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Sayara Beg Is Back

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Why doesn't the world do exactly what I wish? Why doesn't everyone do as I say? What's wrong with them all?

Brilliant, she's giving financial advice now.

She still doesn't seem to have realised that being 'asset rich, cash poor' involves owning the assets - not owing the bank for them. Thats just called 'being in debt'.

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Brilliant, she's giving financial advice now.

She still doesn't seem to have realised that being 'asset rich, cash poor' involves owning the assets - not owing the bank for them. Thats just called 'being in debt'.

She just can't let it go, can she?

However, if you are like me asset rich and cash poor you are very vulnerable.

But you aren't asset rich!!

EDIT

I just don't see the point of this diary. Are we supposed to feel sorry for this woman? She bought BTLs which means she's gambled to make a fast buck, but she's lost! Sorry Darling! Why should everyone else (i.e. the banks other customers) have to bail you out?

Edited by tonification

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Most stupid woman ever.

The best bit (other than "However, if you are like me asset rich ") is....

"My best laid plans seem to be coming apart at the seams".

I don't think:

* borrowing shed loads without any thought of what might happen if your business fails, or you lose your job

* suddenly realising you have no way of paying it off,

* panicking and asking people not to try to get their money back from you

Is, technically speaking, "a plan", "best laid" or otherwise.

Most stupid woman ever.

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Why does it not make sense to sell her BTL? Is it because she has a positive cash flow, and she needs the extra cash? Or is it because the she can't afford the costs of selling (tax etc).

If the later the BBC should make a comment saying how she failed to account for any tax that needs to be paid (income tax on rent, or capital gains tax)

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"My best laid plans seem to be coming apart at the seams".

I can't help but think these plans somehow involve a turnip and saying 'wibble wibble' a lot.

Most stupid woman ever.

What about this one:

http://news.bbc.co.uk/1/hi/business/3846143.stm

"I'd never had the opportunity to get credit before, as my parents had a bad credit history and that prevented me from getting credit while I lived in their house. "

.....

followed by ...

"I often wonder if there is such a thing as a "debt personality" and if so do I have one? In my parents' time if you didn't have the money you went without. "

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No wonder they are making huge profits!

What, you mean for demanding that both sides of a financial agreement are kept? Seems perfectly reasonable to me.

Let's hope the diary keeps going when the financial traumas are in full swing. It might be educational for those that think loans are a one way risk free bet.

My current situation threatens all my hard work.

:lol::lol:

Translation into real world:

"The fact that I have gambled and not taken adequate steps to ensure my continued solvency means that I may end up losing that gamble. Although I'd have been braying at parties about my great acumen if the gamble had paid off, I now want to moan about not being able to understand in any meaningful sense that there was a potential downside, which I failed utterly to prepare for. I'm going to make myself feel better about the situation I've got MYSELF into, by moaning endlessly about how it is actually all jolly unfair, and talk a lot about my effort and hard work, as if that somehow cancels out my disastrous financial mistake."

I really hope she doesn't get away with paying this lot off. But I fear she just might.

Edited by Levy process

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I'm confused. If she's a freelance contractor surely she technically has no employer or employment rights.

Most contractors I know are on two weeks notice - no reason needed.

Not only does she not understand her financial situation - she also appears confused about her 'employment' status.

I think she's going to bite the tax bullet on the freelancing and try to claim the employer was working a scam to avoid paying employers NI and deny her employment rights and then she will argue she was really an employee and so entitled to maternity rights and also that they need to make her good for tax. It's a try on.

Basically, try to get the employer to pay up - if she had a contract for services and it was not an employment contract they are fully within their rights (subject to what the document says) to terminate the agreement. That suits her to avoid paying income tax etc. but is a bummer when they terminate - that's your risk - as the IT people will tell you.... - makes the whole thing even more odious - as usual, she's just trying to get someone else to pay when the reality is, she is too selfish to let an asset go and she does not understand why or how she overleveraged - plus what about the BBC income for writing this diary ?

There is no sob story worth listening to - no mitigation or outside factor that dragged her down. As such and to warn the rest of the world, I really want the banks to play hardball - she's doing her best to annoy them as it is - I hope they stick to their guns and the legal agreements - I have no interest in covering her imprudence and letting her off her responsibilities.

Edited by Rachman

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I hoped that my property would be my pension and spent 10 years working hard to buy it.

And yet she tells us it doesn't make sense to sell it, as it won't help much. So she's discovering she's spent 10 years paying for something that still isn't worth anything. You couldn't make this sort of stuff up. It's hilarious.

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And yet she tells us it doesn't make sense to sell it, as it won't help much. So she's discovering she's spent 10 years paying for something that still isn't worth anything. You couldn't make this sort of stuff up. It's hilarious.

Yes, I find this woman hard to take seriously. Over the last ten years, property prices have gone up between 2.5 and 3 times - she's been incredibly lucky. How can her BTL not have made gains? If those ganins aren't good enough for her, or the fees she needs to pay off, then what's she been spending stuff on - cocaine?

Worst of all, it's the 'pity me, the world is against me' attitude, refusing to take serious responsibility (drawing up a repayment plan is NOT taking responsibility, just working out how to escape).

Pitiful.

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"I am advised that if I take tribunal action, I will not be in line for legal aid."

Well, as far as I know industrial tribunals can eb done yourself.

And legal aid not being allowed means equity of over £100k or a big income so why the heck should she?

The bbc pandering to her like this is sick making to every hard working poerson who stays out of debt. (Ok thats probably the minority these days)

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"I am advised that if I take tribunal action, I will not be in line for legal aid."

