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Advice: Should I remortgage
mx-3
Posts: 195 Forumite
Hi Folks,
Currently I owe around £18k on credit cards & 7k on a loan.
I purchased a house a few years ago, that was in a poor state & stuck most of the cost on CCards.
My income is only £17k a year.....so paying the min payment is the only option, indeed I have quite a few late payment charges of late.
I`m maxed on the ccards so cant swap around for good interest rates.
I Only have a mortgage for £15k & the house is worth around £110k.
What would you do if you were me.....................
Currently I owe around £18k on credit cards & 7k on a loan.
I purchased a house a few years ago, that was in a poor state & stuck most of the cost on CCards.
My income is only £17k a year.....so paying the min payment is the only option, indeed I have quite a few late payment charges of late.
I`m maxed on the ccards so cant swap around for good interest rates.
I Only have a mortgage for £15k & the house is worth around £110k.
What would you do if you were me.....................
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Comments
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Call CCCS on 0800 138 1111 and they will look at everything with you, i wouldn't remortgage at this point, i would get advice from them first as a DMP may be your better option
All comments and advice given is my own opinion and does not represent the views or advice of any debt advice organisation.
DFW Nerd #1320 -
post all your outgoings & income together with full details of your debt (APRs, limits, balances) and I bet we can save you ££££s so you can throw this at your debt.2014 Target;
To overpay CC by £1,000.
Overpayment to date : £310
2nd Purse Challenge:
£15.88 saved to date0 -
What if you were to remorgage & then run up debt again??
Think long & hard before you remortgage
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Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
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