Unregulated bridging loan

[Nsawyer1949]

In June of this year, I owned property worth £250K no mortgage. I got sucked into a bridging loan. The reps came to see me and arranged a loan of £60K and £82Kpayable after 3 months. It was an unregulated loan. The broker, that sent the reps. told me to say that I don't live where I am living (as this was a commercial loan) and to remove furniture around to make it appear as though the flat was empty. But I did live there. I used a friend's address in Birmingham and the reps did not even ask for proof of residency. The flat was going to be sold and pay off the bridging loan but the sale fell through - 3 times.The redemption figure on the bridging loan is now £102K as they add £6,800 per month. I have a sale agreed but this will take up until January 6-8th to complete. The next interest of £6,800 is due Dec 14th. They now have a possession order. Can anything be done to renegotiate the deal and settle the original loan of £60K with less interest? I am 70 yrs of age and retired. At the time of taking the bridging loan, I was not in the right state of mind and coerced by the broker to go for it. There was a possession hearing on Nov 19th but I agreed on a consent order via bridging loan's solicitors with intention of exchanging contracts with a potential buyer and completion by Dec 16th. Â*The solicitor said if I agree with this I do not need to attend the possession hearing. I tried to sell the property through a company that buys quickly with a discounted sale price of £190K. On the day of the exchange (before the possession hearing) they reduced the offer to £160K stating prices had come down. I have always been strong and resilient and nothing in the past has made me lose sleep but this has. I feel suicidal.Â*