£100k debt in 7 years

Button21

also i meant to say the man from the bank said that we could easily borrow enough to do up the house and we would be adding value to it. he said we dont have to worry about value to loan like some do and that money spent our our property is well worth it. would it be worth really focusing on adding value in the long run?

Button21

happyhaddock wrote: »

Hi Poppy, CCCS is a charity debt service who will help you sort things out and WON'T charge you. This time last week I was the same as you didn't know where to turn and praying for a lottery win;). On Friday I happened to look at the CCCS website that someone on here had mentioned, and completed their DEBT REMEDY. It was very easy and straight forward, just make sure you've got your monthly incomings and outgoings to hand, and it gave me an instant decision and figure for repayment of ALL my debts. It leaves you enough money to live on and I really feel as if I've been given my life back and I'm in control:D.

PLEASE think very carefully before adding your debts to the mortgage as it will seem as if everything is taken care of whilst giving you a false sense of security:( and unfortunately down the line you will start spending again, been there done that:o.

Good luck whatever you decide:)

hello happyhaddock is this bad for our credit file though? if we get on the right path now will that not be best and show we can repay our mortgage and then in a couple of years i can go back on it?

happyhaddock_2

Sorry,but it seems to me they're telling you exactly what you want to hear, and they've had A LOT of practice at it:(

Sorry Poppy, cross posted, yes my credit rating is shot to B***ery:rotfl:, but it would of been anyway through my own doing. Also I've come to the conclusion that credit ratings are a big con anyway:D and I don't want to play the game anymore:)

Button21

he did say that he isnt on commission like a financial adviser and said they are just wanting to help their customers and in the long run it would save us paying high interest rates. i am so confused with all this. i really am rubbish with things like this. i just dont know what to do for the best. we have been trying but its just two steps forward and three back.

Button21

so is a cccs bad for our credit file? what does it stand for? sorry for stupid questions.

happyhaddock_2

:kisses3:Why don't you just ring CCCS and see what they've got to say it can't do any harm and at least you will have another option.:)

Button21

i could, but i think my husband will go absolutely mental if we have to resort to something like this. he sees that as an embarassment. by doing the remortgage it just about puts us in the same position as some of our friends who had to buy their houses from scratch. we are probably in a better position than some of them as they dont have so much savings in their houses as they bought later on in the years. i think if we went to a debt charity that would be the end our our marriage because he would be so angry with me and blame me for it all. this just seems an easy option for us but maybe the best for the long run as at least we will still be together.

happyhaddock_2

Button21 wrote: »

so is a cccs bad for our credit file? what does it stand for? sorry for stupid questions.

Oops crossed again:o
Right:) CCCS is Consumer Credit Counselling Service, and it's a charity who do not charge for their help and advice. They will contact all your creditors (who you owe money to) on your behalf and hopefully get them to agree to a reduced payment and to freeze the interest and not add any further charges. This WILL affect your credit rating, but they will only ask for a monthly payment that YOU can afford, after you have taken out enough money to cover you priority debts, mortgage council tax etc. CCCs will also give you a debt free date which as long as you keep up with the payments to them means that ALL your debts will be repaid, mine is 6 years 5 months:D

Button21

also we have been getting on so much better since we got the idea for remortgaging and getting an offer from the bank even if it does mean taking me off. i think the thought of doing up the house, clearing our feet and a little family holiday has taken the weight off his shoulders again. but i came on here as my friend who is really good with money said its not a good idea and that i should get some advice from the martin lewis website before i decide.

Button21

thank you happyhaddock but i know he will definately not go for that. he would be ashamed to do that. i just know that without even asking. he would walk out on us.