Originally Posted by
toblue
Ok long story short. i took a 30k secured loan around 5 years ago. Can't meet the repayments. Paid for around 3 years not paid anything for a year, now with Lloyds recoveries Offered the bank £100 per month rising to £200 per month in 12 months time, rising to £500 per month in 4.5 years time when my mortgage is paid. Refused and said they are going to repossess my house. I offered them as an alternative 12k settlement (could go to 15k) over 12 months.
Tried for equity release to try and pay it off but refused due to the fact that my sewerage system is over 150 years old and roof timbers are rotten.
This is crippling me mentally, I am frightened to even have a smoke incase I go crazy with anxiety.
Strange place to ask for advice but anyone with experience of this situation who could give advice would be very much appreciated.
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