£50000 debt

calmgirl

I know you feel awful at the moment but try not to stress too much, things will get better in time. i don't really know the best course of action to advise but i do sympathise being in debt myself.

micheleen

SOA is all incomings and outgoings no matter how trivial, try Martins Budget Planner as an example

*Sparkle*_3

Colgatefootball does your partner know about the debt?

Is this family member going to pay you back or at least try and help you out? do they know about the situation your in?

android_2

my partner knows about debt yes,why do you ask that?will the abbey give me remortgage for another £50000 knowing the debt i have paid for family member?my credit score is now poor

davek1

Colegate

Actually the Abbey are quite good when it comes to remortgages and quite flexible if you dont have the best credit rating. I think you have sufficient equity in the property for them to ok it. they probably wont go much more than 85% loan to value though if your credit isn't great

Dave

kathfisch

Colgatefootball
What is stopping you from seeking advice from the likes of payplan or consumer credit counselling service? With the salaries that you have you should be able to put quite a lot of money each month towards the debts and clear them through good management rather than consolidation or remortgage.

*Sparkle*_3

colgatefootball wrote:

my partner knows about debt yes,why do you ask that?will the abbey give me remortgage for another £50000 knowing the debt i have paid for family member?my credit score is now poor

The reason i asked that was because some people in a relationship are not entirely honest when it comes to admitting how much debt they are in, i was one of those!
Anyway, That's good to hear...

Just give abbey a call for a quote they will ask you a few questions and you'll know whether you can get a remortgage within minutes.

android_2

i will give abbey a ring to see if i can sort something out with them

Evening_Star

This is all really scary at the moment so :grouphug: and well done on :-

1. Admitting there is a problem and seeing all you debts in one place
2. Looking for help.


Try calling Payplan they are really understanding and won't judge you at all. They'll set up a meeting and call you and go through everything they will then give you some good advice whether that be re mortgage or Debt Management plan. You have a good income so paying the debt off will just take time and effort. Don't overstretch yourself on a new mortgage or take out a secured loan if it will stretch you to the limit. A friend got into a similar situation and took out secured loans and was unable to pay as she had overstretched herself so much. She forgott about the basics like eating and bills. Payplan won't let you do that and will advise the best option.

Sometimes another loan is not the option. Take it from someone who knows!!

goodluck and let us know how you get on.

:hello:

android_2

am i better to borrow off my mortgage provider or get a secured loan?