Hi - things are getting pretty hairy

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kevan.11

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Post by kevan.11 » Sat Jul 24, 2010 6:39 pm
Hi - I have listed all of our (my debts); things are getting pretty hairy and we cannot see light at the end of the tunnel. Our mortgage is 11 months away from being affordable (3 year fixed deal @6.95%)it could potentially free up a further 700 per month. What advice can you give us, what route is best to follow as the letters are coming in fast and furious from the Credit Card Companies and Personal Loans?
 
 

plasticdaft

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Post by plasticdaft » Sat Jul 24, 2010 6:49 pm
Do you mean that at the end of 11 months you drop onto an SVR and then things will be fine??

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

MelanieGiles

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Post by MelanieGiles » Sat Jul 24, 2010 6:52 pm
Would you be able to meet your contractual repayments to unsecured creditors when the mortgage reduces, and is this only a temporary quick fix given that interest rates are likely to rise again over the next year?
Regards, Melanie Giles, Insolvency Practitioner
 
 

plasticdaft

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Post by plasticdaft » Sat Jul 24, 2010 7:03 pm
MelanieGiles wrote:

Would you be able to meet your contractual repayments to unsecured creditors when the mortgage reduces, and is this only a temporary quick fix given that interest rates are likely to rise again over the next year?
Pretty much what I was getting at.[;)]
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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