big problems

2makeit

I've got a letter from the bank as a formal demand for a loan and have got till 26th Jan to respond otherwise its legal action.
This loan was taken out to help buy my house but now am unemployed since December(been trying to get a job), and having problems paying this along with other bills.

credit cards x2 (£3400, £2000)
loans (£15000 as mentioned, £9000, £600, £900)


what would be the best way to try and sort them out with a suitable way of paying -minimum payment for a short period?

I have asked a financial advisor about combining the big loan into my mortgage, as my house is worth more than the mortgage but can't do this until a few more payments of the mortgage have been paid.

It all comes down to job security and defaults.

If anybody can help that would be great. This is a problem i need to get sorted asap as i know it wont go away and will get worse if nothing is done.

thanks

always_amazed

hey;
have you done a full State Of Affairs (SOA)? There are instructions on the sticky on the top of this board or at this link here or here

Even if you did one at the beginning; your situation may have changed; you said you are now unemployed, and once you post this up; more people will be able to look at your situations and show you where to cut back and what to throw at the debts.

Look forward to seeing that SOA!

xx

floss2

Have you actually told your bank that you are between jobs?

AMILLIONDOLLARS

Did you take out any payment protection for any of the loans/ccards, if so you should put in a claim, sometimes this policy is added without you knowing, check your paperwork

AMD