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Secured loan
Comments
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Thanks fatbellyAnother possibility would be a Time Order under s129 of the Consumer Credit Act as the secured loan would be covered bt the CCA not AJA. National Debtline have a factsheet here but they are tricky to get through and the proposal must be 'just'
https://www.nationaldebtline.org/EW/factsheets/Pages/timeorders/securedloansandmortgages.aspx
It remains to be seen whether time orders are any easier to get approved by the court since the Mortgage Credit Directive came into effect in March 2016. We are looking forward to hearing feedback from any homeowners and advisers involved in applying for them.
Dennis
@natdebtlineWe 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
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