hi again ok i have had hopefully the best idea yet - i have worked out a plan over the next 12 months of paying every penny i earn (minus living costs) back to the unsecured loans etc. i am selling my VW touran - should get in region of 8500 for it - this will clear 1 loan. I am a model and have a j...

hi - i agree - what about the 2nd charge loans - i have a picture loan which puts me into negative equity of 60k!

What will happen to this market?

Better still what is happening to picture finance now they haved closed to new business?

i would love to settle early but i feel like im paying for nothign - as ive paid 15k and yet only decreased my picture loan by 950! and then if i paid it off early i get charged 6 months interest! cheek!

so whats the verdict - does everyone think my best option is bankruptcy?

what do you think about me shortening the term of the picture loan to ten years - will they do this? Do you think it will increase the payments too much?

I just want to get out of debt quicker than 25 years!

hi umm i see what you mean - but i did my loan through a company called funding network who i think phoned me up to offer there services out the blue. the underwritter is picture but thye had no part in the interview and advice part. does that make any difference? Ive complained about the fact i was...

hi - what if the court decided that i have an unreasonable contract with picture ? ive read that if they can decide on that and decide its not a fair contract that they can freeze the interest and reset the payment period etc. so tell me more about the house thingy - i really dont understand - if i ...

hi again - thanks for your further help. im useless arent i! i did try to sell the rental property but in the market and where i live it isnt selling - so ive done it up a little ie new carpets and im renitng again as its empty and i dont have the mortgage payment for that ! Long storey but basicall...

hi - ok ive been looking into banckruptcy and i really couldnt do that - my home doesnt have any equity in - but i really wouldnt want to loose my house! what if i did an iva? and asked picture to freeze the loan and reduce the term? Theres got to be something i can do to prevent bankcruptcy. i can ...

hi again - i just thought - what if i reduce the term of the picture loan - on their website the terms start at 120 months? Could i ask for a shorter term of 5 years?

hi - thanks for your help everyone. My mortgage rate is 3.99% for 3 years fixed just before the rastes jumped last year. its interest only. We also have another house which we rent out - the mortgage on this is £170,000 - worth about £180,000. Theres no 2nd charge on this house. Im really scared abo...

hi - i have a situation that im in debt with. I have a mortgage with Northern Rock. This is £205,000. The house is worth £220,000 at the very most. 2 years ago i took out a secured loan with picture finance for £71,000. They leant me 125%. It was to consolidate smaller loans etc. however these small...