My husband (age 58) and I (age 51) were partners in a family business from 1994 – 2012.
During this time, we raised a family of four and from 1999 to 2010 cared for my elderly mother. In early 2009 we borrowed £26,220.00 from the business to build a downstairs annex for my mother who was declining and needed physical care.
At the end of 2009 the financial crisis affected our business and this caused my husband to have a nervous breakdown. He was unable to work for a few months and this brought immense pressure on the family as I was having to go into work at 4am in order to be home by 8am to take the children to school and then went back to work until early afternoon. During this time my mother’s health was rapidly deteriating. She passed away in March 2010.
The business stabilised and we sold it in early 2012. Unfortunately, the company who bought it had internal issues and due to the way the payout was set up, we only received £40,000 instead of the £120,000 it was valued at. As there were four partners, this left my husband and I only receiving £20,000.
In addition, my husband developed an unexplained DVT which requires him to be on Warfarin the rest of his life. He was diagnosed with an aortic aneurysm and high blood pressure for which he requires daily medication. He has had several jobs since and I have been self employed to enable me to work from home to care for the family.
Unfortunately due to all the upheaval in work circumstances, health issues, death of my mother, along with the building extension expenses (my mother had no money or property to leave to us), we have been struggling financially with mounting credit card balances which have now reached nearly £30,000 and we are unable to obtain a loan from our bank.
My husband and I are committed to working until we are 70+ to provide for our family and repay our mortgage (£120,000 taken out when we bought the property in 2007, now £48,000 plus interest).
We are desperate to clear our credit card debts and current bank over draft of £5,000 to enable us to start putting a small amount towards a pension fund and start to try and get our finances back under control. We would be so grateful for any contribution towards this amount of £35,000 and would truly appreciate your help.
May God bless you.