Sorry, another request for advice on consolidation

chevalier

And the thing is the worst case is that you both become redundant at the same time. If you have unsecured debt on cards then you can just arrange a payment plan for this debt, but if it is added into your mortgage, then you are risking your home
chev

YORKSHIRELASS

Hi

This is something we considered too. I think one of the problems is that I would have seen it as hiding the problem or making the debts disappear. When the debt was on credit cards we were very motivated to find ways to pay more than the minimum.

But the big factor is that if something goes wrong and you cant pay your credit cards you dont lose your home.

We started out with £23k of debt 5 years ago. By working extra hours, cutting back massively, using 0% balance transfers and using a small inheritance that we were very lucky to receive we have virtually cleared it. We also got £2k for a missold PPI policy which went straight to our debts.

If we can do it believe me anyone can!