Struggling with debt? Ask a debt adviser a question

Yellowshirt

Hi
My ex wife took out debts on credit cards and spent my over draft of £7000 without me knowing. I now have 3 ccjs. Am I best just paying this off and starting my life again or flagging it up aso a criminal offence. The last ccj is just two years old and I'm worried and suicidal about my future. Please help.

System

hi me and my partner are in bad spot
we are currently 45k in debts loans store cred etc unsecued
we have morgage with no equity after budgeting to the bare minum. we could just about afford 350 amonth for a iva
would this be possible and accepted
thanks guys

StepChange_Allen

Blue_Bunny wrote: »

I was given a suspended possession order for a Halifax mortgage on 2013. Since then I have paid back over £50,000 on my mortgage, I now have just under 2 years left on my mortgage, with £19,000 owing, which includes £8,000 arrears. This has been to difficult personal circumstances during the last year. Therefore I have applied for Equity Release which will pay off the mortgage and the loan. However, the Halifax have enforced the order and the solicitors have requested the bailiffs to execute the warrant. I have spoked to the Halifax to explain about the equity release but they will not stop the order unless I pay £8,000 immediately. I won't obtain the equity release before a Bailiff enforces eviction. I have a husband who has had heart surgery and the shock of eviction would be too much for him. Please could you offer any advice on what I can do to stop this eviction. Many thanks.

Hi Blue Bunny

Thanks for posting.

I hope you managed to get some advice over the weekend as advised by sourcrates, but if you still need further help you can give us a call. We're open Monday to Saturday and all details for getting in touch can be found here: www.stepchange.org/Contactus

Best wishes

Allen

StepChange_Allen

Yellowshirt wrote: »

Hi
My ex wife took out debts on credit cards and spent my over draft of £7000 without me knowing. I now have 3 ccjs. Am I best just paying this off and starting my life again or flagging it up aso a criminal offence. The last ccj is just two years old and I'm worried and suicidal about my future. Please help.

Hi there

Thanks for posting.

I'm sorry to hear that you're feeling suicidal about your future. I'd recommend seeking some help and support for how you're feeling. You could start with your GP, or alternatively mental health charity MIND: www.mind.org.uk or the Samaritans: www.samaritans.org/ or call 116 123 for free.

In regards to the debts, it's completely up to you whether you report this as fraud to the police and the creditors themselves. If you do, it can be investigated, if not then you'd need to deal with the debts as if they were yours; therefore only you can decide what to do.

If either way you end up owing the money and would like some help to deal with them, you can register with us free of charge. You can do this online or over the phone, and all details can be found on our website: www.stepchange.org/Contactus

We can discuss and advise on the CCJs as part of this.

I hope this is helpful, please get in touch if we can assist further.

Allen

StepChange_Allen

mufc2k19 wrote: »

hi me and my partner are in bad spot
we are currently 45k in debts loans store cred etc unsecued
we have morgage with no equity after budgeting to the bare minum. we could just about afford 350 amonth for a iva
would this be possible and accepted
thanks guys

Hi there

Thanks for posting and explaining a little bit about your situation.

In order to give you accurate debt advice, tailored to your specific financial situation, we'd need to do a full budget with you. This includes all your income, household bills and living costs, and outstanding debts. We'd then present all of your available options to you and you can choose what you'd like to do.

You can register with us free of charge via our online Debt Remedy tool or our telephone debt advice line; all details can be found on our website here: www.stepchange.org/Contactus

I hope we can help you soon.

Allen

saltedusers

Hi there wonder if you can help
Im currently in a debt relief order
Me and my partner have just split up but they have agreed to pay me onemonths more rent til i start my new job
I will be losing £400 a month
But my new job pays an additional £250 but i will have increased costs ive worked out im still under the £50 limit
Im scared my DRO will be revoked this is the worst time of my life rightnow

sunfug

Hello, my wife and I really need to sort out our finances. While the advice on these forums with regard to doing it yourself is top notch we find it very difficult to discuss money. In the past it has been a touchstone for arguments and frankly we both try and avoid the subject - stupid I know.

An objective and expert voice would be very helpful to mediate and guide us through. We are both self-employed and though we have pretty good incomes our finances are separate and we have got ourselves into substantial debt. A relatively small shock to the system is all it would take to cause big problems. Are there Financial Advisers/services to help people in our situation? It seems they are either geared towards those with spare money to manage or those in more difficult situations than ours. Thanks for your help.

System

hi im
in a very very bad spot got round 48k in debt but must is very recent as i had a big change in circumstances
due to it being recent will
this effect the creditors desion of passing an iva.

Former_StepChange_Linsi

Hi

Thanks for posting and welcome to the forum.

I’m sorry to hear you’re having a difficult time right now, it certainly sounds like you have a lot of changes to deal with.

This alone can be hard to manage without the added pressure of having debts. If you do need anyone to talk to you can call the Samaritans on 116 123. Alternatively, Mind has lots of useful information about managing life’s stresses on their website. Here’s the link.

As your income has increased, you do have a duty to tell the official receiver. However because your situation has changed and your living costs have understandably increased, this will also be taken into account (a full budget review will be completed).

A DRO can be revoke if your disposable income goes above the £50 limit but from what you’ve said this isn’t the case so your DRO should continue as usual.

I hope this helps,

Linsi

saltedusers wrote: »

Hi there wonder if you can help
Im currently in a debt relief order
Me and my partner have just split up but they have agreed to pay me onemonths more rent til i start my new job
I will be losing £400 a month
But my new job pays an additional £250 but i will have increased costs ive worked out im still under the £50 limit
Im scared my DRO will be revoked this is the worst time of my life rightnow

Former_StepChange_Linsi

Good afternoon

Welcome to the forum and thanks for posting.

Yes, there are expert advisors you can speak to help you and your wife find a more manageable way to deal with your finances and debts.

As you’re self-employed I’d recommend speaking to Business Debtline. They’re a debt advice charity who can provide free and impartial advice to help those with business and/or personal debt.

You and your wife can call them together on 0800 197 6026 to create a joint budget. Alternatively, if you’d like to keep things separate you can them individually. They’re open 9am to 8pm weekdays. You can also create a budget and get advice via their website, if you’d prefer to keep things online. Here’s the link.

You’re not alone, there are lots of couples who struggle to talk about money and debts. I hope that this will be an easier subject to talk about once you have a debt solution in place but if you need any additional support I recommend speaking to Relate, the UK's largest provider of relationship support. You can find more information about Relate here.

All the best,

Linsi

sunfug wrote: »

Hello, my wife and I really need to sort out our finances. While the advice on these forums with regard to doing it yourself is top notch we find it very difficult to discuss money. In the past it has been a touchstone for arguments and frankly we both try and avoid the subject - stupid I know.

An objective and expert voice would be very helpful to mediate and guide us through. We are both self-employed and though we have pretty good incomes our finances are separate and we have got ourselves into substantial debt. A relatively small shock to the system is all it would take to cause big problems. Are there Financial Advisers/services to help people in our situation? It seems they are either geared towards those with spare money to manage or those in more difficult situations than ours. Thanks for your help.