Excellent credit rating and financially well off, we decided to consolidate all credit cards and loans via our equity in the mortgage, as it was costing us near on £800 a month just to pay the minimum amounts, remortgaging reduced our payments down to £250 on the term of our mortgage and would also release credit, which would only be used for special occasions or if we needed to use in an emergency. We paid out £25K to all creditors. Unfortunately, my partners contract came to an end sooner than expected, but another contracted was indicated, this did'nt happen, so had to use the credit cards to help us get over the period of no income from partners contracts, after shopping for food the card was declined, we then contacted the creditor whom told us we had no available credit, shocked then asked why, credit limit had been reduced, this has left us financially in trouble, and now in arrears with mortgage, whom will assist in the sale or repossess. Can anyone advise as going down fast.
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