I am a single mother of two. I bought a house for 150,000 almost two years ago. My monthly payment is 928. I owe 27,000 in credit cards. I am making minimum payments for 600 every month. I can’t do it any longer. My credit score is over 700. I am current on my payments. I live in North Carolina.
What is the best option for me at this moment? I have somebody interested in buying the houes. Should I sell it? I just want to get rid off my unsecured debt.
A few questions first to help me better understand your situation.
Is there any equity in the property? Did you have a downpayment of any kind?
If you sell the house, will you make any money off the sale and if so, how much?
What is your income each month after taxes?
Do you recall how the debt grew on the credit cards, what did you use the cards for?
If you sell the house what will it cost you to rent/live each month?
Is the mortgage and credit cards in just your name?
I ask as many times people think the credit cards are the issue, but it may be afford ability with the house and they have used credit cards to make up an income deficit.
Let me know and we can look closer at this.
Jon 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.