Posted: Tue Feb 10, 2009 10:50 pm
It's been a bit of a nightmare though.
With a company merger in 2006, I've been put on consultation with the looming prospect of losing my job in August.
Redundancy is minimal at 2 1/2 weeks per completed year of service (I'll have 3 years under my belt by then). I can't believe that I will be starting my 4th year in April either !
Because of the redundancy, I sat and totted up payments made from the start, and up to and including, March. It left me with about £5k out of the £15k to pay so I gingerly asked my parents if they would lend me the money.
Because they've seen that I made this a priority after payment of the mortgage and have drastically changed my spending habits, they agreed to lend me the money. With interest rates as they are at the moment, they won't be losing much on it.
Originally, Grant Thornton asked me to get a letter of intention from my employers. Well that was worse than getting blood from a stone. They asked me to get a letter from GT requesting the details - I then had to forward this on to my employer giving them permission to respond !!!
[:(!]
In the end, GT have told me not to bother. So, all I'm waiting for now is the letter confirming the load from my parents and then GT will put forward the proposal.
If it's accepted, it will give me a chance to stash some cash before I am made redundant if I don't find another job. I reckon if I stay till the end of August, I should get enough pay off and have enough savings (barring any disasters) to last till the beginning of 2010.
Should I be lucky enough to get another job and the F&F is accepted, I will be able to start paying my parents back.
Oh, and I know it's a bit late, but don't trust your bank ! I called to check what my new repayment would be after the recent drop and was told that the previous person I had spoken to had given me the incorrect information and I would have to pay £30 a month MORE than I was already paying. On top of that, the tax people are taking £35 a month more out of my salary than they were in November.
Luckily GT thought it better for me to save the extra cash even though I offered to pay it into my IVA !!!!
So I'm keeping all fingers crossed and hope to get the F&F stuff to GT by the end of this week !!!
With a company merger in 2006, I've been put on consultation with the looming prospect of losing my job in August.
Redundancy is minimal at 2 1/2 weeks per completed year of service (I'll have 3 years under my belt by then). I can't believe that I will be starting my 4th year in April either !
Because of the redundancy, I sat and totted up payments made from the start, and up to and including, March. It left me with about £5k out of the £15k to pay so I gingerly asked my parents if they would lend me the money.
Because they've seen that I made this a priority after payment of the mortgage and have drastically changed my spending habits, they agreed to lend me the money. With interest rates as they are at the moment, they won't be losing much on it.
Originally, Grant Thornton asked me to get a letter of intention from my employers. Well that was worse than getting blood from a stone. They asked me to get a letter from GT requesting the details - I then had to forward this on to my employer giving them permission to respond !!!
[:(!]
In the end, GT have told me not to bother. So, all I'm waiting for now is the letter confirming the load from my parents and then GT will put forward the proposal.
If it's accepted, it will give me a chance to stash some cash before I am made redundant if I don't find another job. I reckon if I stay till the end of August, I should get enough pay off and have enough savings (barring any disasters) to last till the beginning of 2010.
Should I be lucky enough to get another job and the F&F is accepted, I will be able to start paying my parents back.
Oh, and I know it's a bit late, but don't trust your bank ! I called to check what my new repayment would be after the recent drop and was told that the previous person I had spoken to had given me the incorrect information and I would have to pay £30 a month MORE than I was already paying. On top of that, the tax people are taking £35 a month more out of my salary than they were in November.
Luckily GT thought it better for me to save the extra cash even though I offered to pay it into my IVA !!!!
So I'm keeping all fingers crossed and hope to get the F&F stuff to GT by the end of this week !!!