Please Help Im Scared Missed Payments On Secured Loan

mandye1

Hi i wonder if anyone can give me any advice on a secured loan it is with future mortgages and was for the sum of £30k we took it out dec 05 we are struggling now with repayments which are £335 per month and we have recieved a letter this morning from a company called Pannone who are debt collectors for future mortgages, they want us to send them a cheque for £671.19 before the 6th december or they will apply to the court for repossession of our home.. we cant afford to pay them the £671.19 by the 6th dec has anyone got any help or advice for us please. Amanda x

petermb_2

Hi Mandye1,

I need more details. does your loan include ppi? If so how much? did you use a broker to get the loan? That should be enough for starters.

regards

Peter

Debt_Free_Chick

Call them and agree a repayment plan. Only offer what you can afford to pay off these arrears, only. You must have a current, accurate, affordable budget to do this.

If you don't have a budget, do that first. This loan payment is one of the first things you pay off in your budget, each month - along with mortgage, council tax and other priority payments. Martin has a budget planner - under Free Tools on the right of this page.

Get over to the Debt-Free Wannabe board with your completed budget and we can help if you are spending more than your income.