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T O P I C R E V I E W
helpless
Posted - 09 May 2009 : 20:43:57 We are 2 months in arrears on our secured loan but are up to date on our mortgage.The loan company are asking us to pay £525 which we dont have.Any advise would be appreciated on what we can do.
1 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 09 May 2009 : 21:10:06 Hi the secured loan company have just as much right to pursue you for peosession, reposession and eventual eviction as the first mortgage company so please don't believe that by keeping up with the first mortgage you will be OK.
If you intend to repain in the house you will need to complete a very accurate income & expenditure and understand what you can actually afford on a regular monthly basis befor you agree to any overpayments to the mortgage company.
You should also review your other loan / debt position and try to work out a complete solution to the problem rather than just fixing one element of it.
