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Father with 14k secured loan.
chrislee765
Posts: 380 Forumite
in Loans
Hi,
My father took out a 12k loan. He isnt financially clever and doesnt understand finances.
He got in arrears with the loan which is secured on his house, and its now up to £14k. Hes paying 13.5% interest.
When he got in arrears the case went to court. Hes got a reposetion order in place if he fails to pay again. He pays £350 a month, the most he can afford.
Whats the best thing he can do? I think he would like to get a non secured loan.. but he hasnt got the best of credit ratings?
Any help would be appreciated.
TIA
My father took out a 12k loan. He isnt financially clever and doesnt understand finances.
He got in arrears with the loan which is secured on his house, and its now up to £14k. Hes paying 13.5% interest.
When he got in arrears the case went to court. Hes got a reposetion order in place if he fails to pay again. He pays £350 a month, the most he can afford.
Whats the best thing he can do? I think he would like to get a non secured loan.. but he hasnt got the best of credit ratings?
Any help would be appreciated.
TIA
Find a job you love and you'll never work a day in your life.
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Comments
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oops wrong forum.. can mod plz move to debt free wannabe!
Thanks
Find a job you love and you'll never work a day in your life.0
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