Bad Deby

ineedhelpnow

sorry title should say bad debt - not bad deby - typo error

i have signed up to this post thing as i really need some help and advice as i really dont know what to do
basically we own our house -mortgage is £113,000 house is approx value £200,000 so have plenty of equity
however am in serious debt of £51,000 consisting of secured loans, credit / store cards and catalogues (basically thru stupidity and bad money management)
have never missed a mortgage payment (yet) but for the last 3 months havent even been able to pay the minimum of store / credit cards and catalogues etc so am having loads of letters/phonecalls which i am ignoring cos i cant work out what to do for the best, forgot to mention we are just over our £1000 overdraft and are living on very little money and just spending on basics ie food petrol to get to work etc
i tried to remortgage last year but they wouldnt let us put anymore on our mortgage as they said we had too many debts - even though at the time we were managing somehow to pay them and werent actually behind on payments, so what i really want to know - dont really want to face bankruptcy and lose house etc so what option would be best - is there anyway or any particular lender that would let us remortgage to pay off all our debts even though we now have a bad credit history? is it best to go for an iva or ring all the creditors and offer £10 or £20 a month
i really dont know what to do - the annoying thing is - if we could take the £51,000 as a remortgage although the mortgage would be higher each month we wouldnt have any other debt and i have definately learnt my lesson and would be able to budget to make sure i dont get in this situation again!!
does anybody have any kind of advice please?
thanks

cazzab_2

Please don't ignore the calls - try negotiating a lower payment or explaining circumstances and perhaps get a little lee-way. They are less understanding to those who ignore them - and the problems won't go away by ignoring them. Quite often they will try to help. Does your mortgage lender offer a payment holiday, maybe for a month to give a bit of breathing space? I'm not an expert, but am sure plenty of people here will be able to advise you. You may need to change the title of your thread though (bad deby!). Also - Citizens Advice Bureau have good debt advisors. Good luck.

GeorgeUK

Consolidating your debt may not be the best answer anyway so they may actually have done you a favour. Can you post up a statement of affairs and we'll see if there are any areas of your current expenditure where you may be able to make savings?
https://www.makesenseofcards.com/soacalc.html

As you have missed payments recently, you probably won't be able to get a new 0% credit card so i wouldn't even look at that right now. If you are unable to keep up payments, could you switch the mortgage to interest only and concentrate on tackling the debts?