Newbie And Just Admitted To Wife

southwester_2

Hi

First post for me

After two years of lies and deceit I have just admitted to wife that i am £27,000 in debt by means of tesco Loan 17644 - 6.1%, Halifax Card 2450 - 0%, HSBC loan - £1996 , Barclay loan - 5.5% offer - £4700

Was absolutely terrified of telling her but after two weeks I can now see a light at the end of the tunnel. She is still very distant but all the lies have stopped and we have sat down and sorted out all the money. I have willingly given her all control of it as I am hopeless, I have taken on a part time job to pay two of the small loans off within 10 months, I will then start to work on the Barcalys loan.

I have never felt so ashamed and embarrased in my life for putting my wife and son (10) through this. She went ballistic at first and after lots of tears on both our parts I hope we are over the worst although I know there is a long way to go. I am lucky that I can afford the monthly repayments and still save for holidays etc, I am aware some are in a worst state than me but reading the other posts on here has helped me.

I have cancelled all cards and am seeing a councellor in the next two weeks but I can at least sleep better now having shared this with wife, no more running to get the post etc.

Thanks

Snaggles

Well done for telling her, I really hope you are through the worst of it and that your family support you. There's nothing worse than trying to hide something so huge from the people you love.

southwester_2

Thanks Snaggles but we aer keeping this to ourselves, my parents are not well and I can t face telling them as they wouldn't be able to handle the stress

immoral_angeluk

I'm glad you told her and don't worry she will come round. It can be a bit of a shock to someone at first but you've gotten the hardest step over with so now you can both concentrate on sorting it out.

Snaggles

southwester wrote: »

Thanks Snaggles but we aer keeping this to ourselves, my parents are not well and I can t face telling them as they wouldn't be able to handle the stress

Oh sorry, I meant well done for not keeping it a secret from your wife any longer.......didn't make myself very clear (what's new).

southwester_2

I knew what you meant Snaggles no worries

Part time job will bring in £160 a month at least plus I can make a bit more on my travel expenses so reckon £200-220 a month better off and with regular payments going off loans as well I cant wait until November when 2 of the debts will be clear.

trish06

well done :beer:

Bambywamby

Well done for telling the Mrs.

Now you have come clean the debts will be easier to tackle and most of the stress will evaporate as you work at this temporary blip together.

well done x x

SSB

Well done, you must feel so much better now. It is always easier to see the way forward when you have a clear plan, keep us posted with your progress.

southwester_2

Will do SSB, actually looking at money in a differant way now and trying to save everything that I normally dont worry about spending

Crown

Hi and Welcome,

Its a relief isnt it when its all out in the open and now you can concentrate on debt elimantion!

If you wish post up your SOA as described in the first timers post at the top of the forum and let us see if we can help in ways on clearing the debt quicker. There really are some resourceful people here who can offer lots of advice and support

Good luck with it