Financial Difficulties

It is a daunting fact but Bankruptcy in the UK is rising at an alarming rate. The last thing you want is to become another statistic caused by the recession.

Are you struggling to make ends meet? Finding it hard to pay your mortgage along with any other debts you may have? Forest Kirk Properties specialises in helping people who are having financial difficulties. We can help you with your money worries and stop you from slipping further into debt.

The Problem

Borrowing more money to pay debt is a vicious circle. It is a dangerous way to try and solve your situation when it could lead to insolvency and bankruptcy.

All debt must be repaid and with interest on top. It wasn’t so long ago that credit was so easily available and pretty much anyone who had a modest or low income could obtain credit, but times have changed and it is more difficult to obtain any sort of credit. Those same people have fallen into the debt trap. They can no longer fend off creditors by taken out more loans or credit cards hoping that as long as the immediate situation was fixed, tomorrow would take care of itself.

Of course, tomorrow rarely takes care of itself and now the days of obtaining cheap credit are well and truly over.

If you’re considering remortgaging your property to consolidate all your debts, you’re essentially getting further into debt, but this time, the debt is secured on your home!

As the recession bites, more and more people are being made redundant or have become unemployed. What happens if interest rates rise? If you cannot pay your mortgage and pay your creditors then you are putting your home and family’s well being at risk.

Bankruptcy is a serious matter and should never be taken lightly. If you are declared bankrupt you will loose your home and all the assets you may have. You will no longer have control over your finances including your income. This can be a very emotional period to deal with as The Department of Trade and Industry will keep a record of bankruptcy for up to 15 years which would mean that you can be forced to pay back your creditors up for up to 15 years if your financial situation does happen to improve. It could be years before you are eligible to obtain any more credit, let alone buy your home again.

The Solution

The solution is to tackle your debt head on and pay it off, and take drastic action to reduce your monthly outgoings. If you have enough equity in your property, you need to sell is as quickly as possible and use the cash to pay off all or as many debts as possible. Forest Kirk Properties can help firstly providing you the right solution that meets your needs and finding you a committed buyer who will be ready to buy your property for cash within 28 days. This would mean you would be debt free, and if you choose to, you can stay on and rent your home. We can provide you with an option to rent back your home and an option to buy back your home when your situation improves at a pre-agreed price. You are under no obligation or financial penalty if you decide the offer isn’t right for you.

If you have little or no equity in your property, we can still help you. Enquire Online or Call us Now and we will do our very best to advise and help you.

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