New - Eeeeekkk!

FizzyVimto_2

Lurked as a visitor for a while and have had my light bulb moment. I have 12 months to get my ex off the mortgage, I'm a single mum and I'm in a shed load of debt! I cant even tell you how I got so much on a credit card like that. The interest is £200 a month alone.
I've done an action plan of getting my debt down to 15k in 12 months, I "should" be debt free by mid 2020 (there goes my 30s!), and I am absolutely terrified (yet slightly excited) as to what the next 4 years will be like (there goes holidays and new clothes!). I just hope I can afford a bottle of wine at the weekend!
I have a financial broker coming round this week to give me some guidance as to what I can expect in 12 months.
Wish me luck - cant wait to be part of the forum now I've finally plucked the courage to join and deal with the situation I have made for myself.

lazer-zxr

Sounds like you've got the right attitude, and will bring some drive to the forums.
Thanks for the post, it's really positive the way you're tackling this. Good luck!

National_Debtline

Hi Fizzyvimto and welcome to MSE,


You do certainly seem to have the right attitude and a plan going forward. Try and post your SOA on here for more help and guidance. Make sure you change your bank account to one where none of the debt is linked to protect your income (just in case you run into any further issues) and getting further, independent advice about mortgages is always worth considering. Best of luck,


Laura
@natdebtline

FizzyVimto_2

Thank you for your responses! I will do an SOA tomorrow (it aint pretty - I'm not even sure if its realistic!)....
just a financial adviser round who said getting ex off mortgage is do-able (feeling hopeful), however, he told me to really consider putting the CC debt onto the mortgage as it wont get paid off otherwise...not sure I like the sound of that though tbh (4 years grafting/no life.....or 14 years manageable debt - 14 years is the time left on my mortgage)....

rogue999

Hi - and welcome.
I'm certainly no expert but putting credit card debt onto your mortgage sounds like awful advice to me. Your unsecured debt will then be secured against your property - please seek some impartial advice about that first. I'm guessing the financial advisor can sell you the products you 'need' so not exactly impartial.
Appreciate the situation may be slightly different with needing to get your ex off the mortgage.

An SOA will really help you get everything straight in your mind - it's good to get it all written down - even if a wee bit scarey!

in_need_of_direction

Putting debt onto my mortgage is why a dfw rather than a mfw.