Massive Credit Card Debt

bigadaj

The OP hasn't been back but there are a limited range of options.

This appears to be solely the wife's debt and the indication is that she can't service payments herself. One option is to default and come to an arrangement to pay, or go for a for, of bankruptcy. Given the size of the debt this could be advisable given that the alternative is paying off £32k plus interest over six years. Drawbacks might be that as they may well be financially linked it will cause problems with any joint credit including mortgages.

Continuing as they are is probably the worst option given the apparent high interests rates and the cost and time to resolve.

Third option is to transfer some or all of the debt to the husband, presumably and ideally using a Combination of 0% credit cards and low interest loans. This would avoid the credit damage if the first option but would probably be more expensive but is more honest. The problem is that on transfer the wife's debt becomes the husbands so there is trust and risk involved.