Need to raise some money!

Alassa

Hi

We just finished having our home built and the developer has slapped us with an extra £7.5K of work - we thought he was doing it for nothing so it was quite a shock. There is nothing in writing from either side so we probably could deny it but he's been OK with us and we don't want to trick him. So, I need to raise the money fairly quickly.

This month, thanks to a Xmas bonus, I am finally paying off my EGG balance of £2K. So apart from the mortgage, I will be totally debt free...hooray!

I am thinking of 3 options to get the money:

1. Through EGG - but this would take me ages to repay at the high interest rate - they are charging me something like 15.9% just now

2. Adding it to the mortgage - that sounds more sensible I suppose because it should only increase the payments by a few pounds each month I would think?

3. Cashing in an insurance policy - waiting to hear from the company if that is possible

The other fly in the ointment is that there is a strong possibility I will be made redundant end of Sept this year. Therefore I wanted to get all the debts out the way in case that happens. With that in mind, I suppose option 3 would be best if possible and if not option 2. Does that sound right?

Thanks
Alassa

headchef

I think you need to chat to your builder. How come you thought he was doing work for free? And if he is now charging - do you think what he did was worth £7,500? It just seems a huge discrepancy: nought to 7.5K. Actually think you need to sort out the bitty gritty of the charges first and perhaps negotiate with him