I owe 70k worth of unsecured debt can i get a mortgage

Wutang_2

stebiz wrote: »

I would sell up and bank the cash with family. Then I'd do a Harry Hill to the creditors and say =Fight=

Obviously this would affect your credit record for a few years. But I'd keep my head down in Rented Accommodation and watch the fun pursue. In the meantime learn to live within your means!

Most of it is probably unenforceable anyway.

=:j=

ps This is from a guy whose light bulb moment was 50k, who also had 'properties' with a fair bit of collateral, and who had all of it unenforceable.
Only difference was that I didn't move house!

Oh dear I fear a Stebiz bashing coming on from the morals brigade!

I think the realising when one is in too much debt, as mentioned, differs from your 'lightbulb moment' of realising they can't be bothered to pay any of it back.

stebiz

Wutang wrote: »

I think the realising when one is in too much debt, as mentioned, differs from your 'lightbulb moment' of realising they can't be bothered to pay any of it back.

Not really a case of couldn't be bothered. It was more a case of 'playing the system'. A little bit like the bankers did. Play on the roulette tables, bank the cash when you win. Oh and when you lose come to the tax payer and still keep all your winnings!!

The 'City' don't care about me, and I don't care about them. My main priority is my family, and making sure they have the luxuries I can afford to give them;)

Antispam

OP earns a good wage. Pay his/her debts first, save like hell to get a good deposit and 2 years on will have a decent deposit, they are quite lucky getting that sort of wage in first place

Better than many of us pheasants on minimum wage that will never get opportunity to get a house unless they win lottery, get money from a will, work damn hard, marry some rich person or whatever

Wutang_2

stebiz wrote: »

Not really a case of couldn't be bothered. It was more a case of 'playing the system'. A little bit like the bankers did. Play on the roulette tables, bank the cash when you win. Oh and when you lose come to the tax payer and still keep all your winnings!!

The 'City' don't care about me, and I don't care about them. My main priority is my family, and making sure they have the luxuries I can afford to give them;)

ok, was just pointing out the difference between realising you're in debt and dealing with it and the playing-the-system cliche.

stebiz

Wutang wrote: »

ok, was just pointing out the difference between realising you're in debt and dealing with it and the playing-the-system cliche.

Fair comment :cool:

hillcats

I think most people have indeed pointed you in the right direction here.
You need to pay off those debts as being truthful, I don't think ANY mortgage provider would lend to you in your current position TBH.

Fang_3

Don't move. Stay put, and pay all your extra cash into paying off your debts. Post your SOA on the Debt Free Wannabe board and people will be able to help you.

Fang_3

Antispam wrote: »

OP earns a good wage. Pay his/her debts first, save like hell to get a good deposit and 2 years on will have a decent deposit, they are quite lucky getting that sort of wage in first place

Better than many of us pheasants on minimum wage that will never get opportunity to get a house unless they win lottery, get money from a will, work damn hard, marry some rich person or whatever

It's more likely that the OP has worked extremely hard to get that wage. Luck has nothing to do with it.

mitchaa

stebiz wrote: »

I would sell up and bank the cash with family. Then I'd do a Harry Hill to the creditors and say =Fight=

Obviously this would affect your credit record for a few years. But I'd keep my head down in Rented Accommodation and watch the fun pursue. In the meantime learn to live within your means!

Most of it is probably unenforceable anyway.

=:j=

ps This is from a guy whose light bulb moment was 50k, who also had 'properties' with a fair bit of collateral, and who had all of it unenforceable.
Only difference was that I didn't move house!

Oh dear I fear a Stebiz bashing coming on from the morals brigade!

So sell the house, hide the £53k profit, and then declare himself bankrupt:rotfl:

I'm sure he will get away with that, he'd more than likely get a jail sentence.

stebiz

mitchaa wrote: »

So sell the house, hide the £53k profit, and then declare himself bankrupt:rotfl:

I'm sure he will get away with that, he'd more than likely get a jail sentence.

Did I at any stage say declare himself bankrupt? Hang on - let me check.............er NO. Please read the post. I said that most agreements are unenforceable, and even if he was taken to court (unlikely) he would be able to settle at a fraction of debt owed.