I am glad it is light you see at the end of the tunnel now and not the oncoming train!

hey thanks yet again for ur help,the last couple of days have been an emotional rollercoaster.we have decided after all the advice given to us on this site ,that we are not taking out a loan.i myself have got another job today only cleaning but im not in the situation to be picky or choosy.my partner has rang GE money again to see if there is an alternative solution to our problem.as it is only arrears we are in they have decided to take 1000 pound by 27th dec and then 1000 pound on 30th jan then they will review the situation as ther will still be a small amount of arrears to be paid.PHEWWWW !!!!!!!! the last few days have been a nightmare and the not knowing what to do or which way to turn has been the hardest thing until i registered onto this site.its nice to know people out there do care and i am truley grateful for all the advice thats been given to me threw this difficult time. i can go to bed tonight and sleep in harmony for once,instead of having sleepless nights due to all the stress and worry, IAN i am extremley gratefull to u , you have been a star!!!! once again thank you to everyone who has helped me,i have learnt a lot from all advice thats been given.i shall keep logging onto this site and i hope anyone out there whos got a problem does share it,coz a problem shared is a problem halved.you guys have been brilliant towards me and i shall never forget it, take care everyone speak soon love sparkle x

Hi SPARKEL......I would suggest changing your payment dates to earlier in the month, this allows a longer period in which to make up any payments if you are short before it is registered as missed. If you have no missed payments as you suggest so long as your arrears are paid up when you are ready to re-mortgage your chances are improved. However the high loan to value may be the biggest hindrance??? You need GE to create a sub account for the arrears so that any intended mortgage payment does not go towards the arrears instead of your normal payment. Keep up the good work and I hope this doesn't spoil your festivities too much :)

hey you guys ,wow thanks a lot for your help ,support,and advice.i have just read the last three replys and i hope its ok to reply to you all in one short message........ affinaty,thanks your right ,my knowledge is definately limited regarding morgages,i havent taken any criticism im just glad for recieving replys bk ,in my situation ,theres a feeling of lonliness and not knowing who to turn to for advice, so i am totally overwelmed at the responses im recieving,and its nice to know that people out there do care i dont feel like im on my own with all you guys so i appreciate every one of your replies and advice..........logicalp..my partner is ringing cccs tonitewhen he finishes work.i have spoken already to someone at cccs ,but obviously theres certain questions only he can answer,we werent looking for a huge loan just something for about 10k.to pay of other debts etc so we can get back on track again with our finances.we are going to take the advice from cccs before we do anything extreme,so thank you as well for your advice,its much appreciated .......ian [complete finance]thanks to you as well, you are a star!!!! my partner is paying 300 on wednesday by direct debit.i have looked at the letter [from ge ]it is classed as arrears so we just need to pay the arrears ,300 pound is a start,and another payment will be made on christmas eve, we think we are still going to be about 400 short tho and then the 740 is due again by dec 30th so basically we need a miracle [1600 has to be paid by dec 27th thats our arrears] and our morgage is due again on 30th every month.i have got to go now ,i will keep you all posted ,thank you all once again!!!!x

Sparkle......with such high loan to value seeing an adviser at this stage will not help at all. If you have missed payments, that means not making a payment within that month it wil be classified as missed. If you have made any sort of payment within that period it will be classed as arrears and not registered as a missed payment. This advice is relevant to all members who are experiencing tough times. If you can make any payment at all, call the lender and make a voluntary payment, preferably by debit card. This will make sure that a missed payment is not registered. In this climate lenders will not look at anything with missed payments within the last 3 months, so pointless looking. I would check to see whether your payments are classified as missed or just arrears before going any further. Consolidation is just a sticking plaster and unless you are absolutely confident that borrowing extra will help......DO NOT DO IT!!!! Take in a lodger, take in laundry, work in a pub, sell unwanted stuff on ebay......anything that helps for the interim, you can't expect lenders to be sympathetic or loan companies willing to lend you further funds. Your advice centre will help by explaining how things work and your options, they deal with this all the time but it is tough out there I'm sorry. Finally your partner mus approach his lender otherwise there will deem to be no effort on his part to resolve the situation and this will be frowned upon if repossession follows.

Having worked oin the finance industry for a number of years, and been impacted by the current credit climate, lenders criteria now is very strict in terms of missed payments on "unsecured", therefore if there are "secured" missed payments and no equity in your property, the likelyhood of obtaining a debt consol loan is very unlikely.

Lenders will veiw a number of things in different ways, however, to a lender debt consol is a "high risk" loan. With missed payments which will be showing, then that pushes the risk even further. Rate is for risk, too much risk and it will decline. Another factor is affordability. Granted you are looking to debt consol, lenders will look at how much you are wanting to borrow, then check affordabilty against an amount that is double. Ie.... You want to consol 10k... Lenders will look to see if you can afford 20k. The reason is people recieve the money in their account then spend it. I'm not saying you would, but a lot have people have done it.

In terms of payments, when a lender looks at you, apart from credit score, the last thing that a person would put at risk is their home in missing payments, therefore to a lender, if you a missing payments on a secured loan that keeps a roof over your head, shows serious financial stress.

You need to speak to the CCCS, they will point you in the right direction, but a consol loan does not sound like an option.

