mortgage V depts.

sandy_beech_2

hi,

i bought my home 5 years ago for £19500 released equity, mortgage now stands at £30000.current value £87500.

i have debts on 2 credit cards for £3700 and £600 plus personal loan for £3000 on high interest.plus £800 overdrawn total=£8100

poor credit rating
keep getting refused loans + credit cards

my salary is £23,000 i am 27 years old
just under 20 years left on mortgage.

what should i do????????

dmg24

I assume you mean debts? Not being funny, just took me several reads to understand what you were referring to! x

CLAPTON

Without knowing your monthly income, or your details of your spending or the debt details (APRs, minimum monthly payments) or your general circumstances (kids etc) its impossible to say, but in general borrowing more is rarely a solution for handling debts.
I would suggest you go over to the debt freewanabee board and post up your financial details (an SOA) and see what suggestions people can come up with

PasturesNew

Owes £38k including mortgage
Earns £23k
Young/fit

Easily sorted! Stop spending money on !!!!!!.

But, as the others have said. You need to post up your whole SOA.

You'll easily be sorted out by the advice in here. You're not out of your depth at all. Just need to see where you can make savings.

In fact, with those figures, you could probably continue on after settling your debts to pay off your mortgage in a fraction of the time (if it bothers you).

poppy10_2

^^What he said