Ruben and Tony's financial situation

[QPROslo]

The corona virus is a hassle to all of us, but the consequences for the airline industry is devastating. Many airline companies can go bankrupt when air crafts are grounded. The longer it takes the worse it will be. I have no insight in the financial strength of Air Asia, but even those airline companies that are well capitalized in the first place might go bust.

I think Ruben and Tony have other priorities than QPR right now. They underwrite our ongoing losses, something I am afraid they will not be in a position to do any longer. One thing is the financial consequences of the virus in the short run, with no gate receipts and possible reduced TV revenue. More serious is the long term financing.

I find it highly likely that Tony and Ruben might want their loans repaid as soon as possible. And I would not blame them. We could easily be one of the clubs that will be forced to sell all our best assets, and we might not be able to reinvest a single pound.

I am exceptionally happy we have Hoos and Ferdinand at the helm, with their well known prudence and ability to get a lot out of small resources. And not to mention the fact Ferdinand has turned us into a talent factory. I think a lot of other clubs will be in deeper #### than us, but it is probably soon pretty serious to us as well. I am normally a glass half full guy, but even I am uncertain now.

[FurtiveFox]

You are not wrong overall but too early to panic.

Many businesses will go under as a result of the virus and the air industry will perhaps suffer the quickest. I deal with a lot of businesses and they are all saying things have gone from busy to dead and not worth opening overnight. The effect on business will be devastating and that will have knock on effects on jobs and everything else.

However everyone needs to earn a living and my hope is that once things settle down the country will start to go back to work and we will get back to some normality. Question is really whether we are talking a couple of months or significantly longer.

My own personal situation, which I am sure is common, is I have enough work for the next couple of months. If things do dry up I am then just a month or two away from not being able to pay my mortgage. Worrying times and that does not even take into account the health issues.

[SheepRanger]

You are not wrong overall but too early to panic.

Many businesses will go under as a result of the virus and the air industry will perhaps suffer the quickest. I deal with a lot of businesses and they are all saying things have gone from busy to dead and not worth opening overnight. The effect on business will be devastating and that will have knock on effects on jobs and everything else.

However everyone needs to earn a living and my hope is that once things settle down the country will start to go back to work and we will get back to some normality. Question is really whether we are talking a couple of months or significantly longer.

My own personal situation, which I am sure is common, is I have enough work for the next couple of months. If things do dry up I am then just a month or two away from not being able to pay my mortgage. Worrying times and that does not even take into account the health issues.

Having worked in the mortgage industry the worst thing you can do is not pay your mortgage without discussing it with them. Not being in contract will incur monthly fees, that do not apply if you agree to go on reduced payments due to a drop in income. By being in communication will also delay automated legal letters and instruction of solicitors all of which incur fees that will be added to your account balance. Also, the update they send to the Ctedit Rating firms will show on a plan rather than missed payment. Managing your credit score is very important. You must communicate with them and work with them.

If your experiencing other debts too, you must contact free debt advice firms like stepchange or payplan who will manage all your debtors on your behalf and send out what you can afford to all firms. If you are experiencing extreme financial difficulties additional interest charges and fees can be stopped.

Not dealing with debt issues can be very expensive and your debts just spiral out of control. Do not be ashamed to contact them or not deal with it thinking it will go away.

[QPRDave]

Just what I needed..........A thread to cheer me up

[Stainrod]

Having worked in the mortgage industry the worst thing you can do is not pay your mortgage without discussing it with them. Not being in contract will incur monthly fees, that do not apply if you agree to go on reduced payments due to a drop in income. By being in communication will also delay automated legal letters and instruction of solicitors all of which incur fees that will be added to your account balance. Also, the update they send to the Ctedit Rating firms will show on a plan rather than missed payment. Managing your credit score is very important. You must communicate with them and work with them.

If your experiencing other debts too, you must contact free debt advice firms like stepchange or payplan who will manage all your debtors on your behalf and send out what you can afford to all firms. If you are experiencing extreme financial difficulties additional interest charges and fees can be stopped.

Not dealing with debt issues can be very expensive and your debts just spiral out of control. Do not be ashamed to contact them or not deal with it thinking it will go away.

Good advice sheep .

[Abseits]

Oil price has plummeted due to Ruskies leaving OPEC and sticking up two fingers to Saudis and their price controls. This will benefit Aviation industry hugely when status quo returns. I'd imagine lots of teams, businesses and enterprises will unravel and go bust but they will all have had fragile hand-to-mouth finances anyway. Resilient concerns founded on a bit more than an IOU note will be okay.

[72bus]

Having worked in the mortgage industry the worst thing you can do is not pay your mortgage without discussing it with them. Not being in contract will incur monthly fees, that do not apply if you agree to go on reduced payments due to a drop in income. By being in communication will also delay automated legal letters and instruction of solicitors all of which incur fees that will be added to your account balance. Also, the update they send to the Ctedit Rating firms will show on a plan rather than missed payment. Managing your credit score is very important. You must communicate with them and work with them.

If your experiencing other debts too, you must contact free debt advice firms like stepchange or payplan who will manage all your debtors on your behalf and send out what you can afford to all firms. If you are experiencing extreme financial difficulties additional interest charges and fees can be stopped.

Not dealing with debt issues can be very expensive and your debts just spiral out of control. Do not be ashamed to contact them or not deal with it thinking it will go away.

get a IVA

[72bus]

I think the worry is how long will this go for , my mrs wouldnt eat out last nite on our anniversary . im at a bit of a loss to what to do today without football...

[SheepRanger]

get a IVA

Yes, in more extreme cases where the debts are so big that you won't ever be able to pay back, or your circumstances wont change to be able to do so. A few of my friends have done this, but got into the hole from irresponsible spending. But hey, if the banks give you the credit facility they only have themselves to blame.