How can I give up my job when I am already in so much debt?  I know that lots of people have money worries and I know I’m no different.  We were all spending confident taht our houses were always going up in value and security.  I never really worried about my increasing debt as I always thought that I could remortgage my house to pay it off especially as mortgage rates havecome right down.  I thought that I would do that now to pay off my debt off so that I would at least not have that worry when giving up my job and look for something else but I have just found out that my house has lost so much value that I cannot do that any more.  I am now panicing about my debt as well as hating my job. So I am now even more trapped.  Not feeling good today. The only good thing about today is that I am late going to work as I can’t get out of my drive!  I’m sure it won’t be like that for long though. Hope things get better soon.  Will

Hi Will

Money worries can be totally de-habilitating. I have worried about it most of my life. I’m self employed and started in the recession in the 90’s and now here we go again. I don’t think this time I have the heart to battle it though. The obvious answer would be to make some staff redundant but I can’t do it. I have always asked my staff for loyalty and in return I HAVE to give it back.

Not a good business policy and I’m sure Sir Alan Sugar would give me a smack without hesitation.

If you haven’t already sought debt counseling then the sooner you take action the sooner you can make positive plans, you may be able to take a mortgage holiday as well. Hopefully if you don’t need to sell your house right now then it’s falling value to a degree is immaterial. Hopefully this unprecedented period will ease as quick as it came and the world can dust itself down and try and regain some momentum.

You say you hate your job, mine to isn’t great right now, but at least you have it and you’re getting paid. I remember telling my dad once that I wanted job satisfaction - he laughed and said he had a job he hated for 20 years but it paid well and he had the responsibility of a family - mmmmm! I know he was right but life’s to short isn’t it, but for now hang in there if you can Will.

Kind regards

Steve