Divorcing with A LOT of debt - advice needed!

pilliepop

Hi, my husband and I are separating after 19 years of marriage and between us have been incredibly irresponsible and have accumulated a lot of debt during that time. My hubby had a gambling problem and his debt is actually currently being dealt with through an IVA. My debt, however, is all unsecured and the payments total nearly £900 per month.

My question is this - due to the circumstances behind the split, I am moving out with our two children and need to find rental accommodation. The difficulty is that I do not have the disposable income to be able to afford this. My salary is good - £30k per annum - however nearly half of this is paid out every month on my debts. Due the the level of debt I have, my credit rating is poor, so consolidating is not an option. Can I enter into an IVA myself and still be able to rent a property without problems, or shall I approach the creditors myself explaining the circumstances to ask if they will accept a lower payment?

Many thanks in advance for your help,

Lara44

Pilliepop, you might be better posting this in the Debt Free Wannabe forum, as there people will be able to give you more suggestions as to how to move forward with your new living arrangements.

chevalier

Just querying why YOU are moving out. Why can't he? You might look into phoning Stepchange or Payplan to talk about your options. They do Debt Management Plans for free, don't go with a fee paying one.

Good luck
chev