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paying loans?
dumb_blonde
Posts: 335 Forumite
in Loans
Hi all;
I currently have my house for sale and when it is sold i will be able to pay mortgage and secured loan and hopefully have some left over.
I am currently paying a token £1 per month to a few unsecured creditors.
I am wondering if i would haveto pay equal amounts towards each debt{wont have enough to pay fully} or if i can pay one or two off fully?Would this be classed as preferential payment?
Also my mortgage is with Natwest and i also have a personal loan and overdraft with them(£1 per month).When i sell the house will they expect all the money for them too.I would need a bit for rent in advance and would like to keep at least one months rent in the bank for emergencies but dont know where i stand.
Thanks
I currently have my house for sale and when it is sold i will be able to pay mortgage and secured loan and hopefully have some left over.
I am currently paying a token £1 per month to a few unsecured creditors.
I am wondering if i would haveto pay equal amounts towards each debt{wont have enough to pay fully} or if i can pay one or two off fully?Would this be classed as preferential payment?
Also my mortgage is with Natwest and i also have a personal loan and overdraft with them(£1 per month).When i sell the house will they expect all the money for them too.I would need a bit for rent in advance and would like to keep at least one months rent in the bank for emergencies but dont know where i stand.
Thanks
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