Hi I posted on here before and got some very helpful advice regarding my predicament.
Went to the halifax on friday they wouldnt allow the transfer of equity because of my debts but more because I had some late payments on my credit card due standing order taking 10 days to arrive!! Have sorted this by setting up direct debits, but obviously it shows on my credit report. Halifax have said to come back in 6 months and try again. My ex doesnt want anything to do with the property as all the equity in it, is my money and I have paid the mortgage since day one.
Now my debts are as follows;
natwest overdraft £3400
santander hovercraft £3200
Barclay card credit card £3700
natwest credit card£1400
natwest credit card £900
I have tried to do credit card balance transfers to 0% but keep failing the credit check, I have also tried for consolidation loans and same result the banks dont want to help out with a lona as they make more money off me with the individual APRs, and obviously increase their risk if they take this on.
Now my ex will leave shortly and I will have to cut back on a lot of things to make my payments as we share some bills, etc, (please dont lecture me on being ruthless towards my ex or anything like that as you dont know my story, and we are both trying to do whats fair, and remain friends).
So because I have to make some cuts I will probably not be able to afford my debts at there current rates of payments. So I am abit of a catch 22 really.
I could try the IVA route but obviously it means I cannot get the TofE till after 5 years maybe 6 but then she would ask for a cut of my house, or refuse to sign it over after meeting someone else, etc.
Would a DMP affect my credit and chances of signing over the TofE in the same way as a IVA I know they will be marked on my credit file? I just want to get rid of my debts and never have credit again, I am selling everything I have in terms of possesions to clear my debts. I am in the process of selling my pride and joy to pay off the barclaycard and hopefully they will then let me apply for another and transfer all debts to a 0% to cut the interest and ease the payments till im on my feet.
Any ideas on this anyone?
Thanks
P
Went to the halifax on friday they wouldnt allow the transfer of equity because of my debts but more because I had some late payments on my credit card due standing order taking 10 days to arrive!! Have sorted this by setting up direct debits, but obviously it shows on my credit report. Halifax have said to come back in 6 months and try again. My ex doesnt want anything to do with the property as all the equity in it, is my money and I have paid the mortgage since day one.
Now my debts are as follows;
natwest overdraft £3400
santander hovercraft £3200
Barclay card credit card £3700
natwest credit card£1400
natwest credit card £900
I have tried to do credit card balance transfers to 0% but keep failing the credit check, I have also tried for consolidation loans and same result the banks dont want to help out with a lona as they make more money off me with the individual APRs, and obviously increase their risk if they take this on.
Now my ex will leave shortly and I will have to cut back on a lot of things to make my payments as we share some bills, etc, (please dont lecture me on being ruthless towards my ex or anything like that as you dont know my story, and we are both trying to do whats fair, and remain friends).
So because I have to make some cuts I will probably not be able to afford my debts at there current rates of payments. So I am abit of a catch 22 really.
I could try the IVA route but obviously it means I cannot get the TofE till after 5 years maybe 6 but then she would ask for a cut of my house, or refuse to sign it over after meeting someone else, etc.
Would a DMP affect my credit and chances of signing over the TofE in the same way as a IVA I know they will be marked on my credit file? I just want to get rid of my debts and never have credit again, I am selling everything I have in terms of possesions to clear my debts. I am in the process of selling my pride and joy to pay off the barclaycard and hopefully they will then let me apply for another and transfer all debts to a 0% to cut the interest and ease the payments till im on my feet.
Any ideas on this anyone?
Thanks
P