Debt trouble, loans, help?

Herzlos

Will your bank allow you to remortgage with a very low LTV (loan to value), even a £10k mortgage will be pretty safe with £90k equity. You do risk losing the flat if you default though.

freebiz14

Think it's time to redesign your lifestyle and search for opportunities to generate some extra income to help start over. The sooner you face that you have to start over the better. It's gonna be a tough journey but no one's going to welcome you with a loan under the circumstances

fozmcfc

I agree with other, saying something left over to have a holiday, just mean, that you are not 100% committed to getting yourself straight.

Those who are serious about clearing debt, will drop all luxuries. They'll drop most non essentials too, until they are able to afford them, without increasing debt.

National_Debtline

Hello there,

Borrowing against the property has its risks. In fact, what you'll be doing in essence is turning debt which is regarded as being a 'non-priority' into a potential 'priority'. As the others have mentioned, failure to keep to the terms of the secured loan (aka mortgage) could result in repossession. It is, however, relatively simple to negotiate reduced payments on your credit debts - It might be useful to create a financial statement - we've an online system which can provide further advice and support: mymomneysteps.org

Alternative you could post up your statement of account here: http://www.stoozing.com/calculator/soa.php

The tax is a priority as HMRC have a wider range of tools that they can use. I would certainly urge you to pay this one prior to credit debts. Generally you *should* be able to clear tax over a maximum of 36 months.

Really hope you find this information useful.

David @ NDL.