mortgage and secured loan help

weely

could any one help please with advice.
we are thinking of giving up our house and move in to a rented accomadtion.

we are starting to struggle with payments each month mortgage and loan secured on the property i know for a fact there will be neg equity im sure of it.
we have not missed any payments yet but will do soon before long so i am looking for best advice on what to do.

we are already paying intrest only on the mortgage

we are now paying out £1200 month for mortgage and secured loan + other debts plus houseold bills i only earn £1400 a month so really nothing left to pay credit cards or to live on.

we have been foolish making sure the mortgage and secured loan is paid but living day to day on credit cards.

and we seem to see no light at the end of the tunnel.

any help please on where to go from here

kimdegsidash

Welcome Weely

Firstly, well done for facing up to your situation and taking positive action. Today is the first day of your journey to debt freedom.

Secondly, could you post and SOA (statement of affairs). This helps us to see exactly what your circumstances are and we will then be able to give advice more constructively. Link here http://www.makesenseofcards.com/soacalc.html

Hopefully giving up your house would be a last resort - and we will do our best to help you find an alternative way out.