100k unsecured debts.

sourcrates

Anyway, back to your original question.

Debt solution options are as follows :

Bankruptcy
IVA
DMP
Cut back on outgoingings/increase income.

Depending on your brothers circumstances, one, or more, of the above will apply.

Without further specific detail, that's the best I can do.

MrsTinks

Hmmmmm I guess if you look at it including car loans then our combined household debts are maybe not that far off... difference is we see the car finance as an expense, not so much as a debt. Husbands car is paid for by his car allowance anyway so it's to us more of a "yeah the money goes out but that amount also comes IN over here for THAT purpose...".

Not sure I agreed he needed an AUdi A6 Allroad, but hey... it's covered by his allowance so I guess it's up to him

But if you included them in the calculations then we have definitely had over £100k in debt before now. I had a £20k+ car, he had a £55k car and then we probably had over £25k of unsecured debts... so yeah £100k isn't as far off as you'd think.

Some of this is all about how your view on debts are. As I say to us the cars don't "count" as they to us are an expense we pay for monthly, but we've set them up so they can be surrendered after relatively short periods. If we needed to we could surrender and buy cheap run arounds - just not whilst we're working lol

sugarcube84

MrsTinks wrote: »

Hmmmmm I guess if you look at it including car loans then our combined household debts are maybe not that far off... difference is we see the car finance as an expense, not so much as a debt. Husbands car is paid for by his car allowance anyway so it's to us more of a "yeah the money goes out but that amount also comes IN over here for THAT purpose...".

I think like this as well, car allowance covers my car payment/insurance/maintenance if I didn't have it i'd have a company car instead. I worked out that i'm better off taking the car allowance rather than take one of the cars available to me. So i'm actually (ahem) reducing my debt :-)