Well, as far as I know industrial tribunals can eb done yourself.

And legal aid not being allowed means equity of over £100k or a big income so why the heck should she?

The bbc pandering to her like this is sick making to every hard working poerson who stays out of debt. (Ok thats probably the minority these days)

They can, I represented myself at an Employment Tribunal 3 years ago now. They might be a small nominal cost, I can't remember. Also, ACAS get involved and arbitrate for both parties.

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"My best laid plans seem to be coming apart at the seams".

I can't help but think these plans somehow involve a turnip and saying 'wibble wibble' a lot.

What about this one:

"I often wonder if there is such a thing as a "debt personality" and if so do I have one? In my parents' time if you didn't have the money you went without. "

In Blackadder goes forth it was two pencils (up nose) and wibble.

Personally as I've said before she is an idiot.

She is an idiot being a contractor and not having cash around (I've £40k in cash and I've not been a contractor for 18months now).

She is an idiot for trying for a family without careful financial planning

She is an idiot for expecting banks not to grab money from whereever they can. I'm surprised Barclay's haven't grabbed everything from the current account once she fell behind. I know Lloyds have full legal right to do so once a payment is 3 weeks late (I missed a payment while on holiday last year and was rather surprised about the contents in the late payment letter).

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Well I feel sorry for her. She tried to climb all over the rest of humanity by becoming a landlord and it didn't work out. I've just cabled her £50k to help her out. At least she's trying to come to terms with her situation and not putting her head in the sand, or, up her @rse.

Anyone else feeling generous?

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Thats the plastic surgery on the bags under her eyes out the window then :rolleyes:

The banks not talking to you until you miss a payment is standard practise. Its an excuse to murder the struggling debtor with massive charges at a major point of crisis & milk them while they can. Many start to suffer serious stress / depression / mental illness at this point of (usually) no return.

An obvious, but important point is raised with starting another bank account & /0r using cash, although she probably has to lie about her employment status - say freelance bbc journalist.

Looks like she is about to experience the wirlwind of the banks coming for her. When they come they come with a vengance. Hope the Bbc chip in for her bankruptcy fees.

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If you want to start a family prepare, you will need plenty of ready cash.

Gosh! I never thought of that!

I'm so glad for her advice, I never realised that you actually needed to spend any money on having a family before! :rolleyes:

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Well I feel sorry for her. She tried to climb all over the rest of humanity by becoming a landlord and it didn't work out. I've just cabled her £50k to help her out. At least she's trying to come to terms with her situation and not putting her head in the sand, or, up her @rse.

Anyone else feeling generous?

:lol:

I can't believe somebody in their mid-30's is taking so much risk on - mortgages, contracting, babies - nuts imo....

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The next installment is here:

http://news.bbc.co.uk/1/hi/business/5241290.stm

"Mortgage Express, which has the mortgage on the buy-to-let property I have up for sale, has threatened repossession unless I pay back the arrears."

Have you not been using the rent to pay the BTL mortgage? Oh dear.

She is one serious muppet. I think they have made her up as a test for a new character on Little Britain :lol:

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I just think this is another example of someone who thinks the world/state owes her something.

My partner and I both work as IT contractors. We're both on 4 weeks notice, and if one or both of us is out of work, we'll take it on the chin. We save enough that it's not an issue. That's the responsible thing for us to do, so we don't have to sponge off the state.

If we were looking to have a child, we'd look to get one (or both) of us into permanent employment.

How can people like this enjoy the benefits of being a contractor, then whinge when the situation doesn't suit them? Why doesn't she take some responsibility for herself and her actions?

It infuriates me that people like this are put on show as being worthy of our pity/understanding

Edited by House Or Home

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So this stupid woman is in arrears of two months with both her mortgages. Only now does she consider selling her buy to let. Too little, too late.

She does, however, tell the lenders that she is claiming for unfair dismissal from her previous employer. I'm sure they are really interested. Derrr. They could'nt give a monkeys. They want their money back and who can blame them?

This woman really beggars belief. What about her equally stupid partner? Why is'nt he working 24 hours a day to get some extra cash in? When it all goes tits up, as it will, she wll most probably appear on morning TV, crying crocodile tears and trying to get our sympathy vote. Then she will do the rounds, write a stupid self help debt book and disappear into the horizon. I can't wait zzzzzzzzzzz

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I just think this is another example of someone who thinks the world/state owes her something.

My partner and I both work as IT contractors. We're both on 4 weeks notice, and if one or both of us is out of work, we'll take it on the chin. We save enough that it's not an issue. That's the responsible thing for us to do, so we don't have to sponge off the state.

If we were looking to have a child, we'd look to get one (or both) of us into permanent employment.

How can people like this enjoy the benefits of being a contractor, then whinge when the situation doesn't suit them? Why doesn't she take some responsibility for herself and her actions?

It infuriates me that people like this are put on show as being worthy of our pity/understanding

Damn right. The contracting thing really p***es me off. The entire contracting community is fighting hard against IR35 to have our employment status recognised as being independent consultants, NOT employees, with the risks and benfits that go with it. This stupid muppet wants to scream from the rooftops that shes a contractor and free to earn big bucks but still covered by employment law. Talk about wanting to have your cake and eat it, then scoff everyone elses too.

Although it may make employers more receptive to IR35 compliant contracts - to make absolutely clear that there is no employer-employee relationship.

In fact, shout louder woman!!!!

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  • 335 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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