SPARKEL.......The BEST thing you can do is phone a friend/relative/colleague tonight and ask them to recommend an independent mortgage advisor they have dealt with. This is no criticism....... but I can tell your knowledge on mortgages/finance is limited.....I drive a car but I know nothing about it, when I have a problem I go to a mechanic as that is their area of expertise.........the same goes for advisors. Make an appointment for them to come and see you both asap.....I know someone on here has suggested foning the credit helplines but they are not advisors & at this early stage there just might be something that can be done.................Some of us on here are advisors but we cant give advice on here as this is a general discussion forum. You need to see someone face to face who you can explain the whole picture to....... they are the experts and will act in yr best interests....If yr worried come back on here and post the suggestions they're making and we will add or comments.......yr not alone, so don't worry, u have a lot of support here so go & pick up the fone now and start working towards the solution........don't stay in the problem

thank you for your reply.we have had our house valued ,[the house was 115,000 when my partner got it] and last year it was valued at 150,000 ,we got it valued again in september this year and it had dropped to 120,000.the estate agent then told us it may take months to sell ,and advised us to keep hold of it because if we sold now we would be liaible for a 7000 penately because we would be selling it before 3 years,then theres legal costs etc and we would also have to purchase a pack from the estate agent as well if we were going to sell.basically she told us that if we sold now we would end up out of pocket and owing a lot of money and she advised us to stick it threw until next year[ when our 3 years is up on this capped morgage ],and she said to go and see her in august nxt year and she would shop around for a different morgage company and find us a cheaper morgage .that was our plans ,we look at the situation now and get by on thinking things will get better.the morgage we have got now is a pre payment one.we were actually thinking of explaining our situation to cccs tomorrow when their phone lines are opened and maybe taking out a loan to pay of other existing debts and just having one cheap monthly repayment for debts ,and that way we will be able to pay our morgage as we will be saving money[debt consolidation].i will just have to wait until tomorrow,we really want to keep the house and are open to all options ,the situation at this present time is we have got less money coming in than we owe out,and we seem to be robbing peter to pay paul,i also know we are not the only ones in this situation .i have felt like walking away from it all and my partner feels like just handing the keys bk in ,but that would be the very last option when all else fails.GE money aint interested they want their money and dnt care about the situation they are quite heartless!!!!!!!!!!!

Hi SPARKEL....GE Money/First National are a predominately sub prime lender and it is these lenders that will not join the governments mortgage support scheme, this will mean that their usual repossession process will be implemented if there are arrears. You probably had a high loan to value and with the fall in prices they will act sooner rather than later. You MUST make an arrangement with GE to reduce your arrears, failure to make contact with them will go against you or your partner rather.

A month in hand should not have affected you to the extreme that it has done if you had any savings, so I will assume that this issue is not going to get better because something may happen again. If income is not going to increase and the probability of paying a higher rate due to the missed payments, later on next year, are only going to add to the problems. I know the CAB will offer advice but they are very hard to see with irregular opening times but the thing to consider is selling and reducing your costs and ensuring that the credit history of your partner does not get any worse. I know this sounds a bit harsh but unless the household income increases the unevitablity of GE acting will escalate, and they are ruthless.

It is the mortgage company yr partner needs to be speaking to as if yr not on the mortgage they wont speak to you because of data protection

You didn't mention if it was repayment or interest only mortgage

It is highly unlikely anyone will lend you money with missed payments on yr credit file.....maybe that's not such a bad thing as adding more debt to debt isn't always the answer

we are behind because my partner changed jobs and had to work a month in hand,so we werent just struggling with morgage ,it was all house hold bills ,council tax etc.gas bill has shot threw the roof,my water bill is high and gone up ,i dont know if its to do with having a water meter.when we bought this house the lady who searched for a morgage had actually found us a morgage ,and it fell thrw ,we had already given our 6000 pound deposit,and it wasnt long of completion,so the lady[ morgage advisor] told us not to worry she would shop around for another as she needed to be quick in doing so in time for completion,so GE money was the result.my partner dealt with it all as i was living in a rented house at the time.the morgage is in his name .i only moved in here 16 months ago with my children.i have just rang cunsumer credit counselling service for advice but its not opened today .

Are you on a repayment mortgage? If so, you could ask to change to interest only, depending on the mortgage amount & term this may reduce yr costs

If yr mortgage is 740pm and u haven't paid at all, what have u actually used that money for? I am not being harsh but these are the questions that will be asked........

When you 1st set up yr mortgage, did u use an advisor, would you feel confident speaking with him again to explain yr situation

Mortgage with GE Home Lending would suggest to me you previously had hiccups on yr credit file, is this the case?

thanks for your advice ,we did actually ring citizen advice but they told us to ring our morgage .we did ring them but basically we have got to pay ,i thought the government where trying to help people in our situation ,and stop homes being repossessd .

If you are 2 months in arrears on your mortgage no-one will touch you for debt consolidation and its probably not a good idea anyway if you are struggling to service your existing committments. You need to ring CAB or CCCS first thing Monday morning for advice (this is free and impartial). If you are on a capped rate you mortgage payments should have gone down with the base rate going down.

im in 2 mth morgage arrears ,and have got to pay 1,600 pound by 26th dec,Just recieved a default notice today [GE HOME LENDING]. we got our house nov 06 and we are on a capped morgage for 3 years its like this until nov 09.my partner and i have struggled in the past few months with morgage its 740 a month ,and then the charges on top etc it is beyond the joke.then council tax and all house hold bills etc have to be paid we are working just to keep a roof over our heads like half of the world,the credit crunch has hit us hard.we dont know what to do for the best.we need a miracle quickly ,i just feel like crying.my partner got accepted online for a loan,when the paper work arrived we had to pay a charge of 49.99 so we thought it was a con and didnt go threw with it.what would be the best thing to do and promto!!!! my partner thinks debt consolidation would be the best thing to do ,but whos the right people to ask.any replys are welcome.