Hi everyone I am new to this site.
I really am begging for any advice and help on a secured loan ,
ten years ago we took out a £37k secured loan with swift advance
we have been paying 600 a month and over the ten years have been in 12 months arrears which are 6000.
The problem is the loan is at its end of term next feb
and there is still an amount outstanding of 26k in total
up to now we have payed 78k
in feb there want us yo pay the outstanding balance of 26k all at once
which is just in possible or they are going to repossess our home.
We have not missed a payment in four years and we both work and
I have even said I will up my payment by an extra 55 but they are not budging.
I have seeked advice from step change and I have even tried to remortgage
but due to our house being shared ownership we are not allowed
due to this worry I am on antidepressants and sleeping tables
and I can't cope any more the thought of our home being repossess is unreal.
I have two young children and they don't do change
please I need as much help and advice as possible to prevent this from happening
ps I have also asked them if they could extend the loan but nothing
