Am I doing the right thing

Broken_hearted

My other half run up tones of debts when he was working, then he was in a major car accident which has left him disabled for life. He needs a full time carer (me). So I have had to give up work, we have 2 children and a mortgage.
Our debt is just under £18,000 not including around £4,000 of student loans which are mine but currentlyare deferred.
The issue at the moment is one of our creditors has offered us a settlement figure of £400 on a debt of £700. It would mean not paying anything this month or buying food. We have decided to pay it as in the long run we will be £20 a month better off. Which to us is a hell of a lot.
The question is am I right to pay it now. :eek:

Broken_hearted

anyone please

Iona_Penny

Oh no! don't do it. How can you manage without food etc? Your situation sounds like you need to be sure you are getting all benefits you are entitiled to (look on the benefit board)
You need to list your total income and outgoings here ( statement of affairs-if you have a quick look around you'll see how people do it) and then see what others think is a reasonable offer for full and final settlement. I so understand that it would be one less creditor to worry about, but with your total debt it seems a drop in the ocean and perhaps if you tell them the full extent of other creditors they would accept a lower figure.

BertieMeldrew

Wow! Am not an expert on these things and don't know your full circumstances but my recommendation would be that if there is any way you can then pay it... get that one out of the way.

There are people in this forum far better qualified than me to offer advice.. am sure they will be replying within a few hours.

Also not sure how familiar you are with this site but definitely don't look for consolidation loans without reviewing that with your friends here also.

Good luck to you all...

queenofthedump

Hi Brokenhearted,

I am afraid i dont have any real advice other than to ask if you are getting all the beneifts you are entitled to and are you getting any help from outside agencies ? Is there any one else who would be able to help you within the family friends etc . I appreciate being a full time carer is hard work very demanding emotionally draining etc- i used to do home support and i have nothing but respect for you and for people in similar circumstances. I would post you SOA on here as the guys and girls on this site have helpd me loads and i am sure they would be able to help you too.

Could you go back to the ones who have made you the offer and ask them if they could put it into payments over a six month period or something ??? I dont know if you can do this but someone here will.

Chin up big hug keep checking back to see who else has posted.