The Light is Here

Enough17

Hi

I'm not sure where to post my first post. I read Ellies post just now. Think it stated 46k worth of debt paid off in 7 years. Would u mind feeling me how much your monthly payment was for?I haven't filled out a Soa yet but will. Basically these are the approx figures

Income
Income 1700pm -me
Income 1500pm -hub (not always paid on time- s.e)
Child benefit - 135pm
Rental income from owned house 750pm

Expenditure
Rent - 440pm
Joint mortgage 620pm
2nd mortgage 250pm
Tesco Loan 8000- 178 pm (missed 1 payment) about 2k left owing
Credit card 45k (Mbna, virgin, bcard)
Card mthlt payment approx £700pm
Overdraft 1500 - each, use both each mth

The mortgages are joint and credit card mixture of joint and individual -approx 7 in total.

The credit cards were all 0% deals and we were managing them until hubby broke his foot and unable to work for 3 months. Plus some have changed rate to include interest. Credit rate affected so no more 0 deals.

My income has increased by 10k a year due to going from part time to full time. So things would have been better but the broken foot hit us hard. Have missed 2 payments on the 250 mortgage. 1 of the loan at 178 and 2 credit card min payments with virgin and bcard.

My husband is a bury head in sand type of person so I'm carrying this burden myself. He knows about it but doesn't know how to handle it, my job is very stressful and I am studying also- purely for the increase in money it will give us...that will take approx 2 years with hopefully an extra 10k income.

We have 2 kids and I worry as they get older

Should we sell the house?. There's about 95k left on it and prob worth 150k...or a DMP. I'm reluctant to sell house if possible.

Please help...any advice would be much appreciated. Thanks

P.s the 2 missed cc's and 1 loan payment are in hubs name...would it be an option to set DMP up in his name only and pay the 2 missed mortgages (my name) separately?? Basically so only he has the DMP? Thanks again

clairebeth

Hi Enough17, well done for asking for help. You need to post your question on the main board. So go back a page into the debt free wannabe forum and start a new thread. Just copy and paste what you've written here for now and fine tune it once people ask for specifics. You can do this, I'm sure you won't have to sell your house, but you won't know until you get it all written down and sorted out. Best of luck to you.