30k unsecured debt

harveybobbles

Tommytomo wrote: »

Hi

I have 30K worth of unsecured debt on loans & credit cards. I also have 5k on pay day loans.

I am not behind on any payments but due to large amount of unsecured debt I cannot get any loan to consolidate and due to keep applying I have low credit score.

I cannot enter in debt mgmt plan as I will lose my job as I work in the financial industry.

Any ideas what to do ?

Also I own my own property & have 63K equity in it but it's only 77% LTV outstanding.

All ideas appreciated
Thanks

work in financial industry and is FSA regulated? Troll anyone?

Family_in_debt...

Why do you think it is troll ???

geelamch

Would you pay this IFA registered guy for advice.hmmm? He's getting some dood tips here ie, dmp etc .but if I pay this guy for advice. Then I expect him to know of resolutions.

michael1983l

geelamch wrote: »

Would you pay this IFA registered guy for advice.hmmm? He's getting some dood tips here ie, dmp etc .but if I pay this guy for advice. Then I expect him to know of resolutions.

You do not need to know about DMP or IVA's to sell insurance. Why can't this guy have an FSA license and not know about these things?

geelamch

If finance dealings are your work area then I expect you to know the ins and outs of money,quite simple.if I employ a builder I expect him to have a knowledge of drainage,plumbing,electrical paths etc.quite obvious to all

michael1983l

geelamch wrote: »

If finance dealings are your work area then I expect you to know the ins and outs of money,quite simple.if I employ a builder I expect him to have a knowledge of drainage,plumbing,electrical paths etc.quite obvious to all

I'm not sure that how it works I'm afraid.

Danni-R

Well he's not come back.

I kind of agree that he might be a bit bored.

And if he's not. I second the advice, NEVER turn unsecured debt into secured debt.

jubilee14

my work requires evaluation of finacial status ( although not in financial sector) but checked it out and they said would be ok as not formal and i think in current climate the view is honesty is best.

I think the only issue is what responsibility he has for financial ( is he able to / susceptable to being influenced because of his financial situation? i dont think its a one size fits all because it depends on what you do and what risk you are to your employer reputational and financial.

Might not have come back because working.