Newton Abbot, Devon, UK (PRWEB) November 11, 2008
Struggling families weighed down by mortgage debt worries are turning to ‘bad credit loans’ to bail them out and save their homes.
Growing numbers of homeowners with poor credit are seeking unsecured loans online to help solve their mortgage debt problems, reports Credit Problems No Problem (http://www.creditproblemsnoproblem.co.uk).
“We are getting increasing numbers of calls from people who need money to pay their mortgage loans,” said a spokesman for Credit Problems No Problem, which specialises in loans for borrowers with bad credit.
“Families can’t afford to pay their mortgage bills. They desperately need cash but they have money problems.”
Falling house prices and the return of negative equity are making life a misery for households with bad credit listings such as County Court Judgements (CCJs) and defaults.
Negative equity is returning to the UK housing market with a vengeance, leaving families stuck with large mortgage debt worries and homes they are unable to sell unless they incur big losses.
Some families forced by negative equity to abandon their house move plans are making do with essential home improvements instead.
“They need unsecured loans to cover the cost of necessary home improvements but may have CCJs or defaults against their name,” said the spokesman for Credit Problems No Problem.
“Bad credit need not be a problem though. We can help you to get money – even if you think you’re credit blacklisted.”
Credit Problems No Problem is hearing from increasing numbers of people caught in the negative equity trap.
One self-employed couple aged in their 20s invested