Can't access funds

GeordieGeorge

exploringbeaches said:

Grumpelstiltskin said:

How much are talking about and how long does the fixed term have to run?

Fixed term lasts another 15 months. Talking about £25k debts. But savings are around £70k! Bank said they'd release the money if she declared bankruptcy... Bit late by then! 

I know it doesn’t make a difference to what’s best now, but how did they end up with so much saved yet no ability to service their debts?

Once they are through this it’d be a good idea for them to try to build up an emergency fund to avoid this type of problem in the future.