Wife leaving, Massive debt... what do I Do?

Gaster

My wife is leaving me and has been having an undetected affair since last year. She has told me she doesn't love me and thats that. I am stunned but realistic. I just need some advice as financially we are in very bad shape. What are my options other than a high bridge!?

My salary £40k
her salary £16k
* we have 2 children aged 7 and 12

We have about £10k on a personal loan and a further £14k credit card debt. Its terrible and embarrassing - but real. I had plans to clear these debts over the next 6-8 years, and anticipated a salary increase (hence the long hours that helped cause the affair) but we now need a magical instant solution. Without the split the £24k would have been straightforward, but not now.

It gets worse, we live in a house with her parents. We have a mortgage for half of it (£174k) still outstanding. The value of the house has dropped to approx £300k. This means another £24k shortfall at least. Total £48k

What do you think my course of action should be and is there anyway I can come out of this still able to live, and also support my gorgeous children? Please don't slate me for the debt.. I know.

Upsidedown_Bear

Might be worth posting this on the Debt Free Wannabe board - plenty of knowledgeable people over there.

http://forums.moneysavingexpert.com/forumdisplay.php?f=76

mel48rose

Gaster wrote: »

My wife is leaving me and has been having an undetected affair since last year. She has told me she doesn't love me and thats that. I am stunned but realistic. I just need some advice as financially we are in very bad shape. What are my options other than a high bridge!?

My salary £40k
her salary £16k
* we have 2 children aged 7 and 12

We have about £10k on a personal loan and a further £14k credit card debt. Its terrible and embarrassing - but real. I had plans to clear these debts over the next 6-8 years, and anticipated a salary increase (hence the long hours that helped cause the affair) but we now need a magical instant solution. Without the split the £24k would have been straightforward, but not now.

It gets worse, we live in a house with her parents. We have a mortgage for half of it (£174k) still outstanding. The value of the house has dropped to approx £300k. This means another £24k shortfall at least. Total £48k

What do you think my course of action should be and is there anyway I can come out of this still able to live, and also support my gorgeous children? Please don't slate me for the debt.. I know.

Im sorry to hear of this sad situation you find yourself in. At least your children have a lovely caring dad. I'm sure you will come out of this a stronger person and move on with your life.