E
enough!
Guest
Problem A:
My mortgage is based on an over-valued house purchased at the height of the property bubble, in a “less-than-desirable” location in West Dublin. The house is now worth approximately half of the remaining mortgage loan (approx. 29 years left).
Problem B:
A number of unsecured loans were taken out by myself during the same period of time for the purposes of home improvement. I have missed a couple of payments on one of my loans and believe that this is now outlined on my ICB credit rating.
Problem C:
The career opportunities for me in Ireland were extremely limited and I could not earn enough to pay my debts and care for my family. Therefore, I now commute to the UK for work, and I am paying interest only on the mortgage as well as an agreed reduced loan repayment on the unsecured debt (though these are only short-term agreements).
Question:
I do not want to take the route of bankruptcy in the UK, though I know that this may be an option at this point given my employment & debt situations. Is it possible to re-structure/extend my mortgage beyond 35years, and write-down the unsecured debt? Are there any reputable consultancy services that people could recommend?
I do not blame anyone else for my problems, but we would just like to draw a line under this situation and move on with our lives…
My mortgage is based on an over-valued house purchased at the height of the property bubble, in a “less-than-desirable” location in West Dublin. The house is now worth approximately half of the remaining mortgage loan (approx. 29 years left).
Problem B:
A number of unsecured loans were taken out by myself during the same period of time for the purposes of home improvement. I have missed a couple of payments on one of my loans and believe that this is now outlined on my ICB credit rating.
Problem C:
The career opportunities for me in Ireland were extremely limited and I could not earn enough to pay my debts and care for my family. Therefore, I now commute to the UK for work, and I am paying interest only on the mortgage as well as an agreed reduced loan repayment on the unsecured debt (though these are only short-term agreements).
Question:
I do not want to take the route of bankruptcy in the UK, though I know that this may be an option at this point given my employment & debt situations. Is it possible to re-structure/extend my mortgage beyond 35years, and write-down the unsecured debt? Are there any reputable consultancy services that people could recommend?
I do not blame anyone else for my problems, but we would just like to draw a line under this situation and move on with our lives…