Any way out?

Wyenot?

Hi
Do any of you experienced folk have any advice please?
My (now separated) husband ran up debts buying (anything, especially outdoor, IT and FISHING stuff) and getting into pie-in-the-sky and dodgy situations. He's once again out of work with large debts of his own to pay back and 2 young boys to support. We are going to be going through divorce proceedings if he can afford it.
My situation is:
1. c£8k debts on 2 credit cards in my name (I know, how stupid) - I'm currently repaying slightly more than the minimum.
2. He has procrastinated doing his and my business accounts and as a result I have been unable to claim Tax Credits for the last year, in fact I have a £2,300k repayment claim from them (it's in both our names and I'm prevented from making my new claim and helping my son get his EMA grant as I'm waiting to get the accounting from him.
Should I just pay an accountant to do them?
3. He ran up £1500 on my business Credit Card and I am currently repaying it monthly.
4. I can't do the Credit Card Shuffle b/c my cards are virtually maxed out (c £400 from limit).
5. I tried applying for a couple of new CCs to do a BT but was refused.
6. I did a free Experian Credit Check and found my maxed CCs and large number of CC applications are going against me but nothing I can do about them.
7. We borrowed £1500 from my sister when he had a court action against him.
8. I have £2k on my current account.
9. The one hopeful point is that I've saved £1000 (only a drop in the ocean) and am considering paying that off against the most expensive CC debt.
Any advice would be MUCH appreciated.
Can I add that before him I had c£2k in my current account, paid off my CCs every month, I had no debts and saved up to buy important things or take my kids to visit family in HK.
How did I let him persuade me to put myself in such an insecure financial position...? he promised to pay it off...etc etc....
Thanks.

Lensman_2

You need to draw a line now regarding your finances. No matter what happened between you and your ex it is in the past.

Right now you need to ringfence your finances from his. Any account that he can get money from needs to be closed or changed so that both of you are needed to approve a payment/withdrawal.

If you have reached that stage (and not before) consider your position. Can you realistically pay all that is due every month and live too? If not then you need a debt management plan. Call Stepchange, National Debtline or CAB.

If you can realistically pay all that is due every month then Snowball.

Anything left owing from him can be dealt with later.

double_mummy

Wyenot? wrote: »

Hi
Do any of you experienced folk have any advice please?
My (now separated) husband ran up debts buying (anything, especially outdoor, IT and FISHING stuff) and getting into pie-in-the-sky and dodgy situations. He's once again out of work with large debts of his own to pay back and 2 young boys to support. We are going to be going through divorce proceedings if he can afford it. is the paying maintenance?
My situation is:
1. c£8k debts on 2 credit cards in my name (I know, how stupid) - I'm currently repaying slightly more than the minimum. do you know the balances and interest rates? are they active or defaulted? still with the original lender?
2. He has procrastinated doing his and my business accounts and as a result I have been unable to claim Tax Credits for the last year, in fact I have a £2,300k repayment claim from them (it's in both our names and I'm prevented from making my new claim and helping my son get his EMA grant as I'm waiting to get the accounting from him.
Should I just pay an accountant to do them? this might be a good idea as it can have some other negative effects as well
3. He ran up £1500 on my business Credit Card and I am currently repaying it monthly. did you let him use it or did he take it (fraud) if you let him then it doesnt make a difference you are still liable for it
4. I can't do the Credit Card Shuffle b/c my cards are virtually maxed out (c £400 from limit).
5. I tried applying for a couple of new CCs to do a BT but was refused. your credit rating is trashed and by applying for more credit at this time you are only making it worse
6. I did a free Experian Credit Check and found my maxed CCs and large number of CC applications are going against me but nothing I can do about them.
7. We borrowed £1500 from my sister when he had a court action against him.
8. I have £2k on my current account. does this mean you have 2k in your current account or you are 2k into an overdraft?
9. The one hopeful point is that I've saved £1000 (only a drop in the ocean) and am considering paying that off against the most expensive CC debt.
Any advice would be MUCH appreciated.
Can I add that before him I had c£2k in my current account, paid off my CCs every month, I had no debts and saved up to buy important things or take my kids to visit family in HK.
How did I let him persuade me to put myself in such an insecure financial position...? he promised to pay it off...etc etc....
Thanks.

post an SOA and lets see what we can do and get in touch with business debt line ASAP

[Deleted User]

OP if you live in england EMA has been abolished