You might as well take my DFW number off me, I've failed.

Triker

Well what can I say, I'm now desperately scrabbling around looking to take out a loan.

We are seriously running out of money just to get by each month.

My house isn't selling, hardly any viewings and with us both carrying 2 mortgages it's just ridiculous.

All options have been explored so far, would qualify for a better mortgage rate but no point in aplying as house for sale, cannot remortgage to pay off any debts as house for sale.

I've defaulted on a credit card payment by going over my limit and have a mark against my credit file so its not looking good.

Tried to balance transfer onto my M and S CC but they have said they have stopped balance transfers.

No discernable dent in any of the debt and just bobbing along in a sea of grimness at the mo.

Can't sleep, just seem to have had one expense after another.

Best get on to work eh, can't afford to lose my job!!

tallyhoh

Are you saying you have 2 properties? If you have, can't you rent one out or if you have one property, can that be rented out while you find something dirt cheap to rent yourself.
Dont you have anything of any value to sell? empty your (or your partners) cosmetic & perfume bags & sell the lot on ebay. Do you have any bikes or other expensive equipment to go? What about clothes?

Is one property empty (if you have 2) are you claiming council tax exemption? are you paying insurance on it? it may not be valid. If its empty you could be exempt from water charges etc.

Put up another SOA for ideas.

tallyhoh

P.S Taking out another loan would not really make any sense cus you would have another bill to pay.

In_Search_Of_Me

no-ones taking your number of you! Would you consider putting your cuttent SOA up to see if there is any way of cutting back? I know when you're scared and tired it can help to have a pair of fresh eyes? I do know from other posts though that you are doing your best and you cant do more than that! Yuu know we're going to say REALLY think about taking out loans cos we're DFW's and you wouldnt want us any other way!! But just cos youre taking a loan doesent mean we reject you! A couple of ideas - would it also be worth phoning CCCS to get some advice and help before going down this route? If you're stuggling to pay now another payment is just adding to it and if your credit rating isnt good then the rate of interest will be higher anway...I'm sure youve thought of thse things but just in case you havent! Big, huge squidgy hugs for you! You will get there in the end, just let us help you sort the best way before doing something in panic that you may regret later...:)

Triker

Hi there, we did rent mine out but the tenant wrecked it, left owing money and we had to replace ceilings, kitchen, bathroom and completely redecorate, just to get it in some way presentable to sell. This has cost us hugely in terms of time and money, as we are skint we have had to do most of it ourselves.

Obviously we do not want to rent again and just need to sell.

I have applied for all exemptions so far but council tax are quibbling re 'occupancy'.

If we got a loan we could at least knock down a few of the credit cards which we can't switch to better rates as our credit reports are not starting to look good.

immoral_angeluk

Oh triker :grouphug: a loan is only going to make things worse hun.. you'll have another bill to pay and another commitment when you're already overcommited... I agree with the person who asking if renting one of the properties was an option...

Triker

fishface-69 wrote: »

no-ones taking your number of you! Would you consider putting your cuttent SOA up to see if there is any way of cutting back? I know when you're scared and tired it can help to have a pair of fresh eyes? I do know from other posts though that you are doing your best and you cant do more than that! Yuu know we're going to say REALLY think about taking out loans cos we're DFW's and you wouldnt want us any other way!! But just cos youre taking a loan doesent mean we reject you! A couple of ideas - would it also be worth phoning CCCS to get some advice and help before going down this route? If you're stuggling to pay now another payment is just adding to it and if your credit rating isnt good then the rate of interest will be higher anway...I'm sure youve thought of thse things but just in case you havent! Big, huge squidgy hugs for you! You will get there in the end, just let us help you sort the best way before doing something in panic that you may regret later...:)

Cheers hun, appreciate the support. I'll get my SOA back up but it'll be later on today, probably this evening now.

We have a run of negative luck this year I have to say and I honestly don't know what else to do.

My tyre had a blow out on Saturday, another expense.:o
Luckily we were all ok, but it's all getting too much now.

Triker

Ok better get on, will be back later. XX

ZTD

Given that you don't know how long it's going to take to sell, have you thought of moving to an interest-only mortgage?

tallyhoh

Is it worth looking at why your house isn't selling? You could do worse that following the House Doctors advice.

What feedback have you had from any viewings? what does the estate agent say, is it worth changing to another one? Could you get your friends round to cast a critical eye & be very honest.

Is the house overpriced? A reduction in price may help in that you would not be paying out so much interest in loans & CC's.

Spirit_2

Hello Triker,

Don't give up. I would miss you.

I do not intend to commit heresy and risk being excommunicated by DFW by talking you into a loan but this is my understanding so far. Here goes:

• even if your house sold tomorrow it would be 3-4 months for completion.
• Your outgoings are more than your income and your debts will increase until a property is sold.
• you could have a loan at a lower APR rate than your CC .
• I assume that if the loan cleared cc's you would cut them up

As well as your SOA, can you compare the cc and the loan on whatsthecost.com?