I'm a mess

bluewagon_2

I on currently in the process of cancelling my DMP with a company that charges me a fee and awaiting a telephone appointment with CCCS to see about setting up another DMP where I am not charged. I have also written to my creditors to say that this will not affect my payments as I will make them myself until new DMP is set up.
My OH has no idea of my debts which total £28k. I only struggled with my repayments when I was made redundant and my new job doesn't pay as much as the old one.

The only joint credit we have is our mortage which is on a fixed rate until May 2014. We then only have another 4 years left on our mortgage.
I know I need to tell him so that he can dissassociate himself from me and hopefully get a new mortgage by himself in 2014

I am having more sleepless nights about this than I did when I was facing upto my debt. I might put off telling him until 2014 but know this is the wrong thing to do. Arghhhhh.:(

debtcutter

Hi Bluewagon,

Nobody here can tell you exactly how your OH will react, but I think it's likely that you'll get a better reaction the sooner you explain it to him.

If it was me, I'd be more upset if I found out years further down the line.

I'm not a mortgage expert, but I'm sure that if you have a joint mortgage you are being financially linked already. Any account that is joint, would cause you to be linked on your credit file.

You're doing the right thing in going with CCCS imo, there's no point in giving a % of your money to a debt management company, when the CCCS can help you do what they do, for yourself, for free.

I wish you all the best with this and I hope your OH understands when you do choose to sit him down.

Good luck and well done for asking for help, it's the first step!

Tixy

Hi

Good news about switching the DMP, and a good idea to keep creditors informed of what you are doing.

Whilst the mortgage is in joint names he won't be able to do a disassociation.

I know its really hard but I would recommend telling him.
At the moment if he applies for credit he could be affected by your debts/defaults and that could lead him to be declined.

Does he really have no idea about any of the debt? did you have some of it before you met him? if not did he not ever question how much you were spending compared to your salary?

Hopefully it should be easier to tell him when you can also say that you are handling it, have a DMP set up and are paying what you can afford and its due to be repaid by X date.

Good luck

bluewagon_2

One loan is old - taken out in 2005 was paying £280.00 a month.
Another one I took out 2 years ago was paying £170 a month , the rest is made up of 2 credit cards with balances of just over £5k each.
We have separate bank accounts so doesn't really notice what I spend and as long as I paid my share of the bills and mortgage he had no cause to query it.

I also tried to register with a free credit check company this morning and wouldn't let me register. It asked for a credit card and the only ones I have are now cancelled and the balances being paid back.!!!!

Tixy

Which agency were you trying to register with?

bluewagon_2

its called Noddle

Tixy

Can't you join up for noddle with a debit card as identity (I thought from memory you could?)

bluewagon_2

it asked for Visa or mastercard, I only have a maestro card