Just dont know what way to turn

adpod

If it was me in the same position I would:

In the short term, Speak to the loan companies, explain the situation and they might be able to offer a solution or reduced repayment rate atleast for a couple of months.

In the long term, If theres equity in the home, I would put it up for sale right away.

(IF) it sells use that money to clear all your debts off then you can start over again with money in your pocket.

But it would depend on ownership is your OH named on the loans or mortgage and why dont they pay anything towards the bills or children?

Principia_2

worried2bits wrote: »

Even if I reduce the payment to £245 on the £10000, that frees up £155 a month but increases the debt back to 9 years and about £20000 interest.

Sitting here in my coat cos I darent put the heating on.....

At this moment in time I would honestly try not worry about the long term debt - all that matters is whether you can get afford to get through the short term.

There's a couple of threads on here about heating on/off type things with some useful ideas on alternative ways to keep warm.

https://forums.moneysavingexpert.com/discussion/276410 Is your heating on or off?

https://forums.moneysavingexpert.com/discussion/4202003 Preparing for winter IV
(yes there is another 3 long threads on the same subject if you want to read those as well!)

https://forums.moneysavingexpert.com/discussion/4084527 £7 per week menu ideas
(only for 2 and pricing possibly out of date but could be useful for the short term menu ideas)

There is also a thread about making meals around the Aldi supersix offers if you have one near, unfortunately I can't remember the name of the thread but one poster in particular has posted some really useful recipes.

There are lots of other useful ideas in the Old style section of the board http://forums.moneysavingexpert.com/forumdisplay.php?f=33

Have you switched utilities in the past - if not you may be able to make a big saving.

One other thing that occurs to me, do you have any contact your ex husband and could you persuade him sign the house over to you? Even if it's your name he may well be entitled to some of the equity so it's better to sort it out now rather than when he's had time to think about what he could get or if he gets a partner who may point things out to him (I hate to sound so mean spirited but you need to try and protect you and your children). Likewise do you have any joint accounts? This should be sorted as soon as possible.

pmlindyloo

There are many countries that have reciprocal agreements to enforce child maintenance orders.


This link explains how you get an order and which countries are part of the agreement.

https://www.gov.uk/child-maintenance-if-one-parent-lives-abroad/reciprocal-enforcement-of-maintenance-orders-remos

Since your mortgage company is unwilling to help I would be approaching the loan companies and asking for some breathing space whist you sort out the child maintenance issues. It seems to me that the child maintenance would make a huge difference to your finances.

macbabypam

Hi,

Just wanted to say that although you are obviously in a real tight spot, you sound like a determined woman. You can get through this, we have all been in the blackest of places on this BR board, but there will be light at the end of the tunnel for you, just as there has been eventually for the rest of us.

There is no debt problems that cannot be solved one way or another.The professional advice and the support ,as well as shared experiences you will find here will help you get through and find a solution that is right for you.

Try your best to stay positive and enjoy Christmas with the children and family love your ex is missing out on.

debt_doctor

Hi,


If you returned to your normal contractual payments (not overpaying) could you afford this, including having a reasonable food budget?


DD