My partner has got me £12k+ in debt

enthusiasticsaver

What about the £1200 your OH promised you would have in February? Can that not be paid off your barclaycard? I would be fuming if I were you !!

enthusiasticsaver

Sorry I have just seen that he gave you the £1200 which you put into savings. Yes you should pay that off the debt instead.

takman

TinieT wrote: »

True, thank you. Think I will apply to withdraw £2,000 today. That makes it seem a bit more bearable although still disheartening!

Can't wait to be free of this

Personally i think you should just pay off the card in full with your savings because if you start paying interest your just throwing money down the drain.


Also you should open a new savings account for future savings. I don't know what interest rate your getting now but considering that you can get many current accounts paying 3, 4 and 5% interest with instant acesss i doubt your 30 day notice account pays anything close to that.


If you are really worried about spending your savings then think about it like this. If you have £12k of debt and £4k in your savings account your total net worth is -£8k. So no matter if you keep it in your savings accounts or pay off your card your net worth will still be -£8k.


But if you don't pay off your card you will start paying interest on the balance. This means that your £4k of savings is basically a £4k loan because your paying interest on it.

allthe7s

the £1200 he gave you back would have been much better going straigh off the debt thats about to have interest on it. Personally I would withdraw all your savings, perhaps leave yourself with £500 for a true emergency.

Can you seriously imagine living your whole life with this guy, when you have kids and are potentially relying on his income (if you stayed at home or were on maternity leave etc) and constantly doubting if he's going to pay the mortgage and bills that month or if he'll be too concerned with wanting a telly bigger than his mate has? I have been with guys like this and he will NEVER change. I know this sounds harsh and you love him but you need to think of your future happiness.