Could You Please Advise My Brother

croboy

Im Really Worried About My Brothers Finances And Need Your Advice On His Best Way Forward. He's Always Been An Idiot With Money And Has Consolidated All His Debts About 3 Times And Its Got To The Point Where He's Finally Reached The Real Limit And Is Panicking As Everything Is Overdue. Id Really Appreciate Some Expert Advice So I Can Point Him In The Right Direction

Income: £1200
Assets: Flat Worth 85k

Liabilities: Mortgage £75k
Freedom Finance Secured Loan £7k
Credit Cards £5k
Cashed Cheques £600
Overdraft £2000

CLAPTON

you should try to bring your brother to this board and post a statement of affairs with full details fo income, expenditure and the debt amount, repayment amounts and APR

best to read the 'sticky' at the top of the bulletin board for 'first time posters'

calleyw

With out a detailed Statement of Affairs it is going to be diffcult to know if there us anyway we can help.

We need to know all his outgoings. So how much is mortgage is per month. Does he run a car. What APR's he is paying on the credit cards and loans. What the min payments are.

Personally I would say it is better that he comes here himself and lays himself bare.

As it is never easy trying to do this in a third party fashion.

Has he reached his lightbulb moment. Meaning he wants to get it all sorted out. If not there is not much you can do. As the the old saying. You can take a horse to water but you can't make it drink.

All the best.


Yours


Calley