£20k in debt i need help !!!!

AJBIRD30

Hi everyone, would appreciate any help i can get.
I am 35 and have debts of approx £20k i really want to clear them as my monthly salary has been dropped by nearly half so have no way to keep up payments. i have no savings but approx £25k in pension plans and my idea was to use this money to make me debt free but the pension companies say i cannot cancel my pension and have my money back until i am at least 55 all i can do is transfer it to another one. This has shattered my hopes, does anyone know anyway around this please. i am really quiet desperate so any help anyone can give would be much appreciated.

HHH_2

Give CAB a call about the pension thing and CCCS a look at on the web re your debts.

epsilondraconis

I've read a number of posts previously where people were asking to transfer out of their pension pots. As yet, I haven't read anything to indicate that this is possible.

Definitely call one of the free debt charities such as CCCS to help you with your issues.

iNoob

Sorry, but I believe the above commernts to be true. My pension plan prevents me from foreclosing the account after two years of payments which I presume that you have made already?

Deffo give the advisors mentioned a call, chin up!

~Beanie~

There is no way to get the money back out of your pension, as the others have said. You need to forget this idea and look at other ways of getting your debts repaid.

Have you completed an SOA (statement of affairs)? Post one on here and then we can see how bad the situation is and maybe help you. You can find the SOA calculator here: http://makesenseofcards.com/soacalc.html