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my mum the financial disaster


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Didnt read the post. Missed it.

Id no doubt my mum would be a disaster if shed have been given access to bankrutping levels of credit and went thru with her 'housing is booming' ideas.

Ive had another heated discussion with her.

Her - 'Housing is booming in <shithole>'

Me. OK, lets have a look at the LR sales info .... bootsup computer .... Look, prices have been flat for 20 eyars. Factor in inflation and they are ~30% cheaper than 30 years ago.

Hr - Well thats not what <daft bint friend> says.

Me - Does no matter. These are the figures.

Dont bring real numbers to a mental housing fight.

 

 

 

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7 hours ago, spyguy said:

Didnt read the post. Missed it.

Id no doubt my mum would be a disaster if shed have been given access to bankrutping levels of credit and went thru with her 'housing is booming' ideas.

Ive had another heated discussion with her.

Her - 'Housing is booming in <shithole>'

Me. OK, lets have a look at the LR sales info .... bootsup computer .... Look, prices have been flat for 20 eyars. Factor in inflation and they are ~30% cheaper than 30 years ago.

Hr - Well thats not what <daft bint friend> says.

Me - Does no matter. These are the figures.

Dont bring real numbers to a mental housing fight.

 

 

 

Technically it's better to buy the property before the price boomed instead of buying it after it boomed.

but if we are talking the typical shitholes I suspect you are there is only one possible direction for prices and even after 16 years of flat prices it isn't to the sky.

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Na, not quite that bad, no property involved. But found out shes in the hole to the tune of £25K on credit cards and is in her 70's so no chance of ever paying it back, turns out shes been lending money she doesn't have to people who don't need it - namely family and extended family (lazy cunz). I went on a bit of rant about it, seeing as i'm always taking the piss out of people who live beyond their means - it was a bit of a shock to find out my mum's one of them.

Her state pension doesn't cover the minimums she has to make and she cant go bankrupt or will lose her letters that allow her to work so shes completely f****d..................And now i'm making up the shortfall  (she lives with me) on her obligations. Brilliant!

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32 minutes ago, Ghostly said:

How come she's still working in her 70s?

Because she married me dad, i think they refer to these type of households today as 'chaotic' (think alcohol and mental instability - before it became fashionable like it is today) he's long since dead btw, best decision he ever made; falling off the perch from a drink-related heart attack in his mid 50's.

But mainly due to poor decision making and being susceptible to any old tom dick & **** leaning on her for money it turns out (mainly sponging family members) It drives me up the wall what shes done, uncovering this utter mess shes in. Also found out she lost five figures to some investment firm about 8 years ago too - i knew nothing about this until a month ago. Combination of stupidity (IMO) and embarrassment in whats shes done has got her to where she is plus a couple of elder siblings of mine who couldn't care less it would appear so down to me to sort out.

Dontcha just love family?

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4 hours ago, burk said:

Na, not quite that bad, no property involved. But found out shes in the hole to the tune of £25K on credit cards and is in her 70's so no chance of ever paying it back, turns out shes been lending money she doesn't have to people who don't need it - namely family and extended family (lazy cunz). I went on a bit of rant about it, seeing as i'm always taking the piss out of people who live beyond their means - it was a bit of a shock to find out my mum's one of them.

Her state pension doesn't cover the minimums she has to make and she cant go bankrupt or will lose her letters that allow her to work so shes completely f****d..................And now i'm making up the shortfall  (she lives with me) on her obligations. Brilliant!

Get a debt order.

Ring step change.

Or look at her going bust.

People lending to 75yo deserve all they get.

 

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5 hours ago, Houdini said:

Technically it's better to buy the property before the price boomed instead of buying it after it boomed.

but if we are talking the typical shitholes I suspect you are there is only one possible direction for prices and even after 16 years of flat prices it isn't to the sky.

5 years in, im seeing the affect of MMR.

In tge South its the loss if finsec, which has vastly reduced the number of people on good money.

Hard to tell as the stats are slow but ud guess some large towns will have seen the meduan wage fall 30%. Vast amounts  of cash has been removed from some towns. You can see it with the empty shops - its not all amazon.

North im seeing slightly different - mortgages are restricted to above the board, taxed income. No more getting a big mortgage n paying it off with cash in hand earnings.

 

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14 hours ago, burk said:

Combination of stupidity (IMO) and embarrassment in whats shes done has got her to where she is

I despise the pride old people seem to develop and desperately attempt to maintain by lying and sneaking around. Then they expect you to clean up their mess. Infuriating.

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13 hours ago, spyguy said:

Na, not quite that bad, no property involved. But found out shes in the hole to the tune of £25K on credit cards and is in her 70's so no chance of ever paying it back, turns out shes been lending money she doesn't have to people who don't need it - namely family and extended family (lazy cunz). I went on a bit of rant about it, seeing as i'm always taking the piss out of people who live beyond their means - it was a bit of a shock to find out my mum's one of them.

Her state pension doesn't cover the minimums she has to make and she cant go bankrupt or will lose her letters that allow her to work so shes completely f****d..................And now i'm making up the shortfall  (she lives with me) on her obligations. Brilliant!

The lenders should think twice before lending to a 75 year old with no employment and assets.

Sorry to know that, I hope things will get better.

On the other hand, its great that you still love her and support her even though your siblings don't help her.

You're a good human. Hopefully things will improve. 

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14 hours ago, Ghostly said:

I can relate to some of that.  Yes, family is a real joy.  As you say, it's a good thing the debt is unsecured.

Yep thank fuk, it'll die with her

12 hours ago, Locke said:

I despise the pride old people seem to develop and desperately attempt to maintain by lying and sneaking around. Then they expect you to clean up their mess. Infuriating.

This is what has pissed me off, the fact i could've of done something when it was a £5k problem but a £25k, christ i dont even have that in savings.

12 hours ago, Simhadri said:

The lenders should think twice before lending to a 75 year old with no employment and assets.

Sorry to know that, I hope things will get better.

On the other hand, its great that you still love her and support her even though your siblings don't help her.

You're a good human. Hopefully things will improve. 

I've lost all respect for her to be honest

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sorry for you troubles  i have a brother like this utter waste of skin in his 50`s now not a dime to his name never even learnt to drive a car. 

expects everyone else to provide for him and seeing nothing they have done as their fault. i expect a phone call one day telling me he is gone probably for the best though. 

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Cheers LG, its hard knowing a member of your own family is completely ******* themselves over and you in the process through their 'generosity' to others. Just kills me, i go to work now grinding my teeth and come home doing the same whilst spending the day  mumbling to myself about it.

I find the Philip Larkin quote about parents particularly apposite.

 

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  • 2 months later...
On 11/02/2020 at 16:15, burk said:

Na, not quite that bad, no property involved. But found out shes in the hole to the tune of £25K on credit cards and is in her 70's so no chance of ever paying it back, turns out shes been lending money she doesn't have to people who don't need it - namely family and extended family (lazy cunz). I went on a bit of rant about it, seeing as i'm always taking the piss out of people who live beyond their means - it was a bit of a shock to find out my mum's one of them.

Her state pension doesn't cover the minimums she has to make and she cant go bankrupt or will lose her letters that allow her to work so shes completely f****d..................And now i'm making up the shortfall  (she lives with me) on her obligations. Brilliant!

Get her out of this for 10K easy.  I just offered £1500 on a 2.5K credit card debt which was accepted without them trying to negociate up at all.  The CC wasn't in arrears at all, far from it.  Your Mums got Altzhiemers or Dimensia BTW.  When it first starts its not obvious but this is the sort of illogical thing they do.

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  • 417 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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