Help me... I guess it's time to just reach out and touch...

Sugar_Junkie

Aww you have such wonderful parents

The only thing I wanted to just mention is if your parents are going to opt for getting an unsecured personal loan for any of it they may have problems if they say it is going to be used to pay off your debts. I used to work for a loans company and we weren't supposed to key a loan for this (although I suspect some people did) as the debt that was being consolidated wasn't the applicants. Obviously I'm not suggesting they lie and say it's for home improvements or to buy you a car or anything, but just wanted to let you know incase you encounter this. Make sure they check what they can use the loan for before they get taken through the application and credit searched. Good Luck. *hugs*

tealady

:grouphug: Panicking, I can't type to well as I am having problems seeing due to some watery salty stuff. You have parents like mine, the sort who would walk through the gates of hell for their kids. So you have to repay them, not just the money but the faith they have in you. Keep that in mind when times get hard (as they may - DFW has its bad days for us all). DON'T lose your sense of humour though, it has brightened the days of a lot of people. I have this thread emailed to me, thats how much I enjoy your posts so please keep us up to date.
:grouphug

Karmacat

Hi PH
Wow. You must have been beside yourself when you had that sitdown with your mum and dad. I'm glad for your sake that its come out, and they can do something that you can accept.

I think Hypno's idea, of coming on here every day, keeping going, is really important - your debt won't exist in your finances, it will exist in your mum and dad's, so you need the push that you can get from here to cope with it all. And everyone else has made important technical points. You need both, you really do. You *know* you want your mum and dad suffering in this way for as little time as possible, so you'll probably need to focus on a couple of things at a time, get them going - everything takes longer than you think -and do that over and over again until everything's at the minimum.

I just switched energy provider, for instance, and tho the new contract is operational and saves me hundreds of pounds a year, I'm hearing odd things about the per unit costs of the two suppliers involved, so I need to check that out, see if I'm being set up by a stupid marketing ploy (tho I checked it out via uswitch). The detail of this stuff can be offputting, but you really need to do it. As long as you can do that, with your mum and dad and with each costcutting procedure that you put in place, then go for it, and don't look back.

Then you look at finding additional income, a whole other ball game. You're quick, you'll find some. Go for it.

Sugarhunny1

Wow, what can i say? I have just sat and read through all 9 pages of your thread and what a journey you have been on and continue to battle your way through.

I cant advise on the situation at hand but wanted to know that i'm sure someone who will know whats best will be along soon with some expert advice.

Keep us updated and when all is sorted..... we want some dragons!!!!

Sugar xxx

PanickingHARD

Hi all... Just a very quick update... Sorry it's a bit serious again...I wanted to let you all know, first and formost that I love dragons... hehehe...

Sorry, just kidding...

Seriously though, I have never been this determined, ever, about anything...

All your concerns are brilliant, and exactly what I needed to hear, because I thought I was going mad with all the "What if I can't do it", "What if I f&*$ up", "What if I lose sight of the debt, because it's in their name", etc etc etc, but it appears that you have all thought those things...

That means, as I suspected, that either NONE of you trust me (Hehehehe... *Shy grin*), or that you are all like me really... And know, can spot at a thousand yards your own weaknesses and understand that I'll have the same ones...

Either way... Y'all have nothing... I repeat... NOTHING to worry about...

I have been offered a faster solution... If you believe me when I tell you I have truly had my LBM, and that I WILL be debt free... then ask yourselves, with your own DFW heads on... Would you not take it? Would it REALLY alter you? Change what you have become?

It won't me either...

I seriously, honestly and truly love you all... Even the blokes... NO manly handshakes this time... Straight up MANLOVE...

You are all my heroes (along with my Dad)...

This is short cos I'm on to my dad, the bank, EVERYONE...

I'll be back... and I will reply to EVERYONE....

Keep the ideas coming, as I think the possible solutions are going to be many... I need to know how to put them through as LITTLE as possible... But believe me... I'd NEVER even consider this if I wasn't 100% CERTAIN I could stick to it...

And keep in mind when you are coming up with ideas that I may have £12k by the end of the weekend... MAY...

xxxxxxxx

Sea78

PH - fantastic news I think you have some wonderful parents there. i have no doubt that you're now going to do everything you can in order to get this debt down and gone - especially now it's going to be in their name! By the way - I would think about waiting that 6 months now to get your name of the mortgage and sort it all out properly. Yes, you trust her but now you have been given this ray of hope, it might be worth getting out of the whole situation.

Sea xxxx

tealady

Don't talk to me about weaknesses, I have almost every one! (and being Welsh I have a fondness for dragons too) Seriously though your mum and dad have offered you a big hand up, don't let it become a hand out (we won't let you cos we care).

PanickingHARD

OK...

I need a bit of help...

Their Mortgage has only 3 years to run...

The repayment on my debt, borrowed from their mortgage would be too high for me... they owe just over what I do, and costs them about £600p.m. ... I couldn't take a repayment of circa £600... with everything else in... and being sensible about my SOA... Not every month... Not as a guarantee...

So... He is gonna get a loan in his name...

I think thats the best way... I need to borrow... to clear IT ALL... is £27,739.45 (*SIGH*)

He will be able to get the best deal in the market, I'm sure... But it's gonna have to be unsecured...

Can someone tell me this is the right thing to do (or if it's not), while I go and search on here for the best loan rate around...

Or anything else that will help...

Please...

*sighs again*

x

PanickingHARD

Oh... and I need to be able to overpay and not face penalties, etc etc...

So... I'm going for as low an APR, over as long a term as that will allow, that will let me overpay...

Yes?

*weep*

Karmacat

PH, sorry, I don't get it.

The repayment on my debt, borrowed from their mortgage would be too high for me... they owe just over what I do, and costs them about £600p.m. ... I couldn't take a repayment of circa £600...

If the loan is to repay your debts, then you wouldn't have the other payments any more, surely? The £600 would be the only thing that you would pay out, wouldn't it, it wouldn't be on top of everything else? Apologies for not understanding when you're obviously feeling really down again, just wanting to make sure the logic is right.