Help me please

coolcait

loubell wrote: »

Thanks everyone my partner did that debt remedy thing on the stepchange website in his name only and it said that he has £278 available to repay debts monthly on a DAS which is a lot better than the £1100 he pays out just now he is going to phone them on his first day off my only concern is whether they will let him do it alone even though we live as a couple with a child?
I take it this is the right thing we are doing ?

That's a great first step! And, hopefully, that's the hardest step out of the way.


There's no reason why your partner can't go into a DAS on his own. Most of the debts are in his name anyway.


With apologies to Tom Jones, it's not unusual for one partner to have more debt than the other :-). Money advisers are/should be used to dealing with situations like this.


Good luck.

crazy_cat_lady

Hi - I went on a DMP on my own, in spite of being married with 2 kids. I hope that you're starting to feel a whole lot better about things now. Best of luck

loubell

Right partner phoned stepchange .They are going to put him in touch with a debt advisor here in Scotland regarding doing a DAS .Does anybody know how long it takes to set one of those up.They said he has £280 available for debt repayments every month does that really mean he can keep the rest of his wages to live on as long as he pays that,we really haven't a clue .

Oh nearly for got that advisor at the bank said she can get us a lower mortgage over the same term £30 less a month should we do that before proceeding with the DAS and should we default on some payments is that good or bad for a das. thanks again

Movingon5464

Just want to add that you should keep the £600 debt in your name out of your partners arrangement. Do everything you can to keep to the contractual payments for that debt so you don't mess up your credit file with a default or ccj. Your partners file will be trashed with defaults for quite a while but if you keep on top of your £600 debt separately then at least you have the option of remortgaging in the future.

loubell

Right guys just a quick update my partner seen an advisor about a DAS as a way of repaying our debts.....what i want to ask is the advisor has said he will have around £150 a week to live off if he does it himself ,leaving me with my income alone can i ask is that a normal or reasonable amount for him to be left as this will be over a long time or until something come up.This is after the mortgage and council tax is paid and as before its all in his name only.thanks for reading.

sourcrates

loubell wrote: »

Right guys just a quick update my partner seen an advisor about a DAS as a way of repaying our debts.....what i want to ask is the advisor has said he will have around £150 a week to live off if he does it himself ,leaving me with income my alone can i ask is that a normal or reasonable amount for him to be left as this will be over a long time or until something come up.This is after the mortgage and council tax is paid and as before its all in his name only.thanks for reading.

I'm not too familiar with how a DAS works, but I think it's similar to a debt management plan, as you are supposed to repay all your debt, just over a longer period.
£150 a week sounds a reasonable amount to me, the key is to live within your means, so if he has to, then he has to, and it should set him in good stead for when he's debt free.

JeDi

Hi loubell, I understand you're mostly interested in debt refinancing and such, but I suggest you start with cash planning. This only sounds hard, but is really easy to do! Start with writing down all your expenses. there are cool free Apps for that, but you also can use plain excel sheet (Apps are better if fact cause they track your spending by section and give you the results). In a month you will see what you and your partner are spending money on, and with this information you can decide how much money you can set aside toward paying your debts (I suppose it seems like 0, but when people start writing down their expenses they often save around 10% just simply because they are doing it and get to think about their spending). If this doesn't work, analyse your spendings and see where you can cut off. Skipping one cup of coffee a day counts too

loubell

Right any advice at all will be appreciated,he has assured me that the DAS/DMP thing will be up and running early next year question i want to ask is if he misses some of his payments before that starts will that affect his chances of it all being accepted the reason i'm asking is things are really tight this christmas and i don't think he will manage to pay them all this calendar month.Anybody know about these things please.I dont want my son to suffer this christmas as he has suffered enough in his life and after this christmas it all going to be a new start for us all.

sourcrates

loubell wrote: »

Right any advice at all will be appreciated,he has assured me that the DAS/DMP thing will be up and running early next year question i want to ask is if he misses some of his payments before that starts will that affect his chances of it all being accepted the reason i'm asking is things are really tight this christmas and i don't think he will manage to pay them all this calendar month.Anybody know about these things please.I dont want my son to suffer this christmas as he has suffered enough in his life and after this christmas it all going to be a new start for us all.

Hi,

Write/email, and tell the creditors the DAS payments will start January, (or whenever).

Wouldn't worry about it to be honest !!

Enjoy your Christmas !!!

loveka

You are doing the right thing.

Missing payments proves he needs help if anything. It makes no difference to them in regards to being accepted. He has to be accepted if he is in financial difficulties but can offer something in payment. This is part of the consumer credit act.

My partners debt is bow GONE. Had we remortgaged we would still be paying it.

I know you are worried, but please realise this is absolutely the best thing to do.