sure they owe you that much.

Pete

[Ivor]

I'm sorry to hear that Stu, I'm glad to hear that like me you don't care what you have to do to earn a few bob, but as the other guys have said, keep the financial boys in the picture and try to keep whatever money you are earning, turning over the with the banks, so they can see you are doing your best,

I can see you with five gold stars on the McDonald's shirt within a month mate!

[Stu]

I can see you with five gold stars on the McDonald's shirt within a month mate!

They'd never have seen service like it! I can wait till Clivey comes to the window and asks for a white coffee, then say "Would you like milk with that, Sir?" Oh, how he'd laugh...

Thank's for the thoughts and advice, Gents. Was just thinking about deleting the post as I was just being a moaning minnie, but the reponses have been very kind and helpful.

Would you believe it, whilst trying to take my mind off things last night, my X-box blew up...