Is Equity release a good solution to serious debt

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s_j

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Post by s_j » Thu Feb 07, 2008 2:37 pm
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Is Equity release a good solution to serious debt ? witch companies are the most trust worth ?
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Adam Davies

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Post by Adam Davies » Thu Feb 07, 2008 3:05 pm
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Hi
It can be but,like anything,will depend on your circumstances.
There is no problem with using equity to pay off unsecured debts as long as you don't then start running up debts again.
You need to use a good mortgage broker,several post regularly on this forum.
Regards
Andam Davies
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Andrew Graveson

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Post by Andrew Graveson » Thu Feb 07, 2008 11:32 pm
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Hello,

Completely agree with Andy. Seek professional advice if you are finding it difficult to weigh up your options.
Andrew Graveson
Bright Oak Ltd
UK Debt Management Company
Website: www.brightoak.co.uk
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mikebdomain

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Post by mikebdomain » Fri Feb 08, 2008 6:25 am
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You need to consider the long term affects and implications of releasing equity to pay off, presently unsecured, debt. E.g. the debt would affectively become secured on your property, you may end up paying more over a longer term.

In some cases it is a viable solution, but there is a lot to be considered.
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