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How have you ended up in “crushing debt”? If you’ve not identified the root cause of how you got there, in six months time you’ll be scrambling around for the next quick fix.1
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I guess to prevent the house being sold or rented out to cover care fees.Brie said:We have already been to solicitors and fought for the right to keep the house in full and managed to do so.
I don't understand this - why did you need to fight for the right to stay in the house?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
I would be more worried that the local authority put a charge on the house to cover any outstanding care costs!1
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If you're in crushing debt I suggest you post on Debt Free Wannabe0
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Taking out a secured loan to pay existing debt really is utter madness, what happens the next time you find yourself in this situation, with no asset to fall back on?
There are well tested ways of paying off unaffordable debt that does not put the roof over your head at risk.
If you do this, the next time it happens you could lose your house, so think very, very carefully.
Ideally do as fatbelly suggests and post your SOA on DFW, we can help you find the right solution.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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