Thanks Daddyman for your reply I don't think you read my previous reply and if you had you will see it was a failed business that caused this mess. We have done all in our power to ensure all suppliers got paid and not one person was left a cent out of pocket unlike many others who walked away and left people including us to suffer. The bank in question when we asked for longer time to pay off our debts on 3 different occasions have refused. They are insisting on us paying 30k off over 4 years, To be honest a lecture from you is so helpful and I thank you for it but please do your research before you comment. My credit history is at the moment perfect however this will not be the case soon and I am not a happy bunny at all.Have you spoken to MABS? They can provide very good advice.
A small remortgage may be an option and you should discuss this with a broker as to what can and cannot be achieved given your history.
I do think you have a bigger issue though which is that your finances in general seem to be a bit of a mess and you seem to have issues managing your money. There is a money makeover template which you will find on other posts on here which would be worth filling in to see what advice you can get
Thanks Daddyman for your reply I don't think you read my previous reply and if you had you will see it was a failed business that caused this mess. We have done all in our power to ensure all suppliers got paid and not one person was left a cent out of pocket unlike many others who walked away and left people including us to suffer. The bank in question when we asked for longer time to pay off our debts on 3 different occasions have refused. They are insisting on us paying 30k off over 4 years, To be honest a lecture from you is so helpful and I thank you for it but please do your research before you comment. My credit history is at the moment perfect however this will not be the case soon and I am not a happy bunny at all.
Were you affected by any of the downturns in the economy like many self employed were? Managing money is easy when there is little left to manage after banks take their share.
Hi Daddyman, Perhaps I am a little sensitive at the moment but I have been paying back the bank for a year and a half and now am just tired of getting no help what so ever, I am all ears when it comes to help, You reckon mabs would be the way to go for advice? I wonder what you feel is the bigger issue you keep referring to?If any offence was taken then my apologies, it was not meant nor was it intended to be a lecture. I spend a lot of my time supporting and consulting with small businesses and start ups in a voluntary basis via my local LEO and have seen plenty of people in your position. The reality is however that you need help, you can't afford to pay back your bank loan and you would be amazed the help that is out there if you look for it. I wish you well but I do fear there is a bigger issue but you are so deep in your current problems that you are finding it difficult to step back and consider it.
In your original post, you asked can the bank take funds from your husbands sole account. Potentially yes they can, it is called Combination or the right of set off.
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