Advice re Mortgage and Credit Card

rhubarb88_2

Hi, I'm very much thinking about a DMP as my debt is spiralling out of control and I'm so worried. Will it matter that one of my credit cards is with the same lender as my mortgage? All payments are up to date but I'm so concerned that I might lose my home.

happy_bunny_2

Hi there.

Best thing to do is give one if the debt charities a call, like stepchange. They can talk you through your options.

They cannot just take your house because you owe non secured debt.

HB

FireWyrm

I never have unsecured lending or banking with the same bunch who provide my mortgage simply because of the danger of 'offset' where they take money intended for one thing and pay off a debt, without consulting you.

I would be inclined to ensure that credit card was moved elsewhere first before you let on that you are in difficulties. It is probably the last time you'll have a chance to restructure your debts before the SHTF when you start telling people they are not going to get paid exactly what they were expecting.