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Upcoming Debt
jonsyt
Posts: 88 Forumite
Im not sure if im putting this in the right place so sorry if its wrong .
About a year and a half ago i lost my job when the company i worked for went bust . At the time of working i was already struggling to keep up mortgage payments on my house and was falling way behind with payments so losing my job was the final nail in the coffin and the house got repossessd .
At the moment i am unemployed and only in and out of work with agencies so when i do work its not secure .
I owe £56435 mortgage and the bank started of the selling of the house at 45k after the year the house is still not sold and is now on the market for 32.5k but the bank has accepted a offer of 27.5k so when it does sell im looking at debt of at least 29k .
Im 24 and have not really dealt with debt in much way at all and im pretty lost as to what i can do when the letter comes to the door in the very near future . What types of things could i put in place to repay this debt , Will i have to go bankrupt , iva`s ect . Any advice will be greatly appreciated .
About a year and a half ago i lost my job when the company i worked for went bust . At the time of working i was already struggling to keep up mortgage payments on my house and was falling way behind with payments so losing my job was the final nail in the coffin and the house got repossessd .
At the moment i am unemployed and only in and out of work with agencies so when i do work its not secure .
I owe £56435 mortgage and the bank started of the selling of the house at 45k after the year the house is still not sold and is now on the market for 32.5k but the bank has accepted a offer of 27.5k so when it does sell im looking at debt of at least 29k .
Im 24 and have not really dealt with debt in much way at all and im pretty lost as to what i can do when the letter comes to the door in the very near future . What types of things could i put in place to repay this debt , Will i have to go bankrupt , iva`s ect . Any advice will be greatly appreciated .
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Comments
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I didn't want to read and run!! Don't give up, I'm sure that everything will be fine and one of the forum experts will be along soon to give you stirling advice!!
Original Mortgage Debt - £130,330.
Current Mortgage Debt - £116,605.
2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
Original Loan Debt - £6,000. Current Loan Debt - £3,500.
Original HP Debt - £1,000. Current HP Debt - £240.0
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