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Renovation Disaster - "a Mse Moment"

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Broke mum's debt clearance


A MUM’S plan to clear her debts and make money by doing up and selling a house has ended in disaster.

Wendy Black is now £32,000 in the red and has been threatened with bankruptcy.

The full-time student,who has daughters aged 17 and 19, thought improvements to her four-bedroom property would cost around £30,000 — but the final bill soared to £60,000.

Wendy, 44, funded most of the project with SIX credit cards.

She owes the Halifax £9,500, Citicard £5,000, American Express £3,500, Tesco £5,000, M&S £4,500 and Barclaycard £5,000.

The problems came to light when Halifax bosses took £145 — two months’ child allowance for her 17-year-old — out of her savings account to try to reduce the card debt.

“It was the only money I had left and I needed it for food,” says Wendy.

She admits she got into trouble because of the rising costs of her home, which she has now put on the market for £339,000.

I think a lot of people are hoping to sell their homes to clear debts - dont be a mug and let them off the hook!

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  • 294 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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