Debt problems and personal debt are on the increase in the UK. Many people are struggling to repay their debts. But The Debt Counsellors can help.
Find out about debt repayment solutions online and get property remortgage advice from The Debt Counsellors or call us on 0800 018 6081.
Debt Repayment Solution - Property Re-mortgage
George Franklin, London.
Mr Franklin urgently telephoned us, as he was summoned to attend Court the same day because one of his creditors was petitioning for his bankruptcy. He had total debts of £15,000 but could not afford the monthly repayments required. Mr Franklin jointly owned a property with his wife, which was valued at £275,000 with a mortgage of £175,000.
Mr Franklin was not technically bankrupt but was so completely confused by the situation and did not know what to say in Court. We carefully advised him what to say to the Judge so as to get the Hearing adjourned.
Having gained the breathing space of a few weeks, we were able to re-mortgage the property and pay-off the creditors in a very short space of time without the stigma of being made bankrupt. The re-mortgage was at such an advantageous interest rate that they are now paying less for the re-mortgage, which is £15,000 higher, than they were paying for the original home loan.
'I really don't know what I would have done without your help'. George Franklin.
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