Homeowners in debt
Homeowners who are stretched with finances need to realise that priority debts such as their mortgage, secured loans or car finance have to be addressed before credit cards or any other unsecured debts as they are more at risk. Some may have no choice but to sell their home to pay off their debts caused by the “bully boy” tactics from their creditors.
Recently there have been companies in the tabloids offering to buy properties for cash, preventing repossession and renting it back to the sellers. This enables the seller to pay off existing debts, but the end result could be devastating. These companies have been exposed in consumer related organisations as no more than glorified landlords.
Here are just a few examples of why we should avoid these companies:
- Not regulated (anyone can start operating)
- Proud homeowner turned into a tenant in their own home.
- Tenancy agreements are usually 6 months.
- If tenancy not renewed the company can serve notice.
- High rent payments means you could be evicted, no guarantee the seller will remain in their own property.
- Property bought below market value.
Have ever thought of offering lower payments to your unsecured creditors?
With debtuk.net we will calculate lower payments to all your unsecured creditors. The saving you make from that can be used to pay or make reasonable arrangements to all your priority debts. This means you keep all your unsecured creditors happy without the risk of losing your home. In days you could be sending your lower offers of payments to your lenders through debtuk.net. This is the most powerful debt reducing programme available.
