please help!!!!

android_2

i owe £50 000 ,£25 000 on unsecured loan and 3 credit cards totalling £25 000.i have borrowed this amount over last 6/18 months because family member in trouble with bad people,now i have got rid of his debt but now i owe £ 50 000 and struggling to pay debts.i have applied to abbey my mortgage provider for additional home loan for the amount will i get it .i earn £44 000,wife £ 18 000.house worth £235 000,mortgage £57 000. i have made 3 payments late but all up to date my credit rating is POOR is this because i have borrowed alot of money over short period of time or because of my late payments!!!!should i inform abbey because in principle i have been agreed please advise very concerned please help!!!!!!!!!!

jobbingmusician

1. Contact CCCS or PayPal

2. Read other threads here

You CAN get out of this mess, and other people have done it - from reading other posts, you will feel a lot better once you have done no. 1 on this short list

Good luck, and welcome to the board.

mountainofdebt

colgatefootball wrote:

i owe £50 000 ,£25 000 on unsecured loan and 3 credit cards totalling £25 000.i have borrowed this amount over last 6/18 months because family member in trouble with bad people,now i have got rid of his debt but now i owe £ 50 000 and struggling to pay debts.i have applied to abbey my mortgage provider for additional home loan for the amount will i get it .i earn £44 000,wife £ 18 000.house worth £235 000,mortgage £57 000. i have made 3 payments late but all up to date my credit rating is POOR is this because i have borrowed alot of money over short period of time or because of my late payments!!!!should i inform abbey because in principle i have been agreed please advise very concerned please help!!!!!!!!!!

Have you followed any of the advice given to you in the previous thread that you posted about this?

If not, why not?

If yes, what advice did CCCS/payplan give you?

Until we know the answers to that, we really can't advise further.

bonnie_2

i thought i recognised this post, why dont you post a statement of income and outgoings.
you shouldnt really be struggling on your level of income, my hubby only takes home £15083 and theirs 5 of us.

magentadreamer

If I've read this correctly you borrowed £50K to help someone else, so what are they doing to repay the debt they now owe you?

Abbey will do a credit check so they'll know how much you owe on other cards/loans etc even if you don't tell them,so might be best to be upfront with them explaining how they're loan will be paying off the other debts.