Help needed

Katie.lou

Hi all ,

I am new to the forum and don't really know where to start . I am in debt of around 10k . This is credit card debt that has build up over the years . I just don't know how to solve this. My partner is unaware of the debt and I have wanted to tell him on many occasions but every time I try to I bottle it .

I know I need to tell him and I know this sounds stupid but I have no idea how to tell him .


Thanks for reading my post and any help would be appreciated .

Missko

Hi Katie,


I had a similar problem and had to "confess" to my dad.


Do you live with your partner? Do think he "knows"? If so, he may be relieved to find out that's "all" the problem is!


Tell us a bit more about your situation and post a statement of affairs - your incomings and outgoings.


Good luck!
Kirsten

asparagus1968

hiya,
here is a link for a statement of affairs


http://www.stoozing.com/calculator/soa.php


do you know who/how much debt/ APR's for your debts?


have you defaulted on any? any CCJ's?


once you have all the facts, you may have a plan, which might make it easier to "confess" ? you know, having a problem but having a solution, but asking for emotional support.
(unless he's a millionaire:))


welcome to debt free wannabe!

Byebyedebthellolife

Hi Katie Lou.

I am new to all this so don't really have much advice hopefully more experienced posters will be along soon to give some help!

I'm in a similar situation to you. I owe about 12k in total on credit cards, My husband does know about my debt and is very supportive. He is as bad as me but has a much higher paid job. Only you can decide if you want to tell him about the debt.

Can you move any of the debts to a 0% card? Is there anyway you can save money? (Spend less on food shopping, get rid of unused contracts) Have a clear out and sell on ebay/at a boot sale. Can you do any over time or have any skills where you can make extra money?

Good luck x

longtermplanner

I agree with the others. The key to "confessing" is to have a plan for how you are going to pay off this debt, and to do that posting a Statement of Affairs is the best first step.

melibu1984

Hi Katie Lou, I have a lot of debt too, but I don't have anyone to fess up too!

I owe £7866.59 to 13 creditors, not including one CCJ.

Until the end of last month, I had a DMP with StepChange, but I am now in a position where I can manage my debts myself and pay some off ahead of schedule.

Definitely complete the SOA. Be as comprehensive as possible. While you're doing it, see if there's anywhere you can reasonably cut down.

Are you able to change your phone tariff, can you shop around for a better deal on a balance transfer credit card, can you get a better deal on your home insurance, pet insurance, can you shop at a different supermarket . . .

I personally did a comprehensive budget of my own outgoings and then mapped out the payment schedule I want to follow for my own debts, including when I will be able to pay some off. It's exciting to see, on paper, when they will be paid off.

If you cannot make minimum repayments, contact your creditors as soon as possible, see if you can make arrangements. While you're doing that, ask them to freeze the interest and charges. Some might not, but it doesn't hurt to ask.

Most importantly, do not give up.