Thank God for paper plates

[Andys]

2 years ago I had a thriving little business publishing to schools and colleges, when the business started to struggle we borrowed to keep it going, any way cutting a long story short the bank pulled the plug leaving us with some debts, one of which was secured on the house, Bank said don't worry we will let you sell the house and get a good price. Two months later they demanded settlement. It meant we had to drop and drop the price. Sold the house last week £50k below the asking price.

Mortgage paid off and bank but no home luckilly we have the mhome. Spent the first week of our new life in a field near Scarborough (farmer owed me a favour) Van has solar panel so power not a problem. posted about our wifi extender so have internet connection. Biggest problem water. But using paper plates cuts down on water usage.

Hopefully over the next few months we will be able to save so we can start to rebuild. Don't think I will ever trust the banks again.

 

[herbenny]

2 years ago I had a thriving little business publishing to schools and colleges, when the business started to struggle we borrowed to keep it going, any way cutting a long story short the bank pulled the plug leaving us with some debts, one of which was secured on the house, Bank said don't worry we will let you sell the house and get a good price. Two months later they demanded settlement. It meant we had to drop and drop the price. Sold the house last week £50k below the asking price.

Mortgage paid off and bank but no home luckilly we have the mhome. Spent the first week of our new life in a field near Scarborough (farmer owed me a favour) Van has solar panel so power not a problem. posted about our wifi extender so have internet connection. Biggest problem water. But using paper plates cuts down on water usage.

Hopefully over the next few months we will be able to save so we can start to rebuild. Don't think I will ever trust the banks again.

Hi Andy

So very sorry to hear about your dilemma. We so know where you are coming from with regards to banks etc. My hubbys father ran a successful haulage business for over 40 years, hubby was employed by him for the lasy 20 years and then the rise in fuel crippled them last year and other half had to be made redundant and my in laws have lost everything, thier home, thier pensions, but most of all his dignity and pride has been battered. The advice he got was apalling they were so very quick to keep encouraging to borrow and then when he could do no more they pulled the rug from under his feet.

They are now living in a caravan which they managed to keep hold of, but for two pensioners I dont know how long this will take its toll on them.

I do hope things improve for you both and wishing you all the very best ......

Jac

 

[novice1968]

hello andy
alway an upside to everything, free of debts, a turly freeman no longer a slave of financial masters, with a positive outlook, life for you and family can only be positive for the future I wish you the best

As for bank, I had a small business for a long time always had a sizable overdraft and renewed yearly As my business always had very good cash flow so I never bothered to reduce the OD and my bank always renewed it When I sold the business, I kept my account paid off the OD, a few months after, I got a letter from the bank advising that there is no problem keeping my facilities (I was not overdrawn) but I will have to pay an arrangement fee. Until then, arrangement fee was always free and communications between between bank/myself were always by phone and on 1st name terms.Then I found that I could no longer ring my manager directly but had to call a centre where my message can be passed on. After more then 30years, this was the type of service I received I did not reponse to their letter I simply closed my account and left.

 

[Teffy]

Hi Andy
Sorry life has given you such a kick in the face, you can never tell what's round the corner be it good or bad. At least you seem to have a really good positive attitude! I've said a few times to my husband that if everything goes pear-shaped at least we could live in the motorhome, what a good thing you had one! It will give you chance to get on your feet again. With luck it will be a really good summer.

 

[lotty]

I am so sorry to hear about your recent troubles. (The banks have a lot to answer to!)
I wish you all the best for the future :goodluck:
Lotty

 

[Channa]

When I had a proper job, I worked for a business established 65 years and a similar tale ,whilst I didnt suffer financially people I respected were crucified, people whom had given me the opportunity of a living for 12 years.

Divorce house sold, my transient spirit, has lead me to this juncture in my life.

I try not to worry too much and in some ways feel set free, to share my outlook.

Fully agree with the paper plates, I am going that route myself , better things to do than wash up like take the dog a walk.

Good luck for the future

Channa

BTW .....based in Filey when not on the road working if ever you fancy a chinwag

 

[barryd]

You have my sympathy. Its been a tough few years now for small businesses. I too have run my own company for over ten years now and the last three have been pretty poor. I know of plenty of others who are just hanging on in there and struggling, all hoping and praying that the good times come again. I fear they are a long way off. Its hard to know when to throw the towel in and I think there are plenty of small companies that are hanging on a thread that the banks could cut at any time. The banks and the government should remember that 59% of the employed in this country are indeed employed by SME's (Small and medium sized enterprises) who account for 51% of UK GDP!

Good luck for the future.

 

[Andys]

Hi Thanks for your comments. The thing that really winds me up is that when the bank wanted the house against the loan the bank manager said "don't worry if everything was to go wrong we never take the house its just a way of making you work harder"

We managed to buy the intalectual rights of the old company and now trying to run the business from van. Using a thing called efax because most of our orders came in by fax. We have a 3 dongle so can get email. Hopefully in a few months we will be able to get somewhere. But just to say we are loving being in the van fulltime. If it was up to me I could do this for ever. But she who is obeyed likes a bath.

 

[Robmac]

I too run a small business, but I worked for Natwest for 25 years in IT. We should bear in mind that most Bank workers are ordinary people who just have to do what they are told, a lot of bank policies are governed by dividends to shareholders who are, as well as large corporate bodies, also members of the public. Having said that the huge bonuses that the executives receive are obscene, and I will never understand why these people (and footballers and popstars) deserve more than soldiers, firemen, police etc. etc.

Rant aside, you have my complete sympathy, I hope things get better for you soon.

Rob