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wanting to get debt under control

Last post Mon, Oct 26 2009, 9:43 PM by maxsteam. 1 replies.
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  •  Mon, Oct 26 2009, 9:43 PM

    Re: wanting to get debt under control

    Borrowing from one lender to pay off another is unlikely to help you in the long term unless you expect your situation to change drastically for the better in the near future.

    One option to consider is to put the property on the market and try to get at the £45k. You might then pay off your debts and still have £25k in the bank to start somewhere else, debt-free.

    Your local Citizens Advice Bureau will provide free advice on debts.

    • Post Points: 5
  •  Mon, Oct 26 2009, 8:47 PM

    wanting to get debt under control

    Hi

    I am in need of some advice my hubby is self employed and i am a sahm to 3 children

    through the tough time we have had to endure with the recession our debt has mounted up and we now owe £17000 with loans and credit cards!

    our monthly outcome is a struggle to pay these days so have been thinking of ways to reduce these

    We went to see a mortgage advisor on Satday to see if we could get extra lending on our mortgage or even remortgage but we got a low credit score so they could not help even though we have £45000 equity in our house!!!

    Just dont know which way to turn now anyone got any advice????

    Many thanks

    • Post Points: 20