Another plea for help

mallard

Found out recently that other half has put over 80k on cards some of which belong to me. This kinda tipped the edge and so seperation and divorce is happening but in meantime have to sell the house anyway. Because she is on benefits the companies written to have been suprisingly understanding but they aint with me cus i earn! With getting house on market (needs tarting up but that takes time) and selling it looking at few months. House is probably worth 220k and we own 98k on mortage so should have enought to pay them off and then have a few grand left.

So is it possible to get a short term loan to keep all the sharks at bay. Otherwise they are carrying on putting interest etc on the cards. DMP is more long term so that is not a possible solution. Plus i don't have the finances to pay everything each month.

Any suggestions would be really welcome to cope with interim hassles....the phone is redhot with calls from them all!

Thanks mallard

chilli_dog

dont think a loan would work here. your credit history is probably shot with late payments and defaults (sorry if im wrong).

Can you explain what your plan is to your creditors and offer them token payments?

If you are getting hassle on the phone then you can explain to them you will only deal via letter, I doubt they will but its worth a shot.

chevalier

There are companies that buy houses at a discount. The advantage is that they are cash buyers and have no chain. The downside is finding a genuine one, and that they don't pay the full market price.

Other than that did your OH run up the debts with your knowledge or without. If without can you tell the companies this and put the debt back on her?

My final thought is whether your mortgage lender would short term extend your mortgage? Not an ideal solution, but you could pay off your debts now and then the mortgage when the house is sold?

I would strongly suggest you have a word with the CAB to see what your options are
chev

mallard

Hi both thanks

Credit history is probably crap now! Have offered token payments but what i can pay is trashed by the interest and some will only give 3 months leeway.

Tried the mortage people but now high risk so won't lend more

Could drop the oh in it but because of depression has done the compulsive spending and it wouldn't achieve anything by shopping her...she can't pay anyway!

Yeh the companies might be an option...know of any reasonable ones if that is possible?

Revenik