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| The independent answer to your debt problems | login join |
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thegardener
| 30-05-2007 02:46 PM |
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Joined: 30 May 2007 Posts: 2 | Hi all I've just lost my job and i am on gardening leave :). The thing is that losing my job could not have come at a worst time. I have just recently signed up a debt management plan which is paying off my £35,000 debt. Although, i have 6 weeks salary in my pocket unless I get a job it will disappear quickly. I do have equity in my house and was wondering what the best way was to get at it. I've seen these adverts on TV and in the papers which really confuses me as to what the best solution is. Can someone help? |
| MALLORCASPAIN | 30-05-2007 11:16 PM |
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Joined: 28 May 2007 Posts: 10 My Profile | thegardener - Well to be honest right now the companies that run the adverts are not aiming at you, i am sorry to hear that you hav elost your job it sounds like you would have a bad credit rating as you have £35k with a debt management firm. Right now you will have no chance of getting a remortgage, unless you want to remortage with I group or kensignton, i would not go for either of them. The real option to you would be sell your house get a new job pay your debts of and start again but reality check that is not possible, a secured loan could be the answer there are one or two companies that with the help of the right broker could clear your debts, you must understand that this will not come cheap as you do not have an income. Give a broker a call. A couple of things to remember always pay the mortgage if you are stuck for cash call you lenders pay unsecured debts last Mortgage first and then 2nd charge, if you always pay your mortgage and you get into debts with the 2nd charge no judge in the land will take your house. Sorry if iam rambling, i cant sleep and i have to fly to Germany in 5 hours and i cant sleep. Good luck. |
| James H | 02-06-2007 12:58 PM |
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Joined: 27 May 2007 Posts: 32 My Profile | The Gardener could do a LOT worse than listening to the advice from Spain. I think we would all miss the posts if they were to disappear from the forum and get lost in Germany. |
| mallorca | 04-06-2007 09:10 AM |
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Joined: 28 May 2007 Posts: 17 My Profile | I am back Germany was fun but Spain is hotter. |
| James H | 12-06-2007 10:36 PM |
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Joined: 27 May 2007 Posts: 32 My Profile | Mallorca Welcome home and keep posting, you are a loss from your industry and people using forums such as this DESERVE your advice!!!!! |
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thegardener
| 13-06-2007 11:51 AM |
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Joined: 30 May 2007 Posts: 2 | Thanks for all your advice. I have spoken to a broker who thinks he can get me a loan at a reasonable rate. He says that because I haven't been long in a debt management plan, there is a good chance that defaults will not have been registered on my credit file and if i act quickly I can take advantage of this and get a good rate. Is he right or is this just a sales tactic? I would appreciate a quick response. Back to the weeding |
| James H | 13-06-2007 08:39 PM |
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Joined: 27 May 2007 Posts: 32 My Profile | I would suggest that your broker is probably correct. Your broker will probably be on a "kickback" so push your luck and ask for a %. I genuinely received a 50% share, £1,600, the last time I re-financed. Good Luck. |
| fred333 | 06-03-2008 05:38 PM |
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Joined: 05 Mar 2008 Posts: 10 My Profile | Thanks for the suggestion. I was thinking about doing the % thing. |
