partners debts -please help

lynzpower

hi Varadero girl :wave:

I dont know who this graham is but paying someone 50 quid a month when your 30k in debt seems like a bit of a ridiculous proposition to me, especially when you dont understand who he is/ what its for.

What he needs to do is sit at the PC here and do a statement of affiairs, thats income, outgoings APRs & debts as they stand now use martins budget planner.

then we can support & offer advice on where to go next.

Varadero_girl

Thank you for all your advice. Will try and get him to look at this site.

chevalier

It just occurred to me that £450 is about the amount it takes to file for bankruptcy. So maybe that is what 'Graham' will do. But I bet we can avoid that, assuming your bf has a decent income
chev

sgx.saint

I am in £33K worth of debt and on a self managed DMP. There is no way I would consider bankruptcy, and no need. BR should always be a very very last resort.

As the other posters have said, why not post an SOA for us to have a look at and see if we can save you some money.

HazelEyes_3

Hi and welcome to this forum.

As you will see if you read other threads it is also important to sort out the reasons for the debts mounting up and tackle those issues otherwise whatever you do will be a temporary fix.

Like everyone else I would caution against any financial arrangement that is not properly documented with a legitimate organisation.

And finally I would suggest that you check your own credit files on a regular basis to ensure that there is no financial association between you and your partner - you don't want his debt problems affecting your credit rating

balbs

On a positive note you have:

a. Had that lightbulb moment
b. Have a roof over your head and its not going to come off
c. Have a good start in getting your partner to recognise the issues.

A lot of posters here have big problems getting their other half (OH) to own up and recognise whats going on (99% its mens pride). You've made a good start on that one and if you can work on that you will be well on the way.

Everyone here can give you the help you need, but what you must do is take a big breath, write down everything that he/you are in debt to (no hiding!) and please don't think there is a magic fairy who can solve everything at a stroke. What it will make you do is feel a whole lot better (the commonest response by those who do it), as it means you are both on the way to sorting things out for the future.