Don't know how im going to cope...... BRIGHTER???

[1sttimemum]

UPDATE PAGE 2

My head is in pieces.

I had to go into work for an informal meeting today about my job.

I was basically given notice of complusory redundancy I didnt love the job and i didnt particularly want to go back there, but if im made redundant and they cannot find a suitable position i dont no what im going to do. My mortgage is with work and is a large one. I cant handle it already. I wanted to be able to look and get something new first,

I just feel like my world is about to end, If i dont earn what i was or thereabouts then i doubt me and my partner will be able to cope. Im scared that we will have to give the house up and go bankrupt.

I no im probably overreacting and should try not to worry, but its soooo easier to say than do.

I have another meeting on wednesday to discuss vacancies and pay.

 

[Suzie and Faith]

I'll type a proper reply soon but bubs has just woken.
I'm thinking of you and things will be ok xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

[1sttimemum]

Thank you sweetie. I hope Faith is ok

 

[Krystal]

It must be scary but pls try not to worry too much hun. Wait until Wednesday, maybe they have a vacancy you can take and look for another job in the meantime

 

[x-kirsty-x]

Oh hun

I hope things turn out for the best

 

[lauramumof2]

that really shitty. Dont let them intimidate you into a lesser job though.
What do you do?
There is no point panicking till you really know that the shit has hit the fan and meanwhile, go into this meeting next week with confidence.

 

[trixipaws]

i kno it must feel scarey for u but try not to stress too much hun, see how it goes next wednesday. x

 

[Suzie and Faith]

Ok, bubs is napping again now.

First of all don't give up on getting another job with them, they may have something to offer you.

If not are you able to look for a similar job elsewhere? I know it'd be hard but you might find something.

What else would you like to do (you said you weren't sure whether you'd be going back anyway)? Is there anything specific or did you want to be a SAHM?

If you are earning less then you should get tax credits at a higher rate than you are now, which won't make up for the income loss but it might help a bit.

It may seem daunting now but I'm sure things will be ok. I know it's not something you want to do but could you consider moving to somewhere where the mortgage would be less? I don't know the size of your place at the moment but is it possible to downsize?

Me and Matt are going to have to cope on very little money so I sympathise completely!

Wait and see what your work say when you next speak to them

And remember you can text or call me anytime xxxx

 

[1sttimemum]

Thank Ladies.

I work for Northern Rock, used to sell the loans but they dont offer them anymore. They said if they can find me a job of a similar skill requirement to my current one, they will only downgrade my salary if its more than 25% of what it should be for example, if i was earning £20k and the job offered paid, £17k then i would stay on £20k because there is only a 15% difference. Which is good If it was over 25% then they would look to fetch it down so i was only 25% above the normal pay for that specific role

We could hypothetically downsize our house, but we are tied in for another 2 years we would owe £30k more than we would get for the house if not more. So at the min doesnt seem a viable option.

I was going back to work but i was unsure if i could get a new job at end of mat and go straight into that or look for a new job when i had gone back to Northern rock

 

[jools221181]

I hope everythign works out ok for you

 

[debecca]

Oh God that's awful I'm so sorry to read this

Have you any ideas what else you could do to get income?

 

[1sttimemum]

Not got a clue, I know i dont particularly want to go into sales again.

I have half a mortgage advice qualification, an NVQ in legal secretary and my GCSES

 

[xkikix]

Oh hun i am sorry. My best friend used to work for a mortgage company called GMAC who are an american mortgage company, and with all this credit crunch and lenders getting shakey she got made redundant too. She has a big mortgage as well. She got a brilliant redundancy package, on garden leave for 3 months so still getting her £1500 per month salary then a £8k payout, she'd only been working for them for a couple of years.

Its worked out best for her really cus she wanted to train to be a buyer so she has enrolled on a course to do this and has got a job as a planner while she trains.

I hope it works out for you in the end, do you have insurance on your martgage for redundancy?

 

[Geordie&Bairn]

sweetie i am so very sorry this is happening
Sorry cant give much advice but i can givwe you heeps of hugs on the other end of the phone if you need me hunny

 

[Sammystar]

sorry to hear this. Try to stay positive, there are usually ways around this type of thing. You're obviously bright so finding something else shouldn't be a problem. Bankruptcy is very extreme, and most money lenders will be open for negotiation way before you need to go down that route.

Take care

 

[helsekia]

dont really have any soltions for you I just wanted to wish you all the best and try and stay positive hun,i know thats easy to say.

 

[GBLiz]

i feel for you because i had a narrow miss with losing my mortgage this year and it is terrifying. hope everything works out , what ive learned is that sometimes things dont work out the way you planned but they have a way of working themselves out somehow.

 

[1sttimemum]

Ok so i had my second meeting today.

Things are looking brighter - NOT ONE OF YOU ARE ALLOWED TO SAY I TOLD YOU SO

My redundancy package is 3 times better than they led me to believe, i can clear some stuff off with it and be £300 a month better off, but then i will loose my decently paying job. i can apply back there in 3 months if i want to go back there not really wantoing to go back there,

So do i take the money and leave a well paid job but be able to clear some debts and have some left over, or do i keep myself in a job, what with the current economic climate.

I would be happy to work anywhere to tide me over if needs be, if i cant find anything decent at first

 

[Lola's Mummy]

I really don't know what to advise you hun but wanted to give you these

 

[jennywren]

IMHO if I was you.................LEAVE take the pay, pay yout debts off, get a job else where, the climate is not AS BAD as you would think there is work arround just gotta pick the trade (i.e mortgages, no one getting them so no work, building no loans so no work etc) but for example, well known clothes stores generally survive a recession as do supermarkets, shit pay but will tide you over while constantly looking and applying for jobs in your trade!

Good luck huni