It has to stop

Worriedaboutmoney_2

This is my first post on here although I've lurked for a while.
Completely and utterly disappointed with myself that it's come to this but a combination of bad luck and bad decisions has led me here.

I have just under £15k of unsecured debt - spread over an overdraft, 3 credit cards and a store card.

Until 3 years ago my credit was still high but I was actually paying off good amounts and had worked out I would be debt free within 3 years. Then just as I completed a degree and my earnings increased my husband was made redundant- he had always been by far the main wage earner. Unable to find a job he decided to go self employed- long story short this hasn't been as successful as he has hoped and tie last 2 years I've had to cover my own bills plus all of the household running costs and bills. This has meant that I have only been able to pay minimum payments and even added to my debt as at times had to use credit card for petrol
And food shopping.

My husband had even more debt than me, again wasn't a problem when he was earning a good salary but he's currently earning virtually nothing.

Have had to do extra shifts just to break even but now I'm at breaking point. We are considering doing a joint DMP but need to speak to stepchange (am waiting on figures from hubby so we can make the call)

Bankruptcy or IVA isn't an option as he has a lump sum due back to him Dec 17 but has to use part of this to pay back family members. I am also in the process of waiting on a possible tax refund so again don't want this to be swallowed up by an IVA.

We have our own house (mortgaged) with no equity and part of the mortgage is still on an interest only deal - we need to get this completely swapped over to repayment but can't afford to right now.
So. There it is. Our failures and shortcomings

doingitanyway

You may have failings and shortcomings (haven't we all) but you have faced up to it and are tackling it, so I applaud you.

FinallyDebtfree2017

Well done for facing up, one step at a time

Worriedaboutmoney_2

Thank you. It has taken massive courage just to put the words down. Next step is to contact stepchange

enthusiasticsaver

Are you still able to make minimum payments? Why not post an soa?

Most important bills are mortgage, council tax, utilities and food. If there is sufficient to cover minimum on unsecured debt until OH finds another job that would keep your credit rating intact. If not either contact stepchange or write to creditors with details of income and expenditure offering nominal payment and asking them to freeze interest.

Bobarella

Good luck with it.

Worriedaboutmoney_2

I'm too scared to post SOA as I know people will critique it. Particularly my Sky subscription (which hubby refuses to let me cancel) and my car finance (I was already tied into a finance deal but had to swap my small car for a larger family car when hubby swapped his car for a van for his business)
He's just found some additional self employed work which he can fit around his business. Trouble is he's just about paying his bills so this leaves me with the other household bills.
Just not sure that he will have any extra income coming in anytime soon so that he can start contributing towards the household bills again - I've been solely paying them for 2 years now.

We've not defaulted on anything and I am just about scraping by paying minimum payments and I'm only avoiding putting more on credit cards by working extra shifts.

But this is taking a toll of my health physically and mentally.

Thanks for your kind replies so far

Worriedaboutmoney_2

Still waiting for my husband to write down all his debts/outgoings and income so that we can start finding out what our options are. Grrrr wish he would hurry up as feel I really want to get the ball rolling now.

Had a relatively minimal spend day today. It's my last couple of days of annual leave before going back to work.

Today me and my mum went for afternoon tea. I had bought her a voucher back in August for her birthday and only got around to using it today. We had a look around the shops and she treated me to some clothes for Christmas so I didn't spend anything. She paid parking costs so I only paid petrol cost of getting us there as I drove.

Had a long chat with her about our situation- she knows how hard it's been but not the extent of the debt. Felt like a massive relief to be honest with her.

Choccygirl123

Hi worried, just wanted to pop by and say hi!

Good luck with the OH - you need a plan to pin him down. Make him something nice to eat, give him a pen and paper and some time. If that fails change the parental control on the sky.:D

Former_MSE_Andrea

Hi!

I couldn't go past without stopping to help.

You may have seen our guides already but if not, please have a look to see where they might help you

Debt Problems

Do a Money Makeover

Take care!

Andrea

-taff

Worriedaboutmoney wrote: »

Still waiting for my husband to write down all his debts/outgoings and income so that we can start finding out what our options are. Grrrr wish he would hurry up as feel I really want to get the ball rolling now.

He might be bricking it about telling you. Do you not get post to your house about CC's etc? If you do , read them.
You can still phone up stepchange and sort your own debt out if he's head in the sandman, because waiting will only make you worse if you're finding it physically and mentally hard now. You could also point out that last bit to him, he's probably feeling the same.