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Finally facing up
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Iateallthepies
Posts: 40 Forumite
I have been reading posts for over 10 years without posting but finally I real ready to speak!
Because of illness I have been out of work for long periods over the last 15 years and, due to our son's medical needs my wife has also not worked for the last 14 years. We are homeowners and although I am in fairly good employment now we have built up substantial credit card debt of around £27,000 (most of it on interest free but only managing minimum monthly payments which is over £500 a month) This leaves our monthly direct debits at over £1700 and my monthly wage totals £1900. We get child benefit and child tax credits which brings our total disposable income (food, clothing, holidays etc) at £350 a month. I will do a detailed planner shortly but I need to pull my head out of the sand and start dealing with our debt. Only I dont know what we can do? Any advice please.
Because of illness I have been out of work for long periods over the last 15 years and, due to our son's medical needs my wife has also not worked for the last 14 years. We are homeowners and although I am in fairly good employment now we have built up substantial credit card debt of around £27,000 (most of it on interest free but only managing minimum monthly payments which is over £500 a month) This leaves our monthly direct debits at over £1700 and my monthly wage totals £1900. We get child benefit and child tax credits which brings our total disposable income (food, clothing, holidays etc) at £350 a month. I will do a detailed planner shortly but I need to pull my head out of the sand and start dealing with our debt. Only I dont know what we can do? Any advice please.
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Oops sorry I should also add that I have on occasion done some cash in hand work as a fast food driver which brings in £50 or so.0
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You've posted this in the challenges page but I'm sure admin will move it for you.
The best thing to do is start with a SOA and see exactly where you stand.DEC GC £463.67/£450
EF- £110/COLOR]/£10000
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