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Financial Difficulty

Money problems and financial difficulty?

Do you find yourself always running out of money and struggling to make ends meet? Is there more month at the end of the money?

Due to the current credit crunch that we are going through many companies such as food and energy firms have increased their prices, which has forced many people to borrow additionally through credit cards, secured loans, unsecured loans and Payday loans.

Sometimes all of this additional borrowing will cause your debts to escalate and before you know it, you can be in arrears with your lender(s).

This can lead to a tampered credit file which will not allow you to borrow more money.

Lenders can damage your credit score if you fall into arrears and can even go through the courts to get CCJs against you.

Once they have obtained the CCJ various cunning lenders will apply for charging orders against your house and force a possession, unfortunately just because a lender has a "un-secured debt" doesn't mean they cannot repossess your property.

Lenders/creditors can also instruct bailiffs to reclaim the debt by seizing your goods, causing you and your family great distress.

The good news  is there are various ways you can clear your debts. One option is to sell your house quickly and release the equity to clear off your debts.

Financial Difficulty FAQ

I have a lot of debt with various creditors but the lenders have not threatened me, how come?

Consider this the eye of the storm, lenders are large corporations and sometimes you will "temporarily" slip their radar. Be very careful if you are in debt with various lenders because if one starts to put pressure on you, it can have a financial and emotional effect causing you to crash and have a domino effect in other areas of your life.

My debts are un-secured therefore I should be fine?

NO, lenders can make an unsecured debt secured and force a possession order, making you repossessed. They do this through charging orders.

What if I have too much debt, can you not help me anymore?

We might be able to find solutions for you through various professionals we work with who might be able to restructure your debt. All you have to do is give us a call on 020 7610 5566 or fill out an enquiry form to see if we can work out a sustainable solution.

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