Urgent help please

sammysnailly

I am looking for some advice.

I have a secured loan through Barclays, which was transferred to Elderbridge after a period of financial worries left my account in arrears.

I cannot take any more worry over this loan. So I wrote to them asking for help and to see if they could remove any of the financial penalties on the account.

They sent me a reply saying that they wouldn’t and stating the account balance and arrears.

I have had so much stress over my financial position over the last ten years that I decided I had no option than to sell my house to pay this debt off.

I have now sold my house, although I don’t move out for four weeks.

In the meantime though, I have received another letter from Elderbridge with completely different figures.

These figures mean that I have gone from thinking I had enough money to find somewhere else to live with my children to being left with nothing.

I have a really bad credit rating and cannot get a rental or mortgage without putting down a big deposit.

I actually don’t know what to do and am panicking. I need to ring Elderbridge today but don’t know where I stand.

I have nowhere to go once my buyers move in and have gone from thinking that I have finally ended years of worry to heading into another disaster. 

I can’t take much more of this and of letting my children down.

Can someone please reply to me today before I phone them please? I really need some help.

[Deleted User]

Ask them for a statement of your account in writing, with the current balance.  Then you can work out your options.

However, if you've sold your house, why are you still living in it?

MalMonroe

Hi, I'm so sorry to hear of your situation. 

However, I don't think all is lost. Please do think about phoning and speaking to someone at StepChange in the first instance.

Their info is here - https://www.stepchange.org/

They are a free debt help agency and they helped me so much when I was really at the end of my tether and felt I had nowhere to turn.

Their advisors are sensible and non-judgemental and will be able to discuss your options with you.

When I was in a financial mess, I found I just could not think straight and was unaware of any help that was available. My  Stepchange advisor was able to put my mind at ease and helped me to think straight and realise that all was not lost.

The fact that you have children will mean that you are not put out onto the streets anyway as your council has an obligation to find you somewhere to live, even if it isn't what you are used to at first.

Please do call Stepchange, it's a free phone call and they really can and do help. 

You could also consider contacting Citizens advice - https://www.citizensadvice.org.uk/

But Stepchange is my personal recommendation because I know they are good. I wish you all the very best 

Borders2017

I would not be completing on the sale until you can re-assess your financial situation.