Advice Please

skint-at-19

Ok,
So i have a little bit of debt, and rubbish credit history
However im working ridiculous hours, with as little as 2 hours sleep a night, its really running me down.
I'm thinking of getting a debt consolidation loan, however i won't be able to get it in my name, as my credit is rubbish, so was thinking of asking my partner to get this.
However, he may be worried, that if we ever split up, he will be left to pay this, is there any contract we can get drawn up, to ensure that if we split, he won't be left with the bill?
Thanks

CLAPTON

realistically no there isn't

Your OH will be wholely responsible for the loan whether or not you give him the money to pay.

In principle, if there was a written agreement between you then he could take you to the small claims courts but if you didn't have the money then there's not much that can be done.

How much do you owe?
whats your income
do you have a proper budget

Tixy

I would definitely advise against this. Legally the debt would be his, and if neither of you could pay then it would be his credit rating that could be seriously affected for years to come.

Have you written out a detailed budget/statement of affairs (this is a good format http://www.makesenseofcards.com/soacalc.html) to see how much you can afford for debt repayments each month? have you worked on bringing down your outgoings? or sold anything you don't need to put towards debt repayments.

If you still can't meet your repayments then you may want to consider a debt managment plan with one of these guys - http://forums.moneysavingexpert.com/showthread.html?t=2077631