What can I do - advise needed.

Runningtostandstill

Hi - first post. I regulary brouse the forums but never thought I would be posting!

My wife came home on Friday and told me that she was in debt but would not tell me the figure as I would go mad but she warned it was over £10K. Eventually she confessed that it was actually £37k. This has come as a huge surprise as I pay for basically everything and have always done so. From over £1000 take home pay my wife pays £300 towards bills and pays for the food. Thats it. I have bought every car, house, holiday etc.

She would like me to increase the mortage to cover but I am not sure I can do it and to be honest want to as I am soooo angry.

This was the last month our daughter is in nursury and I was looking forward to saving £500 per month. I have a small amount of debt (£5k) which has all been for work on the house we are restoring which I hoped to pay off now nursury has gone. What are our options???? My take home pay is £1600 and my out goings are:

Mortgage - £650 (raising to £700 in Nov)
Car Loan (£90) Finishes Nov.
Gas, Water, Elec - £115
Council Tax -£140
Nursury - £500 (reduces to £80 per month to cover holidays next month)
TV Liceance £12
B/Band - £12
Mobile - £12
Telephone - £20
Diesel - £80
Car Tax - £10
Servicing £10
Sky - £21.50 (no TV signal were I live)
Joint Life insurance - £30
Car Insurance - £30
Building Insurqance - £25

As you can see I have been paying for everything and am really thrifty - I do all the work on the house, car etc and never pay shop price. I cannot get my head around so much debt with absolutely nothing to show for it.

What are my options?

davek1

I'd suggest your wife contacting either CCCS or Payplan. they will be able to advise her as to what to do, and sort a debt management plan out for her ( assuming she has some sort of income)

I know its easy to be angry but now is the time to be understanding. It took a lot for her to confess to you. Once you get over the initial shock and anger you need to work with her to sort it out. It can be done as many on here will testify. Make sure she cuts up credit cards etc and sort out a basic bank account with no overdraft option.

dave