Equity Release Or Remorgage Help!

blossomcat

HI ALL ,:embarasse Great site .m in trouble . have lots of debtfor various reasons. about 75 grand, plus a morgage £23,500. have been intouch with CCCS , but i do not have enough left to pay my creditors , have done the utilities swich ect as martin suggests, and have spent the last few weeks rtrying to sort things out . i am payi ng debts at a £1.00 at present , but that cant go on!! im 55 , so should i relase equity ?? what does everyone thingk .
please help :eek:

RAS

Blossom

Welcome

How are you going to re-pay the additional cost of the equity release?

Can you post up a full SOA on here and lets see what can be done?

Are you in the position to take a lodger for instance. TAx free money.

blossomcat

-hi, thanks for your reply. What is a SOA please? i am just looking into options at present , CCCS said i should sell my house , but im not sure that would be a good thing to do at this time.I cant become bankrupt as i am a nurse and i would not be able to continue practising so would have no income at all.i kept my head in the sand for so long, but it doesnt go away does it. i thought i had some time to sort things out as i was living on credit,bad i know , but i still had quite a bit , companies were throwing it at me . then they all stopped and reduced my credit limits. And that was that. I had reduced my hours at work due to a back injury , caused by my job! so i do have the option of going back to full time that would help. But then if im off sick with my back any more i could get the sack! its so good to be able to talk about this . I dont know what to do .
The lodger idea is very good , but i thought you had to pay tax ?
again thanks for your reply