Wondering if anyone can advise

sjb16888

Right, I was with CAP - Have now taken on the debt myself, as my partner has now moved in.

The debt is not connected to him at all - and so I want to pay it back.

My debts are:

Hitachi Loan - £3194.05

Barclaycard - £1771.89

Barclays (overdraft) - £917.75

Total Debt £5884.69

My agreement with the overdraft is £30 p/month

Barclaycard min payment is £81.00 p/month

Hitachi want my minimum payment of £137.00 which i cannot afford...

Can I set up a SOA for just me even if he lives here?

It is not his fault I have got myself in a mess, so I don't want him connected to the debt if that makes sense, he is always good with his money.

National_Debtline

Hi sjb


Your query makes perfect sense. You can indeed just draw up an SOA based on your share of the household for the purposes of negotiating informally with your creditors.


Your partner can't become liable for debts incurred in your sole name, regardless of how you arrange your finances as a couple.


Do you have your SOA handy to post here? Or to put it another way, do you know how much you have available to offer between all three of your credit debts? As your largest creditor, Hitachi are likely to seek a larger payment offer than the other two - at the very least an offer in proportion to their share of your total debt.


Dennis
@natdebtline

sjb16888

I don't have my soa drawn up yet. How would I go about doing this? Would I explain that I pay a certain percentage towards household costs?

Thank you for your reply