Help me please

National_Debtline

Hi loubell


I can't say much other than to add my voice to the overwhelming chorus that is urging you to please:


(a) put together an SOA and post it here, or at least contact a debt charity to go through one; and


(b) not hand over £300 to anyone to "restructure" your debt.


Paying the going rate on debts of £33K is going to cost you in the region of (very rough guess) £1K per month and unless you can realistically spare that, you'll need to consider how to arrange lower payments - formally or informally. Without an SOA, though, that sort of very general advice is all we can offer you.


Dennis
@natdebtline

DCFC79

loubell wrote: »

I get what you are saying but these guys seem to be able to bypass the affordability issues that we always come up against when searching for the best remortgage deals ,0% transfer offers and the like,btw we have no intention of ever using credit again.We just want to have a life again as well as pay off the debt.

Don't pay a company to do a job you could get done with 1 of the free debt charities or do yourself.

loubell

DCFC79 wrote: »

Don't pay a company to do a job you could get done with 1 of the free debt charities or do yourself.

thank you all for your replies,i am confused as it was the citizens advice that told me to go down this route as my debt and income was not a problem as far as they could see?
The advisor is on their trusted list i.e unbiased co.uk and says that i would not be defaulting at all just getting a loan or remortgage with a descent interest rate before we start defaulting all over the place.is this that bad?

Grumpelstiltskin

Lou Please contact one of the free debt charities ASAP and under NO circumstances pay anyone anything PLEASE take note of what we are saying.

sourcrates

loubell wrote: »

thank you all for your replies,i am confused as it was the citizens advice that told me to go down this route as my debt and income was not a problem as far as they could see?
The advisor is on their trusted list i.e unbiased co.uk and says that i would not be defaulting at all just getting a loan or remortgage with a descent interest rate before we start defaulting all over the place.is this that bad?

So it's a consolidation loan there offering, and I'm assuming then the £300 is the brokers fee, which will be payable if you are approved for the loan, or not.
I would steer well clear, consolidation loans are the reason half the people are on this forum, the urge to reuse lines of credit, just proves too great, and 6 months down the line, your stuck with the loan, plus your original debt again.

Please phone National Debtline or Stepchange, and get some advice on debt solutions.

Borrowing more money is not the answer, trust me, been there, done that, not a good choice !!!!

loubell

I know exactly what you are saying my friend as i have reconsolidated in the past many times with cards and loans this is the last believe me ,we just want some sort of sanity and organization in our lives now.....there is no going back,we have cards that have available cash on them that we have`nt used in over a year since we made this decision.

slowcoachme

This is a harsh solution, mortgage in your name only, though you keep referring to it as "our".
£33000 debt of which yours is £600.
What is partner doing to solve his debt problems? Would you be better off without him?

asparagus1968

Loubell- the company can be on CAB trusted list, as they are not doing anything untrustworthy / illegal. It's just that they are offering a solution that
1. will cost you
2. may not be the most appropriate solution


RING A DEBT CHARITY !!

Pixie5740

It sounds as though you have been speaking with an independent financial adviser (unbiased.co.uk) and I suspect he is going to consolidate your debts by getting you to remortgage.

1. Consolidation rarely works as many people on this board will testify to. You need to tackle the root cause of your debt.
2. Remortgaging will turn £33k of unsecured debt in your partners name into £33k of secured debt in your name, secured against your home. :eek:

I'm disappointed the CAB would point you in this direction but not surprised given the quality of some of the advice they dish out. Do talk through your options with National Debtline, CAP UK or Step Change. Organisations that actually do understand debt and the solutions available to you.

Nargleblast

loubell -before making any final decisions please contact an organisation like Stepchange or National Debtline. Get their advice and then consider your options. Whatever debt repayment solution you eventually decide on, make sure you do two things. Firstly, get rid of any credit cards or store cards. Then, sort out a realistic budget that pays your bills, repays your debts and if possible allows for saving up an emergency fund in case of unforeseen events e.g. death of washing machine etc. The debt charities can help with that too.