Advice/Opinions?

ssparry

ok, my Mum has £10k debts. She has been with Sterling green for 1yr (who have been pretty awful) and is in the process of going with CCCS dmp.

We were chatting last night and she said its such a shame she just can't re-mrtgage and pay the debts off.

She is certain the Abbey won't do this because of her current finance situation, I'm not sure and wonder if someone could confirm if the would or wouldn't?

She has £34k mortgage, she could afford the repayments if she remortgaged, has a secure job.

Any advice/comments welcome.

Thank you

monkey22_2

Hi ssparry,

I don't think anyone would recommend that you turn an unsecured debt into one secured on your house.
Ask CCCS for advice, I'm sure they'll say the same.Don't put your Mum's house at risk.

HTH
monkey22

splishsplash

Without knowing more about your mum's lifestyle, it's very difficult to advise her to consolidate.
If the debt is the result of a once-off unexpected expense, and if her credit history is otherwise spotless, then maybe.
If there's nothing much to show for the debt, then it could be that she's spending more than she earns, and if she consolidates, will continue to do just that - thereby starting a debt cycle she may never get out of.
Until she does her SOA and there's a clear picture of why the debt is there, I'd be very slow to advise anyone to consolidate.
Best of luck, and good for you, trying to help her:T

ssparry

Thank you for the replies, debt started when she got a couple of credit cards when she left my Dad a few years ago, she carried on buying on credit and ended up with these huge debts.

she has now realised she can live without credit, and she will never allow herself to purchase anything on credit again. I'm so proud of her with how she has been living for the last year (whilst on DMP) didn't think she had it in her to budget. She had a very good lifestyle with my Dad and never had to worry about money and I guess she didn't want that to end.

It was only an idea to remortgage, she is happy to continue with DMP with CCCS.

mummytofour

Hi you!
It never hurts to ask but I would just enjoy the 34k mortgage!

stapeley

I would suggest looking at the POST about CCA requests.