Tony1966
12-04-2007, 21:44 PM
Hi,
I've been scouring the internet all night looking for somewhere where i can post my problem and seek advice, and this is the most suitable place i've found so far. Apologies if it isnt a suitable place, but please hear me out. I'll keep it as brief as possible......
Basically, i need to sell my house immediately before it gets repossed. I am a few months behind on my mortgage payments, and my secured loan payments. I've been off work since September 2006 with stress and depression caused by my ever mounting debts which have made my life a misery. I dont even know when i will be able to return to work.
I am aproximately £65,000 in debt (£40,000 mortgage, £20,000 secured loan, £5,000 Credit Card) and i want to wipe the slate clean. My house is worth roughly £100,000 so i could pay off all my debts and still have money left. I would then need to move into rented accomadation. But here is my problem....
How can i move into rented accomodation when i have absolutely no money to pay a bond or months rent in advance ? Both my bank accounts are also in the red and over their overdraft limited.
I phoned the housing association Shelter today for advice, and was told to phone my bank and ask for a bridging loan so i would have money to pay for removal fees and a down payment on a rented flat/bedsit. Problem - My bank isnt going to loan me a single penny more.
Shelter also told me to look into local community credit unions, with regards to borrowing money from there, but there are no such things in my area.
So basically i need to know how i can get some money from somewhere to pay a rental bond or months rent when my house is sold and i need to move into a flat or bedsit (I am phoning estate agents tomorrow to put it on the market).
Please, please, someone help me who's been in this situation before. Surely i am not the only person in this kind of situation ? I appreciate any help whatsoever, but please don't post "try this" and "try that" suggestions. I need concrete definate details of what i can do and who i need to contact with regards to a short term loan or whatever. I feel trapped in a Catch 22 situation at the moment, and i feel suicidal. Please help.
To recap....
I will be putting my house on the market tomorrow. Say for arguments sake somebody agrees to buy my house in one months time..... I need to find somewhere else to live but dont have any money to pay for removal fees and a bond on my new home. (Even though i will have roughly £30,000 in my pocket after the completion of contracts and paying off all my other debts). I need to find money from somewhere in order to move out before i get my money from my house sale.
Thank you very much in advance. Please help, i'm desperate.
I've been scouring the internet all night looking for somewhere where i can post my problem and seek advice, and this is the most suitable place i've found so far. Apologies if it isnt a suitable place, but please hear me out. I'll keep it as brief as possible......
Basically, i need to sell my house immediately before it gets repossed. I am a few months behind on my mortgage payments, and my secured loan payments. I've been off work since September 2006 with stress and depression caused by my ever mounting debts which have made my life a misery. I dont even know when i will be able to return to work.
I am aproximately £65,000 in debt (£40,000 mortgage, £20,000 secured loan, £5,000 Credit Card) and i want to wipe the slate clean. My house is worth roughly £100,000 so i could pay off all my debts and still have money left. I would then need to move into rented accomadation. But here is my problem....
How can i move into rented accomodation when i have absolutely no money to pay a bond or months rent in advance ? Both my bank accounts are also in the red and over their overdraft limited.
I phoned the housing association Shelter today for advice, and was told to phone my bank and ask for a bridging loan so i would have money to pay for removal fees and a down payment on a rented flat/bedsit. Problem - My bank isnt going to loan me a single penny more.
Shelter also told me to look into local community credit unions, with regards to borrowing money from there, but there are no such things in my area.
So basically i need to know how i can get some money from somewhere to pay a rental bond or months rent when my house is sold and i need to move into a flat or bedsit (I am phoning estate agents tomorrow to put it on the market).
Please, please, someone help me who's been in this situation before. Surely i am not the only person in this kind of situation ? I appreciate any help whatsoever, but please don't post "try this" and "try that" suggestions. I need concrete definate details of what i can do and who i need to contact with regards to a short term loan or whatever. I feel trapped in a Catch 22 situation at the moment, and i feel suicidal. Please help.
To recap....
I will be putting my house on the market tomorrow. Say for arguments sake somebody agrees to buy my house in one months time..... I need to find somewhere else to live but dont have any money to pay for removal fees and a bond on my new home. (Even though i will have roughly £30,000 in my pocket after the completion of contracts and paying off all my other debts). I need to find money from somewhere in order to move out before i get my money from my house sale.
Thank you very much in advance. Please help, i'm desperate.