Its not fraud but you really shouldnt be taking out a loan when you know a trust deed is the way forward.

that said,having been in your position its easier said than done. Are you still making payments to your creditors?

Paul

I have been making payments some of which have been reduced as agreed with creditors but don't think I will be making them this month or next.

Dont fear stopping paying your creditors. Missing the mortgage payments should be a last last option and avoided if possible.

Have you approached a firm to discuss a trust deed?

Paul

I know I have never missed mortgage payments before and it scares me just thinking of it,

not approached any companies just reading up on things just now but do think it looks like an option for me,

Given the position you are in I dont think you can delay in at least chatting through your options. Its very scarey but if a trust deed is your way out believe me its well worth it. I used rsm tenon but they arent around now but any of the companies with representatives that post on the forum seem to be highly recommended.

the relief even after a simple chat cannot be expressed in words.

paul

thanks or that Paul much appreciated.

No problem. I think sometimes hearing from people who are out the other side of a trust deed makes the solution more real than having an advisor tell you this that or the next thing. Dont get me wrong you need professional help but sometimes things seem too good to be true when explained by somebody who will profit from your misfortune!!

plus there's a lot of cowboys out there!

Paul

Hi Hope4me,

It's easy for the rest of us to say but you really want to try and avoid taking out further debt and missing mortgage payments if possible.

If things are extremely difficult and finances are tight then you can speak with your mortgage provider and request an authorised payment break. I know my mortgage company allow this and I've also processed requests for my clients to have mortgage payment breaks whilst in their Trust Deed.

As Paul suggested another option could be to miss payments to your creditors to save money and help you get by in the short term.

It's perhaps time to speak with a couple of advisors about your situation so you have a better idea of things and a way out with a set timescale and plan. There really is no harm in doing this. You will only be able to do so much research yourself but again as Paul said the relief of speaking with an advisor about things can really help.

I always try to tell people to remain positive as there is normally always a solution to their financial difficulties. So, try and stay positive about things as there is help out there for you.