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mauler
mauler Posts: 2 Newbie
in Debt-free wannabe
I am about to lose my job next week and need to reduce my outgoings by reorganising my financies, i have two loans =£10,000 and my mortgage is £100,000 what would be the best way of doing it ? i have a repayment mortgage. desperate

Comments

  • debtinfo
    debtinfo Posts: 7,012 Forumite
    hi, this bit of the website is about bankruptcy which is the final option. If you post on the debt free wanabee board, they are experts in reducing outgoings and im sure they woud be happy to help
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • Tixy
    Tixy Posts: 31,455 Forumite
    Hi Mauler

    Do you have any PPI/ASU insurance at all that you can claim on? will you be getting any redundancy pay? Will you be entitled to JSA? have you researched if you may be eligible for the government mortgage interest help (can't think what its called).

    You may be best to work out a statement of affairs to see how much you will be short each month and where else you can make savings.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • RAS
    RAS Posts: 36,136 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    here id the link to the SOA http://www.makesenseofcards.com/soacalc.html calculator.

    Is you loan secured or unsecured?
    If you've have not made a mistake, you've made nothing
  • Tixy
    Tixy Posts: 31,455 Forumite
    http://www.moneysavingexpert.com/mortgages/mortgage-arrears-help#paymortgage

    This is about the government mortgage interest scheme
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • mauler
    mauler Posts: 2 Newbie
    Hi, thanks for the help
This discussion has been closed.
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