In Debt ref Credit Cards, best way out.

Fig_3

My wife who is in a decent job has got into a 11,000 pound hole ref two credit cards. I also have a decent job and alone should have a excellent credit history, my wife has not.
How do i help her get out of this situation. I am considering applying for such as the A&l 8% Loan, is this my best option if successful or is there other avenue's i should be considering, thanks.

cooltt

Sounds very nice of you but obviously be careful of loans you take out for others in your own name.

there are other options like IVA's etc but they will drasticly effect your credit rating.

out_of_cash

there is new legislation out for debts below 15k where you can get them wiped out without doing an iva or bankruptcy,if its your wifes debt and her credit history is already ruined i would seek some pro advice on this.

regards

out of cash

CLAPTON

Fig wrote: »

My wife who is in a decent job has got into a 11,000 pound hole ref two credit cards. I also have a decent job and alone should have a excellent credit history, my wife has not.
How do i help her get out of this situation. I am considering applying for such as the A&l 8% Loan, is this my best option if successful or is there other avenue's i should be considering, thanks.

it depends upon the details of her debts, her income, her outgoings and what asets she has

post up the results of this
....http://www.makesenseofcards.com/soacalc.html