Which way forward?

dancingfairy

Much as your creditors may wish to see you with no heating, no floorboards, with rags on your backs and not eating so you can pay them back that's not how it works -any unsecured credit cards and loans etc are waaaaay down the pecking order.
df

hounslow_boy

chrisd1001 wrote: »

Hi hope someone can help. Have nearly 30k of credit card bills, already remortgaged so no equity. My outoings are £300 higher than my income every month. I pay £850 a month in credit card bills, but would like to consolidate them into a load. Would anyone touch me, if so who? I dont want to lose my house but need to find away to pay off creditcards and cut my out goings.
Thanks

Have you considered bankruptcy?

Good points:

• 30K cc debt wiped
• No equity in property so Courts unlikely to make you sell it
• Credit history wiped after 6 years

Bad points

• Stigma of bankruptcy
• Cost of bankruptcy ~ £350
• Credit rating trashed for 6 years
• You may lose other assets not work-related eg car, furniture

You need to do something, outgoings higher than income is unsustainable unless you're Gordon Brown or Ben Bernanke. Best of luck.

BEAT_THE_DEBT

hi send cc's a soa and then offer a payment pro rata so the highest balance getting most etc. Offer what is realistic to keep to agreement.x

beanielou

Doubt you would get a secured loan if no equity?