If i own lb12,000 debt to credit cards. a lb20,000 mortgage. And live surrounded by Scotland. Is going bankrubt an substitute?
i don't want to lose my house. but don't want to spend next 3-4 years clearing C.card debt.(i'd like to mute my mortgage instead.) thanks for any advice.
Answers:
you spent 12grand of someone elses money over whatever period that be but your not willing to pay it vertebrae over 3-4 years dont you think you need to look at yourself you self-centred person get a grip and grow up if you wage it back you will keep some compassionate of credit rating or you can go bankrupt and not take any knid of credit or credit for the next 10 years think obligingly
you have to laugh at these idiots gloating at you. God forbid someone should borrow money rotten some multi million company and then due to personal circumstances not be able to retribution it back.
I've been where on earth you are. I had lb17,000 of unsecured debt and a house. Lost my job and couldn't retribution - obviously I should have be sent to debtors prison to serve my time, but we do actually live in a civilised society currently.
Basically, your best bet is going into a voluntary arrangement - there's a Scottish version. I was surrounded by Scotland at the time.
You'll pay back everything you can afford. Just don't non-attendance on your mortgage!! That's the one they can take your house off you.
That's the intention these other ones are called 'unsecured'.
The worst thing they can do is issue court proceedings and after take out an 'attachment' against your house, which means if you ever put up for sale it then they get to appropriate their money out of what you sell it for.
type into goodle - consumer credit counselling service or national debtline.
they are the two govt recongnised ones who will help you lacking ripping you off.
don't go to a dodgy debt guidance company who take a cut every month. Source(s): personal experience - btw you're a total idiot
In scotland it is better going insolvent than bankrupt but do you know if you do either and you are working or return to work you income some of it back, it will stay on your files for 7 years and it also affects job applications. Think twice past going down this road. Your lucky its only 3 years to clear credit cards, I will be about 8 years, merely in time to get my allowance.
FIRST. Going ruined should be seen as last resort, not an substitute. It has long term affects, even after you are discharged.
SECOND.Don't even mull over about reducing your mortgage until you have salaried off your credit cards. The interest you accrue on the cards will far exceed any benefit if reducing your mortgage.
Better by far would be to remortgage or convert the card debt to loan & pay final your whole debt at a much lower interest rate.
If you only income the minimum on your cards the debt will only reduce by for a moment, if any each month & in 3-4 yrs you could still be surrounded by pretty much the same position!
If you remortgage that is the cheapest path to borrow, you can pay off lump sums within the future, or make highly developed monthly payments, which will shorten the overall term of the mortgage. If you take this route a short time ago check that the mortgage you choose doesn't charge penalties/fees for making these extra payments. Source(s): Used to work in banking & ex accountant
Don't run up debt with no bearing of paying for it..You cant have your cake and eat it, retribution your debts you scumbag. We all have to pay cheque for you if you declare bankrupt, hope you loose everything near an attitude like yours..
You will just own to pay what you have spent, do you really ruminate you can just spend and then check out of it to someone else you waste of space, "I just want to lessen my mortgage" oh poor you, grow up you sad case..
Going Bankrupt automatically means handing over your assests to the Official heir, this includes your house and car.
If there isn't much equity within home you may be able to keep it though it will remain the Official receiver property for 3-5 years.
You can keep your car if it isn't worth much or if it is essential to your livelihood.
Get a consolodation loan from your hill or remortgage to clear your cards.
Then it's will power, no spending too much, curb it, tighten your wallet straps and try put a little away.
you have no hulking debt I can see.
It is so easy for people to criticise you isnt it. They hold no knowledge of why you owe at the level you do, they might be earn twice what you do.
Dont go bankrupt if you can possibly avoid it. the repercussions ultimate for years. Talk to your local Citizens Advice Bureau, they meet these problems daily. They might suggest a consolidation loan at a lower interest rate than your credit card charges, or a re-mortgage. When you procure into debt the banks are the least of use people around but citizens Advice are good at arranging wage plans etc.
Nah, don't step for the bankrupt route. I'd suggest you max the c/cards,buy a canoe and then disappear for roughly speaking 5/6yrs. I hear Panama is good this time of the year.
Seriously, go and enjoy a chat with the CAB, they're best placed to tell you your best opportunity.
As for the others with their judgemental and patronising answers.It must get tremendously lonely living in their ivory towers.
Your debt dont seem that much, but if its too much for you next its too much for you.
if you go bankrupt you will lose your house.
and realistically no referee is going to sign the bankruptcy order beside only 12K worth of unsecured debt. How much is your house worth, might a re-mortgage not help?
Related Questions:
Does it affect your credit rating if you achieve a mortgage quote from a few different lenders?
