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Hello

I wonder if anyone could offer me some advice as I don't know which way to turn.

I have mortage arrears which are at the top of my list of worries, my fixed rate ends this month so my monthly payment will increase up from next month added to the arrears.

I also had an unsecured loan which is now a charge on my property. I have various other unsecured debts, including a student loan.

I have recently had a pay rise which would go towards the arrears and increase in monthly payments but I worry that I'll be left with nothing to pay my other creditors.

I've just spoken to payplan who advised I sell my house, this is not an option as I wouldn't have anywhere to live and with my credit rating I guess I'd need a large deposit to rent. Renting wouldn't be much less than the mortgatge.

Also I'm training to be an accountant (I know!) so bankruptcy is impossible.

Please help, I'm desperate, miserable and the worry is making me ill.

Thanks
Nick

Hi Nick and welcome to the forum.

I am not as technical expert so will ot attempt to answer. Hopefully someone will be along soon to answer and advise.

It must be stressfull for you but try not to worry the main thing is that you are addressing the problem be proud of that and I am sure there will be a solution for you.

Ang

hi nick, welcome to the forum. i'm sure melanie or somebody will be along soon to offer advise. hang on in there.. if you could put a list of your debts etc it may help to give more advise

Hi Nick

It would help if you could list your creditors, along with the amount of equity you feel that you have in your property and the amount you could comfortably afford to repay to creditors on a monthly basis. Guidance on the forum is very generalised, so you should also seek professional help from an insolvency practitioner who will not charge you anything for an initial consultation, and ought to be able to set you on the road to managing your debts.

Thanks very much, would I list my creditors here?
Nick

Hi Nick

Feel free to post a few more details here as Melanie says ... you are amongst friends here and we are all here to support you in whatever way we can. [:)]

Debbie

There is no problem in posting information on the forum, but specific advice can only really be delivered property on a one to one basis.