Newbie with help needed

LannieDuck

That's good to hear.

tallyhoh

Just read thread right through & I am glad you are now getting to grips with things.

I am still a bit puzzled though why you have been blamed (seemingly) for this situation by your wife.

I see you got into debt because you took out a loan to do necessary work to the house & then things got a bit out of hand. You dont seem to have spent the money on wine, women & song.

Does your wife leave you to sort out all the finances without discussion?

If so this seems a little unfair to me as it should be a shared responsibility.

I may be reading the siutation totally wrong of course & if so I apologise profusely:o

Stiffler_2

No problem. To be honest I think it's the fact I never told her about it all and the car finance which she never knew about which has done it. I think it would of been easier if I had a problem (gambling etc) as it would of explained where it all went but in reality I was just trying to keep afloat.

Stiffler_2

Things are going good at the moment even though I'm struggling personally I'm not letting myself get down by keeping myself busy. The mrs is back and helping us through it we now have a monthly budget set out and a structure. We have discussed about putting the house up for sale as soon as we can but we need to fit a bathroom first (it still has a wet room fitted as this was originally my mothers house who was disabled) so we are saving to get one fitted. We would be moving in with her mum for a while 12-18mnths and would save us an absolute fortune (nearly £2000 per month) obviously the debt would be paid off ASAP from the savings and equity from the house. My question is what is the likelyhood of us getting a mortgage with the debt paid off and the dmp paid off say 12-18mnth after?

LannieDuck

Fantastic update Really pleased for you.

Sorry I can't help with your specific question.

girlatplay

Sorry, I can't help with your specific question either but just wanted to say I'm glad to hear things are going good for you. Remember just to take one step at a time, one day at a time. Like you said before, maybe this is the kick up the backside you both needed. Work together and don't keep secrets!!

Stiffler_2

Thought I would give a quick update. Things are still going good and I got confirmation through that the dmp is set up which is great news. Also we are budgeting properly with both of us sitting down going through online banking etc and then planning our meals/shopping for the week. Just wondered if anyone could help with the mortgage question? I also wanted to say thanks for the fantastic support and advice I've been given on here absolutely priceless thanks!!

asparagus1968

Stiffler wrote: »

Thought I would give a quick update. Things are still going good and I got confirmation through that the dmp is set up which is great news. Also we are budgeting properly with both of us sitting down going through online banking etc and then planning our meals/shopping for the week. Just wondered if anyone could help with the mortgage question? I also wanted to say thanks for the fantastic support and advice I've been given on here absolutely priceless thanks!!

hope you are still on track.
maybe ask on the mortgage board about the other question?
good luck

Find_The_Real

Hello Stiffler, glad to hear things are going much better for you and things are getting back on track.

With the mortgage question hopefully someone will come along who is a bit better qualified but entering a DMP is going to probably affect your credit rating and therefore could have an impact on gaining another mortgage. Some companies will default relatively quickly even on a DMP and seeing how lenders seem to be much more strict these days on the criteria trying for a new mortgage may be a problem.

However like I say hopefully someone else can offer a bit better advice but I just wanted to wish you well and glad things are on a more even keel with both you and your partner.

Stiffler_2

Hi thanks for the reply. Things are still on track and we are budgeting really well. For the first time in a long time there is money still in the bank at the end of the month! The relief since everything has now got sorted is brilliant just looking forward to being debt free and moving house in the next year or two. Ill have a search see if these questions have been answered before maybe its a little early to be thinking about a mortgage anyway. Thanks again eveyone ill keep this updated.