in 2003 I started working for a large insurance company and took out a share save scheme paying in £200 a month. After 3 yrs I was eligible to sell the shares but after 5 years i could take the shares out tax free.
In 2006 i was made redundant from thee company and was paid just under £3000 redundancy pay. I was very down at the time as I was in a managerial position and I enjoyed the job and the people I worked with. I decided that with my redundancy pay I would get away and do some travelling so I took a loan secured on my shares which I was due to cash in April 09 for extra money to take away.
At this time my shares were going through the roof as the insurance company brought out another leading company. I went travelling enjoyed myself and came back in june 2008. I still had some money left and with my shares looking very well and due to be cashed April 09 I took out a mortgage and put down £7000 up-front,
I found a good job doing estimations for office removals, unfortunately two months later the economy came crashing down, the company could no longer afford to keep me and as I was only working for 2 months was not eligible for redundancy pay.
I could not find a new job anywhere and lost my home august 08 after being assured the government would help me out. For that home I am now in debt £22k as the home was sold for a fraction of my mortgage costs. To add insult to injury my shares had dropped from an expected £19k to £3k, this amount not even covering my loans. I am now £31k in debt without a job or a roof over my head. I have no idea what to do? my only relative is 82 yrs old and in an old peoples home. I've followed all the rules in life and done everything honestly and would like to think I've helpeed alot of people in life.
I can't believe this has happened to me, I can't write off my debts as I received £3k and I can't apply for any benefits as I received $3k and I can't stay in the hostel more than 7 days for free as I don claim any benefits.
I'm in a really bad situation and it seems there is no way out? No one can help and everyone refers me round and round in circles. There are people in life that have sponged off the government and never worked that are doing quite fine now but people like myself who have always worked for what they have are living in hell.
one thing I have learnt is that when you are at rock bottom their is no way back up and the majority of people that can help look at you as scum. The same people that had the time of day for me when I was doing well for my self no longer are interested. I just have no clue on how this can get better
Post Edited By Moderator (stkitt) : 8/27/2009 8:25:02 AM (GMT-6)