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Secured loan advice please

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  • Secured loan advice please

    hello all

    Just another piece of advice please. I have a client who has a secured loan on her property as well as a mortgage. She is in arrears with the mortgage and the loan.
    She has been to court over the secured loan and is now set to pay £50 a month...this she is struggling to pay.

    She is a lone parent, just had her DLA stopped, which we are appealing. She is on ESA and gets minimal maintenance.

    DWP are paying interest on her mortgage but she is falling behind, and is in arrears. We are trying to deal with the building society....

    When she took out the loan, it was based on her part time wages, and benefits and it was a lot of money, £11000...

    Is there anything that can be to stop her losing her house and any more stress.

    She has depression and this is the reason she left her last job, i was thinking a time order for the loan.

    Thank you
    Tags: None

  • #2
    Re: Secured loan advice please

    Hi there

    Was there any insurance on the loan by any chance?

    This may be reclaimable if she was not eligible for a number of reasons that may apply.

    Comment


    • #3
      Re: Secured loan advice please

      Originally posted by stephen22 View Post
      Just another piece of advice please. I have a client who has a secured loan on her property as well as a mortgage. She is in arrears with the mortgage and the loan.
      She has been to court over the secured loan and is now set to pay £50 a month...this she is struggling to pay.

      Is there anything that can be to stop her losing her house and any more stress.

      She has depression and this is the reason she left her last job
      I would be happy to help but can you tell me a bit more about the circumstances which caused this person to become your client in the first place? Are you a professional advisor?

      Comment

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