Really is my last resort

Mark_J_Bateman

Hi there

I must admit I am new to this forum - but I have I need to try anything to be honest

We are in the middle of a remortgage, we have a suspsended possession order on our property and a deed of postponement as a second charge - the intention is to remortgage and get rid of both of these - this was due to something that ahppened in my business a couple of years ago which also meant I am going through an IVA at present

Funnily enough I am an accountant who help sother people with financial difficulties if they are behinf on their accounts with HM Revenue & Customs

I cannot borrow any money from banks and lending institutions and I have no family with any money

I have plenty of work going forward and have a project in the pipeline that could make me alot of money in the future

Anyone in alot of debts knows whats it like and I am now receiving final letters despite a remortgage going through

I know everyone tells you not to boorow but I am looking for an instituion where I can borrow £5k over three months - this will

Releive pressure aloowing me to work and earn money - this is what I am good at when I can relax
Keep teh dogs from the door - and stop the letters
See the remortgage go though quickly

I almost know the replies but you never know if you dont try

thanks for reading my thread - any advice (despite from hanging myself) would be appreciated

Mark J Bateman

Rafter

Mark,

Approaching the 'open market' with a history like your is going to be a non starter.

You either have to go via some horrible impaired credit lender who is going to charge a fortune and even then the chance of getting £5k looks slim. They may well want some sort of charge on your property which is going to hold up your remortgage still further.

The best bet seems to be to approach someone who understands your position and also how well your business is doing now.... ie your current bankers.

Talk to a real bank manager, borrow using your forward business plan as security potentially, although again the bank may want a charge on your property.

Not sure who you are remortgaging with, but if you have a good mortgage broker and a good amount of equity in your home, at least 30% you should be able to get a self-cert mortage fairly quickly to get you back on track.

Good luck.

R.

mrcow

Mark_J_Bateman wrote:

any advice (despite from hanging myself) would be appreciated

And you can stop talking like that right now too!

I don't have any more ideas, but just wanted to wish you luck. It reads as if you are at the bottom of a slope, but things are moving in the right direction.

You can always try posting on the debt free wannabe boards on this site too as there is a wealth of experience over there (and it tends to have a little more"traffic" than the loans boards ).