I am in a mess financially

HappyMJ

marmitechops wrote: »

I receive ESA and DLA. The direct debit for gas and electric combined is £51 per month

So you don't work (as you can't work and claim ESA) and the £2,000 you have put in as income is actually your partners income. That makes quite a big difference.

Unsecured creditors can't come after your partners money they can only ask you for the money and if you don't earn anything you don't have to pay anything. I would suggest making token payments on your own unsecured debts....just the ones on your name. Your partner should continue making the mortgage payments and paying off their debts and paying for all of the household expenses.

marmitechops

Sorry I wasn't concentrating when I filled the form in.
He pays for most of it at the moment. The money all goes into a joint account and money is taken out each month as and when we need it. My benefits go into the same account. All the household bills and mortgage are all in joint names as well. just 3 cards that aren't

HappyMJ

marmitechops wrote: »

Sorry I wasn't concentrating when I filled the form in.
He pays for most of it at the moment. The money all goes into a joint account and money is taken out each month as and when we need it. My benefits go into the same account.

That's fine. It be his income that will be used to increase your joint mortgage by £42,000.

After that happens there will be no spare money for you to make any payments towards your unsecured debts so you may as well make token payments now and save the money for your future health needs.

Candyapple

Does your husband know about this £42k op that is required? If yes, how has he mentioned how you two would go about funding it?

If you were to re-mortgage your house, don't forget that if you don't tell him about your debts that it will all come out then because as you have a joint account, your credit history and debts will affect his credit file and vice versa and it would definitely affect any re-mortgage amount.

£25k in cc debt is a lot of overspending. Do you have anything you could sell to pay towards the debts?

If you really can't face telling your husband then have a look at snowballing your debt:
http://www.whatsthecost.com/snowball.aspx

My advice is to come clean to your husband about the debts and the both of you need to sit down and work out a budget and both be accountable for your money, not just one handing the reigns to another whilst the other has their head in the sand. Whilst your husband may be upset, better he finds out now than however long down the line when you can no longer keep up the repayments and he finds out himself.

giddypenguin

marmitechops wrote: »

OH isn't paying any other debts off. We have a joint account that I am in charge of. If he wants money he asks me to get it out for him.

Sorry, I read your post as 'OH is overpaying mortgage using money in the account' I would argue that money should be going on your cards, not overpaying the mortgage.

louloufox

Am I the only one who feels this whole story does not ring true?

£250,000 debt already and no income?

HappyMJ

giddypenguin wrote: »

Sorry, I read your post as 'OH is overpaying mortgage using money in the account' I would argue that money should be going on your cards, not overpaying the mortgage.

If I were her husband I would refuse to pay for unsecured debts incurred without my knowledge and I would prioritize paying the mortgage above all else. A roof over ones head is more important than paying unsecured creditors. The husband should be able to extend the mortgage to pay for the upcoming health costs but that will increase the monthly mortgage repayment and leave nothing for making any unsecured debt repayments.

It's a choice they'll have to make themselves. If they pay anything towards the unsecured debts the OP will go without the medical procedure or they could extend the mortgage undergo the medical procedure then repay the mortgage whilst making token payments towards the unsecured debts.

louloufox wrote: »

Am I the only one who feels this whole story does not ring true?

£250,000 debt already and no income?

It's possible the OP was able to take out credit cards before finishing employment. I don't work and still have a £27,000 credit card limit taken out when I was earning money.

matt0410

If you're on the NHS they can't charge you 40k for an op. Is this cosmetic?
You should come clean to your OH...for better for worse and all that

January2015

HappyMJ wrote: »

The husband should be able to extend the mortgage to pay for the upcoming health costs but that will increase the monthly mortgage repayment and leave nothing for making any unsecured debt repayments.

It's a choice they'll have to make themselves.

Extending the mortgage may come at a high financial cost. The current account is linked and one would think the mortgage is as well. The OPs debt situation may therefore adversely impact on the ability to obtain a decent rate for a remortgage/second mortgage.

HappyMJ

January2015 wrote: »

Extending the mortgage may come at a high financial cost. The current account is linked and one would think the mortgage is as well. The OPs debt situation may therefore adversely impact on the ability to obtain a decent rate for a remortgage/second mortgage.

It's either remortgage at a high financial cost....or....sell the house but as the OP's health condition requires urgent surgery I'm sure they won't be wanting the stress of moving out of their own home and into rented and all that entails.

The husband may not want to stop being a homeowner. I certainly wouldn't...so I would (if I were him) remortgage. The OP's credit doesn't usually matter there are ways around that. The OP could gift her share in the property to her husband and take her name off the deeds and the mortgage to enable her husband to get a mortgage to give her the money to pay for her medical costs. She doesn't earn anything so it's not going to make any difference to the amount a mortgage lender would lend whether she's on the mortgage or not.