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SidGriff
Posts: 1 Newbie
Could I have some advise need help with debt & contacted GofferMoney who said that they could end our worries through NEMO Finance with a secured loan. We are at the end of the cooling off time and are being asked to sign mortgage deed form. I am very worried as they are phoneing me at work to allow the surveyer to check the house.
Could some let me know who I can contact about our debt to perhaps consolidate
Could some let me know who I can contact about our debt to perhaps consolidate
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Hi I am sure lots of people will be along with advice soon. Have you spoke to national debtline, stepchange or PayPal ? I would suggest doing so if not. I would not put unsecure debt to secured.
Please contact one of the organisation's before you do anything.sealed pot challenge 099
2013 £365 in total
2014 ???? Target £400
debt 1 [STRIKE]6753[/STRIKE] [STRIKE]6386[/STRIKE] 0000 debt 2 [STRIKE]4973[/STRIKE] [STRIKE]4731[/STRIKE] 0000 debt 3 [STRIKE]3673[/STRIKE] 0000 debt 4 [STRIKE]2400[/STRIKE] [STRIKE]2239[/STRIKE] 0000
OH debt [STRIKE]3800[/STRIKE]2780
Bank of Mum [STRIKE]£2750[/STRIKE] 20000 -
Definitely speak to a debt charity before converting unsecured debt to secured!! Big alarm bells!
HBS x"I believe in ordinary acts of bravery, in the courage that drives one person to stand up for another."
"It's easy to know what you're against, quite another to know what you're for."
#Bremainer0 -
Could I have some advise need help with debt & contacted GofferMoney who said that they could end our worries through NEMO Finance with a secured loan. We are at the end of the cooling off time and are being asked to sign mortgage deed form. I am very worried as they are phoneing me at work to allow the surveyer to check the house.
Could some let me know who I can contact about our debt to perhaps consolidate
Don't do it !!!! its never a good idea to convert unsecured debt into secured, the fact that they are pressuring you to do this should tell you to run a mile !! especially if the factors that got you into debt in the first place have not been addressed.
If you default on this loan, you could lose your house, there are many other debt solutions that do not involve taking out a secured or unsecured loan, get some proper advice first, National debtline is a good start :
https://www.nationaldebtline.org/EW/Pages/default.aspx
there is also stepchange :
http://www.stepchange.org/?WT.srch=1&WT.mc_id=200012&WT.seg_1=stepchange&gclid=CInytYaYuMACFYrpwgodp2kAbw
both can give you excellent FREE advice, before you make a decision.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Could I have some advise need help with debt & contacted GofferMoney who said that they could end our worries through NEMO Finance with a secured loan. We are at the end of the cooling off time and are being asked to sign mortgage deed form. I am very worried as they are phoneing me at work to allow the surveyer to check the house.
Could some let me know who I can contact about our debt to perhaps consolidate
Good God Above....NOOOOOOO!!!!!
Never ever convert an unsecured debt into secured. Sourcrates has told you why, but I just wanted to add my endorsement to the NO camp.
These people do not have your interests at heart, they want to make money and when you default (and you will), they'll take the house off you and make a fat profit. There is nothing that they can offer you that you cannot either do for yourself, or get StepChange to help you with. This is a short way to more misery.
Finally, consolidation does not work. There is no easy route out of whatever hole you think you are in. You need to spend less, earn more and cut back on fripperies until the debt is paid. No fee paying company has your interests in mind either, so dont go with them. There are debt charities and various Church organisations that will help you for free (or in the case of the Church, mild ear bending about God, but you can live with that).
PLEASE PLEASE PLEASE DO NOT DO THIS.Debt Free! Long road, but we did it
Meet my best friend : YNAB (you need a budget)
My other best friend is a filofax.
Do or do not, there is no try....Yoda.
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Some great points from all the folks above. A secured loan is a mortgage. In effect, you'll be turning unsecured debt into secured debt. This means that there could be a very serious risk of you losing your home should you fall behind on payments. In addition, although the payment may seem low and affordable on the face of it, the chances are you'll be paying it back over a long time - which could end up with you paying a large sum in interest.
There could be alternative options, however. If you can let us know a little more about the background we can all be sure to do out best to help you.
Best wishes,
David @ National Debtline.We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Could I have some advise need help with debt & contacted GofferMoney who said that they could end our worries through NEMO Finance with a secured loan. We are at the end of the cooling off time and are being asked to sign mortgage deed form. I am very worried as they are phoneing me at work to allow the surveyer to check the house.
Could some let me know who I can contact about our debt to perhaps consolidate
Hi
Welcome to the forum
Following on from others and just going on the limited info provided thus far
Any chance of putting up your SOA(useful link below)
http://www.stoozing.com/calculator/soa.php
You could try your local CAB (if you have one) they should be able to provide confidential face to face advice
http://www.adviceguide.org.uk/england.htm
The CAB also have a confidential user friendly online debt advice / info / remedy resource that may help you
https://nedcab.cabmoney.org.uk/
https://nedcab.cabmoney.org.uk/debtremedy.asp
The most important thing is that you get full independent, impartial advice (preferably free) before deciding on anything taking into account any deadlines & time limits
PS - always best to have all details of your circumstances available if you contact or visit any advice agency
Best Wishes
DC0
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