anxiety and debt

SAMT123

Hi all,first time on here. i brief outline of my circumstances. i live with my wife in a mortgaged house with approx 100k equity. we would never move as it is a family home passed down. we have 3 kids 7,5,2 and things are tough. we were debt free before kids and mortgage and managed to pay for wedding outright and mortgage deposit. then came kids! lol. i now have 3 credit cards and two loans. credit card 1- 4500 credit card 2 - 6800 credit card 3 - 1400. loan 1 -3400 loan 2 -8000 so approx 24k worth of debt. my job security is not great , i could be redundant in the next 12 months. i'm so so stressed about all the monthly payments and trying to keep an eye out for the credit limits increasing etc. annual household income is 48k . coop bank wont give me a loan against house for dept consolidation? feel like it would be better putting it all on a loan but most loans only go over 7 years. really dont want to put the house in jepordy. HELP.

sourcrates

Hi,


Homeowners have only 2 real choices when they can`t afford their debts, as most would like to keep there houses, either a debt management plan, or an IVA, one an informal solution, the other more formal.


Your SOA (statement of affairs) will probably tell us which would be right for you so that is your next step.