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I’m Looking for Information on Liberty Credit Law. – Rick

“Dear Jon,

Just retired after 36 years in education. Retirement income is half of previous income. My wife works in school system as well. Our health insurance has increased 300 fold. While we were both employed previously our insurance was just dollars a month. Now that she has picked me up it’s increased to 300 a check or 600 a month. My retirement income is just short of covering our mortgage. with the loss of income and the addition of health insurance we have very little disposable income. I would like to get my monthly mortgage reduced to about 900 to 1000 a month. It is currently about 2200. We have lived in the home for 9 years. our current interest rate is 5%. I believe my wife had the note renegotiated a couple of years ago. However since retirement and the loss of income, we are tight every month with the additional payments of utilities. Both vehicles are paid for, but our daughter and 2 grand children do live with us, so there are const ant additional needs, like signing up for soccer, cleats, school fees. Just living life.

What is the process and who are the best companies to contact for this service?


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The Answer


I am slightly confused by your question, I am assuming you are looking to refinance the house to try and lower your mortgage payment, correct?

If so, contacting a mortgage broker, some local banks, and speaking to your current mortgage company are all good starting points.

From what limited information you gave, I am unsure how realistic it will be to have the mortgage payment basically cut in half. That is a huge reduction.

Have you looked into other health care policies or options to reduce that expense? In some instances when you retire you can keep your current policy, yes the premium may be a bit more, but you still get the benefit of a group policy. Not knowing what type of coverage you had, or through whom, I cannot really say.

You also may want to think outside the box a bit, meaning outside the house. Can you really afford the house now? How much equity do you have? Can you scale down, difficult possibly as you have your daughter and grand children with you.

What does your daughter contribute to the household expenses?

Just a few things that came to my mind.

Let me know and we can look at this closer.


Im Looking for Information on Liberty Credit Law.   RickJon Emge is an experienced UK debt advisor who has helped thousands and thousands of people in the UK to deal with problem debt. Jon specialises in finding good solutions for problem debt using a variety of UK specific techniques.

If you have a question you’d like to ask about how to get out of UK debt, just use the online form. I’m happy to help you for free.

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