I am terrified of what may happen

[RealityBites]

Hi everyone. I watched this depressing programme on BB1 last night about repossession. My situation may not be as bad as some, but i am increasingly being engulfed in a terryifying vision of the future.

 

We have a mortgage, 145000. My husband started a business and we took out various loans up to the value of 25000, 13000 from the bank (unsecured) and 12000 from family. The business flopped and now we are just making ends meet. I am on mat leave from next week, baby due in early feb and so the full time salary will start to decrease. My husband is not earning that much. I'm just so terrified about what will happen.

 

I have a child and this is the 2nd baby. When i go back to work, i will have to work part time as i don't think i can afford to pay the childcare. i just do not know what to to do. we are not behind on any payments for anything, but, i feel so depressed that i just want to run away so far.

If i didn't have kids, i think i would have done so by now.

The whole world is sufferring this crisis so actually there is no where to go

 

My question is that if i started to get behind on payments, how can i access goverment help. Can i do so even on maternity leave. The goverment announced helpiong with mortage payments, would that option be available to someone like myself. i will not be able to work full time and have to work part time to look after the kids.

please advise me

Thanks

[Ell-enn]

Hi there, I'm sorry to hear your are feeling this way when you should be happily looking forward to the birth of your baby.

 

I know things may look bleak at the moment and the programme you watched last night wouldn't help how you are feeling. However, you need to put things into perspective - the families featured in the programme are only a fraction of those who have been in similar situations, but have not lost their homes!

 

There is much that can be done should things start to look as if you will be in difficulty. There are new mortgage pre-action protocols which the government have rolled out to lenders to ensure they give as much help and negotiation to people in financial trouble before they even think about repossession proceedings.

 

Sometimes a good first move is to ask your lender to grant a payment holiday of upto 6 months to give you breathing space - I have known this to be done for others who are taking maternity leave.

 

Please try to stay positive - if and when you feel you are going to struggle post on here and you will get all the help and support you need.

 

Kind Regards

 

Ell-enn