Help

CHARLIE82_2

My partner has had a loan for coming up 10 years and it was for £20,000 I have only been with him for 8 years and this loan is now only down to £18,000 in 10 years crazy I know, this is holding us back from doing lots of things such as getting a place together and so on, he has a mortgage and has about £100,000 in equity, BUT he has bad credit as he due to late payments etc, does anyone has any suggestions to how this can be helped, as the APR must be ridiculously high as it seems he will never be free from this.


Thanks for any help in advance

x_raphael_xx

Hi,
Welcome to the board.
Don't panic, deep breaths.
You have already taken the first step by admitting the debt and wanting to tackle it.

First step is to post your SOA, I don't have the link I'm afraid, but I'm sure someone will be along in a sec with the link.

Good luck!

x_raphael_xx

SOA calculator

Found it

lika_86

Does he want to sort it out? Or do you? Without getting him on board then it'll be difficult to do anything about it, even if he goes along with it to appease you.

Is it the debt holding you back from getting a place together? If he's telling the truth then he's +£80k. Your bigger problem is probably his late payments and credit rating. He needs to be organised enough so that these don't happen in the future, which means setting up direct debits and making sure he has enough to pay them.