Does it affect it negatively? Not really, I mean it does show but I of late purchased a new home 3 months ago and as long as they are bunched together they will see it was...
Answers:
you spent 12grand of someone elses money over whatever period that be but your not willing to pay it vertebrae over 3-4 years dont you think you need to look at yourself you self-centred person get a grip and grow up if you wage it back you will keep some compassionate of credit rating or you can go bankrupt and not take any knid of credit or credit for the next 10 years think obligingly
you have to laugh at these idiots gloating at you. God forbid someone should borrow money rotten some multi million company and then due to personal circumstances not be able to retribution it back.
I've been where on earth you are. I had lb17,000 of unsecured debt and a house. Lost my job and couldn't retribution - obviously I should have be sent to debtors prison to serve my time, but we do actually live in a civilised society currently.
Basically, your best bet is going into a voluntary arrangement - there's a Scottish version. I was surrounded by Scotland at the time.
You'll pay back everything you can afford. Just don't non-attendance on your mortgage!! That's the one they can take your house off you.
That's the intention these other ones are called 'unsecured'.
The worst thing they can do is issue court proceedings and after take out an 'attachment' against your house, which means if you ever put up for sale it then they get to appropriate their money out of what you sell it for.
type into goodle - consumer credit counselling service or national debtline.
they are the two govt recongnised ones who will help you lacking ripping you off.
don't go to a dodgy debt guidance company who take a cut every month. Source(s): personal experience - btw you're a total idiot
In scotland it is better going insolvent than bankrupt but do you know if you do either and you are working or return to work you income some of it back, it will stay on your files for 7 years and it also affects job applications. Think twice past going down this road. Your lucky its only 3 years to clear credit cards, I will be about 8 years, merely in time to get my allowance.
FIRST. Going ruined should be seen as last resort, not an substitute. It has long term affects, even after you are discharged.
SECOND.Don't even mull over about reducing your mortgage until you have salaried off your credit cards. The interest you accrue on the cards will far exceed any benefit if reducing your mortgage.
Better by far would be to remortgage or convert the card debt to loan & pay final your whole debt at a much lower interest rate.
If you only income the minimum on your cards the debt will only reduce by for a moment, if any each month & in 3-4 yrs you could still be surrounded by pretty much the same position!
If you remortgage that is the cheapest path to borrow, you can pay off lump sums within the future, or make highly developed monthly payments, which will shorten the overall term of the mortgage. If you take this route a short time ago check that the mortgage you choose doesn't charge penalties/fees for making these extra payments. Source(s): Used to work in banking & ex accountant
Don't run up debt with no bearing of paying for it..You cant have your cake and eat it, retribution your debts you scumbag. We all have to pay cheque for you if you declare bankrupt, hope you loose everything near an attitude like yours..
You will just own to pay what you have spent, do you really ruminate you can just spend and then check out of it to someone else you waste of space, "I just want to lessen my mortgage" oh poor you, grow up you sad case..
Going Bankrupt automatically means handing over your assests to the Official heir, this includes your house and car.
If there isn't much equity within home you may be able to keep it though it will remain the Official receiver property for 3-5 years.
You can keep your car if it isn't worth much or if it is essential to your livelihood.
Get a consolodation loan from your hill or remortgage to clear your cards.
Then it's will power, no spending too much, curb it, tighten your wallet straps and try put a little away.
you have no hulking debt I can see.
It is so easy for people to criticise you isnt it. They hold no knowledge of why you owe at the level you do, they might be earn twice what you do.
Dont go bankrupt if you can possibly avoid it. the repercussions ultimate for years. Talk to your local Citizens Advice Bureau, they meet these problems daily. They might suggest a consolidation loan at a lower interest rate than your credit card charges, or a re-mortgage. When you procure into debt the banks are the least of use people around but citizens Advice are good at arranging wage plans etc.
Nah, don't step for the bankrupt route. I'd suggest you max the c/cards,buy a canoe and then disappear for roughly speaking 5/6yrs. I hear Panama is good this time of the year.
Seriously, go and enjoy a chat with the CAB, they're best placed to tell you your best opportunity.
As for the others with their judgemental and patronising answers.It must get tremendously lonely living in their ivory towers.
Your debt dont seem that much, but if its too much for you next its too much for you.
if you go bankrupt you will lose your house.
and realistically no referee is going to sign the bankruptcy order beside only 12K worth of unsecured debt. How much is your house worth, might a re-mortgage not help?
Related Questions:
Does it affect your credit rating if you achieve a mortgage quote from a few different lenders?
Does it affect it negatively? Not really, I mean it does show but I of late purchased a new home 3 months ago and as long as they are bunched together they will see it was...