Please help - what are my options?

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Posted by Desperate82 : September 1st, 2008

Please help - what are my options?

Okay basically I owe £10,000 to a well known bank. I took out a personal loan in 2000 and my circumstances changed as they do and I now find myself with a firm of solicitors taking me to court to put an order on my house (which I own - mortgaged) I have always paid as much as I can but they are going ahead with this and I am at my wits end about what to do... the situation is making me poorly and I can't sleep! When I took out the loan I was an 18 year old girl living with my parents, I'm now a 26 year old single mum. I manage okay on my income, it's just this one thing that is causing me problems. I don't have a good credit rating but had started to get back on track, this is pulling me back down... I have enough equity in my property to pay this debt and had told the bank that if they allowed me to continue making payments I would remortgage in April 2009 (when my fixed rate runs out!) and repay the debt in full... They wouldn't agree to this. What can I do?

Good Evening. You are

Good Evening. You are allowed to pay your debt back at what you can afford. The creditors have to accept this also. If they don’t accept your payment then send them a postal order, as they have to accept this. It may be worthwhile to give us a call, as we will be able to go through your details with you and find a solution that will help you until you are able to remortgage in 2009. Our number is 0800 954 6518. Hope this helps and speak with you soon.

Posted by: DAT Advisor

yes but...

But they are already taking me to court, they are securing it against my house without my say-so! Can they do this....? I have always paid whatever I can some small payments and some larger payments... but now the amount owing is flying out of control as they add fees and court costs. The whole thing has come out of the blue. I don't have much time as it is happening in a matter of days...

Posted by: Desperate82

They can take the matter to

They can take the matter to court to secure it against your house, but this is something that has to be agreed at the court. You are able to attend the court hearing to put your side across; again they should accept any offer you give them. It will be worthwhile to get together a list of your income and expenditure to send to the company before the court date and also to take with you to the court. You can do this yourself or come to ourselves and we can do it for you.

Posted by: DAT Advisor

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