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Help
Bp123
Posts: 4 Newbie
Help please folks,
I've been staving off for years but I can't see any way out of this,
I took out a loan for my parents years ago as they were struggling, however they are now unable to pay me back,
I'm currently sitting at about £27k in debt with a mortgage of around £74k with maybe £10k in equity, this loan is costing me around £500 a month and I'm really really struggling with it, any advice would be greatly appreciated
I've been staving off for years but I can't see any way out of this,
I took out a loan for my parents years ago as they were struggling, however they are now unable to pay me back,
I'm currently sitting at about £27k in debt with a mortgage of around £74k with maybe £10k in equity, this loan is costing me around £500 a month and I'm really really struggling with it, any advice would be greatly appreciated
0
Comments
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Hi
How much longer is the loan payable for? Are your parents able to make any payments, even if not the full amount?
Complete an soa and see if anyone can help you work out ways to save.0 -
Hi,
Thanks for your message,
Because I've had to consolidate time and again I've still 6 years to go, unfortunately my parents have made so many mistakes with money they can't afford anything, total nightmare ��0 -
Are there any other family members who could help them?June 2026, Mortgage free, Emergency fund fully funded & £200/200 cash maximum pb holding .:jWeight 12st challenge 11st 2lb
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https://forums.moneysavingexpert.com/discussion/6673398/hopefully-cruising-with-focus-towards-retirement#latest0 -
Maybe your parents need to join this site and do a SOA as well, so we can make suggestions to help them as well as you.
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Hi, yes there is but they've given up on them as they've lent them money also0
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Hi,
They already have citizens advice helping them,
I've done all I can but I can't do anymore and now I can see the ground opening up on me, I've 2 kids who are my main priority and I don't want history repeating itself, especially when all I've done is what anyone would do for their parents, however I didnt count on my parents letting me down so badly
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