partners debts -please help

Varadero_girl

have just cajouled my man into "adding up" his debts - staggered (both of us) that it totalled £30K.
I am debt free and own my own home. Lucky me
He has no assets at all and is self employed and has been given the name of a contact who for £450 (payable at £50 per month) will sort it all out. I am sceptical. can anyone help?
haven't used the site before to chat - only read the advice sections. it's all abit confusing!

saintly_2

sounds like he is hirin a hit man...lol only messin

im no good at this advice but someone will be along soon, they might suggest postin his soa, see southern scousers stickied post at top of page

xx

Varadero_girl

Thanks for reply. did suggest to him that me dead might provide a solution to his debt (only jokin - have changed my will !!!)
I have read advice of SOA but think that the "light bulb" moment has been more mine that his!

saintly_2

so this contact is it a company or a person??

iceicebaby

I cant think of any legitimate way that he would be able to do as your post says ? If there was everyone would be doing it! Unless he means a debt management plan but if so there are people like CCS who will do it for free.

Hang on for a bit someone with better knowledge will be on soon .

Varadero_girl

two replies at once thank you- do I just do this one reply to you both?
He tells me a friend of his recommended him and he's called Graham. I am very wary and think it might be a debt management plan but can't see why he couldn't do this through a site such as those recommended here.

saintly_2

yeah i think i wud be very wary giving "graham" my money, have they told u what graham does????

try cccs or payplan for dmp's

Varadero_girl

am I right in thinking that CCCS will sort out a dmp for free? will the plan lessen the amount in total? £30k seems a staggering amount to me!

saintly_2

im not on a dmp but someone will be able to help u on that score but both cccs an payplan are both free.

their websites

https://www.payplan.com

http://www.cccs.co.uk/

good luck

xx

Varadero_girl

Thanks. This is a great site. Having debt is !!!! but supporting someone you love who has debt is hard too.
Varadero Girl

madduck

Hi there. A DMP won't reduce the amount of debt that your partner has, it is a stuctured way of paying what you can afford to your creditors. Some creditors may cease interest charges whilst you are on a dmp - others don't.

It shouldn't be entered into lightly. It totally screws your credit rating as you are not paying the contracted minimum payments to your creditors.

Best option is for your partner to contact CCCS, Payplan or CAB to discuss the situation and look at the best option for him. Other options might be IVA or bankruptcy. All really depends on individual circumstances ie does he have property, what is disposable income, what is profession, etc.

I would be a bit wary of the 'Graham' option. Can't think of any legitimate way of avoiding debt - the thought of a hitman who could go after some of our favourite creditors would be good. Who first do you think - HSBC, Barclaycard, Northern Rock - nominations please!