I need help and quick 7 November 2019 at 2:53PM edited 7 November 2019 at 2:57PM in Debt-free Wannabe Challenges 2 replies 1.3K views

Niteinshining

I have an interest only mortgage that i have not been able to pay for the last few months as I'm broke i have not paid council tax for a year due to debt problems plus must owe HMRC £15k as I've not submitted a tax return for a few years. A loan from about five years ago with Nat West has been passed on to a company called Zinc solutions. My credit score is fair which is about 770 even my bank first direct cannot lend me money. I am a photographer who went into business with someone for a year 2018/2019 that proved fatal. My Mortgage lender Nram expect my arrears to be paid by mid November otherwise i will receive adverse credit on my file. I work for a photo agency based in Miami and have $3000 owed but it cannot be paid until January. I even tried equity release but my mortgage is too high even though i have over £300k in equity. I am at my wits end as i cannot find a way out? Is my only option selling the property?

zx81

Your real credit score will be somewhere around zero with that kind of history.

You need to do an SOA to establish what you owe, to who and what your income is. also the stage each debt is at - especially the council tax.

Then people can give more detailed advice.

Willing2Learn

And here is the Statement of Affairs (SOA) link below. Please complete the online SOA form, click on the 'format for MSE' button and then copy & paste the whole lot on to this thread.

https://www.lemonfool.co.uk/financecalculators/soa.php