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awaiting salary payment as payment in arrears
March2012
Posts: 487 Forumite
no credit card means that i cannot pay the mortgage on time. any ideas?
0
Comments
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pay day loan, Overdraft, Ask friends/family?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Speak to your lender and see what help they can offer you.0
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Can you partner pay it? Can you use your savings?Overactively underachieving for almost half a century0
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Pay day will tarnish your credit history and making future loans difficult, especially mortgage menders"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
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Less, and the impact will drop faster (assuming its not repeated0Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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If the choice was 1 month mortgage arrears or 1 month pay day loan, I would choose pay day loan every time. Some high street lenders do not mind pay day loans at all, every high street lender would not like mortgage arrears.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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You could try to apply for a money transfer credit card or a loan.
E.g. http://www.tescobank.com/credit-cards/money-transfer/index.html?atlassource=paid&cmpid=ppc/acq/cc/g/bp/na
I think for this one you have to wait for the card to arrive though so your timescales might be too tight?
I would hate the card to get you into financial trouble though - are you sure your late salary will arrive?
Tlc0 -
What happens next month ... and the one after that ... and the ... etc.
Yes, PDL may be a short term fix but whats the long term one? Will your mortgage provider give you (say) a 2-3 month interest payment 'holiday"? Thats not free, you'll have extra interest to pay but maybe it will give you time to restructure your finances so long term you are in a better place.
Post on the debt free wannabee forum to get help so this doesn't turn from a short term issue to a big problem.0
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