please help ...moved from loans forum

harty_2

Hi I have recently lost my job where I was unemployed for 3 months but started A new one but for much less money me and my partner have several debts that we are now seriously getting into trouble with we have an unsecured personnal loan that has £4000 left to pay at £204 amonth, a secured loan that has £3000 left at £220 a month ,visa card that I owe £2500 which I can only afford to pay back minimum payments each month but the interest is £80.00 a month also capital one £1.500 minimum payments again and partners capitalone £2.000 which again is minimum payments a month but have to pay the interest .We own our house and have equity to roughly £60.0000.We tried to get a loan /remortgage on the house so we could pay back everything and leave us with just the mortgage to pay because it is all the interest that is wiping us out but the Chelsea said because we owe 2 months mortgage they cant help us .our mortgage is only £216.00 a month now so we was looking for an amount to pay all debt off if anybody can offer us advice it would be greatfully recieved thanks to all in advance ........

MissKJ

Morning Harty. You need to start at the beginning, and as soon as possible. Don't let the situation deteriorate any further. Look at the sticky by Southern scouser at the start of this board, and do your own SOA (state of affairs). Post it on this thread. People on here will help you to get better deals, increase oyur income and straighten out your budget. The sooner you start the better.

Good luck.

rayday2

I know its easy to say after but you are much better missing paying credit cards and unsecured loans than missing mortgage payments, your mortgage is your roof over your head.

Personally I would (and wish I did!) speak to one of the debt charities rather than taking on secured debt, I wish my mortgage was that small. You would still pay your mortgage and secured loan but hopefully get interest frozen on your unscured and then start paying them off slowly.

This would impact your credit history but as you have already seen not paying your mortgage has done that too. If this sounds of interest then contact either Payplan, CCCS, National Debthelpline or the CAB all of those are there for impartial advice and have answers for you!

BTW there is no southern scouser sticky anymore at top of forum its a moderator one something about where to start or something if you do want to post a SOA.

Lucy1982_2

The thread is now by MSE Andrea. Have a read of it as it is really helpful. Other than that I can't add much more to what everyone else has said.

Good luck