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T O P I C R E V I E W
David.2
Posted - 22 July 2010 : 17:06:13 Please can someone offer me advice. I am recently unemployed, I receive the standard £65.45 per week jobseekers. I also bring in £45 from cleaning in evenings. I have credit card debts of £9500 and a joint mortgage with my partner of £185,000 approx. (this is split as £162,000 mortgage and a £22,000 unsecured loan). What would you advise would be my best options? I have already advised credit card companies I can only offer them a token payment each month, the mortgage company are aware of situation also and ony my wife is paying half the mortgage+loan for next 3 months when they will review it. Can you offer any advice? I feel Im drowning with no way out.
1 L A T E S T R E P L I E S (Newest First)
Richard P
Posted - 22 July 2010 : 17:20:51 Hi David 2
putting the credit cards on token payment will take the stress away whilst you are reviewing options, i went on a DMP for about 18 months but it is not a long term solution as i would have been paying the debt for the next 63 years.
you have put that the debts associated with the house 162 + 22 (182K) so when deciding the options with the house you will have to establish the value of the property, that will direct your actions
you say recently unemployed the lielyhodd of obtaining a job will also direct options available to you.
It is hard giving generic global advice when not knowing you or your full circumstances the best thing that happened to me when i was so far up the creek without a paddle and the torrent of water was getting faster was to be referred to paul and his team at Reviva, they were able to answer all of my questions and explain all of the options available to me.
