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 Will never pay off loan. What can I do ?		  New Topic  Reply to Topic
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Rosemary.rt
Starting Member



1 Posts
Posted - 15 July 2011 :  13:59:13  Show Profile  Visit Rosemary.rt's Homepage  Reply with Quote
i have s secured loan i was desperate when i took it out and did not fully understand the interest and what it menat the loan is still so big unless i sale my house i will never pay it of at the rate i am at the moment what can i do

Niobe
Administrator



United Kingdom
4590 Posts
Posted - 15 July 2011 :  14:47:16  Show Profile  Reply with Quote
Hi and welcome to the forum.

Can you afford to make the payments for this loan? Do you have any other debts?

The loan should have a fixed term repayment (as mine does) so at the end you will have repaid everything plus interest.

Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe



Jan
xxx
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Viki.W
forum expert



United Kingdom
2211 Posts
Posted - 15 July 2011 :  15:03:40  Show Profile  Reply with Quote
Hi Rosemary,

As Jan has asked, have you any unsecured debts?

I suggest you give an expert a call to chat through your whole situation.



Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
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