behind on mortgage, could we reduce it?

slummymummy66

Thanks, i've had a good read through and found a few handy tips.

mixedupdebt

Hi Slummymummy,

Post a SOA (statement of affairs) over on the the debt free wanna be board so we can see a break down of your expenses. Given the high value of your current house and low loan value, why not take out a secured loan to cover the debts (if the debts are more than £25k) or shop around for a decent loan to cover it (if less than £25k). Excluding the arrears debt, can you cope on your current household income? I'm just looking to see if you may be able to restructure the mortgage and debts and still keep your existing house - saves all the hassle of moving or renting. Your SOA will help on this.

As for the pitbulls ( sorry ... debt collection agency), stop talking to them by phone as its likely only being recorded by them and not by you as well. Write a letter to them (search debt-free-wanna-be forum for template letters) and revoke their right to contact you via phone or in person. State that you will ONLY deal with them via writing. Start keeping a call log by the phone. Log every attempt they make to contact you (caller display is great for this - as you don't even have to answer the phone). If they only ever call from withheld numbers, its up to you if you answer, but still record it and never get into a discussion on the phone with them re the debts. You can simply answer the phone, ask which company it is that is calling and then refuse to confirm your personal details with them over the phone - they then can't talk to you as they can not be sure it is you. Do not ignore them thou - just write to them. Read some of the templates to see what else you want to include in it. Also always send the letters via recorded delivery to prove they got it.

From slummy to yummy in no time at all.

Mixedupdebt.