Hi Layla,
I really know how you feel!!!! Hubbie also self employed last year, and due to work drying up, unable to get paid!!! and hubbie putting head in sand, we have struggled. Customer bounced a 10,000 cheque and put us in the S***, so I pushed my hubbie out the door and sent him to a company that he had sub contracted for, and they gave him a PAYE job. At least that keeps us fed, mortgage paid etc, and until this month the business loan paid. Now he has had a massive paycut and we are back struggling.
What I am doing is:
Asked to put mortgage on interest only to clear smaller loans - waiting reply
(you may be able to take a 6 month payment break as you are both not working) please ask your bank!! My bank allowed this last year, as I was in hospital sick after having a baby. You should be entitlted to the mortgage interest supplement benefit. They assist in the interest part of your mortgage.
Contacted each loan provider and asked to reduce monthly outgoing, and show your present income. You can only give what you have!
Contacted each creditor, and explained our financial circumstances and offered what we could afford. Dont over commit. If you cant at the moment, say so, and that once you clear some of your other debts, you will contact them and arrange a payment plan. They dont want to take you to court, but want to see you are trying to make payment.
Chase your debtors!!!! My husband gives out he didnt get paid, but doesnt chase them, nag them, turn up to their houses in the evenings - you've done work, the money is yours!!!! If not, get a debt collector on the job, but dont let them away with it. This makes me very angry!
The bank cleared out my personal account a few weeks ago for a late business loan payment of 2 weeks and left me with 1 euro. I really do know how you feel.
My husband also kept it from me, as I was very sick. Im also pregnant and all this stress is not doing me any good. My husband is in denial which is driving me crazy and Im struggling trying to sort out the mess.
We are going to counselling, before we end up divorced.
Like you, I have never missed a payment or owed anyone any money, it just goes against my nature.
Trying to sell my car at the moment after months of asking my hubbie to do it. Feck the neighbours, you dont know whose shoe is hurting.
Mind yourself and pm me if you wish.
Kind Regards
Caz