Can some one please help me with finance advice?

I have a mortgage of 拢137500 and a secure loan of 拢40,000 also I do have small loans and credit cards costing me about 拢700 a month. My job has gone and I do not have enough money. I have been paying mortgage and loans so far from money from my other credit cards. My current property value is not morethen 拢175,000. I dont want to be bankcrupt. I dont even have money to eat. Cant sell the house, What should I do? How can I save myself? Are there any charities which can buy my home and save me from bankcrupsy? Since I lost my job I have been doing some small jobs which can not meet the required finances. I couldnt get no success so far in any interview which belongs to my field. I have tried everything from distributing morning papers to handing out leaflets. It is being hard day by day.Can some one please help me with finance advice?
You must write to your mortgage company and loans companies and explain your situation - They should be sympathetic and maybe give you a holiday from making payments for a few months.



Check your small print - You may be insured against redundancy or otherwise be protected against being out of work.



And make sure you are claiming your entitlements in respect of jobseekers allowance.Can some one please help me with finance advice?
get a job?
why cant you sell your house? if a charity is prepared to buy it then someone else will....



As for helping yourself.. why not seek alternative empolyment short term in a slightly different field rather than looking for something in the field of work you do which is hard to find.



There are many temping agencies out there that will find you work but you need to go and register with them..



You dont get hand outs in this life without trying to help youself first.
You need to get some debt advice asap.

Go to Citizens Advice they will help you for free and go to the benefits agency and claim benefit whilst you are looking for work.
Talk to your mortgage lender first of all and explain the situation, most will be willing to help you if you keep the lines of communication open.



The secured loan is the worry, if that's through your mortgage lender, then it may be ok, if a separate lender, then they will come after your property, but again, still talk to them, its a costly exercise for them to do it so they will want to negotiate a way forward with you.



as for the unsecured lenders... leave them until last and pay what you can toward them.



You could try renting the house out and move in with family or friends until you are back on your feet, the rent should take care of the mortgage and loan and may even provide you a bit more of an income too.



Just don't bury your head in the sand... keeping communication open with your lenders will help you in the long run.
Speak to housing benefit first. they can help you with your costs towards your mortgage.

Sign on. If you were sacked or made redundant you can apply for jobseekers allowance.

If you are desperate do you have any items that you can sell to tie you over. If you have a roof over your head that is the main thing. If you have a car, furniture, electrical you can sell them or take them to a cash converter or pawn shop on a buy back basis. Remember the main thing you need is the house. .If worst comes to the worst rent out the house and live in a bedsit. what you charge them will cover the mortgage and they will pay your council tax
All that and you come on here for a solution?

I don't think so !!!
Get yourself down to your mortgage provider as soon as possible, explain the situation. You may be able to take a payment break.



The secured loan needs to be dealt with in the same way.



ANy other unsecured debts can be dealt with by letter, but you must not bury your head in the sand and hope this will go away.



Have a look at www.moneysupermarket.com to see lots of ways of saving money.



Do you have a spare room you could rent out?
Your Citizens Advice Bureau will be able to advise you on how to manage your debts. Please stop using credit cards to service your exising loans, and do not be tempted to take any more loans. I'm sure that you could sell your house - it can't be unsaleable if it is worth 拢175000, but that should be a last resort. Have you thought of taking in a lodger, and looking for work outside your field? Please do something to get help now, before you get into more debt.
Going bankrupt isnt as bad as it used to be. Many people have their homes repossed and actually rid themselves of debt.

first, see if there isnt another mortgage deal out there that can lower your monthly expenses. then sell all this stuff youve been buying on credit cards and cut them up. Can you get a lodger? give them your bedroom and sleep in the broom cupboard. Look in the yellow pages and get a debt advisor, Dont go for consolidation until you have done your sums or you will be worse off and still lose your home. And good luck!
check the small print on your mortgage you may be protected by insurance when out of work. Take advice from the CAB they will help with any letters you need to write to your creditors and may be able to negotiate payments you can afford ....................... good luck
1st option: You can either contact one of the companies that deal with debt, they will co tact your creditors and advise them of your situation they will arrange for your debts to be paid at an amount you can afford they may also help with sorting your mortgage out.

2nd option: You can write to the debtors yourself and explain the situation and make them an offer you can afford. Its very unlikely they will refuse as any repayment is better than none.

3rd Option: Citizens Advice Bureau they have trained debt counsellors who will help you to sort yourself out.

Your Mortgage did you take out employment protection, if so you have no worries.If you didn't take out mortgage protection, D.S.S. may help to pay your interest on your mortgage, this normally starts after 6 months of unemployment. Don't despair seek help but don't ignore it, it won't go away
decrease your ';needs';
when you took out yout mortgage and credit cards you should also have been given gap insurance.

This type of insurance pays your outstanding debts if you happen to loose your job
Dont opt for bankruptcy:



How to Avoid Bankruptcy Explained



http://www.debt-explained.com/category/H鈥?/a>
I sympathise with you. I'd suggest you contact the citizens advice bureau or the national debtline or the consumer counselling credit service. All these people are used to dealing with people in similar situations and their professional. Best of all, their services are free and tailored to your own specific situation!
The laws regarding these things are different on your side of the pond.

In general, meet with your creditors and explain what is going on and how you plan to meet the obligations. If you can get things restructured, that is a wonderful place to start. Nobody wants to kick you out of your house.
I have been through a similiar thing, I lost a good job almost before the ink had dried on the finalisation of the purchase of a house with a big mortgage, fortunately I hadn't moved into it yet , so put it on the rental market and moved back in with the parents until I could find my feet. I was devastated as I saw all my dreams going down the tubes along with my savings, I had to sell my car, to keep going as I battled to stay afloat, I was out of work for a year, and had to move away to secure a new position in rented accomodation. I also failed to sell my house as I got the feeling people saw me as a soft target in my situation and put in ridiculiously low offers in the hope of a bargain, and I just couldn't let in to that so stuck it out.Turned my life completely upside down. Im crawling back to some sort of normality slowly. So I understand the feelings and desperation.



These are times when family are important and if you can't afford to rent your house, try to get a lodger or two if you have the space

to help with the mortgage. Your confidence is probably also at a low but you just have to kick yourself and get your CV out there and pick up the phone and talk to agencies and the like, everyday you have to do this, any progress will improve your confidence in this tough time.
here are companies advertising in the national press which buy your house in 7 days and let you rent it back without moving - thought about these?
Check out Martin Lewis' website for some good decent advice on saving money

http://www.moneysavingexpert.com/