Time to re-mortgage?

ihavenoidea

Hi I'm hoping someone can offer some advice please. I've had a nightmare few years, fighting through the courts to get my house put into my name following a re-mortgage that went badly wrong some 12 years ago.

Although the house is now in my sole name, I have run up close to £20k of debt in solicitors fees. I have a case outstanding with the Financial Ombudsment (it has been with them over 18 months now) but cannot rely on them finding in my favour.

At the moment, I have a 7 year bank loan for £14,500 and a credit card with £5 ok (both used solely for solicitors, etc), but am being dragged deeper into debt.

I'm just not sure what to do. I could try to re-mortgage, but I feel that my debt levels at the moment look as though I can't handle money, which isn't the case.

There isn't a massive amount of equity in the house either (about £40k max) which means I won't attract competitive interest rates.

Any ideas? I'm not sure whether a financial adviser could help or a mortgage broker but I need to try and bring down my monthly debt repayments, which at the moment are totalling around £400 on top of my mortgage. Any suggestions would be really welcome. Thanks

Consumerist

I think this post would better be put on the Debt-free Wannabe board where you will get plenty of advice on dealing with debt from people who have been there or are still there. You may find it useful to prepare a Statement of Affairs so that it can be commented on by those with experience.

bengalknights

The credit card you should try doing a balance transfer for if possible to cards that have 0% interest this should save you a considerable amount and allow you to save up and clear the debt down.