What too do

lostthelot

Hi , New to the site, been in severe dept for about a year. WE set up a management plan with the (cccs) in 2006. but know go it alone.

Only thing is problems with creditors is getting painfull, have got to do something. We owe 75k. and at this rate will be paying them back til I retire.

Thinking of IVA, not looked into the whole repayment thing yet. BR would mean lossing the house, and with 3 children I just cant think of it. We do have equity in the house, but I was told we wouldn't be able to remorgage, due to the credit rating.

what to do

tigerfeet2006

Hi and welcome to the board.

Your first port of call should be to contact one of the Debt Charities; see links below. Their services are free; they have no vested interest to serve; their advisors are professionally trained and the advice they give will be objective and in your best interests only. CCCS operate a system of telephone appointments that are designed to be flexible and don’t require you to attend an office based interview. At the CAB you will need to make an appointment with a specialist Financial Advisor; other advisors may not have the specialist knowledge you’ll need.

http://www.cccs.co.uk/

http://www.nationaldebtline.co.uk/

http://www.citizensadvice.org.uk/index.htm

If you are advised that bankruptcy or IVA is the most suitable solution to your financial problems then we can offer the best support and anecdotal advice that you’ll find anywhere on the Web.

For more specific advice and support, in an environment that is managed by people with first hand experience of bankruptcy, and moderated to ensure that no deliberately inflammatory or abusive posts are made then please visit:

http://bankruptcysupportersclub.co.uk/default.aspx

Just remember, as desperate as you may feel at the moment, we have all experienced what she is going through at the moment and with the right support and advice things will improve. It’s not an easy route to take but it is a route that will put you back in control of her life rather than just reacting to events.

This is a pro forma response but it's an essential starting point.

(thanks Richard!)

fiveyearplan

There is always ways to get a mortgage if you want one. Check with a few mortgage advisors.