Please help - debt problems

fatbelly

Debt147 wrote:

A friend has suggested I tell my partner and get the debts put on our mortgage...

The first bit of that is good and the second bit is bad.

We generally advise people, as you've discovered, to share their situation with those closest to them.

But we don't think converting unsecured debt to secured is a good idea

And the consolidation loan is only going to work if you've truly had your lightbulb moment. I hope it works out for you, but a lot of us haven't been disciplined enough not to get further in debt following consolidation. Try not to join that club!

Bunnyinthelights

Debt147,
I personally would NOT consolidate-I tried that on several occassions and I am now just under £50k in debt-I never addressed the issue, got bailed out twice by my DH and it never helped, the learned behaviour just continued...Then I had to tell him about the debt, went onto a DMP and my life has never been better! (ok, some bits are still sh!te but on the mend)
you have admitted to an addiction, I think you should address that issue first.
I hope that doesn't sound too harsh but I've had to take the hard road to figure it out...
Bunny

jbbonce

I know it is only a very small saving in the grand scheme of things, but if you want to carry on with the dvd's you should switch to tesco dvd rental. it starts at £7.97 a month and if you go through quidco you'll get £4 cashback.

Good luck with everything. You've been brave by posting on here and you should feel proud of yourself for taking the first steps to sorting it out.

edited to say you can also tart with free dvd rental offers

Debt147

Bunny

I have consolidated before but am determined not to let my old habits slip. However, much depends on whether I get accepted for a loan or not.

I'm a bit worried about DMP as it says on the CCCS, would it have an affect if say in the next few years my partner and I wanted to move house? Not sure if they affect mortgages or not?

I am expecting some information from the CCCS in the post over the next few days which I'll have a good read through though and see if that looks like a better option for me.

I find it all really confusing to be honest!!!

Alisonbel

I have a payment plan and you will get defaults on you accounts which stays on your " file" for 6 years. CCCS gave us Charcoalonline's number to see if we can't get a better deal on our so there are obviously people willing to lend money. Don't know if this helps but thought I'd drop it in anyway.

Alisonbel

I have a payment plan and you will get defaults on you accounts which stays on your " file" for 6 years. CCCS gave us Charcoalonline's number to see if we can't get a better deal on our so there are obviously people willing to lend money. Don't know if this helps but thought I'd drop it in anyway.

Alisonbel

Sorry don't why this came up twice!!!!

purplealoe

A friend of mine owed over 40k. He went to see the CAB who advised him what to do.

Basically, they give you lots of information and you contact someone who specialises in debt problems, as mentioned above. They will ask you to complete an outgoings report and you will draft letters to all your creditors.
(copies of these letters are in the CAB pack)

My friend never took out a loan, still had 1 credit card to use and all the others had the interest frozen. The creditors cannot chase you for more payment, if they do there are classed as harassing you.

Sometimes the payments to individual companies can be as little as £3.00, they will have to accept it.

Then after about 1 year my friend was able to sell his home and pay off the remaining debt, although he was told that if waited 5 years that the debt would be written off (not sure about that though). When he was ready to pay off all the credit cards he asked them for a settled payment and to his surprise it was lower than what was owed. I think they may have taken away the interest.

Good luck

purplealoe

A friend of mine owed over 40k. He went to see the CAB who advised him what to do.

Basically, they give you lots of information and you contact someone who specialises in debt problems, as mentioned above. They will ask you to complete an outgoings report and you will draft letters to all your creditors.
(copies of these letters are in the CAB pack)

My friend never took out a loan, still had 1 credit card to use and all the others had the interest frozen. The creditors cannot chase you for more payment, if they do there are classed as harassing you.

Sometimes the payments to individual companies can be as little as £3.00, they will have to accept it.

Then after about 1 year my friend was able to sell his home and pay off the remaining debt, although he was told that if waited 5 years that the debt would be written off (not sure about that though). When he was ready to pay off all the credit cards he asked them for a settled payment and to his surprise it was lower than what was owed. I think they may have taken away the interest.

Good luck

mountainofdebt

I know you don't want to tell your OH what the position is and I can relate to that .....my OH doesn't know either the full extent of our position and at the moment I don't want him to know either.

Personally I think as long as SOMEONE knows about a) the gambling issue that you have and b) the position you are in debt wise then that will do for now as they can give you the support that you need to deal with this.

Now the loan - how long has it left to run? Obviously when that has finished you can throw the £250 you are currently paying at the CCs.

Another question how has it been decided how much is put into the joint account for bills? Have a look to see if you can get everything cheaper and if you do sign up to a new supplier see if you can use the various cashback sites ....and put the cashback towards the debt. By doing this you by also release some of the money you are currently puting into the joint account towards your debt.

what about buying a season ticket for travel.....

DOn't worry you will get there I promise!

When you say you are spending £10 per month on dvd rentals is this rental through the post per chance? Can you go on to a lower deal and/or change the company you are renting from? Again this can be done a little underhand if you wish as the company we were with only sent dvds if they had our choices available.