need out of debt

On_my_way

I agree about not financially linking yourself to your new husband.

He needs to support you as actually you were in a violent relationship and your son is following suit from his father but you need to take a step back and sort out your income and your debts now.

You can't give that son another penny and make sure that you tell your other children what has happened as you don't want him to force them to hand over their pocket money either like a bully.

Stick up for yourself. It might be tough but you need to look after yourself and your two other children.

You can do this. You can sort everything out and pay everything off.

Who is your DMP with?

rockm87

Call Stepchange charity. They give free advice, and may be able to help you.

Evie60

I am with Payplan

Evie60

My husband and I have a mortgage so we are financially linked . This has already caused problems as we had to arrange a new rate on mortgage and the only deal we could get was 4.99 on a 2 year fixed we owe 300,000.00 and on interest only could not at moment even think of repayment which is a real worry

On_my_way

Right - ok.

The most important thing is to act now (which you are doing).

Have you already started getting together clothes, shoes, belts, bras, bags etc that can go to cash for clothes? While their unit price is small you could stock up your cupboards (if you buy things on offer) in cash just as a result of having a clear out.

There is so much you can do to seriously reduce your expenditure. Can you work more hours to help you clear it all?

Keep your head up, you CAN do this. You can get these debts paid off.

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Marktheshark

St £40k you will not live long enough to pay it down.
Bankruptcy looks like the best option, clean slate in 12 months and clean credit in six years.
The other option looks like paying interest until death.
Do you own property ?

On_my_way

Can your husband not cover more of the bills while you seriously attack the debt? If you worked very hard and used full and final settlements you could get rid of it in a few years.

On_my_way

Marktheshark wrote: »

St £40k you will not live long enough to pay it down.
Bankruptcy looks like the best option, clean slate in 12 months and clean credit in six years.
The other option looks like paying interest until death.
Do you own property ?

No way, I don't agree with that at all. They already have a house and a mortgage - if the poster went BR she would seriously struggle to get a mortgage again.

Evie60

On_my_way wrote: »

Can your husband not cover more of the bills while you seriously attack the debt? If you worked very hard and used full and final settlements you could get rid of it in a few years.

We have no spare cash at all and have to find extra £500 per month already to get all bills paid . That is why we do students I can not do extra hours at work and neither can my husband

parsniphead

Hi Evie

I have just completed a DMP with Payplan and found them helpful through the seven years I was with them.

You will gets loads of advice and support here so keep posting. Be strong and you will get this sorted.