I have to laugh at MrsMuppett's idea of selling all the houses that are in Negative Equity and let the State pay the rent for me!!! Very original. I dont want to start up the discussion on depending on State Help. I prefer to help myself as much as I can. I am not the first who has "over" spent and I am sure, I wont be the last. I am looking for ideas to help me get out of this situation... not asking State to pay my Rent.
If it comes to it then I don't think there is any shame in defaulting. You would be in good company. Fair play to you for trying your best to resolve things but there comes a point when you have to put your hands up. This idea that we punish people for the rest of their lives for their mistakes helps no one. Much better to get you back on your feet and incentivised to contribute to productive growth in our economy. If you murdered someone you wouldn't get 25 years. Keep your chin up.
Oh come on how would you know whether they were trying or not. Sometimes these things happen I don't think it's anyone's place to judge that - it's the financial planning she has asked for advice on. I think that her husband getting a job is a much better idea than starting up a new business. I do think she is going to need some help from family with childcare and just with some company as well if husband is going to be gone.