Need advice please

Csc897

My partner or 2 1/2 years has many debts. Before I met him he ran up alot of debts. He has phone bills from different companies some are £1000, he has several different payday loans which are building up interest and a loan which he took out on one of £100 is now nearly £700! He also has unpaid finance on a motorbike and charges on a bank card he was sold which charged him monthly fees. He also has loans from banks.

He is getting letters from debt collectors every week for all his different ones and he just puts them in a drawer ignoring it. I have tried to convince him to sort it out but he thinks he is going to have to pay so much hell be out of pocket.

We have a baby due in 7 months which was unplanned and he needs to move out to be with me. He has a small income from a job but we are already scraping by and are unsure what we can do.

Im worried hell just leave it and the interest will build and build untill there is no chance he can pay it back.
Im also worried that if he moves in the me or we get married will his debts transfer to me?
Please help!

Trajal

He really needs to sort this out quickly. Ask to have a frank conversation with him, sit him down and ask him to detail everything. Then you need to get him to talk to a debt advisory charity, lots of which will be recommended by people here.

It's tricky because *he* needs to face up to this, you certainly don't want to have him move in without this first being resolved.

Suggestion would be that he goes to a debt management programme, by the sound of it, but couldn't tell for sure without a full SOA detailing his income, outgoings, and total debts.

~Beanie~

Even if you get married, his debts won't transfer to you, as long as they are all in his sole name.

Trajal

And don't get joint accounts at the bank or whatever until his credit record is clean!

Csc897

hi Im glad none of his debts will transfer over, what about if a baliff comes round will they have power to take my or babys things?

And Im not sure what debt advice people to talk to. He has soo many debts even he doesnt know all of them, he remembers some that he has but they havent contacted him in a long time. he doesnt really knoiw how much he owes each company.
I dont want to pressure him too much, i know its urgent but hes already tackling his gambling problem with my help and he wouldnt have unless I had said something and so far so good on that. It feels like Im having to take control and I dont like doing that.

Trajal

Bailiff's have no powers - do not let them in and explain that you are a vulnerable young mother with a child. They will disappear so fast.

Sounds like he needs to find out just what his debts are. This is an interesting thread which may be helpful - https://forums.moneysavingexpert.com/discussion/51087

It basically discusses how to get a copy of your credit file from the various agencies. This should identify who he owes money to and how much. First thing to do is to find that out, make a list of everything he owes, make a list of what he earns, then make a list of his share of other (generally more important) bills like rent/food/etc that he needs to pay.

That should give you a final number which you can use to start paying off some of the debts. High interest first, minimum payments on the others.

Like I said, it may be worthwhile contacting some of the debt management charities that can help remove the stress from all of this - they contact the creditors for you etc.

I hear nothing but good things about http://www.stepchange.org/# and suggest taking a look at their website.

Don't be fooled into going with some of the commercial companies that try to charge you for the same service.