Please- need urgent help!

help_help_help

Hi, really need ugent help. I live with my mum and she has alot of debt. About £52,000 and thats not including her mortgage which is £32,000 and a secured loan of £9,200. Just before xmas we went to go to court because one of the creditors was trying to put a charging order on the house and the judge ruled it so they succeeded. Now that doesnt seem to be enough and they are trying to push for the sale of the house unless we come up with nearly £500 a month for 24 months which is impossible for us to pay per month. Apparently the reason for this was because we defaulted on paying the first installment of £60 per month which we were told not to pay from the iVA company that we are with because it was "unfair" to the other creditors and now we are landed with this mess! I have sought legal advice and the advice was to re-motgage but no banks will because of the charging order and i cant get a loan because i live in the house that the charging order is on! The banks advice is to go to a broker- have tryed that but it is an abslute rip off! Can anyone please please please recommend a broker or anything else that we can do!

Many Thanks

Lisa

_Andy_

help_help_help wrote: »

Hi, really need ugent help. I live with my mum and she has alot of debt. About £52,000 and thats not including her mortgage which is £32,000 and a secured loan of £9,200. Just before xmas we went to go to court because one of the creditors was trying to put a charging order on the house and the judge ruled it so they succeeded. Now that doesnt seem to be enough and they are trying to push for the sale of the house unless we come up with nearly £500 a month for 24 months which is impossible for us to pay per month. Apparently the reason for this was because we defaulted on paying the first installment of £60 per month which we were told not to pay from the iVA company that we are with because it was "unfair" to the other creditors and now we are landed with this mess! I have sought legal advice and the advice was to re-motgage but no banks will because of the charging order and i cant get a loan because i live in the house that the charging order is on! The banks advice is to go to a broker- have tryed that but it is an abslute rip off! Can anyone please please please recommend a broker or anything else that we can do!

Many Thanks

Lisa

Hi Lisa

When you say a 'rip off' do you mean the charges the broker was wanting, e.g broker fees, or the products they had sourced?
The reason I ask is that with your current situation you simply aren't going to be getting rates comparable to the high street.
Have you approached any whole of market brokers that don't charge broker fees?

Thanks

jobbingmusician

Don't go to a commercial broker.

Contact CCCs or PayPal - details at the top of this forum. EDIT _ Sorry, not this forum, the debt free wannabee one. Or

Go to the CAB or

If in London, your BEST advice is to contact Capitalise. http://www.capitalise.org.uk/ - lots of useful advice on the website wherever you are.

Good luck - these people CAN help in situations which look impossible!

Merlot

help help help,

You need urgent advice, phone the CCCS this morning http://www.cccs.co.uk/ , they are a debt charity and will advise you.

Please do call them, they will not charge you.

Merlot

Debt_Free_Chick

help_help_help wrote: »

Apparently the reason for this was because we defaulted on paying the first installment of £60 per month which we were told not to pay from the iVA company that we are with because it was "unfair" to the other creditors and now we are landed with this mess!

So you have an IVA?

Was this debt included in the IVA?

help_help_help

Hi thanks for replying. We are asking to borrow £60,000 and the payback is £160,000 which seems so much! And if we change from them to another morgage provider they want nearly £4000. And the fees for finding the mortgage provider is nearly £2000.

help_help_help

Hi thanks for replying x x x

help_help_help

Yes we have an Iva with Payplan and the debt was included with that. Thanks x

help_help_help

Thanks for the link x x

jobbingmusician

You will get lots of practical tips from the folk on the Debt Free Wannabee board, too! Do have a look - it's very inspiring and reassuring.