Debt of £37,000, need help URGENTLY!

Jo4

Johan wrote:

Well done my friend.

It's great that they are going to get things sorted now, when the credit cards are paid off ring or write to the card company and close the card accounts, it will help improve your friends credit record or credit rating!

Do not cut the cards up but cancel them! May be they can keep or get just one with a small limit say £500 at low APR if they can get it for emergencies only please! :xmassign:

THANKS! Don't get too happy yet as mortgage is only approved in principle!! When they get the extra amount on the mortgage how do they get it does it go into their bank account or what?

---lee---

Normally, your solicitor handles the money. He/she will use it to repay the ‘old’ mortgage and any costs arising out of remortgaging (legal fees, arrangement fees, admin fees etc). The remainder will be paid to your friend by cheque or bank transfer.

Johan

Yes I agree, the solicitor will handle the money and all the other fees arising out of the transaction, I reckon they should get things wrapped pretty soon if they get the final approval.

Jo4

Jo4 wrote:

THANKS for responding! I thought that they might get 2 loans of £18,500. I would love to get this sorted by Christmas as he is sticking his head in the sand and she is making herself very ill as a result of the debt. I just wish they had said to me sooner, maybe I could have done something!

She has been admitted to hospital this evening at 7:30 pm as I pointed out on the 6th of December "she is making herself very ill as a result of the debt". I just hope that there is nothing seriously wrong with her as I do not know why she has been admitted to the hospital!

Jo4

BTW, THANKS for the responses about where the money goes!

---lee---

Jo4 wrote:

BTW, THANKS for the responses about where the money goes!

Your welcome. Hope it's not too serious (hospital) and everything works out ok. :xmassign:

Jo4

She got out of hospital before Christmas I am glad to say!! They had a really good Christmas. She said that the mortgage has been accepted and now they just need to send in payslips and surrender value. Then they need to sign for the mortgage but they should have it all sorted in about 4 weeks!!

THANKS for all the help!

Johan

Glad it's all sorted done and dusted, at least now they can sleep better at night rather than thinking about debts, It does wear you down, I know.

Now might be a good time to polish of that bottle of wine, better still tell them to go out for a meal and celebrate to the good things ahead.

I seen Martin's TV progam on the other day were he says don't spend your money on the lottery, well with a Euromillion jackpot of £50Million I just HAD to buy 2 lines.....you never know!!

Cheers and good luck.
Johan

Jo4

For some reason the mortgage did not go through. They applied for another one about early March, it too was accepted in principle but it has came through in the last 3 weeks. The loan has definitely been paid off and I think the store cards have been paid off as well although I am not sure.

THANKS for all the help!

Sooty0404

If you want to promote your business take out a newspaper advert like any other reputable company.

The people on here are looking to get out of debt, not take on more.

I think what I am trying to say is...

GET LOST!



REPORTED TO MSE