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Secured loan for £32,000. Paying back £90,000? HELP

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Comments

  • moneyadviceneeded
    moneyadviceneeded Posts: 8 Forumite
    We have still not had a response from Barclays. Phone call today to gee them up
  • moneyadviceneeded
    moneyadviceneeded Posts: 8 Forumite
    The settlement has come back as £19,000...
  • moneyadviceneeded
    moneyadviceneeded Posts: 8 Forumite
    Some good news on this post. The full amount is being paid by her mother in the spring. We looked and could find no way out of paying this back other than selling the house, paying the rediculous interest over the period set or finding a lump sum of money to pay it off.

    Anyone reading this!!!! DO NOT FALL INTO THIS TRAP.

    I was spitting feathers at the woman in Barclays regarding this and had to walk away.

    Happy ending to an otherwise rubbish position.
  • andyfromotley
    andyfromotley Posts: 2,038 Forumite
    moneyadviceneeded wrote: »
    Anyone reading this!!!! DO NOT FALL INTO THIS TRAP.

    .

    I'm glad its all worked out for you but i am puzzled as to what trap you are referring to? Your ex took out a 25 year loan at a hefty(ish) interest rate. As would be expected she has paid a fair bit of interest.
    Wheres the trap?

    (i do not include the PPI in this for which you should check she has been FULLY compensated)
    £1000 Emergency fund No90 £1000/1000
    LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
    !
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