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Not sure i've done the right thing, secured loan
papermoney
Posts: 583 Forumite
We decided that we didnt want to move house and leave the property ladder, so we have taken out a secure loan, we know that means we pay less each month but over more years but are hoping that in 5 years time with extra payments to our mortgage we will be able to remortgage and become debt free that way.
I'm wondering if it's the right thing to have done. We couldn't carry on the wayu we were before and i didn't fancy the IVA route - although admit i dont know alot about it.
This way we can live again, not lose our house and maybe smile at the end of the day.
But i still have those niggerly feelings.
I'm wondering if it's the right thing to have done. We couldn't carry on the wayu we were before and i didn't fancy the IVA route - although admit i dont know alot about it.
This way we can live again, not lose our house and maybe smile at the end of the day.
But i still have those niggerly feelings.
:rotfl:
0
Comments
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post and SoA if you feel its appropriate and explain about the loan etc
see
http://forums.moneysavingexpert.com/showthread.html?t=1072800 -
What's done is done at the end of the day! What you need to do now is learn from the lesson & stop spending. Have to say it took me a while to do this as I was lulled into a false sence of security by taking out endless loans but didnt stop spending until I had my lightbulb moment - £35,000 later...Do you do things like spending diary etc, sorting out cheapest providers & cutting back as much as you can...good luck with it...Nerd no 109 Long haulers supporters DFW #1! Even in the darkest moments, love and hope are always possible.0
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I posted an SOA a while back but things have just got too much
We owe
AA 7500
Egg 14800
Hsbc 6800
Various credit cards £7000
total of £36100
we bring home £1600 amonth and our outgoings are £2300 and that's without food and car insurance.:rotfl:0 -
try posting a SoA again...things have changed haven't they but up to you of course.0
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