finally plucked up the courage

jlo

So, going by my posts on here I went from 6000 in debt to 16, 300 in three years.

my debts have always been secret and I have been in debt since I started university which was almost 15 years ago.

finally plucked up the courage to admit the truth to my hubby. My repayments are nearly 400 a month and he couldn't understand why I had nothing left from my salary each month.

luckily we aren't linked financially as we have seperate accounts - he is fantastic with money, really sensible and frugal and no debts at all.

i was so scared about telling him but he was really great. Really understanding and he is going to support me to climb out of this hole. He isnt going to repay my debts but he is going to provide encouragement advice and moral support.

I have nothing to show for this debt. It was all frittered away.

Pixie5740

That's excellent news. You're both doing the right thing by talking about it and getting support from your husband without him paying your debts for you. Now that it's all out in the open its hopefully onwards and upwards. I bet you're sleeping better now too.

Debtfree2018_2

JLo well done that is great news.
You sound like me, however I am in a lot more debt then you.
I can comfortably make the repayments but it will take me about another three years.
My husband knows I'm in debt, but not how much, he would be very disappointed and to be honest I am ashamed of the amount. He is super sensible with money.
How long will it take you to pay off?

jlo

It will probably take me six years. I can make the repayments but have been keeping it a secret and burying my head in the sand by repaying the minimum for years which has exacerbated the problem. I was horrified when I worked out how much interest I have been paying, and moved as much as I could to lower rates. It scares me how much credit I have access to, just sat and worked it all out this morning and it is over 29 grand which is roughly my salary before tax! I am glad to know I am not alone! But sorry at the same time that others are experiencing this.

socks_uk

You are very lucky to be completely separate from your husband financially. My husband opened up to me about his £32,000 debt in October 2013 and we are financially separate except for our joint mortgage.
I can no longer do balance transfers to 0% credit cards so I'm stuck with the rate I'm on. He's working through his debt with Step-Change but at least it's all out in the open now.
Good luck with getting yours all sorted. xx

Debtfree2018_2

JLo I couldn't agree with you more, I'm really surprised how much credit you can get, frightening!
Good luck!

colsten

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Beaker99

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Spuddy27

Good on you for opening up, that'll be a massive relief. Also very best of luck in clearing your debt! I told my new partner about my debt from day one and he's been a fabulous support.

I gained all my debt with my ex partner (not his fault I understand but he definitely contributed to it) and he was absolutely no support whatsoever so I got further and further into it.

It's amazing what support from your other half can do

You can definitely do this

On_my_way

Spuddy27 wrote: »

Good on you for opening up, that'll be a massive relief. Also very best of luck in clearing your debt! I told my new partner about my debt from day one and he's been a fabulous support.

I gained all my debt with my ex partner (not his fault I understand but he definitely contributed to it) and he was absolutely no support whatsoever so I got further and further into it.

It's amazing what support from your other half can do

You can definitely do this

Definitely - I told my new partner about my debt (from my ex mainly because he financially abused me and I was too afraid to stop him) from day 1 and he has been amazing support.