Help me please

loubell

thank you all for helping us giving us your time it is really appreciated,we have a lot of thinking to do...i my self have just been offered some part time work ,10 hours a week....which is even more complicating anyway thanks everyone you have all been so kind.

coolcait

loubell wrote: »

That was two different CAB,s as well.... never thought about the interest,but he has a card that has not went down in years so he already wasted thousands on interest.:(

the mortgage is over eleven years btw.

If your OH gets into a DAS, the interest, fees and charges on his debts will be frozen from the day his adviser makes the official application. That's by law - not just down to creditors being nice. They have to do it.


If he makes all the payments to the DAS, then the interest etc gets written off when he completes it.

loubell

i know i am going to get shouted at but would it be so wrong to put the some of the debts on the mortgage before going to a dmp/das. The advisor stated that he could take away £450 of the monthly debt payments for another £120 on our current mortgage of £379 and keep the length of mortgage the same ??? would this be ok if i insisted that he got us a mortgage with no early repayment clauses.....or iam i being totally stupid.He has no intention of using the accounts again i would make sure they are all closed,the cards are already cut up.

We just want a life again without worry in the last week of every month.

Pixie5740

You won't get shouted at but I am going to save my breath to cool my porridge from now on. I wish you well on your road to becoming debt free.

loubell

Pixie5740 wrote: »

You won't get shouted at but I am going to save my breath to cool my porridge from now on. I wish you well on your road to becoming debt free.

Sorry............

Nargleblast

It would be very unwise to do what you are considering, in your position I would leave the mortgage in my name but fix a better deal with no extension to the borrowing. Your OH needs to sort out a formal debt repayment arrangement so you know what to budget for in the household finances, and if you get any spare cash at any time it may be possible, depending on the debt repayment method chosen, to pay extra off his debts, thereby reducing the term. You must see the consensus of opinion is do not under any circumstances compromise your own financial health by putting another's debts on your mortgage.

The ultimate decision is of course yours, but take heed of the advice you have been given.

Gigervamp

I get the feeling the OP is going to go ahead and add the debt to the mortgage, despite people warning her of the consequences.

OP, have you contacted any of the debt charities mentioned yet?

loubell

Please do not assume i have made up my mind i haven't,i have being taking all advice on board and it has been very helpful,we are going to look more into the DAS route but their are restrictions i.e income and affordability it is not as straight forward as i first thought, i have been offered a part time job that will bring in £80-£100 to throw at these debt,which is interesting?
i dont want to just abandon him with this as we are a family and my child has enough problems with his disabilities without him coming from a broken home as well.
thanks again everyone for all your help.

asparagus1968

Hope you don't think I'm being pushy- but would you explain why you won't ask the debt charities for advice, as has been suggested a few times ?

loubell

asparagus1968 wrote: »

Hope you don't think I'm being pushy- but would you explain why you won't ask the debt charities for advice, as has been suggested a few times ?

Thanks for your reply and no you are not being pushy ,we welcome every little bit of advice.....firstly we did contact stepchange a year ago when we thought it was getting out of hand (i didn't realise how much) and they right away suggested a DAS but citizens advice said no way they wouldn't accept us so a year later and no further forward we came on here to seek advice from people who had been there and bought the t-shirt.

our story so far.......